Company: TDBCP
Filing Date: 2025-07-24
Form Type: 424B2
Source: 0001140361-25-027052
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-24
Form: 424B2
Chunk 15
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 ability to control or predict their 
 actions. You, as an investor in the securities, should conduct your own independent investigation of the relevant index sponsor and each underlying index. No index sponsor is involved in the securities offered hereby in any way and has no                                                                                                                             
 obligation of any sort with respect to your securities. The relevant index sponsor has no obligation to take your interests into consideration for any reason, including when taking any actions that might affect the value of, and any amounts                                                                                                                           
 payable on, your securities.                                                                                                                                                                                                                                                                                                                                               |

Risks Relating to Estimated Value and Liquidity

| ◾ | The estimated value of your securities is less than the public offering price of your securities.The estimated                                                                                                                                   
 value of your securities is less than the public offering price of your securities. The difference between the public offering price of your securities and the estimated value of the securities reflects costs and expected profits associated 
 with selling and structuring the securities, as well as hedging our obligations under the securities. Because hedging our obligations entails risks and may be influenced by market forces beyond our control, this hedging may result in a      
 profit that is more or less than expected, or a loss.                                                                                                                                                                                            |

| July 2025 | Page13 |

| $4,038,000 Contingent Income Auto-Callable Securities due July 27, 2027                            |
| Based on the Worst Performing of the Nasdaq-100 Index®, the Nikkei 225®Index and the S&P 500®Index 
 Principal at Risk Securities                                                                       |

| ◾ | The estimated value of your securities is based on our internal funding rate.The estimated value of your securities                                                                                                                              
 is determined by reference to our internal funding rate. The internal funding rate used in the determination of the estimated value of the securities generally represents a discount from the credit spreads for our conventional, fixed-rate   
 debt securities and the borrowing rate we would pay for our conventional, fixed-rate debt securities. This discount is based on, among other things, our view of the funding value of the securities as well as the higher issuance, operational 
 and ongoing liability management costs of the securities in comparison to those costs for our conventional, fixed-rate debt, as well as estimated financing costs of any hedge positions, taking into account regulatory and internal            
 requirements. If the interest rate implied by the credit spreads for our conventional, fixed-rate debt securities, or the borrowing rate we would pay for our conventional, fixed-rate debt securities were to be used, we would expect the      
 economic