Company: TDBCP
Filing Date: 2025-10-24
Form Type: 424B2
Source: 0001140361-25-039273
Chunk: 8

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-24
Form: 424B2
Chunk 8
---
 If you purchase Notes at a price that differs from the Principal Amount of the Notes, then the
    return on your investment in such Notes held to the Maturity Date will differ from, and may be substantially less than, the return on Notes purchased at Principal Amount. If you purchase your Notes at a premium to Principal Amount and hold them to the
    Maturity Date, the return on your investment in the Notes will be less than it would have been had you purchased the Notes at Principal Amount or a discount to Principal Amount. In addition, the impact of the Buffer Level and the Threshold Settlement
    Amount on the return on your investment will depend upon the price you pay for your Notes relative to Principal Amount. For example, if you purchase your Notes at a premium to Principal Amount, the return represented by the Threshold Settlement Amount
    would result in a lower positive return on your investment in the Notes than would have been the case for Notes purchased at Principal Amount or a discount to Principal Amount. Similarly, the Buffer Level, while still providing some protection for the
    return on the Notes, will allow a greater percentage decrease in your investment in the Notes than would have been the case for Notes purchased at Principal Amount or a discount to Principal Amount.**

P-7

<div align='center'>**Risks Relating to Characteristics of the Basket and Basket Components**</div>

**Changes in the Level of One Basket Component May Be Offset by Changes in the Level of the Other Basket Components.

A change in the level of one Basket Component may not correlate with changes in the levels of the other Basket Components. The level of one or more Basket Components may increase
    while the level of one or more other Basket Components may not increase as much, or may even decrease. Therefore, in determining the level of the Basket as of any time, increases in the level of one Basket Component may be moderated, or wholly offset,
    by lesser increases or decreases in the level of one or more other Basket Components. Because the weightings of the Basket Components are not equal, the performances of the EURO STOXX 50 ® Index, TOPIX and the FTSE ® 100 Index will
    have a significantly larger impact on your return on the Notes than the performance of the Swiss Market Index or the S&P/ASX 200 Index.

There Are Market Risks Associated with the Basket Components.

The level of the Basket can rise or fall sharply due to factors specific to the Basket Components, the Basket Component Constituents and their issu