Company: TDBCP
Filing Date: 2025-12-09
Form Type: 424B2
Source: 0001140361-25-044993
Chunk: 1

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-09
Form: 424B2
Chunk 1
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 The Notes have complex features and investing in the Notes involves a number of risks. See “Additional Risk Factors” beginning on page P-3 of this pricing supplement, “Additional Risk Factors Specific to the Notes” beginning on page PS-7 of the product supplement MLN-EI-1 dated February 26, 2025, (the “product supplement”) and “Risk Factors” on page 1 of the prospectus dated February 26, 2025 (the “prospectus”). Neither the U.S. Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these Notes or determined that this pricing supplement, the product supplement, the underlier supplement or the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

|          | Public Offering Price1 | Underwriting Discount1 2 | Proceeds to TD2 |
| Per Note |              $1,000.00 |                   $15.00 |         $985.00 |
| Total    |                     $• |                       $• |              $• |

| 1 | The public offering price for investors purchasing the Notes in fiduciary accounts may be as low as $985.00 (98.50%) per Note. |

| 2 | TD Securities (USA) LLC (“TDS” or the “Agent”) will receive a commission of $15.00 per Note sold in this offering. J.P. Morgan Securities LLC, which we refer to as JPMS LLC, and JPMorgan Chase                                               
 Bank, N.A. will act as placement agents for the Notes and, from the commission to TDS, will receive a placement fee of $15.00 for each Note they sell in this offering to accounts other than fiduciary accounts. TDS and the placement agents 
 will forgo a commission and placement fee for sales to fiduciary accounts. See “Supplemental Plan of Distribution (Conflicts of Interest)” in this pricing supplement for additional information.                                              |

The public offering price, underwriting discount and proceeds to TD listed above relate to the Notes we issue initially. We may decide to sell additional Notes after the date of the final pricing supplement, at public offering prices and with underwriting discounts and proceeds to TD that differ from the amounts set forth above. The return (whether positive or negative) on your investment in the Notes will depend in part on the public offering price you pay for such Notes.

| TD SECURITIES (USA) LLC |