Company: TDBCP
Filing Date: 2025-07-15
Form Type: 424B2
Source: 0001140361-25-025894
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-15
Form: 424B2
Chunk 5
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 negative return equal to the Least Performing Percentage Change if the Final Value of any Reference Asset is less than its Barrier Value, even if the Final Value of any other Reference Asset is greater than its Barrier Value. Accordingly, your investment is subject to the market risk of each Reference Asset. Because the Notes Are Linked to the Least Performing Reference Asset, You Are Exposed to a Greater Risk of Losing a Significant Portion or All of Your Initial Investment at Maturity Than if the Notes Were Linked to a Single Reference Asset. The risk that you will lose a significant portion or all of your initial investment in the Notes is greater if you invest in the Notes than the risk of investing in substantially similar securities that are linked to the performance of only one Reference Asset. With more Reference Assets, it is more likely that the Final Value of any Reference Asset will be less than its Barrier Value on the Final Valuation Date than if the Notes were linked to a single Reference Asset. In addition, the lower the correlation is between the performance of a pair of Reference Assets, the more likely it is that the Final Value of one of the Reference Assets will be less than its Barrier Value on the Final Valuation Date. Although the correlation of the Reference Assets’ performance may change over the term of the Notes, the economic terms of the Notes, including the Barrier Values and Digital Return, are determined, in part, based on the correlation of the Reference Assets’ performance calculated using our internal models at the time when the terms of the Notes are finalized. All things being equal, a higher Digital Return and lower Barrier Values are generally associated with lower correlation of the Reference Assets. Therefore, if the performance of a pair of Reference Assets is not correlated to each other or is negatively correlated, the risk that the Final Value of any Reference Asset will be less than its Barrier Value on the Final Valuation Date is even greater, despite a lower Barrier Value. Therefore, it is more likely that you will lose a significant portion or all of your initial investment at maturity. We Have No Affiliation With Any Index Sponsor and Will Not Be Responsible for Any Actions Taken by Any Index Sponsor. No index sponsor as specified under “Information Regarding the Reference Assets” (an “Index Sponsor”) is an affiliate of ours and no such entity will be involved in any offering of the Notes in any way. Consequently, we have no control of any actions of any Index Sponsor, including any actions of the type that could adversely affect the value of the applicable Reference Asset or any amounts payable on the Notes. No Index Sponsor