Company: TDBCP
Filing Date: 2025-08-14
Form Type: 424B2
Source: 0001140361-25-031146
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-14
Form: 424B2
Chunk 15
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 Notes, secondary market prices of your Notes
    will likely be less than the public offering price of your Notes. As a result, the price at which TDS, other affiliates of ours or third parties may be willing to purchase the Notes from you in secondary market transactions, if any, will likely be less
    than the price you paid for your Notes, and any sale prior to the Maturity Date could result in a substantial loss to you.

The Temporary Price at Which TDS May Initially Buy the Notes in the Secondary Market May Not Be Indicative of Future Prices of Your Notes.

Assuming that all relevant factors remain constant after the Pricing Date, the price at which TDS may initially buy or sell the Notes in the secondary market (if TDS makes a market in
    the Notes, which it is not obligated to do) may exceed the estimated value of the Notes on the Pricing Date, as well as the secondary market value of the Notes, for a temporary period after the Pricing Date of the Notes, as discussed further under
    “Additional Information Regarding the Estimated Value of the Notes.” The price at which TDS may initially buy or sell the Notes in the secondary market may not be indicative of future prices of your Notes.

The Market Value of Your Notes May Be Influenced by Many Unpredictable Factors.

When we refer to the market value of your Notes, we mean the value that you could receive for your Notes if you chose to sell them in the open market before the Maturity Date. A
    number of factors, many of which are beyond our control, will influence the market value of your Notes, including:**

| ● | the levels of the Basket Components; |

| ● | the volatility – i.e., the frequency and magnitude of changes – in the level of the Basket; |

| ● | the dividend rates, if applicable, of the Basket Component Constituents; |

| ● | economic, financial, regulatory and political, military, public health or other events that may affect the prices of any of the Basket Component Constituents and thus the level of the Basket; |

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| ● | the correlation among the Basket Components; |

| ● | interest rates and yield rates in the market; |

| ● | the time remaining until your Notes mature; |

| ● | any fluctuations in the exchange rate between currencies in which the Basket Component Constituents are quoted and traded and the U.S. dollar, as applicable; and |

| ● | our creditworthiness,