Company: TDBCP
Filing Date: 2025-09-30
Form Type: 424B2
Source: 0001140361-25-036760
Chunk: 27

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-30
Form: 424B2
Chunk 27
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 at such time (other than amounts or proceeds attributable to a contingent quarterly coupon or any amount attributable to any accrued but unpaid contingent quarterly coupon) and the amount you paid for your securities.     
 Such gain or loss should generally be long-term capital gain or loss if you have held your securities for more than one year (and, otherwise short-term capital gain or loss). The deductibility of capital losses is subject to limitations.    
 Although uncertain, it is possible that proceeds received from the taxable disposition of your securities prior to a contingent coupon payment date, but that could be attributed to an expected contingent quarterly coupon, could be treated   
 as ordinary income. You should consult your tax advisor regarding this risk.                                                                                                                                                                     |
| Except to the extent otherwise required by law, TD intends to treat your securities for U.S. federal income tax purposes in accordance with the treatment described above and under “Material                                                    
 U.S. Federal Income Tax Consequences” in the accompanying product supplement unless and until such time as the IRS and the Treasury determine that some other treatment is more appropriate.                                                     |
| Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, is of the opinion that it would                                                                           
 be reasonable to treat your securities in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the securities, it is possible that your securities could alternatively be treated 
 for tax purposes as a single contingent payment debt instrument, or pursuant to some other characterization, such that the timing and character of your income from the securities could differ materially and adversely from the treatment      
 described above, as described further under “Material U.S. Federal Income Tax Consequences” in the accompanying product supplement.                                                                                                              |
| Notice 2008-2.In 2007, the IRS released a notice that may affect the taxation of holders of the securities. According to Notice 2008-2, the IRS and                                                                                              
 the Treasury are considering whether a holder of an instrument such as the securities should be required to accrue ordinary income on a current basis. It is not possible to determine what guidance they will ultimately issue, if any. It is   
 possible, however, that under such guidance, holders of the securities will ultimately be required to accrue income currently in excess of  any receipt of contingent quarterly coupons and this could be applied on a retroactive basis.        
 According to the Notice, the IRS and the Treasury are also considering other relevant issues, including whether