Company: TDBCP
Filing Date: 2025-10-21
Form Type: 424B2
Source: 0001140361-25-038801
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-21
Form: 424B2
Chunk 15
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 price of each underlying stock on the relevant determination                                        
 date. As a result, you will not know whether you will receive the contingent quarterly coupon on any determination date until the related determination date. If you do not receive the contingent quarterly coupon on a contingent coupon     
 payment date, you will not know whether you will receive such contingent quarterly coupon on any subsequent contingent coupon payment date pursuant to the memory coupon feature until the later determination date corresponding to such      
 contingent coupon payment date. Moreover, if you do not receive the contingent quarterly coupon on a contingent coupon payment date and the closing price of any underlying stock is less than its coupon threshold price on each subsequent   
 determination date (including the final determination date), you will not receive any contingent quarterly coupon with respect to such determination date, even if the closing price of each underlying stock was greater than or equal to its 
 coupon threshold price on other days during the term of the securities, and even if the closing price(s) of one or both of the other underlying stocks are at or above their respective coupon threshold prices.                               |

| ◾ | Your potential return on the securities is limited, you will not participate in any appreciation of the underlying stocks and you will not realize a return beyond the returns represented by the contingent                                 
 quarterly coupons received, if any, during the term of the securities.The return potential of the securities is limited to the contingent quarterly coupons, regardless of the appreciation of the underlying stocks. In addition,           
 your return on the securities will vary based on the number of determination dates on which the requirements of the contingent quarterly coupon have been met prior to maturity or an early redemption. Furthermore, if the securities are   
 redeemed prior to maturity, you will not receive any contingent quarterly coupons or any other payment in respect of any determination dates after the applicable contingent coupon payment date, and your return on the securities could be 
 less than if the securities remained outstanding until maturity. If the securities are not redeemed prior to maturity, you may be subject to the depreciation in the price of the worst performing underlying stock even though you cannot   
 participate in any appreciation in the prices of the underlying stocks. As a result, the return on an investment in the securities could be less than the return on a direct investment in any or all of the underlying stocks. In addition, 
 unless and until you receive shares of the worst performing underlying stock on the maturity date, as an owner of the securities, you will not receive any dividends or distributions on any underlying stock and you will not have voting   
 rights or any other rights of a