Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 26

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 26
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 (Canada), R.S.C. 1985 (5 Supp.) c. 1, as amended to the date hereof (the “Tax Act”)), of a non-resident holder at the time of their disposition, such holder generally will be required to satisfy certain obligations imposed under section 116 of the Tax Act, in the absence of which a purchaser who intends
to acquire such shares would be entitled to withhold 25% of the purchase price. As a result of these administrative requirements, Series 33 Shares that are taxable Canadian property and not treaty exempt property of a
non-resident holder may be less liquid than otherwise may be the case. See “Certain Canadian Federal Income Tax Considerations—Holders Not Resident in Canada—Series 33 Shares and Common
Shares—Dispositions of Series 33 Shares or Common Shares” for more information.

No additional amounts will be paid on dividends on the Series 33 Shares.

Although under current law, dividends paid or deemed to be paid to
non-resident holders of the Series 33 Shares would generally be subject to Canadian non-resident withholding tax as described under “Certain Canadian Federal
Income Tax Considerations—Holders Not Resident in Canada—Series 33 Shares and Common Shares—Dividends”, no additional amounts will be paid by the Bank on dividends paid or deemed to be paid on the Series 33 Shares.

The market value of the Notes is subject to interest rate risk and the Notes may trade at a discount from their initial offering price.

Future trading prices of the Notes will depend on many factors, including prevailing interest rates, foreign exchange movements, the market for
similar securities, general economic conditions and the Bank’s financial condition, performance, prospects and other factors. If any of the Notes are traded after their initial issuance, they may trade at a discount from their initial offering
price.

Prevailing interest rates will affect the market value of the Notes. Assuming all other factors remain unchanged, the market value
of the Notes would be expected to decline as prevailing interest rates for similar securities rise and would be expected to increase as prevailing interest rates for similar securities decline. Spreads over the U.S. Treasury Rate and comparable
benchmark rates of interest for similar securities will also affect the market value of the Notes.

The market value of the Series 33 Shares may fluctuate.

Prevailing yields on similar securities will affect the market value of Series 33 Shares. Assuming all other factors remain
unchanged, the market value of the Series 33 Shares will decline as