Company: TDBCP
Filing Date: 2025-12-08
Form Type: 424B2
Source: 0001140361-25-044815
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-08
Form: 424B2
Chunk 5
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 Asset is less than its Initial Value, and may lose your entire Principal Amount. You will not receive a positive return on the Notes if the Notes are not automatically called and the Final Value of any Reference Asset is less than its Barrier Value. The Potential Positive Return on the Notes Is Limited to the Applicable Call Premium Paid on the Notes, if Any, Regardless of Any Appreciation of Any Reference Asset. The potential positive return on the Notes is limited to the applicable Call Premium to be paid only if the Notes are subject to an automatic call, regardless of any appreciation in the value of any Reference Asset. Even if the Notes are subject to an automatic call, if the percentage of appreciation of any Reference Asset exceeds the percentage return represented by the applicable Call Premium, the return on the Notes will be less than that of a hypothetical direct investment in such Reference Asset or in a security directly linked to the positive performance of such Reference Asset. Your Return May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes, which could be negative, may be less than that of other investments. The Notes do not provide for any interest payments and you may not receive a positive return on the Notes. Even if the Notes are subject to an automatic call and you receive a positive return on the Notes in respect of the applicable Call Premium, your return on the Notes may be less than that of a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date and Are Subject to Reinvestment Risk. If your Notes are automatically called, no further payments will be owed to you under the Notes after the applicable Call Payment Date. Therefore, because the Notes could be called as early as the first potential Call Payment Date, the holding period could be limited. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in the event the Notes are automatically called prior to the Maturity Date. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes.

| TD SECURITIES (USA) LLC | P-7 |

The Amount Payable on the Notes