Company: TDBCP
Filing Date: 2025-08-04
Form Type: 424B2
Source: 0001140361-25-028578
Chunk: 42

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-04
Form: 424B2
Chunk 42
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 to approximate the investment performance of the target index by investing in a portfolio of securities that generally replicates the target index. The SMH Fund normally invests at least 80% of its total assets in securities that comprise the target index. The SMH Fund may concentrate its investments in a particular industry or group of industries to the extent that the target index concentrates in an industry or group of industries. The SMH Fund may or may not hold all of the securities that are included in the target index. Shares of the SMH Fund are listed on the Nasdaq Stock Market under ticker symbol “SMH”. Information from outside sources including, but not limited to the prospectus related to the SMH Fund and any other website referenced in this section, is not incorporated by reference in, and should not be considered part of, this document or any document incorporated herein by reference. We have not undertaken an independent review or due diligence of any publicly available information with respect to the SMH Fund or the target index. Information filed by the SMH Fund with the SEC can be found by reference to its SEC file numbers: 333-123257 and 811-10325 or its CIK Code: 0001137360. Historical Information The graph below illustrates the performance of SMH from August 1, 2015 through August 1, 2025. VanEck ®Semiconductor ETF (SMH) PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

| TD SECURITIES (USA) LLC | P-27 |

Material U.S. Federal Income Tax Consequences The U.S. federal income tax consequences of your investment in the Notes are uncertain. No statutory, regulatory, judicial or administrative authority directly discusses the characterization for U.S. federal income tax purposes of securities with terms that are substantially the same as the Notes. Some of these tax consequences are summarized below, but we urge you to read the more detailed discussion under “Material U.S. Federal Income Tax Consequences” in the product supplements and to discuss the tax consequences of your particular situation with your tax advisor. This discussion is based upon the U.S. Internal Revenue Code of 1986, as amended (the “Code”), final, temporary and proposed U.S. Department of the Treasury (the “Treasury”) regulations, rulings and decisions, in each case, as available and in effect as of the date hereof, all of which are subject to change, possibly with retroactive effect. This discussion applies to you only if you are a U.S