Company: TDBCP
Filing Date: 2025-07-11
Form Type: 424B2
Source: 0001140361-25-025581
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-11
Form: 424B2
Chunk 6
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 actually paid on the Notes, the return on the Notes will be less thanthe return on a direct investment in the Reference Asset or in a security directly linked to the positive performance of the Reference Asset. Your Return May Be Less than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes, which could be negative, may be less than the return you could earn on other investments. The Notes do not provide for fixed coupon payments and you may not receive any Contingent Coupon Payments over the term of the Notes. Even if you do receive one or more Contingent Coupon Payments and your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date and Are Subject to Reinvestment Risk. If your Notes are automatically called, no further payments will be owed to you under the Notes after the applicable Call Payment Date. Therefore, because the Notes could be called as early as the first Call Observation Date, the holding period could be limited. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in the event the Notes are automatically called prior to the Maturity Date. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. The Return on Your Notes May Change Significantly Despite Only a Small Change in the Price of the Reference Asset. If your Notes are not automatically called and the Final Price is less than the Principal Barrier Price, you will receive less than the Principal Amount of your Notes and you could lose all or a substantial portion of your investment in the Notes. This means that while a decrease in the Final Price to the Principal Barrier Price will not result in a loss of the Principal Amount on the Notes, a decrease in the Final Price to less than the Principal Barrier Price will result in a loss of a significant portion of the Principal Amount of the Notes despite only a small change in the price of the Reference Asset.

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The Amounts Payable on the