Company: TDBCP
Filing Date: 2025-02-25
Form Type: 424B2
Source: 0001140361-25-005891
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-25
Form: 424B2
Chunk 0
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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 25, 2025.

| Pricing Supplement dated , 2025 to the              
 Product Supplement MLN-EI-1 dated March 4, 2022 and 
 Prospectus Dated March 4, 2022                      | Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-262557 |

General

| • | The Notes are designed for investors who (i) seek unleveraged exposure to a limited range of the percentage increase of the S&P 500®Index (the“Reference Asset”) from the Initial Level (as defined below) to the Closing Level of the Reference Asset on the Valuation Date (the “Final Level”), (ii) seek unleveraged inverse exposure to a 
 limited range of the percentage decline in the level of the Reference Asset, but only if the Final Level is greater than or equal to the Buffer Level, (iii) are willing to accept the risk of losing some or all of their Principal Amount and                                                                                               
 (iv) are willing to forgo interest and dividend payments.                                                                                                                                                                                                                                                                                     |

| • | If the Final Level is less than the Initial Level by more than 25.00%, investors will lose approximately 1.3333% of the Principal Amount of the Notes for each 1% decrease from the Initial Level 
 to the Final Level of more than 25.00% and may lose some or all of the Principal Amount.                                                                                                          |

| • | Any payments on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                     | The Toronto-Dominion Bank (“TD”)                                                                                                                              |
| Reference Asset:            | The S&P 500®Index (Bloomberg ticker: “SPX”)                                                                                                                   |
| Principal Amount:           | $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $1,000 in excess thereof.                                               |
| Term:                       | Approximately 2 years. In the event that we make any change to the expected Pricing Date and Issue Date, the Calculation Agent may adjust the Valuation       
 Date and the Maturity Date, to ensure that the stated term of the Notes remains the same.                                                                     |