Company: TDBCP
Filing Date: 2025-08-26
Form Type: 424B2
Source: 0001140361-25-032661
Chunk: 8

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-26
Form: 424B2
Chunk 8
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 you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. The Return on Your Notes May Change Significantly Despite Only a Small Change in the Price of the Reference Asset. If your Notes are not automatically called and the Final Price is less than the Principal Barrier Price, you will receive less than the Principal Amount of your Notes and you could lose all or a substantial portion of your investment in the Notes. This means that while a decrease in the Final Price to the Principal Barrier Price will not result in a loss of the Principal Amount on the Notes, a decrease in the Final Price to less than the Principal Barrier Price will result in a loss of a significant portion of the Principal Amount of the Notes despite only a small change in the price of the Reference Asset.

| TD SECURITIES (USA) LLC | P-7 |

The Amounts Payable on the Notes Are Not Linked to the Price of the Reference Asset at Any Time Other Than on the Contingent Coupon Observation Dates (Including the Final Valuation Date) and Call Observation Dates. Any payments on the Notes will be based on the Closing Price of the Reference Asset only on the Contingent Coupon Observation Dates (including the Final Valuation Date) and Call Observation Dates. Even if the value of the Reference Asset appreciates prior to a Contingent Coupon Observation Date but then drops on that day to a Closing Price that is less than the Contingent Coupon Barrier Price, you will not receive any Contingent Coupon Payment with respect to such Contingent Coupon Payment Date. Similarly, the Payment at Maturity may be significantly less than it would have been had the Notes been linked to the Closing Price of the Reference Asset on a date other than the Final Valuation Date, and may be zero. Although the actual price of the Reference Asset at other times during the term of the Notes may be higher than the price on one or more Contingent Coupon Payment Dates (including the Final Valuation Date) or Call Observation Dates, any Contingent Coupon Payments on the Notes and the return on the Notes will be based solely on the Closing Price of the Reference Asset on the applicable Contingent Coupon Payment Dates (including the Final Valuation Date) and Call Observation Dates. The Contingent Coupon Will Reflect, in Part, the Volatility of the Reference Asset and May Not Be Sufficient to Compensate You for the