Company: TDBCP
Filing Date: 2025-03-21
Form Type: 424B2
Source: 0001140361-25-009853
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-21
Form: 424B2
Chunk 6
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 a Single Reference Asset or Fewer Reference Assets. The risk that you will suffer a loss on your initial investment in the Notes is greater if you invest in the Notes than the risk of investing in substantially similar securities that are linked to the performance of only one Reference Asset or fewer Reference Assets. With more Reference Assets, it is more likely that the Closing Price of any Reference Asset will be less than its Initial Price on the Valuation Date than if the Notes were linked to a single Reference Asset or fewer Reference Assets. In addition, the lower the correlation is between the performance of a pair of Reference Assets, the more likely it is that one of the Reference Assets will decline to a Closing Price that is less than its Initial Price on the Valuation Date. Although the correlation of the Reference Assets’ performance may change over the term of the Notes, the economic terms of the Notes, including the Digital Return are determined, in part, based on the correlation of the Reference Assets’ performance calculated using our internal models at the time when the terms of the Notes are finalized. All things being equal, a higher Digital Return is generally associated with lower correlation of the Reference Assets. Therefore, if the performance of a pair of Reference Assets is not correlated to each other or is negatively correlated, the risk that you will not receive the Digital Return and that the Final Price of any Reference Asset will be less than its Initial Price is even greater. Therefore, it is more likely that you will you will suffer a loss on your initial investment in the Notes. You Will Have No Rights That a Holder of Shares of a Reference Asset Would Have and You Will Not Be Entitled to Any Dividends or Other Distributions by any Reference Asset Issuer During the Term of the Notes. The Notes are our debt securities. They are not equity instruments, shares of stock, or securities of any other issuer. Your return on the Notes is limited to the Digital Return regardless of any percentage increase in the price of any Reference Asset beyond the Digital Return, which may be significant, even though you are subject to the downside market risk if the Final Price of any Reference Asset is less than its Initial Price. Unless and until you receive the Physical Delivery Amount of the Least Performing Reference Asset on the Maturity Date, investing in the Notes will not make you a holder of shares of any Reference Asset and you will not have any voting rights, any rights to receive dividends or other distributions, or any rights against any Reference Asset Issuer. As a result, the return on your Notes may not reflect the