Company: TDBCP
Filing Date: 2025-08-08
Form Type: 424B2
Source: 0001140361-25-029820
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-08
Form: 424B2
Chunk 0
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| Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-283969 |

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 August 8, 2025.

Pricing Supplement dated, 2025 to the Product Supplement MLN-EI-1 dated February 26, 2025, Product Supplement MLN-ES-ETF-1 dated February 26, 2025 Underlier Supplement dated February 26, 2025 and Prospectus dated February 26, 2025

The Toronto-Dominion Bank (“TD” or “we”) is offering the Leveraged Barrier Notes (the “Notes”) linked to the least performing of the shares of the iShares ®MSCI EAFE ETF and the EURO STOXX 50 ®Index (each, a “Reference Asset” and together, the “Reference Assets”). We also refer to an exchange-traded fund as an “ETF”, a Reference Asset that is a share of an ETF as an “Equity Reference Asset” and a Reference Asset that is an index as an “Index Reference Asset”. The Notes provide 235.70% leveraged participation in the positive return of the Least Performing Reference Asset if the value of each Reference Asset increases from its Initial Value to its Final Value. The “Least Performing Reference Asset” is the Reference Asset with the lowest Percentage Change (the “Least Performing Percentage Change”). The “Percentage Change” for each Reference Asset is the quotient, expressed as a percentage, of (i) its Final Value minusits Initial Value dividedby (ii) its Initial Value. Investors will receive their Principal Amount at maturity if the Final Value of any Reference Asset is less than or equal to its Initial Value but the Final Value of each Reference Asset greater than or equal to its Barrier Value, which is equal to 70.00% of its Initial Value. If, however, the Final Value of any Reference Asset is less than its Barrier Value, investors will suffer a percentage loss on their initial investment that is equal to the Least Performing Percentage Change, and may lose their entire Principal Amount. Specifically, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Value of the Least Performing Reference Asset is less than its Initial Value, and may lose the entire Principal Amount.