Company: TDBCP
Filing Date: 2025-11-18
Form Type: 424B2
Source: 0001140361-25-042596
Chunk: 15

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-18
Form: 424B2
Chunk 15
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 by any one underlying index may negatively affect your return and will not be offset or mitigated by the performance of any other underlying index.           
 Accordingly, your investment is subject to the market risk of each underlying index.                                                                                                                                                             |

| November 2025 | Page11 |

| $34,025,000 Callable Contingent Income Securities with Daily Coupon Observation due November 18, 2027 |
| Based on the Worst Performing of the Nasdaq-100 Index®, the Russell 2000®Index and the S&P 500®Index  
 Principal at Risk Securities                                                                          |

| ■ | Because the securities are linked to the performance of more than one underlying index, there is an increased probability that you will not receive a contingent quarterly coupon with respect to a                                             
 quarterly observation period 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 quarterly coupon with respect to a quarterly observation period           
 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 index if their terms are 
 otherwise substantially similar. With a greater total number of underlying indices, it is more likely that the index closing value or the final index value, as applicable, ofanyunderlying index                                               
 will be less than its coupon threshold level and/or downside threshold level. Therefore, it is more likely that you will (a) not receive any contingent quarterly 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 underlying index. In addition, if the performances of the underlying indices are not correlated to each other, the risk   
 that the index closing value (on any trading day during a quarterly observation period) or the final index value, as applicable, ofanyunderlying index is less than its coupon threshold level or                                               
 downside threshold level is even greater.                                                                                                                                                                                                       |

Risks Relating to Characteristics of the Underlying Indices

| ■ | The level of each underlying index 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 index and indirectly linked to the value of the index constituent stocks. The level of each underlying index can rise or fall sharply due to factors specific to such underlying index or its index constituent 
 stocks and