Company: TDBCP
Filing Date: 2025-08-25
Form Type: 424B2
Source: 0001140361-25-032463
Chunk: 17

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-25
Form: 424B2
Chunk 17
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 if you held your Notes to the Maturity Date, you would not benefit from any increase in the Final Level that is greater than 109.340% of the Initial Level. P-12 The following examples illustrate the hypothetical Payment at Maturity for each Note based on hypothetical Final Levels of the Reference Asset, calculated based on the key terms and assumptions above. The values below have been rounded for ease of analysis.

| Example 1 
 —         | Calculation of the Payment at Maturity where the Percentage Change is positive (and the Final Level is below the Cap Level).                                                                                                                    |                                                                                                                                                                                          |
|           | Percentage Change:                                                                                                                                                                                                                              | 5.00%                                                                                                                                                                                    |
|           | Payment at Maturity:                                                                                                                                                                                                                            | $1,000.00 + ($1,000.00 × 125.00% × 5.00%) = $1,000.00 + $62.50 = $1,062.50                                                                                                               |
|           | On a $1,000.00 investment, a Percentage Change of 5.00% results in a Payment at Maturity of $1,062.50, a return of 6.250% on the Notes.                                                                                                         |                                                                                                                                                                                          |
| Example 2 
 —         | Calculation of the Payment at Maturity where the Percentage Change is positive (and the Final Level is above or equal to the Cap Level).                                                                                                        |                                                                                                                                                                                          |
|           | Percentage Change:                                                                                                                                                                                                                              | 30.00%                                                                                                                                                                                   |
|           | Payment at Maturity:                                                                                                                                                                                                                            | $1,000.00 + ($1,000.00 × 125.00% × 30.00%) = $1,000.00 + $375.00 = $1,375.00. However, the Maximum Payment Amount is $1,116.75 and therefore the Payment at Maturity would be $1,116.75. |
|           | On a $1,000.00 investment, a Percentage Change of 30.00% results in a Payment at Maturity of $1,116.75, a return of 11.675% on the Notes.                                                                                                       
 In addition to limiting your return on the Notes, the Maximum Payment Amount limits the positive effect of the Leverage Factor. If the Final Level is greater than the Initial Level, you will                                                  
 participate in the performance of the Reference Asset at a rate of 125.00% up to a certain point. However