Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 15
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 redeem a corresponding number of Notes shall be deemed satisfied.            |

S-4

| The Bank will not redeem the Notes under any circumstances if such redemption would, directly or indirectly, result in the Bank’s breach of any provision of the Bank Act or the OSFI Guideline for Capital Adequacy 
 Requirements, as may be amended from time to time (“CAR Guideline”).                                                                                                                                                 |

| As a result of the redemption provisions applicable to the Series 33 Shares and the Notes, the Limited Recourse Trustee will, at all times prior to a Recourse Event, hold one Series 33 Share for each US$1,000 principal 
 amount of Notes outstanding.                                                                                                                                                                                               |

| Any Notes redeemed by the Bank shall be cancelled and may not be reissued. |

| Contingent Conversion: | Upon the occurrence of a Trigger Event, each outstanding Series 33 Share will automatically and immediately be converted, on a full and permanent basis, without the consent of the holder thereof, into the number of Common Shares determined by 
 the Contingent Conversion formula set out in the “Description of Series 33 Shares–Conversion Upon Occurrence of a Non-Viability Contingent Capital Trigger Event”.                                                                                 |

| Immediately following the Contingent Conversion, pursuant to the limited recourse feature as described in “Description of the Notes—Limited Recourse”, each Noteholder will be entitled to such                                                    
 holder’s proportionate share of the Corresponding Limited Recourse Trust Assets and the Limited Recourse Trustee will deliver to each Noteholder that Noteholder’s proportionate share of the Common Shares issued in connection with the          
 Trigger Event (other than any Dividend Common Shares), and such delivery of Common Shares will exhaust each holder’s remedies against the Bank for repayment of the principal amount of the Notes and any accrued but unpaid interest thereon then 
 due and payable.                                                                                                                                                                                                                                   |

| Risk Factors: | See “Risk Factors” in this prospectus supplement beginning on page S-11 and in the accompanying base prospectus beginning on page 1 and the documents incorporated by reference therein 
 for a discussion of factors you should carefully consider before deciding to invest in the Notes (and the Series 33 Shares or Common Shares upon certain Recourse Events).              |

| Use of Proceeds: | The net proceeds to the Bank from the sale of the Notes, after deducting fees and expenses, will be used for general corporate purposes, which may include the redemption of outstanding capital securities of the Bank and/or the repayment of other 
 outstanding liabilities