Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001140361-25-035084
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
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**The information in this preliminary pricing supplement is not complete and
    may be changed. We may not sell these PLUS until the pricing supplement, the accompanying product supplement, underlier supplement and prospectus (collectively, the “Offering Documents”) are delivered in final form. The Offering Documents are not an
    offer to sell these PLUS and we are not soliciting offers to buy these PLUS in any state where the offer or sale is not permitted.**

#### Subject to Completion
| September 2025                                           
 Preliminary Pricing Supplement                           
 Dated September 16, 2025                                 
 Registration Statement No. 333-283969                    
 Filed pursuant to Rule 424(b)(2)                         
 (To Prospectus dated February 26, 2025                   
 Underlier Supplement dated February 26, 2025             
 and Product Supplement MLN-EI-1 dated February 26, 2025) |

### STRUCTURED INVESTMENTS
Opportunities in U.S. Equities

PLUS Based on the Value of the S&P 500 ® Index due September 15, 2027

#### Performance Leveraged Upside SecuritiesSM

#### Principal at Risk Securities
**The PLUS will pay no interest and do not guarantee any return of principal at maturity. At maturity, if the final index value of the underlying index is greater than the initial index value, investors
    will receive the stated principal amount of their investment plus the leveraged upside performance of the underlying index, subject to the maximum payment at maturity. However, if the final index value is less
    than the initial index value, investors will lose 1% for every 1% that the final index value falls below the initial index value. Under these circumstances, the payment at maturity will be less than the stated principal amount and could be zero. Accordingly, the PLUS do not guarantee any return of principal at maturity and you could lose some or all of your investment in the PLUS. The PLUS are for investors who seek an equity index-based return and who are
    willing to risk their principal and forgo current income and upside above the maximum payment at maturity in exchange for the leverage feature which applies to a limited range of positive performance of the underlying index. The PLUS are senior
    unsecured debt securities issued by The Toronto-Dominion Bank (“TD” or “we”). The PLUS are notes issued as part of TD’s Senior Debt Securities, Series H.

All payments on the PLUS are subject to the credit risk of TD. If TD were to