Company: TDBCP
Filing Date: 2025-07-03
Form Type: 424B3
Source: 0001140361-25-024821
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-03
Form: 424B3
Chunk 7
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| ◾ | While we, MLPF&S, BofAS or our or their respective affiliates may from time to time own securities of companies included in the Index, none of us, MLPF&S, BofAS or our or their respective affiliates control any company 
 included in the Index, and have not verified any disclosure made by any such company.                                                                                                                                      |

| ◾ | The value of, and your return on, the notes may be affected by factors affecting the international securities markets, specifically changes in the countries represented by the Index. In addition, you will not obtain the benefit of      
 any increase in the value of the currencies in which the securities in the Index trade against the U.S. dollar which you would have received if you had owned the securities in the Index during the term of your notes, although the level 
 of the Index may be adversely affected by general exchange rate movements in the market.                                                                                                                                                    |

Valuation- and Market-Related Risks

| ◾ | The initial estimated value of your notes on the pricing date will be less than their public offering price. The difference between the public offering price of your notes and the initial estimated value of the notes reflects costs      
 and expected profits associated with selling and structuring the notes, as well as hedging our obligations under the notes (including, but not limited to, the hedging related charge, as further described under “Structuring the Notes” on 
 page TS-13). Because hedging our obligations entails risks and may be influenced by market forces beyond our control, this hedging may result in a profit that is more or less than expected, or a loss and the amount of any such profit or 
 loss will not be known until the maturity date.                                                                                                                                                                                              |

| ◾ | The initial estimated value of your notes is based on our internal funding rate. The internal funding rate used in the determination of the initial estimated value of the notes generally represents a discount from the credit spreads     
 for our conventional fixed-rate debt securities and the borrowing rate we would pay for our conventional fixed-rate debt securities. This discount is based on, among other things, our view of the funding value of the notes as well as    
 the higher issuance, operational and ongoing liability management costs of the notes in comparison to those costs for our conventional fixed-rate debt, as well as estimated financing costs of any hedge positions (including, but not      
 limited to, the hedging related charge, as further described under “Structuring the Notes” on page TS-13), taking