Company: TDBCP
Filing Date: 2025-07-01
Form Type: 424B2
Source: 0001140361-25-024347
Chunk: 16

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-01
Form: 424B2
Chunk 16
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 strategic holders. In most cases, an IWF is reported to the nearest one percentage point. For companies with
    multiple share class lines, a separate IWF is calculated for each share class line. In most cases, an IWF is reported to the nearest one percentage point.

Maintenance of the Index

In order to keep the Index comparable over time the Index sponsor engages in an index maintenance process. The Index maintenance process involves changing the constituents as discussed above, and also
    involves maintaining quality assurance processes and procedures, adjusting the number of shares used to calculate the Index, monitoring and completing the adjustments for company additions and deletions, adjusting for stock splits and stock dividends
    and adjusting for other corporate actions. In addition to its daily governance of indices and maintenance of the Index methodology, at least once within any 12 month period, the S&P Index Committee reviews the Index methodology to ensure the Index
    continues to achieve the stated objective, and that the data and methodology remain effective. The S&P Index Committee may at times consult with investors, market participants, security issuers included in or potentially included in the Index, or
    investment and financial experts.

| Capped Notes with Absolute Return Buffer | TS-9 |

| Capped Notes with Absolute Return Buffer        
 Linked to the S&P 500®Index due September, 2026 |

Divisor Adjustments

The two types of adjustments primarily used by the Index sponsor are divisor adjustments and adjustments to the number of shares (including float adjustments) used to calculate the Index. Set forth below
    is a table of certain corporate events and their resulting effect on the divisor and the share count. If a corporate event requires an adjustment to the divisor, that event has the effect of altering the market value of the affected constituent and
    consequently of altering the aggregate market value of the constituents following the event. In order that the level of the Index not be affected by the altered market value (which could be an increase or decrease) of the affected constituent, the
    Index sponsor generally derives a new divisor by dividing the post-event market value of the constituents by the pre-event Index level, which has the effect of reducing the Index’s post-event level to the pre-event level.

Changes to the Number of Shares of a Constituent

The index maintenance process also involves tracking the changes in the number of shares included for each of the index companies. Changes as a result of mandatory events, such as mergers or acquisition
    driven share/IWF changes, stock splits and mandatory distributions are