Company: TDBCP
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001140361-25-007568
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-07
Form: 424B3
Chunk 14
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 and other financial, political, public health, regulatory and judicial events, natural disasters, acts of terrorism or war, and related uncertainties that affect stock or commodity markets generally, may adversely affect the value of the 
 Market Measure and the market value of the notes. If an Underlying Stock is an ADR, the value of your notes may also be adversely affected by similar events in the markets of the relevant foreign country.                                  |

<div align='center'>PS-13</div>

| • | Interest Rates.We expect that changes in interest rates will affect the market value of the notes. In general, if U.S. interest rates increase, we                                                                                              
 expect that the market value of the notes will decrease. In general, we expect that the longer the amount of time that remains until maturity, the more significant the impact of these changes will be on the value of the notes. The level of 
 interest rates also may affect the U.S. economy and  any applicable market outside of the U.S., and, in turn, the value of the Market Measure, and, thus, the market value of the notes may be adversely affected. If an Underlying Stock is an 
 ADR, the level of interest rates in the relevant foreign country may affect the economy of that foreign country and, in turn, the price of the ADR, and, thus, the market value of the notes may be adversely affected.                         |

| • | Dividend Yields.In general, if the cumulative dividend yield on an Underlying Stock increases, we anticipate that the market value of the notes will 
 decrease.                                                                                                                                            |

| • | Our Financial Condition and Creditworthiness.Our perceived creditworthiness, including any increases in our credit spreads and any actual or                                                                                                  
 anticipated decreases in our credit ratings, may adversely affect the market value of the notes. In general, we expect the longer the amount of time that remains until maturity, the more significant the impact will be on the value of the 
 notes. However, a decrease in our credit spreads or an improvement in our credit ratings will not necessarily increase the market value of the notes.                                                                                         |

| • | Time to Maturity or, if Applicable, the Next Observation Date.There may be a disparity between the market value of the notes prior to maturity or an                                                                                              
 automatic call or, if applicable, prior to an Observation Date, and their value at maturity or as of the next Observation Date, if applicable. This disparity is often called a time “value,” “premium,” or