Company: TDBCP
Filing Date: 2025-08-14
Form Type: 424B2
Source: 0001140361-25-031172
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-14
Form: 424B2
Chunk 4
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| TD SECURITIES (USA) LLC | P-2 |

Selected Purchase Considerations

| • | Potential for Unleveraged Exposure to Increases in the Level of the Reference Asset, Subject to the Maximum Upside Return –The Notes provide unleveraged exposure to a limited range of increases                                              
 in the level of the Reference Asset from the Initial Level to the Final Level. However, the opportunity to participate in the possible increases in the level of the Reference Asset through an investment in the Notes is limited because the 
 return on the Notes resulting from any increase in the level of the Reference Asset will not exceed the Maximum Upside Return.                                                                                                                 |

| • | Potential for Unleveraged Contingent Absolute Return, with Potential for Full Downside Exposure –The Notes provide inverse exposure to a limited range of decline in the level of the Reference                                                 
 Asset from the Initial Level to the Final Level. However, the opportunity to receive inverse exposure to any decline in the level of the Reference Asset through an investment in the Notes is limited by the Barrier Level. If the Final Level 
 is less than the Barrier Level, you will lose 1% of the Principal Amount of the Notes for each 1% that the Final Level is less than the Initial Level, and you may lose your entire investment in the Notes.Any                                 
 payments on the Notes, including any repayment of principal, are subject to our credit risk.                                                                                                                                                    |

Additional Risk Factors The Notes involve risks not associated with an investment in conventional debt securities. This section describes the most significant risks relating to the terms of the Notes. For additional information as to these risks, please see “Additional Risk Factors Specific to the Notes” in the product supplement and “Risk Factors” in the prospectus. Investors should consult their investment, legal, tax, accounting and other advisors as to the risks entailed by an investment in the Notes and the suitability of the Notes in light of their particular circumstances. Risks Relating to Return Characteristics Your Investment in the Notes May Result in a Loss. The Notes do not guarantee the return of the Principal Amount and investors may lose up to their entire investment in the Notes. Specifically, if the Final Level is less than the Barrier Level, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Level is less than the Initial Level, and may lose their entire Principal Amount. Your Potential Return From Any Positive Percentage Change Will be Limited by the Maximum Upside Return and May be Lower Than the Return on a