Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 85

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 85
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position of Notes, a Resident Holder will realize a capital gain (or a capital loss) equal to the amount, if any, by which the proceeds of disposition, net of any amount required to be included in the Resident Holder’s income as interest or
otherwise, exceed (or are exceeded by) the aggregate of the Resident Holder’s adjusted cost base thereof and any reasonable costs of disposition. On a Recourse Event, the proceeds of disposition will be the fair market value of the Series 33
Shares or the Common Shares, as the case may be, received on such Recourse Event. The cost of a Series 33 Share or Common Share received on such Recourse Event will generally equal the fair market value of such share on the date of acquisition and
will generally be averaged with the adjusted cost base of all Series 33 Shares or Common Shares, as the case may be, held by such Resident Holder as capital property immediately before such time for the purpose of determining thereafter the adjusted
cost base of each such share.

Series 33 Shares and Common Shares

Dividends

Dividends (including deemed dividends) received on the Series 33 Shares or Common Shares by a Resident Holder that is an individual (other than
certain trusts) will be included in the individual’s income and generally will be subject to the gross-up and dividend tax credit rules normally applicable to taxable dividends received by individuals
from taxable Canadian corporations. Taxable dividends received that are designated by the Bank as “eligible dividends” will be subject to an enhanced gross-up and dividend tax credit regime in
accordance with the Tax Act. Dividends (including deemed dividends) on the Series 33 Shares or Common Shares received by a Resident Holder that is a corporation will be included in computing the corporation’s income and will generally be
deductible in computing the taxable income of the corporation.

The Series 33 Shares will be “taxable preferred shares” as
defined in the Tax Act. The terms of the Series 33 Shares require the Bank to make the necessary election under Part VI.1 of the Tax Act so that corporate Resident Holders will not be subject to tax under Part IV.1 of the Tax Act on dividends
received (or deemed to be received) on the Series 33 Shares.

A Resident Holder that is a “private corporation” or a
“subject corporation”, each as defined in the Tax Act, will generally be liable under Part IV of the Tax Act to pay a tax (refundable in certain circumstances) on dividends