Company: TDBCP
Filing Date: 2025-10-31
Form Type: 424B2
Source: 0001140361-25-039998
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-31
Form: 424B2
Chunk 12
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 loss on your securities. Because there is more than one underlying index, it is more likely that you will (a) not receive    
 any contingent quarterly coupons and/or (b) receive an amount in cash that is worth less than your stated principal amount on the maturity date than would have been the case had the securities been linked to only one underlying index.       |

| ■ | Greater expected volatility with respect to, and lower expected correlation of, the underlying indices generally reflects a higher contingent quarterly coupon and a higher expectation as of the pricing                                       
 date that the index closing value of any of the underlying indices could be less than its downside threshold level.Greater expected volatility with respect to, and lower expected correlation of, the underlying indices reflects a            
 higher expectation as of the pricing date that the final index value of any of the underlying indices could be less than its downside threshold level and/or that the index closing value of any underlying index on any trading day during a   
 quarterly observation period will be less than its coupon threshold level. “Volatility” refers to the frequency and magnitude of changes in the level of an asset or group of assets. This greater expected risk will generally be reflected in 
 a higher contingent quarterly coupon for that security than would have been the case if expected volatility of the underlying indices been lower. However, while the contingent quarterly coupon is set on the pricing date based, in part, on  
 the correlations of the underlying indices and each underlying index’s volatility calculated using our internal models, an underlying index’s volatility, and the correlation of the underlying indices, can change significantly over the term 
 of the securities. The level of any underlying index could fall sharply, which could result in the loss of a significant portion or all of your investment in the securities.                                                                   |

| ■ | The securities are subject to reinvestment risk in the event of an early redemption.The securities will be automatically redeemed prior to maturity if the index closing values of all of the                                                  
 underlying indices on any observation period end-date other than the first observation period end-date and the final observation period end-date are greater than or equal to their call threshold levels and you will not receive any more    
 contingent quarterly coupons after the related contingent coupon payment date. Conversely, the securities will not be automatically redeemed when the index closing value of any one of the underlying indices on any applicable observation   
 period end-date is less than its call threshold level, which generally coincides with a greater risk of principal loss on your securities. The securities could be redeemed as early as the second contingent coupon payment date