Company: TDBCP
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036947
Chunk: 20

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-26
Form: 424B5
Chunk 20
---
 Benchmark Transition Event and its related Benchmark Replacement Date have occurred, we or our designee will make certain determinations with respect to the notes in our or our designee’s sole
discretion as further described under “Description of the Notes We May Offer—Interest Rates—SOFR Notes” and the preceding risk factor “—SOFR May Be Modified or Discontinued and the Notes May Bear Interest by Reference to a Rate Other Than Compounded SOFR, which Could Adversely Affect the Value of the Notes.”

Any of these
determinations may adversely affect the value of the notes, the return on the notes and the price at which you can sell such notes. Moreover, certain determinations may require the exercise of discretion and the making of subjective judgments, such
as with respect to Compounded SOFR (as defined herein) or the occurrence or non-occurrence of a Benchmark Transition Event and any Benchmark Replacement Conforming Changes or if an index is changed or becomes
unavailable. These potentially subjective determinations may adversely affect the value of the notes, the return on the notes and the price at which you can sell such notes. For further information regarding these types of determinations, see
“Description of the Notes We May Offer—Interest Rates—SOFR Notes.”

S-13

In no event shall the calculation agent be responsible for determining whether a Benchmark
Transition Event and its related Benchmark Replacement Date have occurred or for determining any Alternative Rate or adjustments thereto, a Benchmark Replacement or any Benchmark Replacement Adjustment to any alternative benchmark or spread thereon,
the business day convention, interest determination dates or any other relevant methodology for calculating any such substitute or successor benchmark. In connection with the foregoing, the calculation agent will be entitled to conclusively rely on
any determinations made by us or our designee and will have no liability for such actions taken at the direction of us or our designee.

Risks Relating to Notes Denominated or Payable in or Linked to a Non-U.S.Dollar Currency

If you intend to
invest in a non-U.S. dollar note—e.g., a note whose principal and/or interest is payable in a currency other than U.S. dollars or that may be settled by delivery of or reference to a non-U.S. dollar currency or property denominated in or otherwise linked to a non-U.S. dollar currency—you should consult your own financial, legal or other advisors as to
the currency risks entailed by your investment, as well as the other risks (including tax) relating