Company: TDBCP
Filing Date: 2025-09-18
Form Type: 424B2
Source: 0001140361-25-035354
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-18
Form: 424B2
Chunk 0
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| The information in this preliminary term sheet is not complete and may be changed. We may not sell these notes until the final term sheet is delivered in final form. We are not 
 selling these notes, nor are we soliciting offers to buy these notes, in any State where such offer or sale is not permitted.                                                    |

| Subject to Completion    
 Preliminary Term Sheet   
 Dated September 18, 2025 | Filed Pursuant to Rule 424(b)(2)                                                       
 Registration Statement No. 333-283969                                                  
 (To Prospectus dated February 26, 2025and Product Supplement EQUITY LIRN-1 dated March 
 3, 2025)                                                                               |

|                                                                                                                      | Units$10 principal amount per unitCUSIP No.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |     | Pricing Date*Settlement Date*Maturity Date* | September   , 2025October   , 2025September   , 2027 |
| *Subject to change based on the actual date the notes are priced for initial sale to the public (the “pricing date”) |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     |                                             |                                                      |
|                                                                                                                      | Capped Leveraged Index Return Notes®Linked to the Invesco S&P 500®Equal Weight ETF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 ◾Maturity of approximately 2 years◾125-to-1 leveraged upside exposure to increases in the Underlying Fund, subject to a capped return of [14.50% to 18.50%]◾If the Underlying Fund declines, but not by more than 5.00%,a return of principal◾1-to-1 downside exposure to decreases in the Underlying Fund beyond a 5.00% decline, with up to 95.00% of your principal at risk◾All payments occur at maturity and are subject to the credit risk of The Toronto-Dominion Bank◾No periodic interest payments◾In addition to the underwriting discount set forth below, the notes include a hedging-related charge of $0.05 per unit. See “Structuring the Notes”◾Limited secondary market liquidity, with no exchange listing◾The notes are unsecured debt securities and are not savings accounts or insured deposits of TD. The notes are not insured or guaranteed by the Canada Deposit Insurance Corporation (the “CDIC”), the U.S. 
 Federal Deposit Insurance Corporation (the “FDIC”), or any