Company: TDBCP
Filing Date: 2025-10-09
Form Type: 424B3
Source: 0001140361-25-037791
Chunk: 16

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-09
Form: 424B3
Chunk 16
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 the market value of LIRNs may be adversely affected.                                                                     |

| ● | Dividend Yields.In general, if the cumulative dividend yield on an Underlying Stock or Basket Stock, as applicable, increases, we anticipate that the market value of LIRNs 
 will decrease.                                                                                                                                                              |

| ● | Our Financial Condition and Creditworthiness.Our perceived creditworthiness, including any increases in our credit spreads and any actual or anticipated decreases in our                                                                  
 credit ratings, may adversely affect the market value of LIRNs. In general, we expect the longer the amount of time that remains until maturity, the more significant the impact will be on the value of LIRNs. However, a decrease in our 
 credit spreads or an improvement in our credit ratings will not necessarily increase the market value of LIRNs.                                                                                                                            |

| ● | Time to Maturity or, if Applicable, the Next Observation Date.There may be a disparity between the market value of LIRNs prior to maturity, or if applicable, prior to an                                                                      
 Observation Date, and their value at maturity or as of the next Observation Date, if applicable. This disparity is often called a time “value,” “premium” or “discount,” and reflects expectations concerning the value of the Market Measure  
 during the term of LIRNs. As the time to maturity or, if applicable, the next Observation Date, decreases, this disparity will likely decrease, such that the market value of LIRNs will approach the expected Redemption Amount to be paid at 
 maturity, or if applicable, the Call Amount to be paid at                                                                                                                                                                                      |

PS-14 the next Call Settlement Date. Conflict-Related Risks Trading and hedging activities by us, the agents, and our or their respective affiliates may affect the market value of, and any amount payable on, LIRNs.We, the agents, and our or their respective affiliates may buy or sell shares of an Underlying Stock, futures or options contracts, or exchange-traded instruments on or an Underlying Stock, or other listed or over-the-counter derivative instruments linked to an Underlying Stock. We, the agents, or our or their respective affiliates may execute such purchases or sales for our own or their own accounts, for business reasons, or in connection with hedging our obligations under LIRNs. These transactions could adversely affect the value of an Underlying Stock in a manner that could be adverse to your investment in LIRNs. On or before the applicable pricing date, any purchases or sales by us,