Company: TDBCP
Filing Date: 2025-07-08
Form Type: 424B2
Source: 0001140361-25-025209
Chunk: 30

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-08
Form: 424B2
Chunk 30
---
 are so treated, any contingent quarterly coupon that is paid by TD     
 (including on the maturity date or upon an issuer call) should be included in your income as ordinary income in accordance with your regular method of accounting for U.S. federal income tax purposes.                                            |
|                                  | In addition, excluding amounts attributable to any contingent quarterly coupon, you should                                                                                                                                                         |

| July 2025 | Page26 |

| $1,715,000 Callable Contingent Income Securities with Daily Coupon Observation due July 9, 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                                                                         |

| generally recognize capital gain or loss upon the taxable disposition (including cash settlement) of your securities in an amount equal to the difference between the amount you receive at such                                                   
 time (other than amounts or proceeds attributable to a contingent quarterly coupon or any amount attributable to any accrued but unpaid contingent quarterly coupon) and the amount you paid for your securities. Such gain or loss should         
 generally be long-term capital gain or loss if you have held your securities for more than one year (and otherwise, short-term capital gain or loss). The deductibility of capital losses is subject to limitations. Although uncertain, it is     
 possible that proceeds received from the taxable disposition of your securities prior to a contingent coupon payment date, but that could be attributed to an expected contingent quarterly coupon, could be treated as ordinary income. You       
 should consult your tax advisor regarding this risk.                                                                                                                                                                                               |
| Except to the extent otherwise required by law, TD intends to treat your securities for U.S. federal income tax purposes in accordance with the treatment described above and under “Material                                                      
 U.S. Federal Income Tax Consequences” in the accompanying product supplement unless and until such time as the IRS and the Treasury determine that some other treatment is more appropriate.                                                       |
| Based on certain factual representations received from us, our special U.S. tax counsel, Fried, Frank, Harris, Shriver & Jacobson LLP, is of the opinion that it would be                                                                          
 reasonable to treat your securities in the manner described above. However, because there is no authority that specifically addresses the tax treatment of the securities, it is possible that your securities could alternatively be treated for  
 tax purposes as a single contingent payment debt instrument, or pursuant to some other characterization, such that the timing and character of your income from the securities could differ materially and adversely from the treatment