Company: TDBCP
Filing Date: 2025-10-20
Form Type: 424B2
Source: 0001140361-25-038662
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-20
Form: 424B2
Chunk 15
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. The Calculation Agent will exercise its judgment when performing its functions and may have a conflict of interest if it needs to make certain decisions. For example, the Calculation Agent may have to determine whether a market disruption event affecting a Basket Component has occurred, and make certain adjustments if certain events occur, which may, in turn, depend on the Calculation Agent’s judgment as to whether the event has materially interfered with our ability or the ability of one of our affiliates to unwind our hedge positions. Because this determination by the Calculation Agent may affect the return on the Notes, the Calculation Agent may have a conflict of interest if it needs to make a determination of this kind. For additional information on the Calculation Agent’s role, see “General Terms of the Notes — Role of Calculation Agent” in the product supplements. You Will Have Limited Anti-Dilution Protection and, in Certain Situations, Your Return on the Notes May be Based on a Substitute Equity Basket Component. The Calculation Agent may adjust the Initial Basket Component Value of the Equity Basket Component for stock splits, reverse stock splits, stock dividends, extraordinary dividends and other events that affect the Equity Basket Component, but only in the situations we describe in “General Terms of the Notes — Anti-Dilution Adjustments” in the product supplement MLN-ES-ETF-1. The Calculation Agent will not be required to make an adjustment for every event that may affect the Equity Basket Component. Furthermore, in certain situations, such as when the Equity Basket Component undergoes a Reorganization Event or the Equity Basket Component is delisted, such Equity Basket Component may be replaced by distribution property or a substitute equity security, as discussed more fully in the product supplement MLN-ES-ETF-1 under “General Terms of the Notes”. Notwithstanding the Calculation Agent’s ability to make adjustments to the terms of the Notes and the Equity Basket Component, those events or other actions affecting the Equity Basket Component, a Basket Component Constituent Issuer, the Investment Adviser or a third party may nevertheless adversely affect the price of the Equity Basket Component and, therefore, adversely affect the market value of, and return on, your Notes. The Valuation Date and the Maturity Date Are Subject to Market Disruption Events and Postponements. The Valuation Date, and therefore the Maturity Date, are subject to postponement due to the occurrence of one or more market disruption events. For a description of what constitutes a market disruption event as well as the consequences of that market disruption event, see “General Terms of the Notes — Market