Company: TDBCP
Filing Date: 2025-10-16
Form Type: 424B2
Source: 0001140361-25-038262
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-16
Form: 424B2
Chunk 6
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 the contingent interest and Issuer Call features of the Notes, you will bear greater exposure to fluctuations in interest rates than if you purchased notes without such features. In particular, you may be negatively affected if prevailing interest rates begin to rise and the Contingent Interest Rate is, therefore, less than the amount of interest you could earn on other investments with a similar level of risk available at such time. In addition, if you tried to sell your Notes at such time, the value of your Notes in any secondary market transaction would also be adversely affected. Conversely, in the event that prevailing interest rates are low relative to the Contingent Interest Rate and TD elects to call the Notes, there is a lower likelihood that you will be able to reinvest the proceeds from an investment in the Notes at a comparable rate of return for a similar level of risk.

| TD SECURITIES (USA) LLC | P-6 |

The Amounts Payable on the Notes Are Not Linked to the Value of the Reference Assets at Any Time Other Than on the Contingent Interest Observation Dates (Including the Final Valuation Date). Any payments on the Notes will be based on the Closing Value of the Reference Assets only on the Contingent Interest Observation Dates (including the Final Valuation Date). Even if the value of a Reference Asset appreciates prior to a Contingent Interest Observation Date but then drops on that day to a Closing Value that is less than its Contingent Interest Barrier Value, you will not receive any Contingent Interest Payment with respect to such Contingent Interest Observation Date. Although the actual values of the Reference Assets at other times during the term of the Notes may be higher than the values on one or more Contingent Interest Observation Dates (including the Final Valuation Date), any Contingent Interest Payments on the Notes and the Payment at Maturity will be based solely on the Closing Value of the Reference Assets on the applicable Contingent Interest Observation Date (including the Final Valuation Date). The Contingent Interest Rate Will Reflect, in Part, the Volatility of Each Reference Asset. Generally, the higher a Reference Asset’s volatility, the more likely it is that the Closing Value of that Reference Asset could be less than its Contingent Interest Barrier Value on a Contingent Interest Observation Date. Volatility means the magnitude and frequency of changes in the value of a Reference Asset. This greater risk will generally be reflected in a higher Contingent Interest Rate for the Notes than the interest rate payable on our conventional debt