Company: TDBCP
Filing Date: 2025-10-20
Form Type: 424B2
Source: 0001140361-25-038590
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-20
Form: 424B2
Chunk 5
---
 into account any tax consequences from investing in the notes. These examples are based on:

| (1) | a Starting Value of 100.00; |

| (2) | a Threshold Value of 100.00; |

| (3) | a Call Level of 100.00; |

| (4) | an expected term of the notes of approximately three years, if the notes are not called on either of the first two Observation Dates; |

| (5) | a Call Premium of 10.99% of the principal amount if the notes are called on the first Observation Date, 21.98% if called on the second Observation Date and 32.97% if called on the final Observation Date ; and |

| (6) | Observation Dates occurring approximately one, two and three years after the pricing date. |

The hypotheticalStarting Value of 100.00 used in these examples has been chosen for illustrative purposes only. The actual Starting Value of the Index is 1,436.04, which was the closing level of the Index on the pricing date. For recent actual levels of the Index, see “The Index” section below. The Index is a price return index and as such the level of the Index will not include any income generated by dividends or other distributions paid on the stocks included in the Index, which you would otherwise be entitled to receive if you invested in those stocks directly. In addition, all payments on the notes are subject to issuer credit risk. If TD, as issuer, becomes unable to meet its obligations as they become due, you could lose some or all of your investment. Notes Are Called on an Observation Date The notes will be called at $10.00 plus the applicable Call Premium if the Observation Level on one of the Observation Dates is equal to or greater than the Call Level. Example1 - The Observation Level on the first Observation Date is 150.00. Therefore, the notes will be called at $10.00 plus the Call Premium of $1.099 = $11.099 per unit. Example2 - The Observation Level on the first Observation Date is below the Call Level, but the Observation Level on the second Observation Date is 120.00. Therefore, the notes will be called at $10.00 plus the Call Premium of $2.198 = $12.198 per unit. Example3 - The Observation Levels on the first two Observation Dates are below the Call Level, but the Observation Level on the third and final Observation Date is 130