Company: TDBCP
Filing Date: 2025-07-29
Form Type: 424B2
Source: 0001140361-25-027726
Chunk: 26

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-29
Form: 424B2
Chunk 26
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 Medicare tax is determined in a different manner than the regular income tax. You should consult your tax advisor as to
    the consequences of the 3.8% Medicare tax.

Specified Foreign Financial Assets. U.S. holders may be subject to reporting obligations with respect to their Notes if they do not hold their Notes in an
    account maintained by a financial institution and the aggregate value of their Notes and certain other “specified foreign financial assets” (applying certain attribution rules) exceeds an applicable threshold. Significant penalties can apply if a U.S.
    holder is required to disclose its Notes and fails to do so.

Backup Withholding and Information Reporting. The proceeds received from a taxable disposition of the Notes will be subject to information reporting unless you
    are an “exempt recipient” and may also be subject to backup withholding at the rate specified in the Code if you fail to provide certain identifying information (such as an accurate taxpayer number, if you are a U.S. holder) or meet certain other
    conditions.

Proposed Legislation. In 2007, legislation was introduced in Congress that, if it had been enacted, would have required holders of Notes purchased after the
    bill was enacted to accrue interest income over the term of the Notes despite the fact that there may be no interest payments over the term of the Notes.

Furthermore, in 2013, the House Ways and Means Committee released in draft form certain proposed legislation relating to financial instruments. If it had been enacted, the effect of this legislation
    generally would have been to require instruments such as the Notes to be marked to market on an annual basis with all gains and losses to be treated as ordinary, subject to certain exceptions.

It is impossible to predict whether any similar or identical bills will be enacted in the future, or whether any such bill would affect the tax treatment of your Notes. You are urged to consult your
    tax advisor regarding the possible changes in law and their possible impact on the tax treatment of your Notes.

You are urged to consult your tax advisor regarding the U.S. federal income tax consequences of an investment in the Notes, including with respect to any shares of the Reference Asset received, as well
    as any tax consequences arising under the laws of any state, local or non-U.S. taxing jurisdiction (including that of TD).**

| TD SECURITIES (USA) LLC | P-18 |

**Additional Terms of the Notes

The sections “General Terms of the Notes — Delisting or Suspension of Trading in, or Change