Company: TDBCP
Filing Date: 2025-09-26
Form Type: 424B2
Source: 0001140361-25-036325
Chunk: 28

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-26
Form: 424B2
Chunk 28
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 coupon, you should generally recognize capital gain or loss upon the taxable disposition (including cash settlement) of                                                  
 your securities in an amount equal to the difference between the amount you receive at such time (other than amounts or proceeds attributable to a contingent quarterly coupon or any amount attributable to any accrued but unpaid contingent   
 quarterly coupon) and the amount you paid for your securities. Such gain or loss should generally be long-term capital gain or loss if you have held your securities for more than one year (and, otherwise short-term capital gain or loss).    
 The deductibility of capital losses is subject to limitations. Although uncertain, it is possible that proceeds received from the taxable disposition of your securities prior to a contingent coupon payment date, but that could be attributed 
 to an expected contingent quarterly coupon, could be treated as ordinary income. You should consult your tax advisor regarding this risk.                                                                                                        |
| Except to the extent otherwise required by law, TD intends to treat your securities for U.S. federal income tax purposes in accordance with the treatment described above and under “Material                                                    
 U.S. Federal Income Tax Consequences” in the accompanying product supplement unless and until such time as the IRS and the Treasury determine that some other treatment is more appropriate.                                                     |
| Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, is of the opinion that it would                                                                           
 be reasonable to treat your securities in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the securities, it is possible that your securities could alternatively be treated 
 for tax purposes as a single contingent payment debt instrument, or pursuant to some other characterization, such that the timing and character of your income from the securities could differ materially and adversely from the treatment      
 described above, as described further under “Material U.S. Federal Income Tax Consequences” in the accompanying product supplement.                                                                                                              |
| Section 1297.We will not attempt to ascertain whether any index constituent stock issuer would be treated as a “passive foreign investment company”                                                                                              
 (a “PFIC”) within the meaning of Section 1297 of the Code. If any such entity were so treated, certain adverse U.S. federal income tax consequences might apply upon the taxable disposition of a security. U.S. holders should refer to         
 information filed with the SEC or the equivalent governmental authority by such entities and consult their tax advisors regarding the possible consequences to them if any such entity is or becomes