Company: TDBCP
Filing Date: 2025-07-29
Form Type: 424B2
Source: 0001140361-25-027841
Chunk: 27

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-29
Form: 424B2
Chunk 27
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 or share dividend. P-20 If the Reference Asset is subject to a share split or receives a share dividend, then the Calculation Agent will adjust the Initial Price, Threshold Price and/or any other relevant term, as applicable, by dividing the prior Initial Price, Threshold Price and/or any other relevant term, as applicable, before the share split or share dividend — by the number equal to: (1) the number of shares of the Reference Asset outstanding immediately after the share split or share dividend becomes effective; divided by (2) the number of shares of the Reference Asset outstanding immediately before the share split or share dividend becomes effective. The Initial Price, Threshold Price and/or any other relevant term, as applicable, will not be adjusted, however, unless:

| • | in the case of a share split, the first day on which the Reference Asset trades without the right to receive the share split occurs after the Pricing Date and on or before the Valuation Date; 
 or                                                                                                                                                                                              |

| • | in the case of a share dividend, the ex-dividend date occurs after the Pricing Date and on or before the Valuation Date. |

The ex-dividend date for any dividend or other distribution with respect to the Reference Asset is the first day on which the Reference Asset trades without the right to receive that dividend or other distribution. Reverse Share Splits A reverse share split is a decrease in the number of a corporation’s outstanding shares without any change in its shareholders’ equity. Each outstanding share will be worth more as a result of a reverse share split. If the Reference Asset is subject to a reverse share split, then the Calculation Agent will adjust the Initial Price, Threshold Price and/or any other relevant term, as applicable, by multiplying the prior Initial Price, Threshold Price and/or any other relevant term, as applicable, of the Reference Asset by a number equal to: (1) the number of shares of the Reference Asset outstanding immediately before the reverse share split becomes effective; divided by (2) the number of shares of the Reference Asset outstanding immediately after the reverse share split becomes effective. The Initial Price, Threshold Price and/or any other relevant term, as applicable, will not be adjusted, however, unless the reverse share split becomes effective after the Pricing Date and on or before the Valuation Date. Extraordinary Dividends A distribution or dividend on the Reference Asset will be deemed to be an extraordinary dividend if the Calculation Agent determines that its per share value exceeds that of the immediately preceding non-extraordinary dividend, if any, by an amount equal to