Company: TDBCP
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0001140361-25-022090
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-10
Form: 424B2
Chunk 6
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 Underlying Fund and/or the commodity held by the Underlying Fund may be adversely affected, sometimes materially.                                                             |

| ◾ | If the liquidity of the commodity held by the Underlying Fund is limited, the value of the Underlying Fund and, therefore, the return on the notes would likely be impaired. |

| ◾ | Suspension or disruptions of market trading in the commodity held by the Underlying Fund may adversely affect the value of your notes. |

| ◾ | The notes will not be regulated by the U.S. Commodity Futures Trading Commission. |

| ◾ | The Redemption Amount will not be adjusted for all corporate events that could affect the Underlying Fund. See “Description of ARNs—Anti-Dilution and Discontinuance Adjustments Relating to Underlying Funds” beginning on page PS-28 of 
 product supplement EQUITY ARN-1.                                                                                                                                                                                                          |

Valuation- and Market-Related Risks

| ◾ | The initial estimated value of your notes on the pricing date will be less than their public offering price. The difference between the public offering price of your notes and the initial estimated value of the notes reflects costs and   
 expected profits associated with selling and structuring the notes, as well as hedging our obligations under the notes (including, but not limited to, the hedging related charge, as further described under “Structuring the Notes” on page 
 TS-13). Because hedging our obligations entails risks and may be influenced by market forces beyond our control, this hedging may result in a profit that is more or less than expected, or a loss and the amount of any such profit or loss  
 will not be known until the maturity date.                                                                                                                                                                                                    |

| ◾ | The initial estimated value of your notes is based on our internal funding rate. The internal funding rate used in the determination of the initial estimated value of the notes generally represents a discount from the credit spreads for     
 our conventional fixed-rate debt securities and the borrowing rate we would pay for our conventional fixed-rate debt securities. This discount is based on, among other things, our view of the funding value of the notes as well as the higher 
 issuance, operational and ongoing liability management costs of the notes in comparison to those costs for our conventional fixed-rate debt, as well as estimated financing costs of any hedge positions (including, but not limited to, the     
 hedging related charge, as further described under “Structuring the Notes” on page TS-13), taking into account regulatory and internal