Company: TDBCP
Filing Date: 2025-11-20
Form Type: 424B2
Source: 0001140361-25-042871
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-20
Form: 424B2
Chunk 15
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 Republic of China (the “PRC”) military, intelligence and security apparatus. The prohibition also covers any securities that are derivative of, or are designed to provide investment exposure to, such securities. While the Reference Asset Issuer of TSM is not currently designated as such a company, there can be no assurance that such Reference Asset Issuer will not, in the future, become subject to the executive order, a similar bill, other executive action or other legal restrictions. Any such action could lead to the loss of a significant portion or all of your initial investment. In addition, under recent legislation, the SEC would be required to maintain a list of issuers for which the U.S. Public Company Accounting Oversight Board is not able to inspect or investigate an auditor report issued by a non U.S. public accounting firm, which would include many companies organized in, or with a parent company organized in, the PRC. While the proposal for implementation is still under consideration by the SEC, this bill will require increased disclosure requirements for such issuers that do not comply with guidelines that are ultimately established, including, potentially, the Reference Asset Issuer of TSM. The designation of such Reference Asset Issuer as subject to the foregoing could lead to the delisting of the Reference Asset. Additionally, following such a delisting the Calculation Agent would have the ability to select a substitute security and/or make any other determinations as discussed further under “General Terms of the Notes — Delisting of ADRs or Termination of, or Change in Law Event Affecting, an ADR Facility” in the product supplement. Each Call Observation Date, the Final Valuation Date and the Corresponding Interest Payment Dates are Subject to Market Disruption Events and Postponements. Each Call Observation Date, the Final Valuation Date and each Interest Payment Date (including the Maturity Date), is subject to postponement due to the occurrence of one or more market disruption events. For a description of what constitutes a market disruption event as well as the consequences of that market disruption event, see “General Terms of the Notes—Market Disruption Events” in the product supplement. A market disruption event for a particular Reference Asset will not constitute a market disruption event for any other Reference Asset. Trading and Business Activities by TD or Its Affiliates May Adversely Affect the Market Value of, and Any Payments or Deliveries on, the Notes. We, the Agent and/or our other affiliates may hedge our obligations under the Notes by purchasing securities, futures, options or other derivative instruments