Company: TDBCP
Filing Date: 2025-07-07
Form Type: 424B2
Source: 0001140361-25-025035
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-07
Form: 424B2
Chunk 12
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. reporting companies.

Prices of securities in foreign countries are subject to political, economic, financial and social factors that apply in those geographical regions. These factors, which could negatively affect those
    securities markets, include the possibility of recent or future changes in a foreign government’s economic and fiscal policies, the possible imposition of, or changes in, currency exchange laws or other laws or restrictions applicable to foreign
    companies or investments in foreign equity securities and the possibility of fluctuations in the rate of exchange between currencies, the possibility of outbreaks of hostility and political instability and the possibility of natural disaster or adverse
    public health developments in the region. Moreover, foreign economies may differ favorably or unfavorably from the U.S. economy in important respects such as growth of gross national product, rate of inflation, capital reinvestment, resources and
    self-sufficiency.

The notes are subject to risks associated with emerging markets.

An investment in the notes will involve risks not generally associated with investments which have no emerging market component. In particular, many emerging nations are undergoing rapid change,
    involving the restructuring of economic, political, financial and legal systems. Regulatory and tax environments may be subject to change without review or appeal. Many emerging markets suffer from underdevelopment of capital markets and tax
    regulation. The risk of expropriation and nationalization remains a threat. Guarding against such risks is made more difficult by low levels of corporate disclosure and unreliability of economic and financial data.

The Underlying Fund commenced trading recently and has limited actual historical information.

Because the Underlying Fund is of recent origin and limited actual historical performance data exists, your investment in the notes may involve a greater risk than investing in notes linked to an
    underlying with a more established record of performance.

A limited number of equity securities held by the Underlying Fund may affect its price.

As of July 2, 2025, the top holding of the Underlying Fund, Taiwan Semiconductor Manufacturing (“TSM”), constituted 14.56% of the total weight of the Underlying Fund. In contrast, the second highest
    holding of the Underlying Fund constituted just 3.34% of the total weight of the Underlying Fund as of the same date. As a result, the performance of the Underlying Fund will depend significantly on the performance of TSM. Any reduction in the market
    price of TSM is likely to have a substantial adverse impact on the price of the Underlying Fund and the value of the notes. Since the Underlying Fund does not