Company: TDBCP
Filing Date: 2025-10-21
Form Type: 424B2
Source: 0001140361-25-038801
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-21
Form: 424B2
Chunk 12
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Because the securities are physically settled and the price of the worst performing underlying stock will fluctuate between the final determination date and the maturity date, the actual value of the shares received and the total return on the securities at maturity will depend on the price of the worst performing underlying stock on the maturity date. If the exchange ratio of the worst performing underlying stock is less than 1, your payment at maturity for each security will be the cash value of the fractional share. We make no representation or warranty as to which of the underlying stocks will be the worst performing underlying stock for the purposes of calculating your actual payment at maturity. Investing in the securities involves significant risks. The securities differ from ordinary debt securities in that TD is not necessarily obligated to repay the full amount of your investment in the securities. If the securities are not redeemed prior to maturity and the final share price of any underlying stock is less than its downside threshold price, you will receive per security a number of shares of the worst performing underlying stock equal to the exchange ratio of the worst performing underlying stock (and the cash value of any fractional share). The value of such shares is expected to be worth significantly less than the stated principal amount and could be as low as zero, resulting in the loss of your entire investment in the securities. The securities will not pay a contingent quarterly coupon if the closing price of any underlying stock on any determination date is less than its coupon threshold price. If the closing price of any underlying stock on each of the determination dates is less than its downside threshold price, you will receive no contingent quarterly coupons during the term of, and will not receive a positive return on, the securities. The securities will not be automatically redeemed with respect to any determination date in respect of which an early redemption may occur unless the closing price of each underlying stock on the relevant determination date is greater than or equal to its respective call threshold price. You will be exposed to the market risk of each underlying stock on each determination date (including the final determination date) and any decline in the price of one underlying stock may negatively affect your return and will not be offset or mitigated by a lesser decline or any potential increase in the price of any other underlying stock. Any payments or deliveries to be made on the securities, including any repayment of principal, is dependent on TD’s ability to satisfy its obligations as they become due and, therefore, investors are subject to the credit risk of TD. If TD becomes unable to meet its financial obligations as they become due, investors may not receive any amounts due under the