Company: TDBCP
Filing Date: 2025-08-20
Form Type: 424B2
Source: 0001140361-25-032043
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-20
Form: 424B2
Chunk 7
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 your initial investment in the Notes is greater if you invest in the Notes than the risk of investing in substantially similar securities that are linked to the performance of only one Reference Asset. With more Reference Assets, it is more likely that the Closing Price or Final Price of any Reference Asset will be less than its Call Threshold Price on the Call Valuation Date and less than its Threshold Price on the Final Valuation Date than if the Notes were linked to a single Reference Asset. In addition, a lower correlation between the performance of a pair of Reference Assets results in a greater likelihood that a Reference Asset will decline to a Closing Price that is less than its Call Threshold Price on the Call Valuation Date or to a Final Price that is less than its Threshold Price on the Final Valuation Date. Although the correlation of the Reference Assets’ performance may change over the term of the Notes, the economic terms of the Notes, including the Call Premium Percentage, Leverage Factor and Threshold Prices, are determined, in part, based on the correlation of the Reference Assets’ performance calculated using our internal models at the time the terms of the Notes are finalized. All things being equal, a higher Call Premium Percentage and Leverage Factor and lower Threshold Prices are generally associated with lower correlation of the Reference Assets. Therefore, if the performance of a pair of Reference Assets is not correlated to each other or is negatively correlated, the risk that the Final Price of any Reference Asset will be less than its Threshold Price is even greater despite lower Threshold Prices. Therefore, it is more likely that you will lose all or a substantial portion of the Principal Amount of your Notes at maturity. If You Purchase Your Notes at a Premium to Principal Amount, the Return on Your Investment Will Be Less Than the Return on Notes Purchased at Principal Amount and the Impact of Certain Key Terms of the Notes Will be Negatively Affected. Any payment on the Call Payment Date or the Payment at Maturity will not be adjusted based on the public offering price you pay for the Notes. If you purchase Notes at a price that differs from the Principal Amount of the Notes, then the return on your investment in such Notes held to the Call Payment Date or the Maturity Date will differ from, and may be substantially less than, the return on Notes purchased at Principal Amount. If you purchase your Notes at a premium to Principal Amount, if the Notes are not automatically called and the Final Price of any Reference Asset is less than its Threshold Price, you will incur a greater percentage decrease in your investment in the Notes than would have been the