Company: TDBCP
Filing Date: 2025-08-19
Form Type: 424B2
Source: 0001140361-25-031886
Chunk: 21

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-19
Form: 424B2
Chunk 21
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 of your income from the Buffered PLUS could differ materially          |

| August 2025 | Page17 |

| $18,866,000.00 Dual Directional Buffered PLUS Based on the Value of the S&P 500®Index due September 3, 2027 
 Buffered Performance Leveraged Upside SecuritiesSM                                                          
 Principal at Risk Securities                                                                                |

| and adversely from the treatment described above, as described further under “Material U.S. Federal Income Tax Consequences”, in the accompanying product                                                                                        
 supplement. There may be also a risk that the IRS could assert that the Buffered PLUS should not give rise to long-term capital gain or loss because the Buffered PLUS offer, at least in part, short exposure to the underlying index.          
 Except to the extent otherwise required by law, TD intends to treat your Buffered PLUS for U.S. federal income tax purposes in accordance with the treatment described above                                                                     
 and under “Material U.S. Federal Income Tax Consequences” in the accompanying product supplement, unless and until such time as the Treasury and the IRS determine that some other treatment is more appropriate.                                
 Notice 2008-2.In 2007, the IRS released a notice that may affect the taxation of holders of the Buffered PLUS. According to Notice                                                                                                               
 2008-2, the IRS and the Treasury are considering whether a holder of an instrument such as the Buffered PLUS should be required to accrue ordinary income on a current basis. It is not possible to determine what guidance they will ultimately 
 issue, if any. It is possible, however, that under such guidance, holders of the Buffered PLUS will ultimately be required to accrue income currently and this could be applied on a retroactive basis. According to the Notice, the IRS and the 
 Treasury are also considering other relevant issues, including whether additional gain or loss from such instruments should be treated as ordinary or capital, whether non-U.S. holders of such instruments should be subject to withholding tax 
 on any deemed income accruals, and whether the special “constructive ownership rules” of Section 1260 of the Code should be applied to such instruments. Both U.S. and non-U.S. holders are urged to consult their tax advisors concerning the   
 significance, and the potential impact, of the above considerations.                                                                                                                                                                             
 Medicare Tax on Net Investment Income. U.S. holders that are individuals, estates or certain trusts are subject to an additional 3.8%                                                                                                            
 tax on all or a portion of their “net investment income,” or “und