Company: TDBCP
Filing Date: 2025-10-09
Form Type: 424B2
Source: 0001140361-25-037818
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-09
Form: 424B2
Chunk 12
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 generally would not sell a stock because that stock’s issuer was in financial trouble. The Notes Are Subject to Risks Associated With the Banking Sector. The Notes are subject to risks associated with the banking sector because the SPDR ®S&P ®Regional Banking ETF is comprised of the stocks of companies whose primary lines of business are directly associated with the banking sector, which means that it will be more affected by the performance of the banking sector versus a fund that is more diversified. The performance of bank stocks may be affected by extensive governmental regulation which may limit both the amounts and types of loans and other financial commitments they can make, and the interest rates and fees they can charge and the amount of capital they must maintain. Profitability is largely dependent on the availability and cost of capital funds, and can fluctuate significantly when interest rates change. Credit losses resulting from financial difficulties of borrowers can negatively impact the sector. Banks may also be subject to severe price competition. The Nasdaq-100 Index ®and Russell 2000 ®Index Reflects Price Return, not Total Return. The return on the Notes is based on the performance of the Nasdaq-100 Index ®and Russell 2000 ®Index, which reflects the changes in the market prices of its Reference Asset Constituents. The Nasdaq-100 Index ®and Russell 2000 ®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 Small-Capitalization Companies. The Notes are subject to risks associated with small-capitalization companies because the Reference Asset Constituents of the Russell 2000 ®Index are considered small-capitalization companies. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization companies and therefore such index may be more volatile than an index in which a greater percentage of its constituents are issued by large-capitalization companies. Stock prices of small-capitalization companies are also more vulnerable than those of large-capitalization companies to adverse business and economic developments, and the stocks of small-capitalization companies may be thinly traded. In addition, small-capitalization companies are typically less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Small-capitalization companies are often given less analyst coverage and may be in early, and less predictable,