Company: TDBCP
Filing Date: 2025-01-24
Form Type: 424B2
Source: 0001140361-25-001877
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-24
Form: 424B2
Chunk 0
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The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion. Dated January 23, 2025.

| Pricing Supplement dated , 2025 to the              
 Product Supplement MLN-EI-1 dated March 4, 2022 and 
 Prospectus Dated March 4, 2022                      | Filed Pursuant to Rule   
 424(b)(2)                
 Registration             
 Statement No. 333-262557 |

General

| • | The Notes are designed for investors who (i) seek leveraged exposure to any percentage increase of the Dow Jones Industrial Average®(the“Reference Asset”) from                                                                            
 the Initial Level (as defined below) to the arithmetic average of the Closing Level of the Reference Asset on each Averaging Date (the “Final Level”), (ii) are willing to accept the risk of losing a significant portion or all of their 
 Principal Amount and (iii) are willing to forgo interest and dividend payments.                                                                                                                                                            |

| • | Investors will receive their Principal Amount at maturity if the Final Level is equal to or less than the Initial Level by up to 20.00%. If the Final Level is less than the Barrier Level, investors will lose 1% of 
 the Principal Amount of the Notes for each 1% that the Final Level is less than the Initial Level, and may lose a significant portion or all of the Principal Amount.                                                 |

| • | Any payments on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                 |                                                                                                                                                The Toronto-Dominion Bank (“TD”) |
| Reference Asset:        |                                                                                                                     The Dow Jones Industrial Average®(Bloomberg ticker: “INDU”) |
| Principal Amount:       |                                                                 $1,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $1,000 in excess thereof. |
| Term:                   |  Approximately 32 months. In the event that we make any change to the expected Pricing Date and Issue Date, the Calculation Agent may adjust each Averaging Date (including the 
                                                                      Final Averaging Date) and the Maturity Date, to ensure that the stated term of the Notes remains the same. |
| Pricing Date:           |                                                                                                                                                 Expected to be January 24,