Company: TDBCP
Filing Date: 2025-05-05
Form Type: 424B2
Source: 0001140361-25-017254
Chunk: 38

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-05
Form: 424B2
Chunk 38
---
, which is described more fully below. In order to prevent the value of the AS51 from changing due to corporate actions, all corporate actions may require S&P to make an index or divisor adjustment, as described in S&P’s rules. This helps maintain the value of the AS51 and ensures that the movement of the AS51 does not reflect the corporate actions of the individual companies that comprise the AS51. In situations where an exchange is forced to close early due to unforeseen events, such as computer or electric power failures, weather conditions or other events, S&P will calculate the closing price of the indices based on (1) the closing prices published by the exchange or (2) if no closing price is available, the last regular trade reported for each security before the exchange closed. If the exchange fails to open due to unforeseen circumstances, S&P treats this closure as a standard market holiday. The AS51 will use the prior day’s closing prices and shifts any corporate actions to the following business day. If all exchanges fail to open or in other extreme circumstances, S&P may determine not to publish the AS51 for that day. S&P reserves the right to recalculate the AS51 under certain limited circumstances.

| Capped Notes with Absolute Return Buffer | TS-25 |

| Capped Notes with Absolute Return BufferLinked to an International Equity Index Basket due May, 2027 |

The following graph shows the daily historical performance of the AS51 in the period from January 1, 2015 through April 30, 2025. We obtained this historical data from Bloomberg L.P. We have not independently verified the accuracy or completeness of the information obtained from Bloomberg L.P. On April 30, 2025, the closing level of the AS51 was 8,126.207. Historical Performance of the S&P ®/ASX 200 Index This historical data on the AS51 is not necessarily indicative of the future performance of the AS51 or what the value of the notes may be. Any historical upward or downward trend in the level of the AS51 during any period set forth above is not an indication that the level of the AS51 is more or less likely to increase or decrease at any time over the term of the notes. Before investing in the notes, you should consult publicly available sources for the levels of the AS51. License Agreement The AS51 is a product of S&P, and has been licensed for use by us. Standard & Poor’s ®and S&P ®are registered trademarks of Standard & Poor