Company: TDBCP
Filing Date: 2025-11-07
Form Type: 424B2
Source: 0001140361-25-041067
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-07
Form: 424B2
Chunk 0
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The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion. Dated November 7, 2025

| Autocallable Contingent Buffer Notes Linked to thecommon stock of Meta Platforms, Inc. Due on or about November 12, 2027 | The Toronto-Dominion Bank |
|:-------------------------------------------------------------------------------------------------------------------------|:--------------------------|
| Senior Debt Securities, Series H                                                                                         |                           |

General

| • | The Notes are designed for investors who (i)(a) wish to receive a return equal to the Call Premium (as defined below) if on the Review Date, the Closing Price of the common stock of Meta Platforms, Inc. (the                     
 “Reference Asset”) isgreater than or equal tothe Call Price (as defined below) or (b) if the Notes are not subject to an automatic call following the Review Date and the the Closing Price of the                                  
 Reference Asset on the Final Valuation Date (the “Final Price”) isgreater than or equal tothe Initial Price (as defined below), seek a return equal to thegreater                                                                   
 of(1) the Digital Return (as defined below) and (2) the percentage increase of the Reference Asset from the Initial Price (as defined below) to the Final Price, (ii) are willing to accept the risk of losing some or all of their 
 Principal Amount and (iii) are willing to forgo interest and dividend payments.                                                                                                                                                     |

| • | If the Notes are not subject to an automatic call and the Final Price is less than the Initial Price by more than 25.00%, investors will lose approximately 1.3333% of the Principal Amount of the Notes for each 
 1% decrease from the Initial Price to the Final Price of more than 25.00%, and may lose some or all of the Principal Amount.                                                                                      |

| • | Any payments on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                   | The Toronto-Dominion Bank (“TD”)                                                                                                                                                                                                             |
| Reference Asset:          | The common stock of Meta Platforms, Inc. (Bloomberg ticker: “META”)                                                                                                                                                                          |
| Principal Amount:         | $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of