Company: TDBCP
Filing Date: 2025-10-31
Form Type: 424B2
Source: 0001140361-25-039953
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-31
Form: 424B2
Chunk 5
---
 Notes for every 1% that the Final Price of the Least Performing Reference Asset is less than its Initial Price in excess of the Buffer Amount and you could lose up to 85.00% of the Principal Amount of the Notes. The Notes Do Not Pay Interest and Your Return on the Notes May Be Less Than the Return on Conventional Debt Securities of Comparable Maturity. There will be no periodic interest payments on the Notes as there would be on a conventional fixed-rate or floating-rate debt security having the same term. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. Even if your return is positive, your return may be less than the return you would earn if you bought a conventional senior interest bearing debt security of TD. The Payment at Maturity Will Be Based Solely on the Least Performing Reference Asset The Payment at Maturity will be based on the Least Performing Reference Asset without regard to the performance of the other Reference Asset. As a result, you will lose a portion of your initial investment if the Final Price of the Least Performing Reference Asset is less than its Buffer Price, even if there is an increase in the price of the other Reference Asset. This could be the case even if the other Reference Asset increased by an amount greater than the decrease in the Least Performing Reference Asset. The Payment at Maturity Is Not Linked to the Prices of the Reference Assets at Any Time Other Than on the Valuation Date. The Final Price of each Reference Asset will be its Closing Price on the Valuation Date (subject to adjustment as described elsewhere in this pricing supplement). Therefore, if the Closing Price of a Reference Asset dropped to less than its Buffer Price on the Valuation Date, you would not receive any positive return and the Payment at Maturity for your Notes would be significantly less than it would have been had the Payment at Maturity been linked to its Closing Price prior to such drop. Although the actual prices of the Reference Assets on the Maturity Date or at other times during the term of your Notes may be higher than the Final Prices of the Reference Assets, you will not benefit from the Closing Price of the Reference Assets at any time other than on the Valuation Date. Because the Notes are Linked to the Least Performing Reference Asset, You are Exposed to a Greater Risk of Losing a Substantial Portion of the Principal Amount of your Notes at Maturity Than if the Notes Were Linked to a Single Reference Asset. The risk that you will not receive any positive return