Company: TDBCP
Filing Date: 2025-03-14
Form Type: 424B2
Source: 0001140361-25-008837
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-14
Form: 424B2
Chunk 4
---
 any changes to the terms of the Notes, we will notify you and you will be asked to accept such changes in connection with your purchase. You may also choose to reject such changes, in which case we may reject your offer to purchase.

| TD SECURITIES (USA) LLC | P-5 |

Additional Risk Factors The Notes involve risks not associated with an investment in conventional debt securities. This section describes the most significant risks relating to the terms of the Notes. For additional information as to these and other risks, please see “Additional Risk Factors Specific to the Notes” in the product supplement and “Risk Factors” in the prospectus. Investors should consult their investment, legal, tax, accounting and other advisors as to the risks entailed by an investment in the Notes and the suitability of the Notes in light of their particular circumstances. Risks Relating to Return Characteristics Your Investment in the Notes May Result in a Loss. The Notes do not guarantee the return of the Principal Amount and investors may lose up to their entire investment in the Notes. Specifically, if the Final Value of any Reference Asset is less than its Barrier Value, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Value of the Least Performing Reference Asset is less than its Initial Value, and may lose the entire Principal Amount. The Notes Do Not Pay Interest and Your Return on the Notes May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. There will be no periodic interest payments on the Notes as there would be on a conventional fixed-rate or floating-rate debt security having a comparable maturity. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. Even if your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest -bearing senior debt security of TD of comparable maturity. Your Potential Return Will Be Limited By the Maximum Redemption Amount and May Be Less Than the Return on a Hypothetical Direct Investment in The Least Performing Reference Asset. The opportunity to participate in the possible increases in the level of the Least Performing Reference Asset through an investment in the Notes will be limited because the Payment at Maturity will not exceed the Maximum Redemption Amount. Furthermore, if the Least Performing Percentage Change is positive, the effect of the Leverage Factor will not be taken into account for any Least Performing Percentage Change that results in a Payment at Maturity that is greater than the Maximum Redemption