Company: TDBCP
Filing Date: 2025-08-11
Form Type: 424B2
Source: 0001140361-25-030256
Chunk: 33

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-11
Form: 424B2
Chunk 33
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 determination or judicial ruling to the contrary, to characterize the securities as prepaid derivative contracts with respect to the underlying indices. If your securities are so treated, any contingent quarterly coupon 
 that is paid by TD (including on the maturity date or upon an issuer call) should be included in your income as ordinary income in accordance with your regular method of accounting for U.S. federal income tax purposes.                       
 In addition, excluding amounts attributable to any contingent quarterly coupon, you should                                                                                                                                                       |

| August 2025 | Page27 |

| $4,314,000 Callable Contingent Income Securities with Daily Coupon Observation due August 13, 2029     |
| Based on the Worst Performing of the Russell 2000®Index, the S&P 500®Index and the EURO STOXX 50®Index 
 Principal at Risk Securities                                                                           |

| generally recognize capital gain or loss upon the taxable disposition (including cash settlement) of your securities in an amount equal to the difference between the amount you receive at                                                      
 such time (other than amounts or proceeds attributable to a contingent quarterly coupon or any amount attributable to any accrued but unpaid contingent quarterly coupon) and the amount you paid for your securities. Such gain or loss should  
 generally be long-term capital gain or loss if you have held your securities for more than one year (and otherwise, short-term capital gain or loss). The deductibility of capital losses is subject to limitations. Although uncertain, it is   
 possible that proceeds received from the taxable disposition of your securities prior to a contingent coupon payment date, but that could be attributed to an expected contingent quarterly coupon, could be treated as ordinary income. You     
 should consult your tax advisor regarding this risk.                                                                                                                                                                                             |
| Except to the extent otherwise required by law, TD intends to treat your securities for U.S. federal income tax purposes in accordance with the treatment described above and under “Material                                                    
 U.S. Federal Income Tax Consequences” in the accompanying product supplement unless and until such time as the IRS and the Treasury determine that some other treatment is more appropriate.                                                     |
| Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, is of the opinion that it would                                                                           
 be reasonable to treat your securities in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the securities, it is possible that your securities could alternatively be treated 
 for tax purposes as a single contingent payment debt instrument, or pursuant