Company: TDBCP
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001140361-25-042465
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-17
Form: 424B2
Chunk 9
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 As a result, the price at which MLPF&S, BofAS, or our or their respective affiliates or third parties may be willing to purchase the notes from you in secondary market transactions, if any, will likely be 
 less than the price you paid for your notes, and any sale prior to maturity could result in a substantial loss to you.                                                                                                                     |

| ■ | A trading market is not expected to develop for the notes. None of us, MLPF&S, BofAS or our or their respective affiliates is obligated to make a market for, or to repurchase, the notes. There is no assurance that any party will be 
 willing to purchase your notes at any price in any secondary market.                                                                                                                                                                    |

Conflict-Related Risks

| ■ | Our business, hedging and trading activities, and those of MLPF&S, BofAS and our and their respective affiliates (including trades in shares of companies included in the Index), and any hedging and trading activities we, MLPF&S, 
 BofAS or our or their respective affiliates engage in for our clients’ accounts, may affect the market value of, and return on, the notes and may create conflicts of interest with you.                                             |

| ■ | There may be potential conflicts of interest involving the calculation agents, one of which is us and one of which is BofAS, as the determinations made by the calculation agents may be discretionary and could adversely affect any payment 
 on the notes.                                                                                                                                                                                                                                 |

General Credit-Related Risks

| ■ | Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to affect the value of the notes. If we become unable to meet our financial obligations as they become due, you 
 may lose some or all of your investment.                                                                                                                                                                                                   |

Tax-Related Risks

| ■ | The U.S. federal income tax consequences of the notes are uncertain and, because of this uncertainty, there is a risk that the U.S. federal income tax consequences of the notes could differ materially and adversely from the treatment        
 described below in “Supplemental Discussion of U.S. Federal Income Tax Consequences”, as described further in product supplement EQUITY STR-1 under “Material U.S. Federal Income Tax Consequences — Alternative Treatments”. You should consult 
 your tax advisor as to the tax consequences of an investment in the notes and the potential alternative treatments.                                                                                                                              |

| ■ | For a discussion of the Canadian federal income