Company: TDBCP
Filing Date: 2025-01-02
Form Type: 424B2
Source: 0001140361-25-000036
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-02
Form: 424B2
Chunk 14
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 a Payment at Maturity of $10,800.00, a return of 8.00% on the Notes.                                               |                                                                  |
| Example 4 — | Calculation of the Payment at Maturity where the Final Price is less than the Buffer Price.                                                                                                                      |                                                                  |
|             | Final Price:                                                                                                                                                                                                     |                                                           $50.00 |
|             | Payment at Maturity:                                                                                                                                                                                             |                         = Physical Delivery Amount × Final Price 
 = 110.3144 × $50.00 = $5,515.72* (Value of the Number of Shares) |
|             | *  Represents the cash value of the Physical Delivery Amount on the Valuation Date. Because the Notes are physically settled, the actual value received and the total return on the Notes on                     
 the Maturity Date depends on the price of the Reference Asset on the Maturity Date.                                                                                                                              
 On a $10,000.00 investment, because the Final Price is less than the Buffer Price, we will deliver a number of shares of the Reference Asset equal to the Physical Delivery Amount, for a total of $5,515.72*, a 
 loss of 44.8428% on the Notes. The actual value of the shares received on the Maturity Date, and the total return on the Notes at that time, depends on the price of the Reference Asset on the Maturity Date.   |                                                                  |

| TD SECURITIES (USA) LLC | P-10 |

| You should note that, because we will deliver the Physical Delivery Amount of the Reference Asset instead of paying an amount in cash at maturity if the Final Price is                                                                         
 less than the Buffer Price, the actual value of the Physical Delivery Amount you receive on the Maturity Date may be less than the payment that you would have received at maturity had we instead paid an amount in cash, as a result of any   
 decrease in the price of the Reference Asset during the period between the Valuation Date and the Maturity Date. For the avoidance of doubt, the value of the Physical Delivery Amount as of the Maturity Date may be worth less than the value 
 of the Physical Delivery Amount calculated using the Final Price due to declines in the price of the Reference Asset from the Valuation Date to the Maturity Date.                                                                              |

The following table illustrates the hypothetical payment and/or delivery per Note that may be realized at maturity for a range of hypothetical Final Prices of the Reference Asset, based on the hypothetical terms set forth above. The hypothetical returns set forth below