Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001140361-25-035069
Chunk: 16

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 16
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� | The level of each underlying index will be affected by various factors that interact in complex and unpredictable ways.The return on the securities, which may be                                                                          
 negative, is linked to the performance of each underlying index and indirectly linked to the value of the index constituent stocks. The level of each underlying index can rise or fall sharply due to factors specific to such 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 levels, interest rates and economic and political conditions. You, as an investor in the        
 securities, should make your own investigation into the underlying indices and the index constituent stocks.                                                                                                                               |

| ◾ | There can be no assurance that the investment view implicit in the securities will be successful.It is impossible to predict whether and the extent to which the                                                                              
 levels of the underlying indices will rise or fall and there can be no assurance that the index closing values ofallof the underlying indices on each trading day during any quarterly observation                                            
 period will be greater than or equal to their coupon threshold levels, or, if the securities are not redeemed prior to maturity, that the final index value ofallof the underlying indices on the                                             
 final valuation date will be greater than or equal to their downside threshold levels. The levels of the underlying indices 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 each underlying index in general and each index’s index constituent stocks in particular, and the risk of losing a 
 significant portion or all of your investment in the securities.                                                                                                                                                                              |

| ◾ | The securities are subject to small-capitalization stock risks.The securities are linked to the Russell 2000®Index, which is comprised of index                                                                                              
 constituent stocks issued by small-capitalization companies and, therefore, are subject to risks associated with small-capitalization companies. These companies often have greater stock price volatility, lower trading volume and less    
 liquidity than large-capitalization companies and therefore the underlying index may be more volatile than an index of which a greater percentage of its index constituent stocks are issued by large-capitalization companies. Stock prices 
 of small-capitalization companies are also more vulnerable than those of large-capitalization companies to