Company: TDBCP
Filing Date: 2025-09-23
Form Type: 424B2
Source: 0001140361-25-035813
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-23
Form: 424B2
Chunk 5
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 Reference Asset or in a security directly linked to the positive performance of such Reference Asset. Your Return May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes may be less than the return you could earn on other investments. The Notes do not provide for fixed interest payments and you may not receive any Contingent Interest Payments over the term of the Notes. Even if you do receive one or more Contingent Interest Payments and your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date and Are Subject to Reinvestment Risk. If your Notes are automatically called, no further payments will be owed to you under the Notes after the applicable Call Payment Date. Therefore, because the Notes could be called as early as the first potential Call Payment Date, the holding period could be limited. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in the event the Notes are automatically called prior to the Maturity Date. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. The Amounts Payable on the Notes Are Not Linked to the Value of the Reference Assets at Any Time Other Than on the Contingent Interest Observation Dates (Including the Final Valuation Date) And Call Observation Dates. Any payments on the Notes will be based on the Closing Value of the Reference Assets only on the Contingent Interest Observation Dates (including the Final Valuation Date) and Call Observation Dates. Even if the value of a Reference Asset appreciates prior to a Contingent Interest Observation Date but then drops on that day to a Closing Value that is less than its Contingent Interest Barrier Value, you will not receive any Contingent Interest Payment with respect to such Contingent Interest Observation Date. Although the actual values of the Reference Assets at other times during the term of the Notes may be higher than the values on one or more Contingent Interest Observation Dates (including the Final Valuation Date) or Call Observation