Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001140361-25-035084
Chunk: 1

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 1
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 expected to be between $950.00 and $985.00 per PLUS, as discussed further under “Risk Factors — Risks Relating to                            
 Estimated Value and Liquidity” beginning on page 8 and “Additional Information About the PLUS — Additional information regarding the estimated value of the PLUS” herein. The estimated value is expected to be less than the public offering price 
 of the PLUS.                                                                                                                                                                                                                                        |

| Commissions and issue price: | Price to Public(1) | Fees and Commissions(1) | Proceeds to Issuer |
| Per PLUS:                    |          $1,000.00 | $10.00(a)               
 +$2.50(b)               
 $12.50                  |            $987.50 |
| Total:                       |                 $• | $•                      |                 $• |

| (1) | TDS will purchase the PLUS from TD at the price to public less a fee of $12.50 per PLUS. TDS will resell all of the PLUS to Morgan Stanley Smith Barney LLC (“Morgan Stanley Wealth Management”) at 
 an underwriting discount which reflects:                                                                                                                                                            |

| (a) | afixed sales commission of $10.00 per $1,000.00 stated principal amount of PLUS that Morgan Stanley Wealth Management sells and |

| (b) | a fixed structuring fee of $2.50 per $1,000.00 stated principal amount of PLUS that Morgan Stanley Wealth Management sells, |

**each payable to Morgan Stanley Wealth Management. See “Additional Information About the PLUS — Supplemental information
    regarding plan of distribution (conflicts of interest); secondary markets (if any)” herein.

The PLUS involve risks not associated with an investment in ordinary debt securities. See “Risk Factors” beginning on page 7.

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these PLUS or determined that this
    pricing supplement, the product supplement, the underlier supplement or the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The PLUS are unsecured and are not savings accounts or insured deposits of a bank. The PLUS are not insured or guaranteed by the Canada Deposit Insurance Corporation,
    the U.S. Federal Deposit Insurance Corporation or any other governmental agency or instrumentality of Canada or the United States. The PLUS will not be listed or displayed on any securities exchange or electronic communications network.

We will deliver the PLUS in book-entry only form through the facilities