Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001140361-25-035069
Chunk: 22

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 22
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 a different calculation agent after the original issue date without notice to you. The calculation agent will exercise its judgment when performing its functions and may   
 have a conflict of interest if it needs to make certain decisions. For example, the calculation agent may have to determine whether a market disruption event affecting an underlying index has occurred, and make certain adjustments if      
 certain events occur, which may, in turn, depend on the calculation agent’s judgment as to whether the event has materially interfered with our ability or the ability of one of our affiliates to unwind our hedge positions. Because this    
 determination by the calculation agent may affect the amounts payable on the securities, the calculation agent may have a conflict of interest if it needs to make a determination of this kind. For additional information on the calculation 
 agent’s role, see “General Terms of the Notes — Role of Calculation Agent” in the product supplement.                                                                                                                                          |

| ◾ | The observation period end-dates and related payment dates are subject to market disruption events and postponements.Each observation period end-date (including the                                                                          
 final observation period end-date) and related payment date (including the maturity date) is subject to postponement due to the occurrence of one of more market disruption events. For a description of what constitutes a market disruption 
 event as well as the consequences of that market disruption event, see “General Terms of the Notes — Market Disruption Events” in the product supplement. A market disruption event for a particular underlying index will not constitute a   
 market disruption event for any other underlying index.                                                                                                                                                                                       |

| ◾ | Trading and business activities by TD or its affiliates may adversely affect the market value of, and any amounts payable on, the securities. We, the agent and/or our                                                                         
 other affiliates may hedge our obligations under the securities by purchasing securities, futures, options or other derivative instruments with returns linked or related to changes in the value of an underlying index or one or more index  
 constituent stocks, and we may adjust these hedges by, among other things, purchasing or selling at any time any of the foregoing assets. It is possible that we or one or more of our affiliates could receive substantial returns from these 
 hedging activities while the market value of the securities declines. We or one or more of our affiliates may also issue or underwrite other securities or financial or derivative instruments with returns linked or related to changes in an 
 underlying index or one or more index constituent stocks.                                                                                                                                                                                      |

| September 2025 | Page14 |

| $22,951,000