Company: TDBCP
Filing Date: 2025-07-30
Form Type: 424B2
Source: 0001140361-25-028062
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-30
Form: 424B2
Chunk 4
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 Return on the Notes Is Limited to the Interest Payments Paid on the Notes, Regardless of Any Appreciation of the Reference Asset. The potential positive return on the Notes is limited to the Interest Payments paid, meaning any positive return on the Notes will be composed solely of the sum of the Interest Payments paid over the term of the Notes. Therefore, if the appreciation of the Reference Asset exceeds the sum of the Interest Payments actually paid on the Notes, the return on the Notes will be less than the return on a hypothetical direct investment in the Reference Asset, in a security directly linked to the positive performance of the Reference Asset or a hypothetical investment in the stocks and other assets comprising the Reference Asset (the “Reference Asset Constituents”). Your Return May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes, which could be negative, may be less than the return you could earn on other investments. Even if the Notes are not subject to an automatic call and your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date and Are Subject to Reinvestment Risk. If your Notes are automatically called, no further payments will be owed to you under the Notes after the applicable Call Payment Date. Therefore, because the Notes could be called as early as the first potential Call Payment Date, the holding period could be limited. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in the event the Notes are automatically called prior to the Maturity Date. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. The Return on the Notes is Not Linked to the Value of the Reference Asset at Any Time Other Than on the Call Observation Dates and, if the Notes Are Not Automatically Called, the Final Valuation Date. Whether the Notes are automatically called will be based on the Closing Value of the Reference Asset only on the Call Observation Dates. Similarly, if the Notes are not automatically called, the Payment at Maturity may be significantly