Company: TDBCP
Filing Date: 2025-03-05
Form Type: 424B2
Source: 0001140361-25-007150
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Company: TORONTO DOMINION BANK
Filing Date: 2025-03-05
Form: 424B2
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The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion. Dated March 5, 2025.

| Pricing Supplement dated , 2025 to the               
 Product Supplement MLN-EI-1 dated February 26, 2025, 
 Underlier Supplement dated February 26, 2025 and     
 Prospectus Dated February 26, 2025                   | Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

General

| • | The Notes are designed for investors who (i) wish to receive a Contingent Interest Payment (as defined below), plus any previously unpaid Contingent Interest Payments, if on any Review Date the                                                 
 Closing Level of the S&P 500®Index (the“Reference Asset”) is greater than or equal to the Barrier Level (as defined below), (ii) are willing to                                                                                                   
 accept the risk of losing a significant portion or all of their Principal Amount and of not receiving any Contingent Interest Payments over the term of the Notes and (iii) are willing to forgo fixed interest and dividend payments. Contingent 
 Interest Payments should not be viewed as periodic interest payments.                                                                                                                                                                             |

| • | The Notes will be automatically called prior to the Maturity Date if the Closing Level of the Reference Asset is greater than or equal to the Initial Level on any Review Date other than the Final                                              
 Review Date. If the Notes are not automatically called and the Closing Level of the Reference Asset on the Final Review Date (the “Final Level”) is less than the Barrier Level, investors will lose 1% of the Principal Amount of the Notes for 
 each 1% that the Final Level is less than the Initial Level, and may lose the entire Principal Amount.                                                                                                                                           |

| • | Any payments on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                      | The Toronto-Dominion Bank (“TD”)                                                                                                                                                                                                                                                                                                                                                                                       |
| Reference Asset:             | The S&P 500®Index (Bloomberg ticker: “SPX”)                                                                                                                                                                                                                                                                                                                                                                            |
| Principal Amount:            | $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $1,000 in excess thereof.