Company: TDBCP
Filing Date: 2025-02-27
Form Type: 424B2
Source: 0001140361-25-006232
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Company: TORONTO DOMINION BANK
Filing Date: 2025-02-27
Form: 424B2
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The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion. Dated February 27, 2025.

| Pricing Supplement dated , 2025 to the                                                        
 Product Supplement MLN-ES-ETF-1 dated February 26, 2025 andProspectus Dated February 26, 2025 | Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

General

| • | The Notes are designed for investors who (i) are willing to forgo participation in any percentage increase of the shares of the SPDR®S&P 500®ETF Trust (the“Reference Asset”) and instead receive a fixed return in cash if the Closing Price of the Reference Asset on the Valuation Date (the “Final Price”) increases, remains flat or does not decline below the 
 Buffer Price, (ii) are willing to accept the risk of losing some or all of their Principal Amount and (iii) are willing to forgo interest and dividend payments.                                                                                                                                                                                                     |

| • | If the Final Price is less than the Initial Price by more than 10.00%, investors will receive a number of shares of the Reference Asset per Note equal to the Physical Delivery Amount, the 
 value of which, based on the Final Price, will be worth less than the Principal Amount and, therefore, may lose the entire Principal Amount of the Notes.                                   |

| • | Any payments or deliveries on the Notes, including any repayment of principal, are subject to our credit risk. |

Key Terms

| Issuer:                   | The Toronto-Dominion Bank (“TD”)                                                                                                                                                                                                                 |
| Reference Asset:          | The shares of the SPDR®S&P 500®ETF Trust (Bloomberg ticker: “SPY UP”)                                                                                                                                                                            |
| Principal Amount:         | $10,000 per Note, subject to a minimum investment of $10,000 and integral multiples of $10,000 in excess thereof.                                                                                                                                |
| Term:                     | Approximately 54 weeks. In the event that we make any change to the expected Pricing Date and Issue Date, the Calculation Agent may adjust the Valuation Date and the Maturity                                                                   
 Date to ensure that the stated term of the Notes remains the same.                                                                                                                                                                               |
| Pricing Date:             | Expected to be February 27