Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001140361-25-006123
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B3
Chunk 5
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 the Reference Asset or its Reference Asset Constituents or Owning a Security Directly Linked to the Performance of the Reference Asset or its Reference Asset Constituents. The return on your notes will not reflect the return you would realize if you made a hypothetical direct investment in the Reference Asset or its Reference Asset Constituents or a security directly linked to the performance of the Reference Asset or its Reference Asset Constituents and held that investment for a similar period because, for example:

| • | your notes may be subject to a cap or Digital Coupon, in which case the Payment at Maturity will not exceed the maximum return set forth in the applicable pricing supplement; and |

| • | the equity index or indices to which your notes are linked may be calculated in part by reference to the prices of the applicable Reference Asset Constituents, without taking into consideration the value of any dividends paid on those 
 Reference Asset Constituents.                                                                                                                                                                                                              |

You Will Not Have Any Shareholder Rights and Will Have No Right to Receive Any Shares of Any Reference Asset Constituent at Maturity. Investing in your notes will not make you a holder of shares of any Reference Asset Constituent. Neither you nor any other holder or owner of the notes will have any voting rights, any right to receive dividends or other distributions or any other rights with respect to any of these securities. The Amount to Be Paid at Maturity, if Any, Will Not Be Affected by All Developments Relating to the Reference Asset. Changes in the level of the Reference Asset during the term of the notes before the relevant Valuation Date(s) will not be reflected in the calculation of the Payment at Maturity, unless the level of the Reference Asset trades or closes below (or, in the case of bearish notes, above) the Initial Level, Barrier Level or Buffer Level, as applicable. The Calculation Agent will calculate this amount by comparing only the Final Level to the Initial Level (or the Buffer Level, as applicable) and, in the case of notes that have a barrier, by comparing the trading level or closing level of the Reference Asset during the Monitoring Period or on the Valuation Date(s), as applicable, to the Barrier Level. No other levels of the Reference Asset will be taken into account. As a result, you may receive less than the Principal Amount of your notes, even if the level of the Reference Asset has increased (or, in the case of bearish notes, decreased) at certain times during the term of the notes before decreasing to a level below (