Company: TDBCP
Filing Date: 2025-08-04
Form Type: 424B2
Source: 0001140361-25-028635
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-04
Form: 424B2
Chunk 12
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 a discount from the credit spreads for our         
 conventional, fixed-rate debt Buffered PLUS and the borrowing rate we would pay for our conventional, fixed-rate debt Buffered PLUS. This discount is based on, among other things, our view of the funding value of the Buffered PLUS as well 
 as the higher issuance, operational and ongoing liability management costs of the Buffered PLUS in comparison to those costs for our conventional, fixed-rate debt, as well as estimated financing costs of any hedge positions, taking into   
 account regulatory and internal requirements. If the interest rate implied by the credit spreads for our conventional, fixed-rate debt Buffered PLUS, or the borrowing rate we would pay for our conventional, fixed-rate debt Buffered PLUS   
 were to be used, we would expect the economic terms of the Buffered PLUS to be more favorable to you. Additionally, assuming all other economic terms are held constant, the use of an internal funding rate for the Buffered PLUS is expected 
 to increase the estimated value of the Buffered PLUS at any time.                                                                                                                                                                              |

| ◾ | The estimated value of the Buffered PLUS is based on our internal pricing models, which may prove to be inaccurate and may                                                                                                                       
 be different from the pricing models of other financial institutions.The estimated value of your Buffered PLUS is based on our internal pricing models when the terms of the Buffered PLUS are set, which take into account a number             
 of variables, such as our internal funding rate on the pricing date, and are based on a number of subjective assumptions, which are not evaluated or verified on an independent basis and may or may not materialize. Further, our pricing       
 models may be different from other financial institutions’ pricing models and the methodologies used by us to estimate the value of the Buffered PLUS may not be consistent with those of other financial institutions that may be purchasers or 
 sellers of Buffered PLUS in the secondary market. As a result, the secondary market price of your Buffered PLUS may be materially less than the estimated value of the Buffered PLUS determined by reference to our internal pricing models. In  
 addition, market conditions and other relevant factors in the future may change, and any assumptions may prove to be incorrect.                                                                                                                  |

| ◾ | The estimated value of your Buffered PLUS is not a prediction of the prices at which you may sell your Buffered PLUS in the                                                                                                                      
 secondary market, if any, and such secondary market prices, if any, will likely be less than the public offering price of your Buffered PLUS and may be less than the estimated value of your Buffered PLUS.The estimated value of               
 the Buffered PLUS is