Company: TDBCP
Filing Date: 2025-07-24
Form Type: 424B2
Source: 0001140361-25-027052
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-24
Form: 424B2
Chunk 13
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 to the U.S. dollar.Although the index                                                                                                                    
 constituent stocks of the Nikkei 225®Index trade in Japanese yen, the securities are denominated in U.S. dollars. The calculation of the amount payable on the securities at maturity will not be adjusted for changes in the      
 exchange rates between the U.S. dollar and the Japanese yen. Changes in exchange rates, however, may reflect changes in various non-U.S. economies that in turn may affect the value of the Nikkei 225®Index and, accordingly, the 
 amount payable on the securities. You will not benefit from any appreciation of the Japanese yen relative to the U.S. dollar, which you would have had you owned such stocks directly.                                             |

| ◾ | The securities are subject to non-U.S. securities market risk.The Nikkei 225®Index is subject to risks                                                                                                                                           
 associated with non-U.S. securities markets, specifically that of Japan. An investment in securities, such as these securities, linked directly or indirectly to the value of securities issued by non-U.S. companies involves particular risks. 
 Generally, non-U.S. securities markets may be more volatile than U.S. securities markets, and market developments may affect non-U.S. markets differently than U.S. securities markets. Direct or indirect government intervention to stabilize  
 these non-U.S. markets, as well as cross shareholdings in non-U.S. companies, may affect trading prices and volumes in those markets. There is generally less publicly available information about non-U.S. companies than about those U.S.      
 companies that are subject to the reporting requirements of the SEC, and non-U.S. companies are subject to accounting, auditing and financial reporting standards and requirements that differ from those applicable to U.S. reporting           
 companies. Securities prices in non-U.S. countries are subject to political, economic, financial and social factors that may be unique to the particular country. These factors, which could negatively affect the non-U.S. securities markets,  
 include the possibility of recent or future changes in the non-U.S. government’s economic and fiscal policies, the possible imposition of, or changes in, currency exchange laws or other non-U.S. laws or restrictions applicable to non-U.S.   
 companies or investments in non-U.S. equity securities and the possibility of fluctuations in the rate of exchange between currencies. Moreover, certain aspects of a particular non-U.S. economy may differ favorably or unfavorably from the   
 U.S. economy in important respects, such