Company: TDBCP
Filing Date: 2025-03-04
Form Type: 424B3
Source: 0001140361-25-006811
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-04
Form: 424B3
Chunk 18
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 is often called a time “value,”                                                                   
 “premium,” or “discount,” and reflects expectations concerning the value of the Market Measure prior to the maturity date. As the time to maturity decreases, this disparity will likely decrease, such that the market value of ARNs will 
 approach the expected Redemption Amount to be paid at maturity.                                                                                                                                                                            |

Conflict-Related Risks Trading and hedging activities by us, the agents, and our or their respective affiliates may affect the market value of, and any amount payable on, ARNs.We, the agents, and our or their respective affiliates may buy or sell the Market Measure, any of its Underlying Constituents, futures, options contracts, or exchange-traded instruments on the Market Measure or any of its Underlying Constituents or other listed over-the-counter derivative instruments whose value is derived from the Market Measure or any of its Underlying Constituents. We, the agents, or our or their respective affiliates may execute such purchases or sales for our own or their own accounts, for business reasons, or in connection with hedging our obligations under ARNs. These transactions could affect the value of a Market Measure in a manner that could be adverse to your investment in ARNs. On or before the applicable pricing date, any purchases or sales by us, the agents, and our or their respective affiliates, or others on our or their behalf (including those for the purpose of hedging some or all of our anticipated exposure in connection with ARNs), may increase the value of the Market Measure or its Underlying Constituents. Consequently, the value of that Market Measure or the securities included in that Market Measure may decrease subsequent to the pricing date of an issue of ARNs, which may adversely affect the market value of, and any amount payable on, ARNs. We, the agents, or one or more of our or their respective affiliates expect to also engage in hedging activities that could increase the value of the Market Measure on the applicable pricing date. In addition, these activities, including the unwinding of a hedge, may decrease the market value of your ARNs prior to maturity, including during the Maturity Valuation Period, and may reduce the Redemption Amount. We, the agents, or one or more of our or their respective affiliates may purchase or otherwise acquire a long or short position in ARNs, and may hold or resell ARNs. For example, the agents or their affiliates may enter into these transactions in connection with any market making activities in which they engage. We