Company: TDBCP
Filing Date: 2025-10-03
Form Type: 424B2
Source: 0001140361-25-037191
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-03
Form: 424B2
Chunk 7
---
 Notes. For additional information, see “Information Regarding the Reference Assets” in this pricing supplement. Investors Are Exposed to the Market Risk of Each Reference Asset on the Call Observation Date and the Final Valuation Date. Your return on the Notes is not linked to a basket consisting of the Reference Assets. Rather, it will be contingent upon the performance of each Reference Asset. Unlike an instrument with a return linked to a basket of indices, common stocks or other underlying securities, in which risk is mitigated and diversified among all of the components of the basket, you will be exposed equally to the risks related to each Reference Asset on the Call Observation Date and the Final Valuation Date. Poor performance by any Reference Asset over the term of the Notes will negatively affect your return and will not be offset or mitigated by a positive performance by any other Reference Asset. For instance, if the Notes are not automatically called and the Final Value of any Reference Asset is less than its Barrier Value on its Final Valuation Date, you will receive a negative return equal to the Least Performing Percentage Change, even if the Percentage Change of another Reference Asset is positive or has not declined as much. Accordingly, your investment is subject to the market risk of each Reference Asset. Because the Notes Are Linked to the Least Performing Reference Asset, You Are Exposed to a Greater Risk of Receiving No Positive Return and of Losing a Significant Portion or All of Your Initial Investment at Maturity Than if the Notes Were Linked to a Single Reference Asset or Fewer Reference Assets. The risk that the Notes will not be automatically called and that you will lose a significant portion or all of your initial investment in the Notes at maturity is greater if you invest in the Notes than the risk of investing in substantially similar securities that are linked to the performance of only one Reference Asset or fewer Reference Assets. With more Reference Assets, it is more likely that the Final Value of any Reference Asset will be less than its Barrier Value on the Final Valuation Date than if the Notes were linked to a single Reference Asset or fewer Reference Assets. In addition, the lower the correlation is between the performance of a pair of Reference Assets, the more likely it is that one of the Reference Assets will decline to a Final Value that is less than its Barrier Value on the Final Valuation Date. Although the correlation of the Reference Assets’ performance may change over the term of the Notes, the economic terms of the Notes, including the Call Return, Barrier Values and Leverage Factor, are determined, in part, based on the correlation