Company: TDBCP
Filing Date: 2025-10-06
Form Type: 424B2
Source: 0001140361-25-037346
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-06
Form: 424B2
Chunk 5
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 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 Notes May Be Automatically Called Prior to the Maturity Date And Are Subject to Reinvestment Risk. If your Notes are automatically called, your return on the Notes will be limited to the Call Return, you will not participate in any appreciation of the Least Performing Reference Asset from its Initial Value to its Final Value and no further payments will be owed to you under the Notes after the Call Payment Date. Because the Call Threshold Value of each Reference Asset is less than its Initial Value, the Notes will be subject to an automatic call unless the Closing Value of at least one Reference Asset declines to less than its Call Threshold Value on the Call Observation Date. Therefore, because the Notes could be called as early as the Call Payment Date, the holding period could be limited. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in the event the Notes are automatically called prior to the Maturity Date. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. The Amount Payable on the Notes is Not Linked to the Value of the Reference Assets at Any Time Other Than on the Call Observation Date and, if Not Automatically Called, the Final Valuation Date. Any payment on the Notes will be based on the Closing Value of the Reference Assets only on the Call Observation Date and, if the Notes are not automatically called, the Final Valuation Date. Even if the market value of each Reference Asset increases prior to the Call Observation Date but a Reference Asset then drops on that day to a Closing Value that is less than its Call Threshold Value, you will not receive the Call Price on the Call Payment Date. Similarly, the Payment at Maturity, if any, may be significantly less than if the Notes were linked to the Closing Value of the Least Performing Reference Asset on a date other than the Final Valuation Date. Although the actual values of the Reference Assets at other times during the term of the Notes may be higher than the values on the Call Observation Date or the Final Valuation Date, any payment of the Call Return or the Payment at Maturity will be based solely on the Closing Value of the