Company: TDBCP
Filing Date: 2025-01-22
Form Type: 424B3
Source: 0001140361-25-001585
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-22
Form: 424B3
Chunk 14
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 markets; central bank policies regarding interest rates; and the performance of U.S. and foreign capital markets. The prices of the bonds held by the iShares ®20+ Year Treasury Bond ETF are also significantly influenced by the creditworthiness of the issuer of the bonds (i.e., the U.S. government). The bonds held by the iShares ®20+ Year Treasury Bond ETF may have their credit ratings downgraded or have their credit spreads widen significantly. Following a ratings downgrade or the widening of credit spreads, some or all of such bonds may suffer significant and rapid price declines. Any such decline may have a material adverse effect on the value of the iShares ®20+ Year Treasury Bond ETF and the value of your Notes. Your Investment Is Subject To Concentration Risks. The iShares ®20+ Year Treasury Bond ETF invests in U.S. Treasury bonds that are all obligations of the United States. As a result, the iShares ®20+ Year Treasury Bond ETF is concentrated in the performance of bonds issued by a single issuer that have the same general tenor and terms. Although your investment in the Notes will not result in the ownership or other direct interest in the U.S. Treasury bonds held by the iShares ®20+ Year Treasury Bond ETF, the return on your investment in the Notes will be subject to certain risks similar to those associated with direct investment in a U.S. Treasury bonds. This increases the risk that any downgrade of the credit ratings of the U.S. government from its current ratings, any increase in risk perceived by the market that the U.S. Treasury may default on its obligations (whether for credit or legislative process reasons), any actual default by the U.S. Treasury on its obligations or any other market events that create a decrease in demand for U.S. Treasury bonds would significantly adversely affect the iShares ®20+ Year Treasury Bond ETF and may adversely affect your return on the Notes. The Notes are Subject to Risks Associated with the Energy Sector. The Notes are subject to risks associated with the energy sector because the Energy Select Sector SPDR ®Fund is comprised of the stocks of companies in the energy sector. All or substantially all of the Reference Asset Constituents of the Energy Select Sector SPDR ®Fund are issued by companies whose primary lines of business are directly associated with the energy sector, and its assets will be concentrated in the energy sector, which means that it will be more affected by the performance of the energy sector than a fund that is more diversified. Energy companies typically develop and produce crude oil