Company: TDBCP
Filing Date: 2025-05-27
Form Type: 424B2
Source: 0001140361-25-020471
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-27
Form: 424B2
Chunk 14
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 the value of your
    Notes, including the price you may receive for your Notes in any market making transaction. To the extent that GS&Co. makes a market in the Notes, the quoted price will reflect the estimated value determined by reference to GS&Co.’s pricing
    models at that time, plus or minus GS&Co.’s then current bid and ask spread for similar sized trades of structured notes (and subject to the declining excess amount described above).

Furthermore, if you sell your Notes, you will likely be charged a commission for secondary market transactions, or the price will likely reflect a dealer discount. This commission or
    discount will further reduce the proceeds you would receive for your Notes in a secondary market sale.

There is no assurance that GS&Co. or any other party will be willing to purchase your Notes at any price and, in this regard, GS&Co. is not obligated to make a market in the
    Notes. See “—There May Not Be an Active Trading Market for the Notes — Sales in the Secondary Market May Result in Significant Losses” herein.

The Market Value of Your Notes May Be Influenced by Many Unpredictable Factors.

When we refer to the market value of your Notes, we mean the value that you could receive for your Notes if you chose to sell them in the open market before the Maturity Date. A
    number of factors, many of which are beyond our control, will influence the market value of your Notes, including:**

| • | the level of the Reference Asset; |

| • | the volatility – i.e., the frequency and magnitude of changes – in the level of the Reference Asset; |

| • | the dividend rates, if applicable, of the Reference Asset Constituents; |

| • | economic, financial, regulatory and political, military, public health or other events that may affect the prices of any of the Reference Asset Constituents and thus the level of the Reference Asset; |

| • | interest rates and yield rates in the market; |

| • | the time remaining until your Notes mature; |

| • | any fluctuations in the exchange rate between currencies in which the Reference Asset Constituents are quoted and traded and the U.S. dollar, as applicable; and |

| • | our creditworthiness, whether actual or perceived, and including actual or anticipated upgrades or downgrades in our credit ratings or changes in other credit measures. |

These factors will influence the price you will receive if you sell your Notes before maturity