Company: TDBCP
Filing Date: 2025-08-19
Form Type: 424B2
Source: 0001140361-25-031886
Chunk: 11

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-19
Form: 424B2
Chunk 11
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 short position directly in the underlying index or any index constituent stocks.The return on your Buffered PLUS will not reflect the return                                             
 you may realize if you actually took a short position directly in the underlying index or any index constituent stocks. Unlike a direct short position in the underlying index or the index constituent stocks, which would entitle you to fully 
 benefit from any depreciation of the underlying index or such index constituent stocks, you will not benefit from any depreciation of the underlying index beyond an underlying return of -10.00%. To the contrary, an underlying return of less 
 than -10.00% will result in a loss of 1% of your principal for every 1% that the final index value falls below the initial index value in excess of the buffer amount, and you could lose up to 90.00% of your investment in the Buffered PLUS,  
 as described above.                                                                                                                                                                                                                              |

Risks Relating to Characteristics of the Underlying Index

| ◾ | An investment in the Buffered PLUS involves market risk associated with the underlying index.The return on the Buffered PLUS, which may be negative, is linked to the performance of the underlying                                            
 index and indirectly linked to the value of the index constituent stocks. The value of the underlying index can rise or fall sharply due to factors specific to the underlying index or its index constituent stocks and their issuers (the    
 “index constituent stock issuers”), such as stock or commodity price volatility, earnings, financial conditions, corporate, industry and regulatory developments, management changes and decisions and other events, as well as general market 
 factors, such as general stock market or commodity market volatility and values, interest rates and economic, political and other conditions. You, as an investor in the Buffered PLUS, should make your own investigation into the underlying 
 index and the index constituent stocks.                                                                                                                                                                                                        |

| ■ | There can be no assurance that the investment view implicit in the Buffered PLUS will be successful.It is impossible to predict whether and the extent to which the value of the underlying index                                            
 will rise or fall and there can be no assurance that the final index value will not be less than the initial index value by more than the buffer amount. The final index value (and therefore the underlying return) will be influenced by   
 complex and interrelated political, economic, financial and other factors that affect the index constituent stock issuers. You should be willing to accept the risks associated with the relevant markets tracked by the underlying index in 
 general and each index constituent stock in particular, and the risk of losing