Company: TDBCP
Filing Date: 2025-08-04
Form Type: 424B2
Source: 0001140361-25-028550
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-04
Form: 424B2
Chunk 13
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 coupons during the term of, and you will not receive a positive return on, your securities. Generally, this non-payment of the         
 contingent quarterly coupon coincides with a period of greater risk of principal loss on your securities. Because there is more than one underlying index, 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 underlying index.                                       |

| ◾ | Greater expected volatility with respect to, and lower expected correlation of, the underlying indices generally reflects a higher contingent quarterly coupon and a higher expectation as of the pricing                                        
 date that the index closing value of any of the underlying indices could be less than its downside threshold level.Greater expected volatility with respect to, and lower expected correlation of, the underlying indices reflects a             
 higher expectation as of the pricing date that the final index value of any of the underlying indices could be less than its downside threshold level. “Volatility” refers to the frequency and magnitude of changes in the level of an asset or 
 group of assets. This greater expected risk will generally be reflected in a higher contingent quarterly coupon for that security than would have been the case if expected volatility of the underlying indices been lower. However, while the  
 contingent quarterly coupon is set on the pricing date based, in part, on the correlations of the underlying indices and each underlying index’s volatility calculated using our internal models, an underlying index’s volatility, and the      
 correlation of the underlying indices, can change significantly over the term of the securities. The level of any underlying index could fall sharply, which could result in the loss of a significant portion or all of your investment in the  
 securities.                                                                                                                                                                                                                                      |

| ◾ | TD may elect to redeem the securities at its discretion and the securities are subject to reinvestment risk.TD may elect to redeem the securities at its discretion prior to the maturity date. If                                               
 TD elects to redeem the securities at its discretion prior to maturity, you will no longer have the opportunity to receive any contingent quarterly coupons after the applicable redemption date. The first potential redemption date occurs     
 after approximately three months and therefore you may not have the opportunity to receive any contingent quarterly coupons after approximately three months. In the event that the TD elects to redeem the securities at its discretion prior   
 to maturity, there is no guarantee that you will be able to reinvest the proceeds from an