Company: TDBCP
Filing Date: 2025-07-28
Form Type: 424B2
Source: 0001140361-25-027562
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-28
Form: 424B2
Chunk 5
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 than a comparable investment directly in the stocks included in the Index. |

Market Measure-Related Risks

| ◾ | The Index sponsor (as defined below) may adjust the Index in a way that may adversely affect its level and your interests, and the Index sponsor has no obligation to consider your interests. |

| ◾ | You will have no rights of a holder of the securities included in the Index, or of a holder with a short position directly in the Index (or of the securities included in the Index) and you will not be entitled to receive securities 
 or dividends or other distributions by the issuers of those securities.                                                                                                                                                                 |

| ◾ | While we, MLPF&S, BofAS or our or their respective affiliates may from time to time own securities of companies included in the Index, none of us, MLPF&S, BofAS or our or their respective affiliates control any company 
 included in the Index, and have not verified any disclosure made by any such company.                                                                                                                                      |

| ◾ | The value of, and your return on, the notes may be affected by factors affecting the international securities markets, specifically changes in the countries represented by the Index. In addition, you will not obtain the benefit of 
 any increase in the value of the currencies in which the securities in the Index trade against the U.S. dollar which you would have received if you had owned the securities in the Index during the term of your notes, although the  
 level of the Index may be adversely affected by general exchange rate movements in the market.                                                                                                                                         |

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-12). 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 on our internal funding rate. The internal funding rate used in the determination