Company: TDBCP
Filing Date: 2025-07-01
Form Type: 424B2
Source: 0001140361-25-024322
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-01
Form: 424B2
Chunk 12
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| Accelerated Return Notes®                                        
 Linked to the Energy Select Sector SPDR®Fund due September, 2026 |

| i. | The indices are first evaluated to ensure none of the indices breach the maximum allowable limits defined in rules (ii) and (v) below. If any of the allowable limits are breached, the component stocks are reweighted based on their 
 float-adjusted market capitalization weights.                                                                                                                                                                                          |

| ii. | If any component stock has a weight greater than 24%, that component stock has its float-adjusted market capitalization weight capped at 23%. The 23% weight cap creates a 2% buffer to ensure that no component stock exceeds 25% as of the 
 quarter-end diversification requirement date.                                                                                                                                                                                                |

| iii. | All excess weight is equally redistributed to all uncapped component stocks within the relevant Select Sector Index. |

| iv. | After this redistribution, if the float-adjusted market capitalization weight of any other component stock(s) then breaches 23%, the process is repeated iteratively until no component stock breaches the 23% weight cap. |

| v. | The sum of the component stocks with weight greater than 4.8% cannot exceed 50% of the total index weight. These caps are set to allow for a buffer below the 5% limit. |

| vi. | If the rule in step (v) is breached, all the component stocks are ranked in descending order of their float-adjusted market capitalization weights and the first component stock that causes the 50% limit to be breached has its weight 
 reduced to 4.6%.                                                                                                                                                                                                                         |

| vii. | This excess weight is equally redistributed to all component stocks with weights below 4.6%. This process is repeated iteratively until step (v) is satisfied. |

| viii. | Index share amounts are assigned to each component stock to arrive at the weights calculated above. Since index shares are assigned based on prices one business day prior to rebalancing, the actual weight of each component stock at the 
 rebalancing differs somewhat from these weights due to market movements.                                                                                                                                                                    |

| ix. | If necessary, the reweighting process may take place more than once prior to the close on the last business day of March, June, September or December to ensure conformity with all diversification requirements. |

Each Select Sector Index is calculated using the same methodology utilized by S&P Dow Jones Indices in calculating the SPX, using a base-weight