Company: TDBCP
Filing Date: 2025-11-20
Form Type: 424B2
Source: 0001140361-25-042863
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-20
Form: 424B2
Chunk 0
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| Pricing Supplement dated November 18, 2025 to the    
 Product Supplement MLN-EI-1 dated February 26, 2025, 
 Underlier Supplement dated February 26, 2025 and     
 Prospectus Dated February 26, 2025                   | Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

| The Toronto-Dominion Bank                         
 $11,800,000                                       
 Dual Directional Capped Buffer Notes              
 Linked to the S&P 500®Index Due November 23, 2027 
 Senior Debt Securities, Series H                  |

General

| • | The Notes are designed for investors who (i) seek unleveraged exposure to a limited range of the percentage increase of the S&P 500®Index (the“Reference                                                                                         
 Asset”) from the Initial Level (as defined below) to the Closing Level of the Reference Asset on the Valuation Date (the “Final Level”), (ii) seek unleveraged inverse exposure to a limited range of the percentage decline in the level of the 
 Reference Asset, but only if the Final Level is greater than or equal to the Buffer Level, (iii) are willing to accept the risk of losing some or all of their Principal Amount and (iv) are willing to forgo interest and dividend payments.    |

| • | If the Final Level is less than the Initial Level by more than 25.00%, investors will lose approximately 1.3333% of the Principal Amount of the Notes for each 1% decrease from the Initial Level to the Final Level 
 of more than 25.00% and may lose some or all of the Principal Amount.                                                                                                                                                |

| • | Any payments on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                     | The Toronto-Dominion Bank (“TD”)                                                                                                                                                              |
| Reference Asset:            | The S&P 500®Index (Bloomberg ticker: “SPX”)                                                                                                                                                   |
| Principal Amount:           | $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $1,000 in excess thereof.                                                                               |
| Term:                       | Approximately 2 years.                                                                                                                                                                        |
| Pricing Date:               | November 18, 2025                                                                                                                                                                             |
| Issue Date:                 | November 21, 2025, which is the third DTC settlement day following the