Company: TDBCP
Filing Date: 2025-08-29
Form Type: 424B2
Source: 0001140361-25-033346
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-29
Form: 424B2
Chunk 12
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 factors and/or the number of outstanding shares are implemented and made effective more quickly. The timing depends on the magnitude of the change. Each component’s weight is capped at 10% of the SX5E’s total free float market capitalization. The free float factor reduces the underlier stock’s number of shares to the actual amount available on the market. All holdings that are larger than five percent of the total outstanding number of shares and held on a long-term basis are excluded from the index calculation (including, but not limited to, stock owned by the company itself, stock owned by governments, stock owned by certain individuals or families, and restricted shares).

| Accelerated Return Notes® | TS-8 |

| Accelerated Return Notes®                            
 Linked to the EURO STOXX 50®Index due November, 2026 |

Index Calculation STOXX calculates the SX5E using the “Laspeyres formula,” which measures the aggregate price changes in the underlier stocks against a fixed base quantity weight. The discussion below describes the “price return” calculation of the SX5E. The applicable pricing supplement will describe the calculation of the SX5E if the underlier for your notes is not the price return calculation. The formula for calculating the SX5E value can be expressed as follows:

| SX5E | = | Free Float Market Capitalization of the SX5E |
|      |   | Divisor                                      |

The “free float market capitalization of the SX5E” is equal to the sum of the product of the price, the number of shares, the free float factor and the weighting cap factor for each underlier stock as of the time the SX5E is being calculated. The index stocks trade in Euros and thus, no currency conversion is required. Where any index component stock price is unavailable on any trading day, the underlier sponsor will generally use the last reported price for such component stock. In case the investability and tradability of the index and index based products is affected by an upcoming market or company event that is considered significant or “extreme” by the STOXX Management Board, the following actions or a combination of the following actions are taken. For all such changes a minimum notification period of two full trading days will be observed. The action scope may include but is not limited to:

| ● | application of expert judgment for index component pricing data, |

| ● | adjustment of operational procedures, |

| ● | postponement of index adjustments, |

| ● | adjustment of selection lists,