Company: TDBCP
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001140361-25-026747
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-22
Form: 424B2
Chunk 18
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 not be automatically called. Because the Final Price is less than the Buffer Price on the Final Review Date, on the Maturity Date we will deliver a number of shares of the Reference Asset equal to the Physical Delivery Amount, for a total of $4,000.00*, a loss of 60.00% per Note. The actual value of the shares received on the Maturity Date, and the total return on the Notes at that time, depends on the price of the Reference Asset on the Maturity Date. You should note that if the Notes are not automatically called and the Final Price is less than the Buffer Price, because we will deliver the Physical Delivery Amount of the Reference Asset instead of paying an amount in cash at maturity, the actual value of the Physical Delivery Amount you receive will be determined on the Maturity Date and such value may be less than the payment that you would have received at maturity had we instead paid an amount in cash, as a result of any decrease in the price of the Reference Asset during the period between the Final Review Date and the Maturity Date. For the avoidance of doubt, the value of the Physical Delivery Amount as of the Maturity Date may be worth less than the value of the Physical Delivery Amount calculated using the Final Price due to declines in the price of the Reference Asset from the Final Review Date to the Maturity Date.

| TD SECURITIES (USA) LLC | P-10 |

The following table illustrates the hypothetical payments and/ or deliveries per Note that may be realized at maturity for a range of hypothetical Final Prices of the Reference Asset, based on the hypothetical terms set forth above. The table assumes that the Notes have not been automatically called and does not reflect any Contingent Interest Payment that may be payable prior to the Maturity Date or any previously unpaid Contingent Interest Payments otherwise due on the Maturity Date pursuant to the Memory Interest Feature. The hypothetical returns set forth below are for illustrative purposes only and may not be the actual returns applicable to a purchaser of the Notes. Further, with respect to any delivery of the Physical Delivery Amount, the hypothetical returns set forth below are based only on the hypothetical Final Price as of the Final Review Date and do not account for any changes in the price of the Reference Asset on the Maturity Date. The numbers appearing in the following table may have been rounded for ease of analysis.

| Hypothetical Final Price | Hypothetical Return of the  
 Reference Asset as of Final 
 Review Date                 | Payment at Maturity(1) | Return