Company: TDBCP
Filing Date: 2025-07-30
Form Type: 424B2
Source: 0001140361-25-028053
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-30
Form: 424B2
Chunk 4
---
 rate for the securities rather than the levels at which our benchmark debt securities trade in the secondary market is expected, assuming all other economic terms are held constant, to increase the estimated value of the securities. For more information see the discussion under “Selected Risk Considerations — Risks Relating To The Estimated Value Of The Securities And Any Secondary Market — The Estimated Value Of Your Securities Is Based On Our Internal Funding Rate.” Our estimated value of the securities is not a prediction of the price at which the securities may trade in the secondary market, nor will it be the price at which the Agents may buy or sell the securities in the secondary market. Subject to normal market and funding conditions, the Agents or another affiliate of ours intends to offer to purchase the securities in the secondary market but it is not obligated to do so. Assuming that all relevant factors remain constant after the pricing date, the price at which the Agents may initially buy or sell the securities in the secondary market, if any, may exceed our estimated value on the pricing date for a temporary period expected to be approximately 3 months after the issue date because, in our discretion, we may elect to effectively reimburse to investors a portion of the estimated cost of hedging our obligations under the securities and other costs in connection with the securities which we will no longer expect to incur over the term of the securities. We made such discretionary election and determined this temporary reimbursement period on the basis of a number of factors, including the tenor of the securities and any agreement we may have with the distributors of the securities. The amount of our estimated costs which we effectively reimburse to investors in this way may not be allocated ratably throughout the reimbursement period, and we may discontinue such reimbursement at any time or revise the duration of the reimbursement period after the issue date of the securities based on changes in market conditions and other factors that cannot be predicted. We urge you to read the “Selected Risk Considerations” in this pricing supplement.

P-6

| Investor Considerations |

The securities are not appropriate for all investors. The securities may be an appropriate investment for investors who:

| ■ | seek 179% leveraged exposure to the upside performance of the lowest performing Fund if its ending price is greater than its starting price; |

| ■ | understand that any positive return based on the decrease in the price of the lowest performing Fund will be limited to 10%, and that any decrease in the price of the lowest performing Fund by more than 10% will result in a loss, rather 
 than a positive return,