Company: TDBCP
Filing Date: 2025-07-01
Form Type: 424B2
Source: 0001140361-25-024347
Chunk: 17

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-01
Form: 424B2
Chunk 17
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 not subject to a minimum threshold for implementation and are implemented when the transaction occurs. At the Index sponsor’s discretion, however, de minimis merger and acquisition
    changes may be accumulated and implemented with the updates made with the quarterly share updates as described below. Material share/IWF changes resulting from certain non-mandatory corporate actions follow the accelerated implementation rule.
    Non-material share/IWF changes are implemented quarterly.

Accelerated Implementation Rule

1. Public offerings. Public offerings of new company-issued shares and/or existing shares offered by selling shareholders, including block sales and spot secondaries, will be eligible for accelerated
    implementation treatment if the size of the event meets the materiality threshold criteria:

| (a) | at least US $150 million, and |

| (b) | at least 5% of the pre-event total shares. |

In addition to the materiality threshold, public offerings must satisfy the following conditions:

| ● | be underwritten. |

| ● | have a publicly available prospectus, offering document, or prospectus summary filed with the relevant authorities. |

| ● | have a publicly available confirmation from an official source that the offering has been completed. |

For public offerings that involve a concurrent combination of new company shares and existing shares offered by selling shareholders, both events are implemented if either of the public offerings
    represent at least 5% of total shares and $150 million. Any concurrent share repurchase by the affected company will also be included in the implementation.

2. Dutch Auctions, self-tender offer buybacks, and split-off exchange offers. These nonmandatory corporate action types will be eligible for accelerated implementation treatment regardless of size once
    their results are publicly announced and verified by S&P.

Exception to the Accelerated Implementation Rule

For non-mandatory corporate actions subject to the accelerated implementation rule with a size of at least US $1 billion, S&P will apply the share change, and any resulting IWF change, using the
    latest share and ownership information publicly available at the time of the announcement, even if the offering size is below the 5% threshold. This exception ensures that very large events are recognized in a timely manner using the latest available
    information.

All non-mandatory events not covered by the accelerated implementation rule (including but not limited to private placements, acquisition of private companies, and conversion of non-index share lines)
    will be implemented quarterly coinciding with the third Friday of the third month in each calendar quarter. In addition, events that were not implemented under