Company: TDBCP
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001140361-25-044158
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-03
Form: 424B2
Chunk 15
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, the Nasdaq-100 Index®and the S&P 500®Index 
 Principal at Risk Securities                                                                          |

| ◾ | An investment in securities with contingent quarterly coupon and optional early redemption features may be more sensitive to interest rate risk than an investment in securities without such features.Because of the issuer call and contingent quarterly coupon features of the securities, you will bear greater exposure to fluctuations in interest rates than if you purchased securities without such features. In particular, you may be 
 negatively affected if prevailing interest rates begin to rise as discussed in the preceding risk factor, and the contingent quarterly coupon rate on the securities may be less than the amount of interest you could earn on other investments                                                                                                                                                                                                 
 with asimilarlevel of risk available at such time. In addition, if you tried to sell your securities at such time, the value of your securities in any secondary market transaction would also be                                                                                                                                                                                                                                                
 adversely affected. Conversely, in the event that prevailing interest rates are low relative to the contingent quarterly coupon rate and TD elects to redeem the securities, there is no guarantee that you will be able to reinvest the                                                                                                                                                                                                         
 proceeds from an investment in the securities at a comparable rate of return for a similar level of risk.                                                                                                                                                                                                                                                                                                                                        |

| ◾ | The contingent quarterly coupon, if any, is based solely on the index closing value of each underlying index on only the related determination date.Whether                                                                                   
 the contingent quarterly coupon will be paid on any contingent coupon payment date will be based on the index closing value of each underlying index on the relevant quarterly determination date. As a result, you will not know whether you 
 will receive the contingent quarterly coupon on any determination date until the related determination date. Moreover, because the contingent quarterly coupon is based solely on the value of each underlying index on a specific            
 determination date, if the index closing value of any underlying index on any determination date is below its coupon threshold level, you will not receive the contingent quarterly coupon with respect to such determination date, even if   
 the level of such underlying index was greater than or equal to its respective coupon threshold level on other trading days during the term of the securities, and even if the index closing value of the other underlying indices were at or 
 above the coupon threshold levels.                                                                                                                                                                                                            |

| ◾ | Your potential return on the securities is limited, you will not participate in any increase of the underlying indices and you will not realize a return beyond the returns represented by the contingent                                        
 quarterly coupons received, if any, during the term of the securities.The