Company: TDBCP
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001140361-25-044158
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-03
Form: 424B2
Chunk 13
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 redeem the securities prior to maturity, you should be willing to hold your securities to maturity. If you                                             
 are able to sell your securities prior to maturity in the secondary market, you may have to sell them at a loss relative to your investment even if the then-current levels of all of the underlying indices are greater than or equal to their 
 respective downside threshold levels.                                                                                                                                                                                                           |

| ◾ | You may not receive any contingent quarterly coupons.TD will not necessarily make periodic payments on the securities. If the index closing value ofanyof                                                                                       
 the underlying indices on any determination date is less than its coupon threshold level, TD will not pay you the contingent quarterly coupon applicable to such determination date. If the index closing value of any underlying index on each 
 determination date is less than its coupon threshold level, TD will not pay you any contingent quarterly coupons during the term of, and you will not receive a positive return on, your securities. Generally, this non-payment of the         
 contingent quarterly coupon coincides with a period of greater risk of principal loss on your securities. Because there is more than one underlying index, it is more likely that you will (a) not receive any contingent quarterly coupons     
 and/or (b) receive an amount in cash that is worth less than your stated principal amount on the maturity date than would have been the case had the securities been linked to only one underlying index.                                       |

| ◾ | Greater expected volatility with respect to, and lower expected correlation of, the underlying indices generally reflects a higher contingent quarterly coupon and a higher expectation as of the pricing                                        
 date that the index closing value of any of the underlying indices could be less than its downside threshold level.Greater expected volatility with respect to, and lower expected correlation of, the underlying indices reflects a             
 higher expectation as of the pricing date that the final index value of any of the underlying indices could be less than its downside threshold level. “Volatility” refers to the frequency and magnitude of changes in the level of an asset or 
 group of assets. This greater expected risk will generally be reflected in a higher contingent quarterly coupon for that security than would have been the case if expected volatility of the underlying indices been lower. However, while the  
 contingent quarterly coupon is set on the pricing date based, in part, on the correlations of the underlying indices and each underlying index’s volatility calculated using our internal models, an underlying index’s volatility, and the      
 correlation of the underlying indices, can change significantly over the term of the securities. The level of any underlying