Company: TDBCP
Filing Date: 2025-11-10
Form Type: 424B2
Source: 0001140361-25-041339
Chunk: 26

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-10
Form: 424B2
Chunk 26
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 industry and/or sector weightings may be made available on the XLRE Fund’s website. Expenses of the XLRE Fund reduce the net asset value of the assets held by the XLRE Fund and, therefore, reduce the value of the shares of the XLRE Fund. In seeking to track the performance of the target index, the XLRE Fund employs a replication strategy, which means that the XLRE Fund typically invests in substantially all of the securities represented in the target index in approximately the same proportions as the target index. Under normal market conditions, the XLRE Fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the target index. In addition, the XLRE Fund may invest in cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by SSGA). Shares of the XLRE Fund are listed on the NYSE Arca under the ticker symbol “XLRE”. Information from outside sources including, but not limited to the prospectus related to the XLRE 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 XLRE Fund or the target index. Information filed by Select Sector SPDR with the SEC, including the prospectus for the XLRE Fund, can be found by reference to its SEC file numbers: 333-57791 and 811-08837 or its CIK Code: 0001064641.

| TD SECURITIES (USA) LLC | P-20 |

Historical Information The graph below illustrates the performance of XLRE from November 7, 2015 through November 7, 2025. The dotted line represents its Contingent Interest Barrier Value and Barrier Value of $28.889, which is equal to 70.00% of its Initial Value. Real Estate Select Sector SPDR ®Fund (XLRE) PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

| TD SECURITIES (USA) LLC | P-21 |

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