Company: TDBCP
Filing Date: 2025-10-31
Form Type: 424B2
Source: 0001140361-25-039953
Chunk: 25

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-31
Form: 424B2
Chunk 25
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, the Valuation Date. Notwithstanding these alternative arrangements, any delisting or suspension of trading in an equity security may adversely affect the market value of, and return on, the Notes. Anti-Dilution Adjustments The Initial Price, Buffer Price and/or any other relevant term, as applicable, of a Reference Asset may be adjusted by the Calculation Agent if any of the dilution events described below occurs with respect to such Reference Asset after the Pricing Date. The Calculation Agent will adjust the Initial Price, Buffer Price and/or any other relevant term, as applicable, for a Reference Asset as described below, but only if an event below under this section occurs with respect to a Reference Asset and the relevant event occurs during the period described under the applicable subsection. The Initial Price, Buffer Price and/or any other relevant term, as applicable, for a Reference Asset may each be subject to the adjustments described below, independently and separately, with respect to the dilution events that affect such Reference Asset. No such adjustments will be required unless such adjustments would result in a change of at least 0.1% to the Initial Price or Buffer Price of a Reference Asset and/or any other relevant term, as applicable. If more than one anti-dilution event requiring adjustment occurs with respect to the Initial Price or Buffer Price of a Reference Asset and/or any other relevant term, as applicable, the Calculation Agent will adjust its Initial Price, Buffer Price and/or any other relevant term, as applicable, for each event, sequentially, in the order in which the events occur, and on a cumulative basis. Therefore, having adjusted the Initial Price or Buffer Price of a Reference Asset and/or any other relevant term, as applicable, for the first event, the Calculation Agent will adjust its Initial Price, Buffer Price and/or any other relevant term, as applicable, for the second event, applying the required adjustment to its Initial Price, Buffer Price and/or any other relevant term, as applicable, as already adjusted for the first event, and so on for each event for such Reference Asset. If an event requiring an anti-dilution adjustment occurs, the Calculation Agent will make the adjustment with a view to offsetting, to the extent practical, any change in the economic position of the holder and us, relative to the affected Notes, that results solely from that event. Accordingly, the Calculation Agent may modify or make adjustments that differ from the anti-dilution adjustments discussed herein as necessary to ensure an equitable result. Share Splits and Share Dividends A share split is an increase