Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 21

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 21
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 information about these risks, together with the other information in this prospectus supplement and the accompanying base prospectus, before investing in the Notes.

The Notes and Series 33 Shares are loss-absorption financial instruments that involve significant risk and may not be a suitable investment for all investors.

The Notes and Series 33 Shares are loss-absorption financial instruments designed to comply with applicable Canadian banking regulations and
involve significant risks. Each potential investor in the Notes must determine the suitability (either alone or with the help of a financial adviser) of that investment in light of its own circumstances. In particular, each potential investor should
understand thoroughly the terms of the Notes and the Series 33 Shares, such as the provisions governing the limited remedies of holders of Notes and Contingent Conversion, including the circumstances constituting a Trigger Event. A potential
investor should not invest in the Notes unless it has the knowledge and expertise (either alone or with a financial advisor) to evaluate how the Notes will perform under changing conditions, the resulting effects on the likelihood of the Contingent
Conversion into Common Shares and the value of the Notes, and the impact this investment will have on the potential investor’s overall investment portfolio. Prior to making an investment decision, potential investors should consider carefully,
in light of their own financial circumstances and investment objectives, all the information contained in this prospectus supplement and the accompanying base prospectus or incorporated by reference herein.

An investment in the Notes and the Series 33 Shares is subject to the Bank’s credit risk.

The value of the Notes and the Series 33 Shares will be affected by the general creditworthiness of the Bank. The Bank’s earnings are
significantly affected by changes in general business and economic conditions in the regions in which it operates. These conditions include short- and long-term interest rates, inflation, fluctuations in the debt and capital markets (including
changes in credit spreads, credit migration and rates of default), equity or commodity prices, exchange rates, the strength of the economy, the stability of various financial markets, threats of terrorism and the level of business conducted in a
specific region and/or any one sector within each region. Challenging market conditions and the health of the economy as a whole may have a material effect on the Bank’s business, financial condition, liquidity and results of operations. See
the 2024 MD&A and Q3 2025 MD&A incorporated by reference in this prospectus supplement. These analyses discuss, among other things, known material trends and events, and risks or