Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 34

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 34
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 of that power, any assets and liabilities of the Bank that are not transferred to the bridge institution would remain with the Bank, which would then be wound up. In such a scenario, any liabilities of the Bank, including any outstanding Notes, that are not assumed by the bridge institution could receive only partial or no repayment in the ensuing wind-upof the Bank. There is no limitation on the type of Order that may be made where it has been determined that the Bank has ceased, or is about to cease, to be viable. As a result, a holder of Notes or Series 33 Shares may be exposed to losses through the use of Canadian bank resolution powers other than a Contingent Conversion or in liquidation. As a result, a holder of Notes or Series 33 Shares may lose all of its investment, including the principal amount plus any accrued dividends or interest, if the CDIC were to take action under the Canadian bank S-18

resolution powers, and any Common Shares into which the Notes or Series 33 Shares are converted upon the occurrence of a Trigger Event, a Contingent Conversion or in connection with a Recourse
Event that is a Trigger Event, may be of little value at the time of a Contingent Conversion and thereafter.

The Notes are direct,
unsecured subordinated indebtedness of the Bank which, if the Bank becomes insolvent or is wound-up (prior to the occurrence of a Trigger Event), will rank: (a) subordinate in right of payment to the
prior payment in full of all Higher Ranked Indebtedness and (b) in right of payment equally with and not prior to the Junior Deeply Subordinated Indebtedness (other than the Junior Deeply Subordinated Indebtedness which by its terms ranks
subordinate to the Notes), in each case, from time to time outstanding, and will be subordinate in right of payment to all of the Bank’s deposit liabilities and the Bank’s other unsubordinated creditors. For the avoidance of doubt, the
Junior Deeply Subordinated Indebtedness includes the Notes. If the Bank becomes insolvent or is wound-up while the Notes remain outstanding, the Bank’s assets must be used to pay deposit liabilities and
prior and senior ranking indebtedness before payments may be made on the Notes, other subordinated indebtedness, the Series 33 Shares and the Common Shares. Subject to the Bank’s regulatory capital requirements, there is no limit on the
Bank’s ability to incur additional subordinated debt. In addition, the terms