Company: TDBCP
Filing Date: 2025-01-02
Form Type: 424B2
Source: 0001140361-25-000045
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-02
Form: 424B2
Chunk 4
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 a comparable maturity. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. Even if your return is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security of TD of comparable maturity. Your Potential Return Will Be Limited By The Maximum Redemption Amount and May Be Less Than the Return on a Hypothetical Direct Investment in The Least Performing Reference Asset. The opportunity to participate in the possible increases in the level of the Least Performing Reference Asset through an investment in the Notes will be limited because the Payment at Maturity will not exceed the Maximum Redemption Amount. Furthermore, if the Least Performing Percentage Change is positive, the effect of the Leverage Factor will not be taken into account for any Least Performing Percentage Change that results in a Payment at Maturity that is greater than the Maximum Redemption Amount, regardless of any further increase in the Final Value of the Least Performing Reference Asset. Accordingly, your return on the Notes may be less than your return would be if you made an investment in a note directly linked to the performance of any Reference Asset or made a hypothetical investment in any Reference Asset or the stocks comprising any Reference Asset (the “Reference Asset Constituents”). The Payment at Maturity Is Not Linked to the Closing Value of Any Reference Asset at Any Time Other than the Final Valuation Date. The Final Value of each Reference Asset will be based on the Closing Value of that Reference Asset on the Final Valuation Date. Therefore, if the Closing Value of any Reference Asset dropped precipitously on the Final Valuation Date, the Payment at Maturity for your Notes may be significantly less than it would have been had the Payment at Maturity been linked to the Closing Values of the Reference Assets prior to such drop. Although the actual Closing Values of the Reference Assets on the Maturity Date or at other times during the term of your Notes may be higher than their Closing Values on the Final Valuation Date, your return is based only on the Closing Value of the Least Performing Reference Asset on the Final Valuation Date. Risks Relating to Characteristics of the Reference Assets There Are Market Risks Associated With Each Reference Asset. The value of each Reference Asset can rise or fall sharply due to factors specific to such Reference Asset, its Reference Asset Constituents and their issuers (the “Reference Asset Constituent Issuers”), such as stock price volatility, earnings, financial conditions, corporate, industry and regulatory developments, management changes and