Company: TDBCP
Filing Date: 2025-10-21
Form Type: 424B2
Source: 0001140361-25-038687
Chunk: 10

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-21
Form: 424B2
Chunk 10
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 and no such entity will be involved in the offering of the Notes in any way. Consequently, we have no control over the actions of any Index Sponsor or Investment Adviser, including any actions of the type that would require the Calculation Agent to adjust any amount payable on the Notes. No Index Sponsor or Investment Adviser has any obligation of any sort with respect to the Notes. Thus, no Index Sponsor or Investment Adviser has any obligation to take your interests into consideration for any reason, including in taking any actions that might affect the value of the applicable Reference Asset or the Notes. None of our proceeds from the issuance of the Notes will be delivered to any Index Sponsor or Investment Adviser. Adjustments to a Reference Asset Could Adversely Affect the Notes. The Investment Advisers (as specified under “Information Regarding the Reference Assets”) are responsible for calculating and maintaining their applicable Reference Asset. An Investment Adviser can add, delete or substitute the Reference Asset Constituents for its Reference Asset. An Investment Adviser may make other methodological changes to its Reference Asset that could change the value of such Reference Asset at any time. If one or more of these events occurs, the Closing Value of such Reference Asset may be adjusted to reflect such event or events, which could adversely affect whether and the extent to which any amounts may be payable on the Notes and/or the market value of the Notes.

| TD SECURITIES (USA) LLC | P-9 |

The iShares ®Silver Trust Holds Only A Single Commodity and its Performance May Be More Volatile Than That of an ETF With More Diversified Holdings The iShares ®Silver Trust is an ETF that holds only a single commodity. Such ETF’s holdings lack diversification and do not have the benefit of other offsetting components that may increase when other components are decreasing. Because such ETF holds only a single commodity, the performance of such ETF may be more volatile than that of an ETF that holds multiple commodities or a broad -based commodity index, and the price of the constituents of such ETF may not correlate with, and may diverge significantly from, the prices of commodities generally. There are Risks in Securities Relating to Commodities Trading on the London Bullion Market Association. The value of the iShares ®Silver Trust is closely related to the price of silver. Silver is traded on the London Bullion Market Association (“LBMA”). The LBMA is a self-regulated association of bullion market participants. Although all market-making members of the LBMA are supervised by the Bank of