Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001140361-25-035069
Chunk: 19

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 19
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| ◾ | 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.                                                                                                                                                               |

| ◾ | The estimated value of your securities is not a prediction of the prices at which you may sell your securities in the secondary market, if any, and such secondary market                                                                     
 prices, if any, will likely be less than the public offering price of your securities and may be less than the estimated value of your securities.The estimated value of the securities is not a prediction of the prices at which            
 the agent, other affiliates of ours or third parties may be willing to purchase the securities from you in secondary market transactions (if they are willing to purchase, which they are not obligated to do). The price at which you may be 
 able to sell your securities in the secondary market at any time, if any, will be influenced by many factors that cannot be predicted, such as market conditions, and any bid and ask spread for similar sized trades, and may be             
 substantially less than the estimated value of the securities. Further, as secondary market prices of your securities take into account the levels at which our debt securities trade in the secondary market, and do not take into account   
 our various costs and expected profits associated with selling and structuring the securities, as well as hedging our obligations under the securities, secondary market prices of your securities will likely be less than the public        
 offering price of your securities. As a result, the price at which the agent, other affiliates of ours or third parties may be willing to purchase the securities