Company: TDBCP
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001140361-25-026682
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-22
Form: 424B2
Chunk 9
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 the Notes on the Pricing Date, as well as the secondary market value of the Notes, for a temporary period after the Pricing Date of the Notes, as discussed further under “Additional Information Regarding the Estimated Value of the Notes.” The price at which TDS may initially buy or sell the Notes in the secondary market may not be indicative of future prices of your Notes. The Market Value of Your Notes May Be Influenced by Many Unpredictable Factors. When we refer to the market value of your Notes, we mean the value that you could receive for your Notes if you chose to sell them in the open market before the Maturity Date. A number of factors, many of which are beyond our control, will influence the market value of your Notes, including:

| • | the price of the Reference Asset; |

| • | the volatility – i.e., the frequency and magnitude of changes – in the price of the Reference Asset; |

| • | the dividend rates of the Reference Asset, if applicable; |

| • | economic, financial, regulatory and political, military, public health or other events that may affect stock markets generally and the market segment of which the Reference Asset is a part, and which may affect 
 the market price of                                                                                                                                                                                                |

P-8

| the Reference Asset; |

| • | interest rates and yield rates in the market; |

| • | the time remaining until your Notes mature; and |

| • | our creditworthiness, whether actual or perceived, and including actual or anticipated upgrades or downgrades in our credit ratings or changes in other credit measures. |

These factors will influence the price you will receive if you sell your Notes before maturity, including the price you may receive for your Notes in any market-making transaction. If you sell your Notes prior to maturity, you may receive less than the Principal Amount of your Notes. The future prices of the Reference Asset cannot be predicted. The actual change in the price of the Reference Asset over the term of the Notes, as well as the Payment at Maturity, may bear little or no relation to the hypothetical historical closing prices of the Reference Asset or to the hypothetical examples shown elsewhere in this pricing supplement. There May Not Be an Active Trading Market for the Notes — Sales in the Secondary Market May Result in Significant Losses. There may be little or no secondary market for the Notes. The Notes will not be listed or displayed on any securities exchange or electronic communications network. TDS and our affiliates may make a market for the Notes; however, they are not required