Company: TDBCP
Filing Date: 2025-03-04
Form Type: 424B3
Source: 0001140361-25-006811
Chunk: 3

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-04
Form: 424B3
Chunk 3
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 references are to TD. You are urged to consult with your own attorneys and business and tax advisors before making a decision to purchase any ARNs.

PS-5 RISK FACTORS Your investment in ARNs is subject to investment risks, many of which differ from those of a conventional debt security. Your decision to purchase ARNs should be made only after carefully considering the risks, including those discussed below, together with the risk information contained in the accompanying prospectus and applicable term sheet, in light of your particular circumstances. ARNs are not an appropriate investment for you if you are not knowledgeable about the material terms of ARNs or investments in equity or equity-based securities in general. Structure-Related Risks Your investment may result in a loss; there is no guaranteed return of principal.There is no fixed principal repayment amount on ARNs at maturity. The return on ARNs will be based on the performance of the Market Measure and, if the value of the Market Measure decreases from the Starting Value to the Ending Value, you will lose some or all of your investment. Your return on ARNs may be less than the yield on a conventional fixed- or floating-rate debt security of comparable maturity.There will be no periodic interest payments on ARNs as there would be on a conventional fixed-rate or floating-rate debt security having the same maturity. Any return that you receive on ARNs may be less than the return you would earn if you purchased a conventional debt security with the same maturity date. As a result, your investment in ARNs may not reflect the full opportunity cost to you when you consider factors, such as inflation, that affect the time value of money. Your investment return will be limited to the return represented by the Capped Value and may be less than a comparable investment directly in an Underlying Fund or the securities or other assets included in the Market Measure, as applicable.The appreciation potential of ARNs is limited to the Capped Value. You will not receive a Redemption Amount greater than the Capped Value, regardless of the extent of the increase in the value of the Market Measure. In contrast, a direct investment in the Market Measure (or any securities, commodities or other assets represented by the Market Measure (the “ Underlying Constituents”)) would allow you to receive the full benefit of any appreciation in the value of the Market Measure (or those Underlying Constituents). In addition, unless otherwise set forth in the applicable term sheet and in “Description of ARNs––Anti-Dilution and Discontinuance Adjustments Relating to Under