Company: TDBCP
Filing Date: 2025-08-19
Form Type: 424B2
Source: 0001140361-25-031886
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-19
Form: 424B2
Chunk 13
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 difference between the public offering price of your Buffered PLUS and the estimated value of the Buffered PLUS reflects costs and expected profits associated with selling and structuring the Buffered PLUS, as well as 
 hedging our obligations under the Buffered PLUS. 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. |

| August 2025 | Page9 |

| $18,866,000.00 Dual Directional Buffered PLUS Based on the Value of the S&P 500®Index due September 3, 2027 
 Buffered Performance Leveraged Upside SecuritiesSM                                                          
 Principal at Risk Securities                                                                                |

| ◾ | The estimated value of your Buffered PLUS is based on our internal funding rate.The estimated value of your Buffered PLUS is determined by reference to our internal funding rate. The internal                                                
 funding rate used in the determination of the estimated value of the Buffered PLUS generally represents a discount from the credit spreads for our conventional, fixed-rate debt Buffered PLUS and the borrowing rate we would pay for our     
 conventional, fixed-rate debt Buffered PLUS. This discount is based on, among other things, our view of the funding value of the Buffered PLUS as well as the higher issuance, operational and ongoing liability management costs of the       
 Buffered PLUS in comparison to those costs for our conventional, fixed-rate debt, as well as estimated financing costs of any hedge positions, taking into account regulatory and internal requirements. If the interest rate implied by the   
 credit spreads for our conventional, fixed-rate debt Buffered PLUS, or the borrowing rate we would pay for our conventional, fixed-rate debt Buffered PLUS were to be used, we would expect the economic terms of the Buffered PLUS to be more 
 favorable to you. Additionally, assuming all other economic terms are held constant, the use of an internal funding rate for the Buffered PLUS is expected to increase the estimated value of the Buffered PLUS at any time.                   |

| ◾ | The estimated value of the Buffered PLUS is based on our internal pricing models, which may prove to be inaccurate and may be different from the pricing models of other financial institutions.The                                            
 estimated value of your Buffered PLUS is based on our internal pricing models when the terms of the Buffered PLUS are set, which take into account a number of variables, such as our internal funding rate on the pricing date, and are based 
 on a number of subjective assumptions, which are not evaluated or verified on an independent basis and may or may not materialize. Further