Company: TDBCP
Filing Date: 2025-10-16
Form Type: 424B2
Source: 0001140361-25-038262
Chunk: 24

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-16
Form: 424B2
Chunk 24
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 from contingent payments that are greater than the assumed amounts of those payments are referred to as “positive adjustments”; adjustments arising from contingent payments that are less than the assumed amounts are referred to as “negative adjustments”. Positive and negative adjustments are netted for each taxable year with respect to each Note. Any net positive adjustment for a taxable year is treated as additional interest income of the U.S. holder. Any net negative adjustment reduces any interest on a Note for the taxable year that would otherwise accrue. Any excess is then treated as a current-year ordinary loss to the U.S. holder to the extent of interest accrued on the Note in prior years. The balance, if any, is treated as a negative adjustment on the Note in subsequent taxable years and, to the extent that it has not previously been taken into account, reduces the amount realized upon a taxable disposition of the Note.

| TD SECURITIES (USA) LLC | P-19 |

We have determined that the comparable yield for the Notes is equal to [●]% per annum, compounded monthly. Based on our determination of the comparable yield, the “projected payment schedule” per $1,000 principal amount Note consists of the following payments:

Based on this comparable yield, if you are an initial holder that holds a Note until maturity and you calculate your taxes on a calendar year basis, we have determined that you would be required to report the following amounts as ordinary interest income from the Note, not taking into account any positive or negative adjustments you may be required to take into account based on actual payments on such Note:

| Accrual Period                          
 Issue Date through April 23, 2026       
 April 23, 2026 through October 23, 2026 | Interest Deemed to Accrue  
 During Accrual Period (per 
 $1,000 Note)               
 $[●]                       
 $[●]                       | Total Interest Deemed to Have 
 Accrued From Original Issue   
 Date (per $1,000 Note) as of  
 End of Accrual Period         
 $[●]                          
 $[●]                          |
|:----------------------------------------|:---------------------------|:------------------------------|
| October 23, 2026 through April 23, 2027 | $[●]                       | $[●]                          |
| April 23, 2027 through October 23, 2027 | $[●]                       | $[●]                          |
| October 23, 2027 through April 23, 202