Company: TDBCP
Filing Date: 2025-07-21
Form Type: 424B2
Source: 0001140361-25-026610
Chunk: 20

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-21
Form: 424B2
Chunk 20
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 on your initial investment.

| TD SECURITIES (USA) LLC | P-12 |

Dow Inc. According to publicly available information, Dow Inc. (“Dow”) is a materials science company. Prior to April 1, 2019 (the “effective date”) Dow represented the materials science business of DowDuPont Inc. (“DowDuPont”, now known as DuPont de Nemours, Inc.) and was a wholly owned subsidiary of DowDuPont. Dow’s separation was completed on the effective date through a pro rata distribution of all of its then-issued and outstanding shares to holders of record of DowDuPont common stock as of the close of business on March 21, 2019. Each DowDuPont holder of record received one share of Dow common stock for every three shares of DowDuPont common stock held. Information filed by Dow with the SEC can be located by reference to its SEC file number: 001-38646, or its CIK Code: 0001751788. Dow’s common stock is listed on the New York Stock Exchange under the ticker symbol “DOW”. Historical Information The graph below illustrates the performance of the Reference Asset from March 20, 2019 through July 18, 2025. The dotted line represents the Buffer Price of $22.672, which is equal to 80.00% of the Initial Price. Dow Inc. (DOW) PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

| TD SECURITIES (USA) LLC | P-13 |

Material U.S. Federal Income Tax Consequences The U.S. federal income tax consequences of your investment in the Notes are uncertain. No statutory, regulatory, judicial or administrative authority directly discusses how the Notes should be treated for U.S. federal income tax purposes. Some of these tax consequences are summarized below, but we urge you to read the more detailed discussion under “Material U.S. Federal Income Tax Consequences” in the product supplement and discuss the tax consequences of your particular situation with your tax advisor. This discussion is based upon the U.S. Internal Revenue Code of 1986, as amended (the “Code”), final, temporary and proposed U.S. Department of the Treasury (the “Treasury”) regulations, rulings and decisions, in each case, as available and in effect as of the date hereof, all of which are subject to change, possibly with retroactive effect. Tax consequences under state, local and non-U.S. laws are not