Company: TDBCP
Filing Date: 2025-07-21
Form Type: 424B2
Source: 0001140361-25-026610
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-21
Form: 424B2
Chunk 18
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|                     | Total Payment:                                             |                       $4,000.00 (60.00% loss) |

* Represents the cash value of the Physical Delivery Amount on the Final Review Date. Because the Notes are physically settled, the actual value received and the total return on the Notes on the Maturity Date depends on the price of the Reference Asset on the Maturity Date. Because the Closing Price of the Reference Asset on each Review Date prior to the Final Review Date is less than the Buffer Price, we will not pay the Contingent Interest Payment on any of the corresponding Contingent Interest Payment Dates and the Notes will not be automatically called. Because the Final Price is less than the Buffer Price on the Final Review Date, on the Maturity Date we will deliver a number of shares of the Reference Asset equal to the Physical Delivery Amount, for a total of $4,000.00*, a loss of 60.00% per Note. The actual value of the shares received on the Maturity Date, and the total return on the Notes at that time, depends on the price of the Reference Asset on the Maturity Date. You should note that if the Notes are not automatically called and the Final Price is less than the Buffer Price, because we will deliver the Physical Delivery Amount of the Reference Asset instead of paying an amount in cash at maturity, the actual value of the Physical Delivery Amount you receive will be determined on the Maturity Date and such value may be less than the payment that you would have received at maturity had we instead paid an amount in cash, as a result of any decrease in the price of the Reference Asset during the period between the Final Review Date and the Maturity Date. For the avoidance of doubt, the value of the Physical Delivery Amount as of the Maturity Date may be worth less than the value of the Physical Delivery Amount calculated using the Final Price due to declines in the price of the Reference Asset from the Final Review Date to the Maturity Date.

| TD SECURITIES (USA) LLC | P-10 |

The following table illustrates the hypothetical payments and/ or deliveries per Note that may be realized at maturity for a range of hypothetical Final Prices of the Reference Asset, based on the hypothetical terms set forth above. The table assumes that the Notes have not been automatically called and does not reflect any Contingent Interest Payment that may be payable prior to the Maturity Date or any previously unpaid Contingent Interest Payments otherwise due on the Maturity Date pursuant to the Memory Interest Feature. The hypothetical returns