Company: TDBCP
Filing Date: 2025-11-18
Form Type: 424B2
Source: 0001140361-25-042587
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-18
Form: 424B2
Chunk 13
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 than one underlying stock, there is an increased probability that you will not receive a contingent quarterly coupon on any determination date                                      
 and that you will lose a significant portion or all of your investment in the securities. The risk that you will not receive a contingent quarterly coupon on any determination date and that you will lose a significant portion or             
 all of your investment in the securities is greater if you invest in the securities as opposed to securities that are linked to the performance of a single underlying stock if their terms are otherwise substantially similar. With a greater  
 total number of underlying stocks, it is more likely that the closing price or the final share price, as applicable, ofanyof the underlying stocks will be less than its coupon threshold price                                                  
 and/or downside threshold price. Therefore, it is more likely that you will (a) not receive any contingent quarterly coupons and/or (b) receive an amount in cash that is worth less than your stated principal amount on the maturity date than 
 would have been the case had the securities been linked to only one of the underlying stocks. In addition, if the performances of the underlying stocks are not correlated to each other, the risk that the closing price (on any determination  
 date other than the final determination date) or the final share price, as applicable, of any of the underlying stocks is less than its coupon threshold price or downside threshold price is even greater.                                      |

Risks Relating to Characteristics of the Underlying Stocks

| ■ | The price of each underlying stock will be affected by various factors that interact in complex and unpredictable ways.The return on the securities, which may be negative, is linked to the                                                  
 performance of each underlying stock. The price of each underlying stock can rise or fall sharply due to factors specific to their issuers (each, an “underlying stock issuer”), such as stock or commodity price volatility, earnings,       
 financial conditions, corporate, industry and regulatory developments, management changes and decisions and other events, as well as general market factors, such as general stock market or commodity market volatility and prices, interest 
 rates and economic and political conditions. You, as an investor in the securities, should make your own investigation into the underlying stocks and the underlying stock issuers. For additional information regarding the underlying stock 
 issuers, please see “Information About the Underlying Stocks” below and the SEC filings referred to in that section.We urge you to review financial and other information filed periodically by the underlying                                
 stock issuers with the SEC.                                                                                                                                                                                                                   |

| November 202