Company: TDBCP
Filing Date: 2025-11-03
Form Type: 424B2
Source: 0001140361-25-040106
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-03
Form: 424B2
Chunk 12
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 could be less than its downside threshold level and/or that the index closing value of any underlying index on any trading day during the  
 term of the securities will be less than its coupon threshold level. “Volatility” refers to the frequency and magnitude of changes in the level of an asset or group of assets. This greater expected risk will generally be reflected in a      
 higher contingent quarterly coupon for that security than would have been the case if expected volatility of the underlying indices been lower. However, while the contingent quarterly coupon is set on the pricing date based, in part, on the 
 correlations of the underlying indices and each underlying index’s volatility calculated using our internal models, an underlying index’s volatility, and the correlation of the underlying indices, can change significantly over the term of   
 the securities. The level of any underlying index could fall sharply, which could result in the loss of a significant portion or all of your investment in the securities.                                                                       |

| October 2025 | Page10 |

| $3,210,000 Callable Contingent Income Securities with Daily Coupon Observation and 6-Month Initial Non-Call 
 Period due November 2, 2028                                                                                 |
| Based on the Worst Performing of the Nikkei 225®Index, the Russell 2000®Index and the S&P 500®Index         
 Principal at Risk Securities                                                                                |

| ◾ | TD may elect to redeem the securities at its discretion and the securities are subject to reinvestment risk.TD may elect to redeem the securities at its discretion prior to the maturity date. If                                               
 TD elects to redeem the securities at its discretion prior to maturity, you will no longer have the opportunity to receive any contingent quarterly coupons after the applicable redemption date. The first potential redemption date occurs     
 after approximately six months and therefore you may not have the opportunity to receive any contingent quarterly coupons after approximately six months. In the event that the TD elects to redeem the securities at its discretion prior to    
 maturity, there is no guarantee that you will be able to reinvest the proceeds from an investment in the securities at a comparable rate of return for a similar level of risk. Further, TD’s right to redeem the securities at its discretion   
 may also adversely impact your ability to sell your securities in the secondary market. It is more likely that TD will elect to redeem the securities prior to maturity when the expected contingent quarterly coupons payable on the securities 
 are greater than the interest that would be payable on other instruments issued by TD of comparable maturity, terms and credit rating trading