Company: TDBCP
Filing Date: 2025-08-28
Form Type: 424B2
Source: 0001140361-25-033193
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-28
Form: 424B2
Chunk 0
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The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any state where the offer or sale is not permitted.

| PRELIMINARY PRICING SUPPLEMENT                          
 Subject to Completion, dated August 28, 2025            
 Filed Pursuant to Rule 424(b)(2)                        
 Registration Statement No. 333-283969                   
 (To Product Supplement MLN-WF-1 dated February 26, 2025 
 and Prospectus dated February 26, 2025)                 |

| ■Linked to thelowest performingof the common stock of Advanced Micro Devices, Inc., the common stock of Broadcom Inc., the common stock of                                                                                                   
 CrowdStrike Holdings, Inc. and the common stock of Meta Platforms, Inc. (each referred to as an “Underlying Stock”)                                                                                                                          
 ■Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity and are subject to potential                                                     
 automatic call prior to stated maturity upon the terms described below. Whether the securities pay a contingent coupon payment, whether the securities are automatically called prior to stated maturity and, if they are not automatically  
 called, whether you receive the face amount of your securities at stated maturity will depend, in each case, on the stock closing price of the lowest performing Underlying Stock on the relevant calculation day. The lowest performing     
 Underlying Stock on any calculation day is the Underlying Stock that has the lowest stock closing price on that calculation day as a percentage of its starting price                                                                        
 ■Contingent Coupon.The securities will pay a contingent coupon payment on a monthly basis until the earlier of stated maturity or automatic call                                                                                             
 if,and only if, the stock closing price of the lowest performing Underlying Stock on the calculation day for that month is greater than or equal to its coupon threshold price. However, if the                                              
 stock closing price of the lowest performing Underlying Stock on a calculation day is less than its coupon threshold price, you will not receive any contingent coupon payment for the relevant month. If the stock closing price of the     
 lowest performing Underlying Stock is less than its coupon threshold price on every calculation day, you will not receive any contingent coupon payments throughout the entire term of the securities. The coupon threshold price for each   
 Underlying Stock is equal to 65% of its starting price. The contingent coupon rate will be determined on the pricing date and