Company: TDBCP
Filing Date: 2025-07-30
Form Type: 424B2
Source: 0001140361-25-028053
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-30
Form: 424B2
Chunk 12
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 such hedging activities and such profit, if any, will be in addition to the compensation that the dealer receives for the sale of the securities to you. You should be aware that the potential to earn fees in connection with hedging activities may create a further incentive for the dealer to sell the securities to you in addition to the compensation they would receive for the sale of the securities. There May Not Be An Active Trading Market For The Securities — Sales In The Secondary Market May Result In Significant Losses. There may be little or no secondary market for the securities. The securities will not be listed or displayed on any securities exchange or any electronic communications network. The Agents and their respective affiliates may make a market for the securities; however, they are not required to do so. The Agents and their respective affiliates may stop any market-making activities at any time. Even if a secondary market for the securities develops, it may not provide significant liquidity or trade at prices advantageous to you. We expect that transaction costs in any secondary market would be high. As a result, the difference between bid and ask prices for your securities in any secondary market could be substantial. If you sell your securities before the stated maturity date, you may have to do so at a substantial discount from the principal amount irrespective of the price of the Underlying Funds, and as a result, you may suffer substantial losses. If The Prices Of The Funds Or Their Constituents Change, The Market Value Of Your Securities May Not Change In The Same Manner. Your securities may trade quite differently from the performance of Funds or the securities held by the Funds. Changes in the prices of the Funds or the securities held by the Funds generally or the lowest performing Fund specifically may not result in a comparable change in the market value of your securities. Even if the prices of the Funds increases above its starting price during the term of the securities, the market value of your securities may not increase by the same amount and could decline.

P-11

Risks Relating To The Funds The Maturity Payment Amount Will Depend Upon The Performance Of The Funds And Therefore The Securities Are Subject To The Following Risks, Each As Discussed In More Detail In The Accompanying Product Supplement.

| ● | Investing In The Securities Is Not The Same As Investing In Any Market Measure.Investing in the securities is not equivalent to                                                                                                               
 investing in any of the Funds. As an investor in the securities, your return will not reflect the return you would realize if you actually owned and held shares of the Funds or the securities