Company: TDBCP
Filing Date: 2025-05-02
Form Type: 424B2
Source: 0001140361-25-017065
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-02
Form: 424B2
Chunk 5
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 Amount and May Be Less Than the Return on a Hypothetical Direct Investment in the Least Performing Reference Asset. The opportunity to participate in the possible increases in the level of the Least Performing Reference Asset through an investment in the Notes is limited because the Payment at Maturity will not exceed the Maximum Redemption Amount. Accordingly, your return on the Notes may be less than the return on an investment in a note directly linked to the performance of the Least Performing Reference Asset or in a hypothetical investment in the Least Performing Reference Asset, or the stocks comprising the Least Performing Reference Asset (its “Reference Asset Constituents”). Investors Are Exposed to the Market Risk of Each Reference Asset on the Final Valuation Date. Your return on the Notes is not linked to a basket consisting of the Reference Assets. Rather, it will be contingent upon the performance of each Reference Asset. Unlike an instrument with a return linked to a basket of indices, common stocks or other underlying securities, in which risk is mitigated and diversified among all of the components of the basket, you will be exposed equally to the risks related to each Reference Asseton the Final Valuation Date. Poor performance by any Reference Asset over the term of the Notes will negatively affect your return and will not be offset or mitigated by a positive performance by any other Reference Asset. The Payment at Maturity Is Not Linked to the Closing Value of Any Reference Asset at Any Time Other than the Final Valuation Date. The Final Value of each Reference Asset will be based on the Closing Value of that Reference Asset on the Final Valuation Date. Therefore, if the Closing Value of any Reference Asset dropped precipitously on the Final Valuation Date, the Payment at Maturity for your Notes may be significantly less than it would have been had the Payment at Maturity been linked to the Closing Values of the Reference Assets prior to such drop. Although the actual Closing Values of the Reference Assets on the Maturity Date or at other times during the term of your Notes may be higher than their Closing Values on the Final Valuation Date, your return is based only on the Closing Value of the Least Performing Reference Asset on the Final Valuation Date. Risks Relating to Characteristics of the Reference Assets Because the Notes Are Linked to the Least Performing Reference Asset, You Are Exposed to a Greater Risk of Not Receiving a Positive Return on Your Initial Investment at Maturity Than if the Notes Were Linked to a Single Reference Asset or Fewer Reference Assets. The risk that you will not receive a positive return on your initial investment in the Notes