Company: TDBCP
Filing Date: 2025-11-07
Form Type: 424B2
Source: 0001140361-25-041128
Chunk: 16

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-07
Form: 424B2
Chunk 16
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 on a quarterly basis and adjust the weightings of components using a proprietary algorithm, if certain pre-established weight distribution requirements are not met. Historical Information The graph below illustrates the performance of the Reference Asset from November 5, 2015 through November 5, 2025. The dotted line represents the Barrier Level of 17,600.9606, which is equal to 68.70% of the Initial Level. Nasdaq-100 Index ®(NDX) PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

| TD SECURITIES (USA) LLC | P-12 |

Material U.S. Federal Income Tax Consequences The U.S. federal income tax consequences of your investment in the Notes are uncertain. No statutory, regulatory, judicial or administrative authority directly discusses how the Notes should be treated for U.S. federal income tax purposes. Some of these tax consequences are summarized below, but we urge you to read the more detailed discussion under “Material U.S. Federal Income Tax Consequences” in the product supplement and discuss the tax consequences of your particular situation with your tax advisor. This discussion is based upon the U.S. Internal Revenue Code of 1986, as amended (the “Code”), final, temporary and proposed U.S. Department of the Treasury (the “Treasury”) regulations, rulings and decisions, in each case, as available and in effect as of the date hereof, all of which are subject to change, possibly with retroactive effect. Tax consequences under state, local and non-U.S. laws are not addressed herein. No ruling from the U.S. Internal Revenue Service (the “IRS”) has been sought as to the U.S. federal income tax consequences of your investment in the Notes, and the following discussion is not binding on the IRS. Except as discussed under the heading “Non-U.S. Holders”, this discussion is applicable only to a U.S. holder that acquires Notes upon initial issuance and holds its Notes as a capital asset for U.S. federal income tax purposes. U.S. Tax Treatment.Pursuant to the terms of the Notes, TD and you agree, in the absence of a statutory or regulatory change or an administrative determination or judicial ruling to the contrary, to characterize your Notes as prepaid derivative contracts with respect to the Reference Asset. Pursuant to this treatment, any Contingent Interest Payments paid on the Notes (including any Contingent Interest Payments paid on or with respect to the Maturity Date) would be treated as ordinary income includable