Company: TDBCP
Filing Date: 2025-10-27
Form Type: 424B2
Source: 0001140361-25-039411
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-27
Form: 424B2
Chunk 6
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) would allow you to receive the full benefit of any decrease in the 
 level of the Underlying Stock (or the stocks included in the Underlying Stock).                                                                                                                                                           |

| ◾ | Your investment return based on any increase in the level of the Underlying Stock is limited to the return represented by the Capped Value and may be less than a comparable investment directly in the Underlying Stock. |

Market Measure-Related Risks

| ◾ | The Underlying Company will have no obligations relating to the notes, and none of us, MLPF&S, BofAS or our or their respective affiliates will perform any due diligence procedures with respect to the Underlying Company in 
 connection with this offering.                                                                                                                                                                                                 |

| ◾ | You will have no rights of a holder of the Underlying Stock, or of a holder with a short position directly in the Underlying Stock and you will not be entitled to receive the Underlying Stock or dividends or other distributions by 
 the Underlying Company.                                                                                                                                                                                                                |

| ◾ | While we, MLPF&S, BofAS or our or their respective affiliates may from time to time own securities of the Underlying Company, we, MLPF&S, BofAS and our or their respective affiliates do not control the Underlying Company, 
 and have not verified any disclosure made by the Underlying Company.                                                                                                                                                          |

| ◾ | The Redemption Amount will not be adjusted for all corporate events that could affect the Underlying Stock. See “Description of LIRNs—Anti-Dilution Adjustments” beginning on page PS-26 of product supplement STOCK LIRN-1. |

Valuation- and Market-Related Risks

| ◾ | The initial estimated value of your notes on the pricing date is less than their public offering price. The difference between the public offering price of your notes and the initial estimated value of the notes reflects costs and    
 expected profits associated with selling and structuring the notes, as well as hedging our obligations under the notes (including, but not limited to, the hedging related charge, as further described under “Structuring the Notes” on  
 page TS-10). Because hedging our obligations entails risks and may be influenced by market forces beyond our control, this hedging may result in a profit that is more or less than expected, or a loss and the amount of any such profit 
 or loss will not be known until the maturity date.                                                                                                                                                                                        |

| ◾ | The initial estimated value of your notes is based