Company: TDBCP
Filing Date: 2025-08-22
Form Type: 424B2
Source: 0001140361-25-032314
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-22
Form: 424B2
Chunk 5
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 information filed periodically by the Sponsor with the SEC. You Will Have No Rights to Receive Any Shares of the Reference Asset or any Reference Asset Constituent and You Will Not Be Entitled to Any Distributions by the Sponsor. The Notes are our debt securities. They are not equity instruments, shares of stock, or securities of any other issuer. Investing in the Notes will not make you a holder of shares of the Reference Asset or the Reference Asset Constituents. You will not have any voting rights, any rights to receive distributions or any rights against the Sponsor. As a result, the return on your Notes will not reflect the return you would realize if you actually owned shares of the Reference Asset or owned the Reference Asset Constituents and received the distributions made in connection with the Reference Asset. The amount you receive on the Maturity Date, if anything, will be paid in cash and you have no right to receive delivery of shares of the Reference Asset or the Reference Asset Constituents.

| TD SECURITIES (USA) LLC | P-3 |

We Have No Affiliation with the Sponsor and Will Not Be Responsible for Any Actions Taken by Any Such Entity. The Sponsor is not an affiliate of ours and will not be involved in the offering of the Notes in any way. Consequently, we have no control over the actions of the Sponsor, including any actions of the type that would require the Calculation Agent to adjust the amount payable on the Notes. The Sponsor has no obligation of any sort with respect to the Notes. Thus, the Sponsor has no obligation to take your interests into consideration for any reason, including in taking any actions that might affect the value of the Reference Asset or the Notes. None of our proceeds from the issuance of the Notes will be delivered to the Sponsor. The SPDR ®Gold Trust Holds Only A Single Commodity and its Performance May Be More Volatile Than That of an ETF With More Diversified Holdings. The SPDR ®Gold Trust is an ETF that holds only a single commodity.Such ETF’s holdings lack diversification and does not have the benefit of other offsetting components that may increase when other components are decreasing. Because such ETF holds only a single commodity, the performance of such ETF may be more volatile than that of an ETF that holds multiple commodities or a broad -based commodity index, and the price of the constituents of such ETF may not correlate with, and may diverge significantly from, the prices of commodities generally. There are Risks in Securities Relating to Commodities Trading on the London Bullion Market