Company: TDBCP
Filing Date: 2025-09-15
Form Type: 424B2
Source: 0001140361-25-034990
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-15
Form: 424B2
Chunk 6
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 There will be no periodic interest payments on the Notes as there would be on a conventional fixed-rate or floating-rate debt security of comparable maturity. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. The Notes do not provide for interest payments and you may not receive any positive return on the Notes. Even if your return is positive, your return may be less than that of a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money.

| TD SECURITIES (USA) LLC | P-3 |

The Amount Payable on the Notes, if Any, is Not Linked to the Price of the Reference Asset at Any Time Other Than on the Averaging Dates. Any payment on the Notes will be based on the Final Price, which will be the arithmetic average of the Closing Price of the Reference Asset on each of the Averaging Dates (including the Final Averaging Date). If the price of the Reference Asset prior to the Averaging Dates remains greater than or equal to the Initial Price, or less than the Initial Price but greater than or equal to the Barrier Price, but then adversely changes as of the Averaging Dates, the Payment at Maturity, if any,may be significantly less than it would have been had the Payment at Maturity been linked to the price of the Reference Asset prior to such change. Although the Closing Price of the Reference Asset on the Final Averaging Date or at other times during the term of the Notes may be higher than the Final Price, the Payment at Maturity, if any,will be based solely on the arithmetic average of the Closing Price of the Reference Asset on each of the Averaging Dates as compared to the Initial Price. The Amount Payable on the Notes, if Any, is Based on the Arithmetic Average of the Closing Prices of the Reference Asset on Each of the Averaging Dates, and Therefore the Payment at Maturity, if Any, May be Less Than If It Were Based Solely on the Closing Price of the Reference Asset on a Single Valuation Date. The Payment at Maturity, if any, will be calculated by reference to the Final Price, which will be equal to the arithmetic average of the Closing Price of the Reference Asset on each of the Averaging Dates. In calculating the Final Price, positive performance of the Reference Asset on one