Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B2
Source: 0001140361-25-006242
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B2
Chunk 0
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| Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion, Dated February 27, 2025.

Pricing Supplement dated , 2025 to the Product Supplement MLN-EI-1 dated February 26, 2025 Underlier Supplement dated February 26, 2025 and Prospectus dated February 26, 2025

The Toronto-Dominion Bank (“TD” or “we”) is offering the Digital Contingent Absolute Return Buffered Notes with Downside Leverage (the “Notes”) linked to the S&P 500 ®Index (the “Reference Asset”). If the Final Level is greater than or equal to the Initial Level, then the percentage return on the Notes will be positive and equal to 23.10% (the “Digital Return”). In this scenario, the return on the Notes will equal the Digital Return, regardless of any increase of the Reference Asset. If the Final Level is less than the Initial Level but greater than or equal to 85.00% of the Initial Level (the “Buffer Level”), then the percentage return on the Notes will be positive and equal to the absolute value of the Percentage Change (the “Contingent Absolute Return”). In this scenario, due to the Buffer Level, the return on the Notes will not exceed 15.00%. If, however, the Final Level is less than the Buffer Level, investors will lose approximately 1.1765% of the Principal Amount of the Notes for each 1% decrease from the Initial Level to the Final Level of more than 15.00%, and may lose their entire investment in the Notes. In this scenario, investors will suffer a loss on their initial investment on a leveraged basis for each percentage decline of the Percentage Change from its Initial Level to its Final Level in excess of the Buffer Percentage. Specifically, investors will lose approximately 1.1765% of the Principal Amount of the Notes for each 1% that the Final Level is less than the Initial Level in excess of the Buffer Percentage and, because of the Downside Multiplier, may lose the entire Principal Amount. Any payments on the Notes are subject to our credit risk.

| The Notes do not guarantee the return of the Principal Amount and investors