Company: TDBCP
Filing Date: 2025-01-29
Form Type: 424B2
Source: 0001140361-25-002331
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-29
Form: 424B2
Chunk 12
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 Notes will not be listed or displayed on any securities exchange or any electronic communications network. The Agent or another of our
    affiliates may make a market for the Notes; however, they are not required to do so and may stop any market-making activities at any time. Even if a secondary market for the Notes develops, it may not provide significant liquidity or trade at prices
    advantageous to you. We expect that transaction costs in any secondary market would be high. As a result, the difference between bid and ask prices for your Notes in any secondary market could be substantial. If you sell your Notes before the Maturity
    Date, you may have to do so at a substantial discount from the public offering price irrespective of the price of the Reference Asset at such time, and as a result, you may suffer substantial losses.

If the Price of the Reference Asset Changes, the Market Value of Your Notes May Not Change in the Same Manner.

Your Notes may trade quite differently from the performance of the Reference Asset. Changes in the price of the Reference Asset may not result in a comparable change in the market value of your Notes.
    Even if the price of the Reference Asset increases to above the Initial Price during the term of the Notes, or declines to a price that is less than the Initial Price but greater than or equal to the Buffer Price, the market value of your Notes may not
    increase and could decline.**

| TD SECURITIES (USA) LLC | P-6 |

<div align='center'>**Risks Relating to Hedging Activities and Conflicts of Interest**</div>

**There Are Potential Conflicts of Interest Between You and the Calculation Agent.

The Calculation Agent will, among other things, determine any amount payable and/or deliverable on the Notes. We will serve as the Calculation Agent and may appoint a different Calculation Agent after
    the Issue Date without notice to you. The Calculation Agent will exercise its judgment when performing its functions. For example, the Calculation Agent may have to determine whether a Market Disruption Event affecting the Reference Asset has occurred,
    which may, in turn, depend on the Calculation Agent’s judgment as to whether the event has materially interfered with our ability or the ability of one of our affiliates to unwind our hedge positions. Because this determination by the Calculation Agent
    may affect any amount payable and/or deliverable in respect of the Notes, the Calculation Agent may have a conflict of interest if it needs to make a determination of this kind. For additional information as to the Calculation Agent