Company: TDBCP
Filing Date: 2025-10-02
Form Type: 424B2
Source: 0001140361-25-037074
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-02
Form: 424B2
Chunk 15
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ably from the U.S. economy in important respects, such as growth of gross national product, rate of inflation, capital reinvestment, resources and self-sufficiency. Governmental Regulatory Actions, Such As Sanctions, Could Adversely Affect Your Investment In The Securities. Governmental regulatory actions, including, without limitation, sanctions-related actions by the U.S. or a foreign government, could prohibit or otherwise restrict persons from holding the securities or the index constituent stocks of the Nikkei 225 ®Index, or engaging in transactions therein, and any such action could adversely affect the value of the Nikkei 225 ®Index or the securities. These regulatory actions could result in restrictions on the securities and could result in the loss of a significant portion or all of your investment in the securities, including if you are forced to divest the securities due to the government mandates, especially if such divestment must be made at a time when the value of the securities has declined. An Investment In The Securities Is Subject To Risks Associated With Investing In Stocks With Small Market Capitalizations. The stocks that constitute the Russell 2000 ®Index are issued by companies with relatively small market capitalization. These companies often have greater stock price volatility, lower trading volume and less liquidity than large capitalization companies. As a result, the Russell 2000 ®Index may be more volatile than that of an equity index that does not track solely small capitalization stocks. Stock prices of small capitalization companies are also generally more vulnerable than those of large capitalization companies to adverse business and economic developments, and the stocks of small capitalization companies may be thinly traded, and be less attractive to many investors if they do not pay dividends. In addition, small capitalization companies are typically less well-established and less stable financially than large capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of those individuals. Small capitalization companies tend to have lower revenues, less diverse product lines, smaller shares of their target markets, fewer financial resources and fewer competitive strengths than large capitalization companies. These companies may also be more susceptible to adverse developments related to their products or services. Risks Relating To Hedging Activities And Conflicts Of Interest

| • | Trading And Business Activities By The Bank Or Its Affiliates May Adversely Affect The Market Value Of, And Any Amount Payable On, The Securities. |

| • | There Are Potential Conflicts Of Interest Between You And The Calculation Agent. |

Risks Rel