Company: TDBCP
Filing Date: 2025-05-09
Form Type: 424B2
Source: 0001140361-25-018119
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-09
Form: 424B2
Chunk 4
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 Reference Asset. Poor performance by any Reference Asset over the term of the Notes will negatively affect your return and will not be offset or mitigated by a positive performance by any other Reference Asset. For instance, you will receive a negative return equal to the Least Performing Percentage Change, subject to the Minimum Redemption Amount, if the Final Value of any Reference Asset is less than its Initial Value, even if the Percentage Change of another Reference Asset is positive or has not declined as much. Accordingly, your investment is subject to the market risk of each Reference Asset. The Payment at Maturity Is Not Linked to the Closing Level of Any Reference Asset at Any Time Other than the Valuation Date. The Final Value of each Reference Asset will be based on the Closing Level of that Reference Asset on the Valuation Date. Therefore, if the Closing Level of any Reference Asset dropped precipitously on the Valuation Date, the Payment at Maturity for your Notes may be significantly less than it would have been had the Payment at Maturity been linked to the Closing Levels of the Reference Assets prior to such drop. Although the actual Closing Levels of the Reference Assets on the Maturity Date or at other times during the term of your Notes may be higher than their Closing Levels on the Valuation Date, your return is based only on the Closing Level of the Least Performing Reference Asset on the Valuation Date. Risks Relating to Characteristics of the Reference Assets Because the Notes are Linked to the Least Performing Reference Asset, You Are Exposed to a Greater Risk of Losing up to 5.00% of Your Initial Investment at Maturity than if the Notes Were Linked to a Single Reference Asset. The risk that you will lose up to 5.00% of your initial investment in the Notes is greater if you invest in the Notes than the risk of investing in substantially similar securities that are linked to the performance of only one Reference Asset. With more Reference Assets, it is more likely that the Final Value of any Reference Asset will be less than its Initial Value than if the Notes were linked to a single Reference Asset. In addition, the lower the correlation is between the performance of a pair of Reference Assets, the more likely it is that one of the Reference Assets will decline in value to a Final Value that is less than its Initial Value. Although the correlation of the Reference Assets’

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performance may change over the term of the Notes, the economic terms of the Notes, including the Maximum Redemption Amount and Minimum Redemption Amount