Company: TDBCP
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001140361-25-006726
Chunk: 61

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-03
Form: 424B3
Chunk 61
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 of your LIRNs based upon the yield at which we would issue a non-contingent fixed-rate debt instrument with other terms and conditions similar to your LIRNs. You would recognize gain or loss upon the taxable disposition of your LIRNs in an amount equal to the difference, if any, between the amount you receive at such time and your PS-46 adjusted basis in your LIRNs. In general, your adjusted basis in your LIRNs would be equal to the amount you paid for your LIRNs, increased by the amount of interest you previously accrued with respect to your LIRNs. Any gain you recognize upon the taxable disposition of your LIRNs would be ordinary income and any loss recognized by you at such time would be ordinary loss to the extent of interest you included in income in the current or previous taxable years in respect of your LIRNs, and thereafter, would be capital loss. Contingent Short-Term Debt Instrument.Similarly, if LIRNs have a term of one year or less, it is possible that LIRNs could be treated as contingent short-term debt instruments. However, there are no specific rules that govern contingent short-term debt instruments and, therefore, if LIRNs were characterized as contingent short-term debt instruments, the U.S. federal income tax treatment of LIRNs would not be entirely clear. U.S. holders should consult their tax advisors as to the tax consequences of such characterization. Other Alternative Treatments.The IRS could also possibly assert that (i) you should be treated as owning the Market Measure, any Basket Components or the the Underlying Constituents, (ii) any gain or loss that you recognize upon the taxable disposition of LIRNs should be treated as ordinary gain or loss or short-term capital gain or loss, (iii) you should be required to accrue interest income over the term of your LIRNs, (iv) you should be required to include in ordinary income an amount equal to any increase in the Market Measure, any Basket Components or any Underlying Constituent that is attributable to ordinary income that is realized in respect of the Market Measure, any Basket Components or any Underlying Constituent, such as interest, dividends or net rental income or (v) you should be required to recognize taxable gain upon a rollover, rebalancing or change, if any, of the Market Measure or any Basket Component. U.S. holders should consult their tax advisors as to the tax consequences of such characterization and any possible alternative characterizations of