Company: TDBCP
Filing Date: 2025-06-17
Form Type: 424B3
Source: 0001140361-25-022771
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-17
Form: 424B3
Chunk 18
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 secondary market may be limited. There is no assurance that any party will be willing to purchase your SUNs at any price in any secondary market. We anticipate that one or more of the agents or their affiliates will act as a market-maker for the SUNs, but none of them are required to do so and may cease to do so at any time. Any price at which an agent or its affiliates may bid for, offer, purchase, or sell any of the SUNs may be higher or lower than the applicable public offering price, and that price may differ from the values determined by pricing models that it may use, whether as a result of dealer discounts, mark-ups, or other transaction costs. These bids, offers, or transactions may adversely affect the prices, if any, at which those SUNs might otherwise trade in the market. In addition, if at any time any entity were to cease acting as a market-maker for any issue of the SUNs, it is likely that there would be significantly less liquidity in that secondary market. In such case, the price at which those SUNs could be sold likely would be lower than if an active market existed.

Unless otherwise stated in the applicable term sheet, we will not list the SUNs on any securities exchange or quotation system. Even if an application were made to list your SUNs, we cannot assure you that the application will be approved or that your SUNs will be listed and, if listed, that they will remain listed for their entire term. The listing of the SUNs on any securities exchange or quotation system will not necessarily ensure that a trading market will develop or, if a trading market does develop, that there will be liquidity in the trading market. The SUNs are not designed to be short-term trading instruments, and if you attempt to sell your SUNs prior to maturity, their market value, if any, will be affected by various factors that interrelate in complex ways and may be less than the principal amount.The SUNs are not designed to be short-term trading instruments. The limited protection against the risk of losses provided by the Threshold Value, if any, will only apply if you hold your SUNs to maturity. You have no right to have the SUNs redeemed at your option prior to maturity or an automatic call. If you wish to liquidate your investment in your SUNs prior to maturity or an automatic call, your only option would be to sell them. At that time, there may be an illiquid market for your SUNs or no market at all. Even