Company: TDBCP
Filing Date: 2025-04-17
Form Type: 424B2
Source: 0001140361-25-014356
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-04-17
Form: 424B2
Chunk 12
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 political conditions, foreign currency fluctuations, changes in foreign regulations, tariffs and trade disputes, competition from subsidized foreign competitors with lower production costs and other risks inherent to international business. The semiconductor production and equipment sector is highly cyclical, which may cause the operating results of many semiconductor companies to vary significantly. Companies in the semiconductor production and equipment sector also may be subject to competition from new market entrants. The stock prices of companies in the semiconductor production and equipment sector have been and will likely continue to be extremely volatile. These factors can interact in complex and unpredictable ways that affect the semiconductor production and equipment sector. Adverse developments in the semiconductor and equipment sector could adversely affect the value of the equity securities held by the Underlying Fund and the price of the Underlying Fund during the term of the notes, which may in turn adversely affect the value of your notes. A limited number of securities may affect the price of the Underlying Fund, and the Underlying Index is not necessarily representative of the semiconductor production and equipment sector. As of April 15, 2025, there were 25 securities held by the Underlying Fund. As of that date, the top three securities held by the Fund constituted 40.66% of the Underlying Fund’s holdings, and the top six securities held by the Underlying Fund constituted 55.64% of its holdings. Any reduction in the market price of those securities is likely to have a substantial adverse impact on the price of the Underlying Fund and the value of the notes. While the securities included in the Underlying Index are equity securities of companies generally considered to be involved in thesemiconductor production and equipment sector , the securities included in the Underlying Index may not follow the price movements of the entiresemiconductor production and equipment sector generally. If the securities included in the Underlying Index (and, accordingly, the securities held by the Underlying Fund) decline in value, the Underlying Fund will decline in value even if security prices in thesemiconductor production and equipment sector generally increase in value.

| Accelerated Return Notes® | TS-8 |

The Underlying Fund All disclosures contained in this term sheet regarding the Underlying Fund, including, without limitation, its make-up, method of calculation, and changes in its components, have been derived from publicly available sources. The information reflects the policies of, and is subject to change by, Van Eck Associates Corporation, the advisor to the Underlying Fund (the “sponsor” or “Van Eck”). The sponsor has no obligation to continue to publish, and