Company: TDBCP
Filing Date: 2025-10-20
Form Type: 424B2
Source: 0001140361-25-038662
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-20
Form: 424B2
Chunk 7
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6 |

Correlation (Or Lack Of Correlation) Among The Basket Components May Adversely Affect Your Return On The Securities “Correlation” is a measure of the degree to which the returns of a pair of assets are similar to each other over a given period in terms of timing and direction. Movements in the values of the Basket Components may not correlate with each other. At a time when the value of a Basket Component increases in value, the value of another Basket Component may not increase as much, or may even decline in value. Therefore, in calculating the Basket’s performance on the Valuation Date, an increase in the value of one Basket Component may be mitigated, wholly offset or reversed by a lesser increase, or by a decline, in the value of another Basket Component. Further, high correlation of movements in the values of the Basket Components could adversely affect your return on the Notes during periods of negative performance of the Basket Components. Changes in the correlation of the Basket Components may adversely affect the market value of, and return on, your Notes. We Have No Affiliation With the Target Index Sponsor, the Investment Adviser or Any Index Sponsor and Will Not Be Responsible for Any Actions Taken by Any Such Entity. The sponsor (the “Target Index Sponsor”) of the target index of the Equity Basket Component (the “Target Index”), the Investment Adviser (each as specified herein under “Information Regarding the Basket and the Basket Components” and the Index Sponsors are not affiliates of ours and will not be involved in the offering of the Notes in any way. Consequently, we have no control over the actions of the any such entity including any actions of the type that would require the Calculation Agent to adjust the amount payable on the Notes. The Target Index Sponsor, the Investment Adviser and the Index Sponsors have no obligation of any sort with respect to the Notes. Thus, the Target Index Sponsor, the Investment Adviser and the Index Sponsors have no obligation to take your interests into consideration for any reason, including in taking any actions that might affect the value of the Basket or the Notes. None of our proceeds from the issuance of the Notes will be delivered to any Target Index Sponsor, Basket Component Sponsor or Index Sponsor. The Value of the Equity Basket Component May Not Completely Track Its NAV. The net asset value (“NAV”) of an ETF, including the Equity Basket Component, may fluctuate with changes in the market value of its Basket Component Constituents. The market values of an ETF may fluctuate in accordance with changes in NAV