Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001140361-25-006127
Chunk: 38

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B3
Chunk 38
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 is determined (generally the Valuation Date), even though you will not receive any amounts from the Bank in respect of your notes prior to the Maturity Date of your notes. In this case, you may be treated as having a holding period in respect of your notes ending prior to the Maturity Date for your notes, and such holding period may be treated as less than one year even if you receive cash on the Maturity Date of your notes at a time that is more than one year after the beginning of your holding period. Except to the extent otherwise required by law, the Bank intends to treat your notes for U.S. federal income tax purposes in accordance with the treatment described above unless and until such time as the Treasury and the IRS determine that some other treatment is more appropriate. PS-31 Section 1260 If a note references a Reference Asset Constituent that is treated as equity in a RIC such as certain exchange-traded funds, a REIT, a “passive foreign investment company” (a “PFIC”), a partnership, or other “pass-thru entity” for purposes of Section 1260 of the Code, it is possible that the “constructive ownership transaction” rules of Section 1260 of the Code may apply, in which case the tax consequences of a taxable disposition of the notes could be affected materially and adversely. Under the “constructive ownership” rules, if an investment in the notes is treated as a “constructive ownership transaction”, any long-term capital gain recognized by a U.S. holder in respect of such notes will be recharacterized as ordinary income to the extent such gain exceeds the amount of “net underlying long-term capital gain” (as defined in Section 1260 of the Code) of the U.S. holder (the “Excess Gain”). In addition, an interest charge would also apply to any deemed underpayment of tax in respect of any Excess Gain to the extent such gain would have resulted in gross income inclusion for the U.S. holder in taxable years prior to the taxable year of the taxable disposition of the note (assuming such income accrued such that the amount in each successive year is equal to the income in the prior year increased at a constant rate equal to the applicable federal rate as of the date of such taxable disposition). Because the application of the constructive ownership rules to the notes is unclear, you are urged to consult your tax advisors regarding the potential application of the “constructive ownership” rules to an investment in the notes. Possible Change in Law In 200