Company: TDBCP
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001140361-25-007568
Chunk: 11

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-07
Form: 424B3
Chunk 11
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 result,
    the secondary market price of your notes, if any, may be materially less than the initial estimated value of the notes, as set forth in the applicable term sheet, determined by reference to our internal pricing models. In addition, market conditions
    and other relevant factors in the future may change and any assumptions may prove to be incorrect.

The initial estimated value of the notes will not be a prediction of the prices at which you may sell the notes in the secondary market, if any exists, and such secondary market prices, if any, will likely be less than the public offering price of the notes, may be less than the initial estimated value of the notes and could result in a substantial loss to you. The
    initial estimated value of the notes, as set forth in the applicable term sheet, will not be a prediction of the prices at which BofAS, our or their respective affiliates or third parties may be willing to purchase such notes from you in secondary
    market transactions (if they are willing to purchase, which they are not obligated to do). The price at which you may be able to sell your notes in the secondary market at any time, if any, will be influenced by many factors that cannot be predicted,
    such as market conditions, and any bid and ask spread for similar sized trades, and may be substantially less than the initial estimated value of the notes. Further, as secondary market prices of your notes take into account the levels at which our
    debt securities trade in the secondary market, and do not take into account our various costs and expected profits associated with selling and structuring the notes, as well as hedging our obligations under the notes, secondary market prices of your
    notes will likely be less than the public offering price of your notes. As a result, the price at which BofAS, our or their respective affiliates or third parties may be willing to purchase the notes from you in secondary market transactions, if any,
    will likely be less than the price you paid for your notes, and any sale prior to maturity could result in a substantial loss to you.

We cannot assure you that there will be a trading market for your notes. If a secondary market exists, we cannot predict
    how the notes will trade, or whether that market will be liquid or illiquid. The development of a trading market for the notes will depend on various factors, including our financial performance and changes in the value of the Market Measure. The
    number of potential buyers of your notes in any secondary