Company: TDBCP
Filing Date: 2025-08-12
Form Type: 424B2
Source: 0001140361-25-030517
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-12
Form: 424B2
Chunk 13
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 indices. Rather, it will be contingent upon the                                                 
 performance of each underlying index. Unlike an instrument with a return linked to a basket of indices, common stocks or other underlying assets, in which risk is mitigated and diversified among all of the components of the basket, you will 
 be exposed equally to the risks related to each underlying index. Poor performance by any one underlying index may negatively affect your return and will not be offset or mitigated by the performance of any other underlying index.           
 Accordingly, your investment is subject to the market risk of each underlying index.                                                                                                                                                             |

| ◾ | Because the securities are linked to the performance of more than one underlying index, there is an increased probability that you will not receive a contingent quarterly coupon on any determination date                                     
 and that you will lose a significant portion or all of your investment in the securities.The risk that you will not receive a contingent quarterly coupon on any determination date and that you will lose a significant portion or             
 all of your investment in the securities is greater if you invest in the securities as opposed to securities that are linked to the performance of a single underlying index if their terms are otherwise substantially similar. With a greater 
 total number of underlying indices, it is more likely that the index closing value or the final index value, as applicable, ofanyunderlying index will be less than its coupon threshold level and/or                                           
 downside threshold level. Therefore, it is more likely that you will (a) not receive any contingent quarterly coupons and/or (b) receive an amount in cash that is worth less than your stated principal amount on the maturity date than would 
 have been the case had the securities been linked to only one underlying index. In addition, if the performances of the underlying indices are not correlated to each other, the risk that the index closing value (on any determination date   
 other than the final determination date) or the final index value, as applicable, ofanyunderlying index is less than its coupon threshold level or downside threshold level is even greater.                                                    |

Risks Relating to Characteristics of the Underlying Indices

| ◾ | The level of each underlying index will be affected by various factors that interact in complex and unpredictable ways.The return on the securities, which may be negative, is linked to the                                                   
 performance of each underlying index and indirectly linked to the value of the index constituent stocks. The level of each underlying index can rise or fall sharply due to factors specific to such underlying index or its index constituent 
 stocks and their issuers (the