Company: TDBCP
Filing Date: 2025-10-27
Form Type: 424B2
Source: 0001140361-25-039434
Chunk: 10

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-27
Form: 424B2
Chunk 10
---
 may fluctuate with changes in the market value of its Reference Asset Constituents. The market values of an ETF may fluctuate in accordance with changes in NAV and supply and demand on the applicable stock exchange(s). Furthermore, the Reference Asset Constituents may be unavailable in the secondary market during periods of market volatility, which may make it difficult for market participants to accurately calculate the intraday NAV per share of the applicable Equity Reference Asset and may adversely affect the liquidity and prices of such Equity Reference Asset, perhaps significantly. For any of these reasons, the market value of an Equity Reference Asset may differ from its NAV per share and may trade at, above or below its NAV per share. Adjustments to an Equity Reference Asset Could Adversely Affect the Notes. The Investment Adviser (as specified under “Information Regarding the Reference Assets”) for each Equity Reference Asset is responsible for calculating and maintaining the applicable Equity Reference Asset. An Investment Adviser can add, delete or substitute the Reference Asset Constituents for its Equity Reference Asset. An Investment Adviser may make other methodological changes to its Equity Reference Asset that could change the value of such Equity Reference Asset at any time. If one or more of these events occurs, the Closing Value of such Equity Reference Asset may be adjusted to reflect such event or events, which could adversely affect whether and the extent to which any amounts may be payable on the Notes and/or the market value of the Notes. The Nasdaq-100 ®Technology Sector Index SM, Russell 2000 ®Index and S&P 500 ®Index Reflects Price Return, not Total Return.

| TD SECURITIES (USA) LLC | P-9 |

The return on the Notes is based on the performance of the Nasdaq-100 ®Technology Sector Index SM, Russell 2000 ®Index and S&P 500 ®Index, which reflects the changes in the market prices of its Reference Asset Constituents. The Nasdaq-100 ®Technology Sector Index SM, Russell 2000 ®Index and S&P 500 ®Index is not a “total return” index or strategy, which, in addition to reflecting those price returns, would also reflect dividends paid on its Reference Asset Constituents. The return on the Notes will not include such a total return feature or dividend component. The Notes are Subject to Risks Associated with the Technology Sector. The Notes are subject to risks associated with the technology sector because each of the Nasdaq-100 ®Technology Sector Index SMand Technology Select Sector SPDR ®Fund is comprised