Company: TDBCP
Filing Date: 2025-07-28
Form Type: 424B2
Source: 0001140361-25-027554
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-28
Form: 424B2
Chunk 9
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 engage in for our clients’ accounts, may affect the market value of, and return on, the notes and may create conflicts of interest with you.                                 |

| ◾ | There may be potential conflicts of interest involving the calculation agents, one of which is us and one of which is BofAS, as the determinations made by the calculation agents may be discretionary and could adversely affect any 
 payment on the notes.                                                                                                                                                                                                                 |

General Credit-Related Risks

| ◾ | Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to affect the value of the notes. If we become unable to meet our financial obligations as they become due, you 
 may lose some or all of your investment.                                                                                                                                                                                                   |

Tax-Related Risks

| ◾ | The U.S. federal income tax consequences of the notes are uncertain and, because of this uncertainty, there is a risk that the U.S. federal income tax consequences of the notes could differ materially and adversely from the treatment 
 described below in “Supplemental Discussion of U.S. Federal Income Tax Consequences”, as described further in product supplement EQUITY SUN-1 under “Material U.S. Federal Income Tax Consequences — Alternative Treatments”. You should  
 consult your tax advisor as to the tax consequences of an investment in the notes and the potential alternative treatments.                                                                                                               |

| ◾ | For a discussion of the Canadian federal income tax consequences of investing in the notes, please see the discussion in the prospectus under “Tax Consequences — Canadian Taxation” and in the product supplement EQUITY SUN-1 under        
 “Supplemental Discussion of Canadian Tax Consequences” and the further discussion herein under “Summary of Canadian Federal Income Tax Consequences”. If you are not a Non-resident Holder (as that term is defined in the prospectus) for   
 Canadian federal income tax purposes or if you acquire the notes in the secondary market, you should consult your tax advisors as to the consequences of acquiring, holding and disposing of the notes and receiving the payments that might 
 be due under the notes.                                                                                                                                                                                                                      |

| Market-Linked Step Up Notes | TS-8 |

Additional Risk Factors Additional Risk Factors Related to the Market Measure Recent executive orders could adversely affect your investment in the notes. Pursuant to an executive order issued in November 2020, as amended in January 2021 and as further amended and partially superseded by an executive order issued in June 2021 (