Company: TDBCP
Filing Date: 2025-09-29
Form Type: 424B2
Source: 0001140361-25-036438
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-29
Form: 424B2
Chunk 5
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 | no transaction fees or expenses. |

| (2) | The total return on the notes may be rounded for ease of analysis, includes interest paid on the notes and assumes an expected term of the notes of approximately one year and one week. |

| STEP Income Securities® | TS-5 |

| STEPIncomeSecurities®                                                          
 Linked to the Common Stock of Chipotle Mexican Grill, Inc. due October  , 2026 |

Risk Factors There are important differences between the notes and a conventional debt security. An investment in the notes involves significant risks, including those listed below. You should carefully review the more detailed explanation of risks relating to the notes in the “Risk Factors” sections beginning on page PS-6 of product supplement STEPS-1 and page 1 of the prospectus. We also urge you to consult your 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 your particular circumstances before you invest in the notes. Structure-Related Risks

| ◾ | Depending on the performance of the Underlying Stock as measured shortly before the maturity date, your investment may result in a loss; there is no guaranteed return of principal. |

| ◾ | You will not receive a Step Payment at maturity unless the Ending Value is greater than or equal to the Step Level. |

| ◾ | Your return on the notes may be less than the yield you could earn by owning a conventional fixed or floating rate debt security of comparable maturity. |

| ◾ | Your investment return is limited to the return represented by the periodic interest payments over the term of the notes and the Step Payment, if any, and may be less than a comparable investment directly in the Underlying Stock. |

Market Measure-Related Risks

| ◾ | The Underlying Company will have no obligations relating to the notes, and none of us, MLPF&S, BofAS or our or their respective affiliates will perform any due diligence procedures with respect to the Underlying Company in connection 
 with this offering.                                                                                                                                                                                                                       |

| ◾ | You will have no rights of a holder of the Underlying Stock, and you will not be entitled to receive the Underlying Stock or dividends or other distributions by the Underlying Company. |

| ◾ | While we, MLPF&S, BofAS or our or their respective affiliates may from time to time own securities of the Underlying Company, we, MLPF&S, BofAS