Company: TDBCP
Filing Date: 2025-07-25
Form Type: 424B2
Source: 0001140361-25-027353
Chunk: 26

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-25
Form: 424B2
Chunk 26
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 as the securities. Some of these tax consequences are summarized below, but we urge you to read the more 
 detailed discussion in “Material U.S. Federal Income Tax Consequences” in the accompanying product supplement and to discuss the tax consequences of your particular situation with your tax advisor. This discussion is based upon the U.S.     
 Internal Revenue Code of 1986, as amended (the “Code”), final, temporary and proposed U.S. Department of the Treasury (the “Treasury”) regulations, rulings and decisions, in each case, as available and in effect as of the date hereof, all   
 of which are subject to change, possibly with retroactive effect. Tax consequences under state, local and non-U.S. laws are not addressed herein. No ruling from the U.S. Internal Revenue Service (the “IRS”) has been sought as to the U.S.    
 federal income tax consequences of your investment in the securities, and the following discussion is not binding on the IRS.                                                                                                                    |
|                                  | U.S. Tax Treatment.Pursuant to the terms of the securities, TD and you agree, in the absence of a statutory or regulatory change or an                                                                                                           
 administrative determination or judicial ruling to the contrary, to characterize the securities as prepaid derivative contracts with respect to the underlying indices. If your securities are so treated, any contingent quarterly coupon that  
 is paid by TD (including on the maturity date or upon early redemption) should be included in your income as ordinary income in accordance with your regular method of accounting for U.S. federal income tax purposes.                          |

| July 2025 | Page26 |

| $1,070,000 Contingent Income Auto-Callable Securities due July 28, 2027                              |
| Based on the Worst Performing of the Nasdaq-100 Index®, the Russell 2000®Index and the S&P 500®Index 
 Principal at Risk Securities                                                                         |

| In addition, excluding amounts attributable to any contingent quarterly coupon, you should generally recognize capital gain or loss upon the taxable disposition (including cash settlement) of                                                  
 your securities in an amount equal to the difference between the amount you receive at such time (other than amounts or proceeds attributable to a contingent quarterly coupon or any amount attributable to any accrued but unpaid contingent   
 quarterly coupon) and the amount you paid for your securities. Such gain or loss should generally be long-term capital gain or loss if you have held your securities for more than one year (and, otherwise short-term capital gain or loss).    
 The