Company: TDBCP
Filing Date: 2025-06-17
Form Type: 424B3
Source: 0001140361-25-022771
Chunk: 20

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-17
Form: 424B3
Chunk 20
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 or the calculation day.                                                                                                                                                                                |

| • | Economic and Other Conditions Generally.The                                                                                                                                                                                               
 general economic conditions of the capital markets in the United States, as well as geopolitical conditions and other financial, political, public health, regulatory, and judicial events, natural disasters, acts of terrorism or war,  
 and related uncertainties that affect stock or commodity markets generally, may adversely affect the value of the Market Measure and the market value of the SUNs. If the Market Measure includes one or more Underlying Funds or Indices 
 with Underlying Constituents traded in one or more non-U.S. markets (a “non-U.S. Market Measure”), the value of your SUNs may also be adversely affected by similar events in the markets of the                                          
 relevant foreign countries.                                                                                                                                                                                                               |

| • | Interest Rates.We expect that changes in interest rates will affect the market value of the SUNs. In general, if U.S. interest rates increase, we expect that the market                                                                 
 value of the SUNs will decrease. In general, we expect that the longer the amount of time that remains until maturity, the more significant the impact of these changes will be on the value of the SUNs. In the case of non-U.S. Market 
 Measures, the level of interest rates in the relevant foreign countries may also affect their economies and in turn the value of the non-U.S. Market Measure, and, thus, the market value of the SUNs may be adversely affected.         |

| • | Dividend Yields.In general, if the cumulative dividend yields on the securities included in the Market Measure increase, we anticipate that the market value of the SUNs 
 will decrease.                                                                                                                                                           |

| • | Exchange Rate Movements and Volatility.If the Market Measure of your SUNs includes any non-U.S. Market Measures, changes in, and the volatility of, the exchange rates                                                                         
 between the U.S. dollar and the relevant non-U.S. currency or currencies could have an adverse impact on the value of your SUNs, and the return on the SUNs may depend in part on the relevant exchange rates. In addition, the correlation    
 between the relevant exchange rate and any applicable non-U.S. Market Measure reflects the extent to which a percentage change in that exchange rate corresponds to a percentage change in the applicable non-U.S. Market Measure, and changes 
 in these correlations may have an adverse impact on the value of your SUNs.                                                                                                                                                                    |

| • | Our Financial Condition and Creditworthiness.Our perceived creditworth