Company: TDBCP
Filing Date: 2025-07-09
Form Type: 424B2
Source: 0001140361-25-025346
Chunk: 11

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-09
Form: 424B2
Chunk 11
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 ®Oil & Gas Exploration & Production ETF is subject to management risk, which is the risk that its Investment Adviser’s investment strategy, the implementation of which is subject to a number of constraints, may not produce the intended results. Additionally, the SPDR ®S&P ®Biotech ETF and SPDR ®S&P ®Oil & Gas Exploration & Production ETF is not managed according to traditional methods of “active” investment management, which involves the buying and selling of securities based on economic, financial and market analysis and investment judgment. Instead, utilizing a “passive” or indexing investment approach, it attempts to approximate the investment performance of its Target Index by investing in Reference Asset Constituents that generally replicate its Target Index. Therefore, unless a specific stock is removed from its Target Index, the SPDR ®S&P ®Biotech ETF and SPDR ®S&P ®Oil & Gas Exploration & Production ETF generally would not sell a stock because that stock’s issuer was in financial trouble. The Notes are Subject to Risks Associated with the Biotechnology and Pharmaceutical Industries. The Notes are subject to risks associated with the biotechnology and pharmaceutical industries because all or substantially all of the Reference Asset Constituents of the SPDR ®S&P ®Biotech ETF are issued by companies whose primary lines of business are in the biotechnology and pharmaceutical industries. Companies in the pharmaceuticals industry may be affected by industry competition, dependencies on a limited number of products, obsolescence of products, government approvals and regulations, loss or impairment of intellectual property rights and litigation regarding product liability. Biotechnology companies face intense competition and the potential for rapid product obsolescence and may be adversely affected by the loss or impairment of intellectual property rights or changes in government regulations. Because the Reference Asset Constituents of the SPDR ®S&P ®Biotech ETF are concentrated in the biotechnology and pharmaceutical industries, the Notes may be subject to greater volatility and be more adversely affected by a single economic, environmental, political or regulatory occurrence affecting these industries than an investment linked to a more broadly diversified group of securities. The Notes Are Subject to Risks Associated With the Gas and Oil Services Sector. The Notes are subject to risks associated with the gas and oil services sector because the SPDR ®S&P ®Oil & Gas Exploration & Production ETF is comprised of the stocks of companies primarily engaged in the gas and oil services sector. The profitability of companies in the oil services sector is related to worldwide energy prices, including all sources of energy, and exploration and production spending. The price of energy,