Company: TDBCP
Filing Date: 2025-04-15
Form Type: 424B2
Source: 0001140361-25-013933
Chunk: 17

Company: TORONTO DOMINION BANK
Filing Date: 2025-04-15
Form: 424B2
Chunk 17
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 ■ | The estimated value of your securities is based on our internal funding rate.The estimated value of your securities is determined by reference to our internal                                                                                
 funding rate. The internal funding rate used in the determination of the estimated value of the securities generally represents a discount from the credit spreads for our conventional, fixed-rate debt securities and the borrowing rate we 
 would pay for our conventional, fixed-rate debt securities. This discount is based on, among other things, our view of the funding value of the securities as well as the higher issuance, operational and ongoing liability management costs 
 of the securities in comparison to those costs for our conventional, fixed-rate debt, as well as estimated financing costs of any hedge positions, taking into account regulatory and internal requirements. If the interest rate implied by  
 the credit spreads for our conventional, fixed-rate debt securities, or the borrowing rate we would pay for our conventional, fixed-rate debt securities were to be used, we would expect the economic terms of the securities to be more     
 favorable to you. Additionally, assuming all other economic terms are held constant, the use of an internal funding rate for the securities is expected to increase the estimated value of the securities at any time.                        |

| ■ | The estimated value of the securities is based on our internal pricing models, which may prove to be inaccurate and may be different from the pricing models of other                                                                          
 financial institutions.The estimated value of your securities is based on our internal pricing models when the terms of the securities are set, which take into account a number of variables, such as our internal funding rate on            
 the pricing date, and are based on a number of subjective assumptions, which are not evaluated or verified on an independent basis and may or may not materialize. Further, our pricing models may be different from other financial           
 institutions’ pricing models and the methodologies used by us to estimate the value of the securities may not be consistent with those of other financial institutions that may be purchasers or sellers of securities in the secondary        
 market. As a result, the secondary market price of your securities may be materially less than the estimated value of the securities determined by reference to our internal pricing models. In addition, market conditions and other relevant 
 factors in the future may change, and any assumptions may prove to be incorrect.                                                                                                                                                               |

| April 2025 | Page13 |

| $14,131,000 Contingent Income Auto-Callable Securities due April 15, 2027                            |
| Based on the Worst Performing of the Nasdaq-100 Index®, the Russell