Company: TDBCP
Filing Date: 2025-12-02
Form Type: 424B2
Source: 0001140361-25-043985
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-02
Form: 424B2
Chunk 14
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 is subject to the market risk of each underlying stock.                                                                                                                  |

| ■ | Because the securities are linked to the performance of more than one underlying stock, there is an increased probability that you will not receive a contingent monthly coupon                                                                  
 on any determination date and that you will lose a significant portion or all of your investment in the securities. The risk that you will not receive a contingent monthly coupon on any determination date and that you will lose a            
 significant portion or all of your investment in the securities is greater if you invest in the securities as opposed to securities that are linked to the performance of a single underlying stock if their terms are otherwise substantially   
 similar. With a greater total number of underlying stocks, it is more likely that the closing price or the final share price, as applicable, ofanyof the underlying stocks will be less than its                                                 
 coupon threshold price and/or downside threshold price. Therefore, it is more likely that you will (a) not receive any contingent monthly coupons and/or (b) receive an amount in cash that is worth less than your stated principal amount on   
 the maturity date than would have been the case had the securities been linked to only one of the underlying stocks. In addition, if the performances of the underlying stocks are not correlated to each other, the risk that the closing price 
 (on any determination date other than the final determination date) or the final share price, as applicable, of any of the underlying stocks is less than its coupon threshold price or downside threshold price is even greater.                |

Risks Relating to Characteristics of the Underlying Stocks

| ■ | The price of each underlying stock will be affected by various factors that interact in complex and unpredictable ways.The return on the securities, which may be                                                                              
 negative, is linked to the performance of each underlying stock. The price of each underlying stock can rise or fall sharply due to factors specific to their issuers (each, an “underlying stock issuer”), such as stock or commodity price   
 volatility, earnings, financial conditions, corporate, industry and regulatory developments, management changes and decisions and other events, as well as general market factors, such as general stock market or commodity market volatility 
 and prices, interest rates and economic and political conditions. You, as an investor in the securities, should make your own investigation into the underlying stocks and the underlying stock issuers. For additional information regarding  
 the underlying stock issuers, please see “Information About the Underlying Stocks” below and the SEC filings referred to in that section.We urge you