Company: TDBCP
Filing Date: 2025-12-09
Form Type: 424B2
Source: 0001140361-25-044985
Chunk: 3

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-09
Form: 424B2
Chunk 3
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 may lose up to 90.00% of their investment in the Notes. Specifically, if the Final Value is less than the Buffer Value, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Value is less than the Initial Value in excess of the Buffer Amount, and may lose up to 90.00% of the Principal Amount. Your Potential Return Is Limited by the Maximum Redemption Amount and May Be Less Than the Return on a Hypothetical Direct Investment in the Reference Asset. The opportunity to participate in the possible increase in the value of the Reference Asset through an investment in the Notes is limited because the Payment at Maturity will not exceed the Maximum Redemption Amount. Accordingly, your return on the Notes may be less than that of a hypothetical direct investment in the Reference Asset or the stocks and other assets comprising the Reference Asset (the “Reference Asset Constituents”) or in a security directly linked to the positive performance of the Reference Asset or the Reference Asset Constituents. The Notes Do Not Pay Interest and Your Return May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. There will be no periodic interest payments on the Notes as there would be on a conventional fixed-rate or floating-rate debt security having 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 on the Notes 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. The Payment at Maturity is Not Linked to the Closing Value of the Reference Asset at Any Time Other Than the Valuation Date. Any payment on the Notes will be based on the Final Value, which will be the Closing Value of the Reference Asset on the Valuation Date. Therefore, if the Closing Value of the Reference Asset dropped precipitously on the 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 Value of the Reference Asset prior to such drop. Although the actual Closing Value of the Reference Asset on the Maturity Date or at other times during the term of your Notes may be higher than its Closing Value on the Valuation Date, you will not benefit from the Closing Value of the Reference Asset at any time other than the Valuation Date. Risks Relating to Characteristics of the Reference Asset There Are