Company: TDBCP
Filing Date: 2025-08-26
Form Type: 424B2
Source: 0001140361-25-032739
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-26
Form: 424B2
Chunk 5
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 avoidance of doubt, the term “Reference Asset” in 
                                                      the definition of market disruption event refers to a Basket Component and the term “Reference Asset Constituents” refers to Basket Component Constituents. If the originally scheduled Valuation Date is postponed due to a non-Trading Day or 
                                                                                                                                               a market disruption event for any Basket Component, the Maturity Date will be postponed to the second Business Day after the postponed Valuation Date. |
| Closing Level:           |                                                                                                                               With respect to each Basket Component, its Closing Level will be the official closing level of that Basket Component or any successor index (as defined in the product 
                                                                                                                                                                      supplement) published by the Index Sponsor (as defined in the product supplement) on any Trading Day for that Basket Component. |
| Trading Day:             |                                                                                                                                                                                                                               A Trading Day with respect to a Basket Component means a day on which: 
 (A)the Eurex (as to the EURO STOXX 50®Index), the Tokyo Stock Exchange (as to TOPIX), the London Stock Exchange (as to the FTSE®100 Index), the SIX Swiss Exchange (as to the Swiss Market Index), or the Australian Stock Exchange (as to the S&P/ASX 200 Index) (or any successor to the foregoing 
                                                                                                                                                                                                                                                  exchanges), as applicable, is open for trading; and 
                                                                                                                                                                                                                       (B)that Basket Component or its successor thereto is calculated and published. |

P-4

| Business Day:           | Any day that is a Monday, Tuesday, Wednesday, Thursday or Friday that is neither a legal holiday nor a day on which banking institutions are authorized or required by law                                                                       
 to close in New York City.                                                                                                                                                                                                                       |
| U.S. Tax Treatment:     | By purchasing a Note, each holder agrees, in the absence of a statutory or regulatory change or an administrative determination or judicial ruling to the contrary, to                                                                           
 characterize the Notes, for U.S. federal income tax purposes, as prepaid derivative contracts with respect to the Basket. Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver 
 & Jacobson LLP, is of the opinion that it would be reasonable to treat the Notes in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the Notes, it is possible that your      
 Notes could alternatively be treated for tax purposes as a single contingent payment debt instrument, or pursuant to some