Company: TDBCP
Filing Date: 2025-11-19
Form Type: 424B2
Source: 0001140361-25-042690
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-19
Form: 424B2
Chunk 7
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0 ®Index and S&P 500 ®Index Reflects Price Return, not Total Return. The return on the Notes is based on the performance of the Nasdaq-100 ®Technology Sector Index SM, Russell 2000 ®Index and S&P 500 ®Index, which reflects the changes in the market prices of its Reference Asset Constituents. The Nasdaq-100 ®Technology Sector Index SM, Russell 2000 ®Index and S&P 500 ®Index is not a “total return” index or strategy, which, in addition to reflecting those price returns, would also reflect dividends paid on its Reference Asset Constituents. The return on the Notes will not include such a total return feature or dividend component. The Notes are Subject to Risks Associated with the Technology Sector. The Notes are subject to risks associated with the technology sector because the Nasdaq-100 ®Technology Sector Index SMis comprised of the stocks of companies in the technology sector. All or substantially all of the Reference Asset Constituents included in the Nasdaq-100 ®Technology Sector Index SMare issued by companies whose primary line of business is directly associated with the technology sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a major effect on the value of the index’s investments. The value of stocks of technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from non-U.S. competitors with lower production costs. Stocks of technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies,

| TD SECURITIES (USA) LLC | P-7 |

tend to be more volatile than the overall market. Technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability. Additionally, companies in the technology sector may face dramatic and often unpredictable changes in growth rates and competition for the services of qualified personnel. The Notes are Subject to Risks Associated with Small-Capitalization Companies. The Notes are subject to risks associated with small-capitalization companies because the Reference Asset Constituents of the Russell 2000 ®Index are considered small-capitalization companies. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization companies and therefore such index may be more volatile than an index in which a greater percentage of its constituents are issued by large-capitalization companies. Stock prices of