Company: TDBCP
Filing Date: 2025-12-03
Form Type: 424B2
Source: 0001140361-25-044158
Chunk: 18

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-03
Form: 424B2
Chunk 18
---
 levels. The levels of the underlying indices will be influenced by complex and interrelated political, economic, financial and other factors that affect the index constituent stock issuers. You should be willing to 
 accept the risks associated with the relevant markets tracked by each underlying index in general and each index’s index constituent stocks in particular, and the risk of losing a significant portion or all of your investment in the        
 securities.                                                                                                                                                                                                                                     |

| ◾ | The securities are subject to mid-capitalization stock risks.The securities are linked to the S&P MidCap 400®Index, which is comprised of index constituent stocks issued by                                                                   
 mid-capitalization companies and, therefore, are subject to risks associated with mid-capitalization companies. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization   
 companies and therefore the underlying index may be more volatile than an index of which a greater percentage of its index constituent stocks are issued by large-capitalization companies. Stock prices of mid-capitalization companies are   
 also more vulnerable than those of large-capitalization companies to adverse business and economic developments, and the stocks of mid-capitalization companies may be thinly traded. In addition, mid-capitalization companies are typically  
 less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Mid-capitalization companies are often given less analyst coverage and may be 
 in early, and less predictable, periods of their corporate existences. Such companies tend to have smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less        
 competitive strengths than large-capitalization companies and are more susceptible to adverse developments related to their products.                                                                                                          |

| ◾ | The underlying indices reflect price return, not total return.The return on your securities is based on the performance of the underlying indices, which reflect the changes in the market prices of                                            
 the index constituent stocks. It is not, however, linked to a “total return” index or strategy, which, in addition to reflecting those price returns, would also reflect any dividends paid on the index constituent stocks. The return on your 
 securities will not include such a total return feature or dividend component.                                                                                                                                                                  |

| ◾ | Changes affecting the underlying indices could have an adverse effect on the market value of, and any amount payable on, the securities. The policies of each index sponsor as specified under                                                
 “Information About the Underlying Indices” (together, the “index sponsors”), concerning