Company: TDBCP
Filing Date: 2025-01-28
Form Type: 424B2
Source: 0001140361-25-002222
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-28
Form: 424B2
Chunk 0
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| Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-262557 |

The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion. Dated January 28, 2025.

Pricing Supplement dated, 2025to the Product Supplement MLN-ES-ETF-1 dated March 4, 2022,and Prospectus dated March 4, 2022

The Toronto-Dominion Bank (“TD” or “we”) is offering the Autocallable Barrier Notes (the “Notes”) linked to the least performing of the shares of the Energy Select Sector SPDR ®Fund, the shares of the Financial Select Sector SPDR ®Fund and the shares of the Utilities Select Sector SPDR ®Fund(each, a “Reference Asset” and together, the “Reference Assets”). We also refer to an exchange-traded fund as an “ETF”. The Notes will be automatically called on the Call Payment Date (including the Maturity Date) if, on the applicable Call Observation Date (including the Final Valuation Date), the Closing Value of each Reference Asset is greater than or equal to its Call Threshold Value, which is equal to 100.00% of its Initial Value. If the Notes are automatically called, on the Call Payment Date we will pay a cash payment per Note equal to the Call Price corresponding to the applicable Call Observation Date, which is the Principal Amount plus a return equal to the Call Premium corresponding to the applicable Call Observation Date. Following an automatic call, no further amounts will be owed under the Notes. The applicable Call Premium (and therefore the applicable Call Price) increases the longer the Notes are outstanding and is based on a per annum rate of 18.86% (the “Call Rate”). If the Notes are not automatically called (meaning that the Closing Value of any Reference Asset is less than its Call Threshold Value on each Call Observation Date, including the Final Valuation Date), the amount we pay at maturity, if anything, will depend on the Closing Value of each Reference Asset on its Final Valuation Date (each, its “Final Value”) relative to its Barrier Value, which is equal to 76.00% of its Initial Value, calculated as follows:

| • | If the Final Value of each Reference Asset is greater than or equal to its Barrier Value: |

the Principal Amount