Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B3
Source: 0001140361-25-006123
Chunk: 39

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B3
Chunk 39
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 will be equal to the amount you paid for your notes. Subject to the discussion below on the constructive ownership rules of Section 1260 of the Code, such recognized gain or loss should generally be long-term capital gain or loss if you have held your notes for more than one year (and otherwise, such gain or loss should be short-term capital gain or loss if held for one year or less). The deductibility of capital losses is subject to limitations. Unless otherwise specified in the applicable pricing supplement, we expect that our special U.S. tax counsel would be able to opine that it would be reasonable to treat your notes as prepaid forward contracts or prepaid derivative contracts with respect to the Reference Asset. It is possible that the IRS could assert that your holding period in respect of your notes should end on the date on which the amount you are entitled to receive upon maturity of your notes is determined (generally the Valuation Date), even though you will not receive any amounts from the Bank in respect of your notes prior to the applicable Payment Date or Maturity Date of your notes. In this case, you may be treated as having a holding period in respect of your notes ending prior to the applicable Payment Date or Maturity Date for your notes, and such holding period may be treated as one year or less even if you receive cash on the applicable Payment Date or Maturity Date of your notes at a time that is more than one year after the beginning of your holding period. Except to the extent otherwise required by law, the Bank intends to treat your notes for U.S. federal income tax purposes in accordance with the treatment described above unless and until such time as the Treasury and the IRS determine that some other treatment is more appropriate. PS-32 Section 1260 If a note references a Reference Asset Constituent that is treated as equity in a RIC such as certain exchange-traded funds, a REIT, a “passive foreign investment company” (a “PFIC”), a partnership, or other “pass-thru entity” for purposes of Section 1260 of the Code, it is possible that the “constructive ownership transaction” rules of Section 1260 of the Code may apply, in which case the tax consequences of a taxable disposition of the notes could be affected materially and adversely. Under the “constructive ownership” rules, if an investment in the notes is treated as a “constructive ownership transaction”, any long-term capital gain recognized by a U.S. holder in respect of such notes will be recharacterized as ordinary income