Company: TDBCP
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001140361-25-007568
Chunk: 30

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-07
Form: 424B3
Chunk 30
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 Price Multiplier will equal the product of:**

| • | the prior Price Multiplier; and |

| • | the number of shares that a holder of one share of the Underlying Stock before the effective date of the stock split or reverse stock split would have owned immediately following the applicable 
 effective date.                                                                                                                                                                                   |

For example, a two-for-one stock split would ordinarily change a Price Multiplier of one into a Price Multiplier of two. In contrast, a one-for-two reverse stock
    split would ordinarily change a Price Multiplier of one into a Price Multiplier of one-half.

Stock Dividends. If an Underlying Stock is subject to (i) a stock dividend (i.e., an issuance of additional shares of an Underlying Stock) or
    (ii) a distribution of additional shares of an

<div align='center'>PS-25</div>

Underlying Stock as a result of the triggering of any provision of the organizational documents of the Underlying Company or otherwise that is given ratably to all holders of the
    Underlying Stock, then, once the dividend or distribution of additional shares has become effective and the Underlying Stock is trading ex-dividend, the Price Multiplier for that Underlying Stock will be adjusted on the ex-dividend date such that the
    new Price Multiplier will equal the prior Price Multiplier plus the product of:

| • | the prior Price Multiplier; and |

| • | the number of additional shares issued in the stock dividend with respect to one share of the Underlying Stock; |

provided that no adjustment will be made for a stock dividend for which the number of shares of the Underlying Stock paid or distributed is based on a fixed cash equivalent value, unless such distribution is an Extraordinary Dividend (as defined below).

For example, a stock dividend of one new share for each share held would ordinarily change a Price Multiplier of one into a Price Multiplier of two.

Extraordinary Dividends. There will be no adjustments to the Price Multiplier of an Underlying Stock to reflect any cash
    dividends or cash distributions paid with respect to that Underlying Stock other than Extraordinary Dividends, as described below, and distributions described under “— Reorganization Events” below.

An “

#### Extraordinary Dividend
” means, with respect to a cash dividend or other distribution with respect to an Underlying
    Stock, a dividend or other distribution that the calculation agent determines is not declared or otherwise made according to the Under