Company: TDBCP
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001140361-25-038077
Chunk: 8

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-14
Form: 424B2
Chunk 8
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 federal income tax consequences of the notes are uncertain and, because of this uncertainty, there is a risk that the U.S. federal income tax consequences of the notes could differ materially and adversely from the treatment   
 described below in “Supplemental Discussion of U.S. Federal Income Tax Consequences”, as described further in product supplement STEPS-1 under “Material U.S. Federal Income Tax Consequences — Alternative Treatments”. You should consult 
 your tax advisor as to the tax consequences of an investment in the notes and the potential alternative treatments.                                                                                                                         |

| ◾ | For a discussion of the Canadian federal income tax consequences of investing in the notes, please see the discussion in the prospectus under “Tax Consequences — Canadian Taxation” and in the product supplement STEPS-1 under             
 “Supplemental Discussion of Canadian Tax Consequences” and the further discussion herein under “Summary of Canadian Federal Income Tax Consequences”. If you are not a Non-resident Holder (as that term is defined in the prospectus) for   
 Canadian federal income tax purposes or if you acquire the notes in the secondary market, you should consult your tax advisors as to the consequences of acquiring, holding and disposing of the notes and receiving the payments that might 
 be due under the notes.                                                                                                                                                                                                                      |

| STEP Income Securities® | TS-7 |

The Underlying Stock We have derived the following information from publicly available documents. We have not independently verified the accuracy or completeness of the following information. According to publicly available information, Chipotle Mexican Grill, Inc. (“Chipotle”) operates Chipotle Mexican Grill restaurants. Information filed by Chipotle with the SEC can be located by reference to its SEC file number: 001-32731, or its CIK Code: 0001058090. Chipotle’s common stock is listed on the New York Stock Exchange under the ticker symbol “CMG”. Because the Underlying Stock is registered under the Securities Exchange Act of 1934, the Underlying Company is required to file periodically certain financial and other information specified by the SEC. Information provided to or filed with the SEC by the Underlying Company can be located through the SEC’s website at http://www.sec.gov by reference to its CIK Code. This term sheet relates only to the notes and does not relate to the Underlying Stock or to any other securities of the Underlying Company. None of us, MLPF&S, BofAS or any of our respective affiliates has participated or will participate in the preparation of the Underlying Company