Company: TDBCP
Filing Date: 2025-10-21
Form Type: 424B2
Source: 0001140361-25-038801
Chunk: 2

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-21
Form: 424B2
Chunk 2
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|                                                                                                                                                                                                                                              | Estimated value on the pricing date:                                   |                                                                                                                                                                             The estimated value of your securities at the time the terms of your securities were set on the pricing date was $963.80 per security, as discussed 
                                                                                      further under “Risk Factors — Risks Relating to Estimated Value and Liquidity” beginning on page 12 and “Additional Information About the Securities — Additional information regarding the estimated value of the securities” herein. The 
                                                                                                                                                                                                                                                       estimated value is less than the public offering price of the securities. |                                                                                                                                                                                                                                                                                                                                                        |                                                                                                                                                |

| Commissions and issue price: | Price to Public(1) | Fees and Commissions(1) | Proceeds to Issuer |
| Per security                 |          $1,000.00 |               $12.50(a) |            $982.50 |
|                              |                    |              + $5.00(b) |                    |
|                              |                    |                  $17.50 |                    |
| Total                        |      $3,030,000.00 |              $53,025.00 |      $2,976,975.00 |

| * | As determined by the calculation agent and as may be adjustedin the case of certain adjustment events as described under “General Terms of the Notes — Delisting or 
 Suspension of Trading in, or Change in Law Event Affecting,an Equity Security” and “— Anti-Dilution Adjustments” in the accompanying product supplement.            |

| (1) | TDS has agreed to purchase the securities from TD at the price to public less a fee of $17.50 per security. TDS has agreed to resell all of the securities to Morgan Stanley Smith Barney LLC (“Morgan Stanley 
 Wealth Management”) at an underwriting discount which reflects:                                                                                                                                                |

| (a) | a fixed sales commission of $12.50 per $1,000.00 stated principal amount of securities that Morgan Stanley Wealth Management sells and |

| (b) | a fixed structuring fee of $5.00 per $1,000.00 stated principal amount of securities that Morgan Stanley Wealth Management sells, |

each payable to Morgan Stanley Wealth Management. See “Additional Information About the Securities — Supplemental information regarding plan of distribution (conflicts of interest); secondary markets (if any)” herein.

The securities involve risks not associated with an investment in ordinary debt securities. See “Risk Factors” beginning on page 10. Neither the Securities and Exchange