Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B2
Source: 0001140361-25-006265
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Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B2
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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 February 27, 2025.

| Pricing Supplement dated , 2025 to the               
 Product Supplement MLN-EI-1 dated February 26, 2025, 
 Underlier Supplement dated February 26, 2025 and     
 Prospectus Dated February 26, 2025                   | Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

General

| • | The Notes are designed for investors who (i) seek leveraged exposure to a limited range of the percentage increase of the S&P 500®Index (the“Reference                                                                                        
 Asset”) from the Initial Level (as defined below) to the Closing Level of the Reference Asset on the Valuation Date (the “Final Level”), (ii) are willing to accept the risk of losing a significant portion or all of their Principal Amount 
 and (iii) are willing to forgo interest and dividend payments.                                                                                                                                                                                |

| • | Investors will receive their Principal Amount at maturity if the Final Level is equal to or less than the Initial Level by up to 25.00%. If the Final Level is less than the Barrier Level,     
 investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Level is less than the Initial Level, and may lose a significant portion 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 S&P 500®Index (Bloomberg ticker: “SPX”) |
| Principal Amount:       |                                                                       $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $1,000 in excess thereof. |
| Term:                   |         Approximately 3 years. In the event that we make any change to the expected Pricing Date and Issue Date, the Calculation Agent may adjust the Valuation Date and the Maturity 
                                                                                                                   Date, to ensure that the stated term of the Notes remains the same. |
| Pricing Date:           |                                                                                                                                                      Expected to be February 27