Company: TDBCP
Filing Date: 2025-06-02
Form Type: 424B2
Source: 0001140361-25-021075
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-02
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 June 2, 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) seek unleveraged exposure to a limited range of the percentage increase of the S&P 500®Index (the“Reference                                                                                           
 Asset”) from the Initial Level (as defined below) to the Closing Level of the Reference Asset on the Valuation Date (the “Final Level”), (ii) are willing to accept the risk of losing some or all of their Principal Amount and (iii) are willing 
 to forgo interest and dividend payments.                                                                                                                                                                                                           |

| • | Investors will receive their Principal Amount at maturity if the Final Level is equal to or less than the Initial Level by up to 15.00%. If the Final Level is less than the Initial Level by more than 15.00%,     
 investors will lose approximately 1.1765% of the Principal Amount of the Notes for each 1% decrease from the Initial Level to the Final Level of more than 15.00% and may lose some or all of the 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.                                                                        |
| Term:                     | Approximately 13 months.                                                                                                                                                               |
| Strike Date:              | May 30, 2025                                                                                                                                                                           |
| Pricing Date:             | June 2, 2025                                                                                                                                                                           |
| Issue Date:               | June 5, 2025, which