Company: TDBCP
Filing Date: 2025-10-20
Form Type: 424B2
Source: 0001140361-25-038595
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-20
Form: 424B2
Chunk 15
---
 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 trading day during a quarterly observation period) 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 “index constituent stock issuers”), such as stock or commodity price volatility, earnings, financial conditions, corporate, industry and regulatory developments, management changes and decisions and other events, 
 as well as general market factors, such as general stock market or commodity market volatility and levels, interest rates and economic and political conditions. You, as an investor in the securities, should make your own investigation into    
 the underlying indices and the index constituent stocks.                                                                                                                                                                                           |

| ◾ | There can be no assurance that the investment view implicit in the securities will be successful.It is impossible to predict whether and the extent to which the levels of the underlying indices                                                
 will rise or fall and there can be no assurance that the index closing values ofallof the underlying indices on each trading day during any quarterly observation period will be greater than or equal                                           
 to their coupon threshold levels, or, if the securities are not redeemed prior to maturity, that the final index value ofallof the underlying indices on the final valuation date will be greater than                                           
 or equal to their downside threshold levels. The levels