Company: TDBCP
Filing Date: 2025-10-09
Form Type: 424B3
Source: 0001140361-25-037791
Chunk: 32

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-09
Form: 424B3
Chunk 32
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lying Stock will be adjusted on the ex-dividend date such that the new Price Multiplier will equal the prior Price Multiplier plus the product of:

| ● | the prior Price Multiplier; and |

| ● | the number of additional shares issued in the stock dividend with respect to one share of the Underlying Stock; |

provided that no adjustment will be made for a stock dividend for which the number of shares of the Underlying Stock paid or distributed is based on a fixed cash equivalent value, unless such distribution is an Extraordinary Dividend (as defined below). For example, a stock dividend of one new share for each share held would ordinarily change a Price Multiplier of one into a Price Multiplier of two. Extraordinary Dividends.There will be no adjustments to the Price Multiplier to reflect any cash dividends or cash distributions paid with respect to that Underlying Stock other than Extraordinary Dividends, as described below, and distributions described under “—Reorganization Events” below. PS-27 An “ Extraordinary Dividend” means, with respect to a cash dividend or other distribution with respect to the Underlying Stock, a dividend or other distribution that the calculation agent determines is not declared or otherwise made according to the Underlying Company’s then existing policy or practice of paying such dividends on a quarterly or other regular basis. If an Extraordinary Dividend occurs, the Price Multiplier will be adjusted on the ex-dividend date so that the new Price Multiplier will equal the product of:

| ● | the prior Price Multiplier; and |

| ● | a fraction, the numerator of which is the Closing Market Price per share of the Underlying Stock on the trading day preceding the ex-dividend date and the denominator of which is the amount by which the Closing 
 Market Price per share of the Underlying Stock on that preceding trading day exceeds the Extraordinary Dividend Amount.                                                                                            |

The “ Extraordinary Dividend Amount” with respect to an Extraordinary Dividend will equal:

| ● | in the case of cash dividends or other distributions that are paid as regular dividends, the amount per share of the Underlying Stock of that Extraordinary Dividend minus the amount per share of the immediately 
 preceding non-Extraordinary Dividend for that share; or                                                                                                                                                            |

| ● | in the case of cash dividends or other distributions that are not paid as regular dividends, the amount per share of the applicable Underlying Stock of that Extraordinary Dividend. |

To the extent an Extraordinary Dividend is not paid in cash,