Company: TDBCP
Filing Date: 2025-10-22
Form Type: 424B2
Source: 0001140361-25-038902
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-22
Form: 424B2
Chunk 14
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 adversely impact your ability to sell your securities in the secondary market. It is more likely that TD will elect to redeem the securities prior to       
 maturity when the expected contingent quarterly coupons payable on the securities are greater than the interest that would be payable on other instruments issued by TD of comparable maturity, terms and credit rating trading in the market. The 
 greater likelihood of TD electing to redeem the securities in that environment increases the risk that you will not be able to reinvest the proceeds from the redeemed securities in an investment with a similar level of risk and yield. To the  
 extent you are able to reinvest such proceeds in an investment comparable to the securities, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new securities. TD is less likely to elect to  
 redeem the securities prior to maturity when the expected contingent quarterly coupons payable on the securities are less than the interest that would be payable on other comparable instruments issued by TD, which includes when the value of   
 any underlying index is less than its coupon threshold level. Therefore, the securities are more likely to remain outstanding when the expected amount payable on the securities is less than what would be payable on other comparable            
 instruments and when your risk of not receiving a contingent quarterly coupon is relatively higher.                                                                                                                                                |

| ◾ | 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