Company: TDBCP
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001140361-25-007568
Chunk: 25

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-07
Form: 424B3
Chunk 25
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 | If the Ending Value is less than the Threshold Value, then the Redemption Amount will equal: |

<div align='center'>PS-21</div>

The Redemption Amount will not be less than zero.

The “

#### Threshold Value
**” will be a value of the Market Measure that equals a specified percentage of the Starting Value, which
    will be less than or equal to 100%. The Threshold Value will be determined on the pricing date and set forth in the applicable term sheet. If the Threshold Value is equal to 100% of the Starting Value, then the Redemption Amount for the notes will be
    less than the principal amount if the notes are not called and there is any decrease in the value of the Market Measure from the Starting Value to the Ending Value, and you may lose all of your investment in the notes.

Each applicable term sheet will provide examples of payments on the notes based on certain hypothetical Observation Levels and Ending Values.

The applicable term sheet will set forth information as to the specific Market Measure, including information as to the historical prices of the Underlying Stock.
    However, historical prices of any Underlying Stock are not indicative of its future performance or the performance of your notes.

An investment in the notes does not entitle you to any ownership interest in or any other rights with respect to any Underlying Stock, including any voting rights,
    dividends paid or other distributions made by any Underlying Company.

The Starting Value, the Observation Level and the Ending Value**

#### Starting Value
Unless otherwise specified in the applicable term sheet, the “

#### Starting Value
” will be the Closing Market Price of the
    Underlying Stock on the pricing date.

If the Market Measure consists of a Basket, the Starting Value will be equal to 100. See “— Basket Market Measures” below.

#### Observation Level
Unless otherwise specified in the applicable term sheet, the “

#### Observation Level
” will be the Closing Market Price of the
    Underlying Stock on the applicable Observation Date multiplied by its Price Multiplier on that day.

If the Market Measure consists of a Basket, the Observation Level of the Basket will be determined in “Description of the Notes — Basket Market Measure —
    Observation Level and Ending Value of the Basket.”

#### Ending Value
The “

#### Ending Value
” will be the Observation Level on the final Observation Date.

If the Market Measure consists of a Basket, the Ending Value of the Basket will be determined as described in “— Basket Market Measures — Ending Value of the Basket