Company: TDBCP
Filing Date: 2025-09-24
Form Type: 424B3
Source: 0001140361-25-035988
Chunk: 13

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-24
Form: 424B3
Chunk 13
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 similar events in the markets of the relevant foreign country.                                            |

| • | Interest Rates.We expect that changes in interest rates will affect the market value of the notes.  In general, if U.S. interest rates                                                                                                         
 increase, we expect that the market value of the notes will decrease.  In general, we expect that the longer the amount of time that remains until maturity, the more significant the impact of these changes will be on the value of the      
 notes. The level of interest rates also may affect the U.S. economy and any applicable market outside of the U.S., and, in turn, the value of the Underlying Stock, and, thus, the market value of the notes may be adversely affected. If the 
 Underlying Stock is an ADR, the level of interest rates in the relevant foreign country may affect the economy of that foreign                                                                                                                 |

PS-12 country and, in turn, the value of the ADR, and, thus, the market value of the notes may be adversely affected.

| • | Dividend Yields.In general, if the cumulative dividend yield on the Underlying Stock increases, we anticipate that the market value of the notes will decrease; 
 conversely, if that dividend yield decreases, we anticipate that the market value of your notes will increase.                                                  |

| • | 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 the notes. 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 the notes.  However, a decrease in 
 our credit spreads or an improvement in our credit ratings will not necessarily increase the market value of the notes.                                                                                                                         |

| • | Time to Maturity.There may be a disparity between the market value of the notes prior to maturity and their value at maturity. This disparity is often called a time                                                                            
 “value,” “premium,” or “discount,” and reflects expectations concerning the value of the Underlying Stock prior to the maturity date. As the time to maturity decreases, this disparity will likely decrease, such that the market value of the 
 notes will approach the expected Redemption Amount and the interest payment to be paid at maturity.                                                                                                                                             |

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