Company: TDBCP
Filing Date: 2025-05-06
Form Type: 424B2
Source: 0001140361-25-017492
Chunk: 10

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-06
Form: 424B2
Chunk 10
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, and as a result, you may suffer substantial losses. The Temporary Price at Which the Underwriter May Initially Buy The Notes in the Secondary Market May Exceed Other Secondary Market Values and, Depending on Your Broker, the Valuation Provided on Your Customer Account Statements May Not Be Indicative of Future Prices of Your Notes. Assuming that all relevant factors remain constant after the Pricing Date, the price at which the Underwriter may initially buy or sell the Notes in the secondary market (if the Underwriter makes a market in the Notes, which it is not obligated to do) may, for a temporary period after the Pricing Date of the Notes, exceed the secondary market value of the Notes, as discussed further under “Supplemental Plan of Distribution (Conflicts of Interest).” During this temporary period such prices may, depending on your broker, be greater than the valuation provided on your customer account statements; you should inquire with your broker as to the valuation provided on your customer account statement. The price at which the Underwriter may initially buy or sell the Notes in the secondary market may not be indicative of future prices of your Notes. Risks Relating to Hedging Activities and Conflicts of Interest There Are Potential Conflicts of Interest Between You and the Calculation Agent. There are potential conflicts of interest between you and the Calculation Agent. We will serve as the Calculation Agent and may appoint a different Calculation Agent after the Issue Date without notice to you. The Calculation Agent will, among other things, determine the Interest Rate during each Interest Period and whether a Benchmark Transition Event and Benchmark Replacement Date have occurred, and the interest payments on the Notes. If the Calculation Agent determines that a Benchmark Transition Event and Benchmark Replacement Date have occurred, it will determine, among other things, the Benchmark Replacement Conforming Changes. The Calculation Agent will exercise its judgment when performing its functions and may take into consideration our ability to unwind any related hedges. Because this discretion by the Calculation Agent may affect payments on the Notes, the Calculation Agent may have a conflict of interest if it needs to make any such decision.

| TD SECURITIES (USA) LLC | P-8 |

Risks Relating to Canadian and U.S. Federal Income Taxation Significant Aspects of the Tax Treatment of the Notes May Be Uncertain. The U.S. tax treatment of the Notes may be uncertain. Please read carefully the section entitled “Material U.S. Federal Income Tax Consequences” below. You should consult your tax advisor about your tax situation. For a discussion of the Canadian federal income tax