Company: TDBCP
Filing Date: 2025-11-18
Form Type: 424B2
Source: 0001140361-25-042596
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-18
Form: 424B2
Chunk 14
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 coupon payment date will be determined at the end of the relevant quarterly observation period, based on the index closing value of each  
 underlying index oneach trading dayduring the relevant quarterly observation period. If the index closing value ofanyunderlying index onany trading dayduring a quarterly observation period is below the coupon threshold level for such index, you will receive no contingent quarterly coupon for the related quarterly observation period, even if the index closing value of such underlying 
 index was at or above its respective coupon threshold level on most or all of the other trading days during that quarterly observation period and even if the index closing values of the other underlying indices were at or above the coupon                                                                                                                                                    
 threshold levels for such indices on each trading day during that quarterly observation period.                                                                                                                                                                                                                                                                                                   |

| ■ | Your potential return on the securities is limited, you will not participate in any appreciation of the underlying indices and you will not realize a return beyond the returns represented by the                                               
 contingent quarterly coupons received, if any, during the term of the securities.The return potential of the securities is limited to the contingent quarterly coupons, regardless of the appreciation of the underlying indices. In             
 addition, your return on the securities will vary based on the number of quarterly observation periods on which the requirements of the contingent quarterly coupon have been met prior to maturity or an issuer call. Furthermore, if TD elects 
 to redeem the securities prior to maturity, you will not receive any contingent quarterly coupons or any other payment in respect of any quarterly observation periods after the applicable redemption date, and your return on the securities   
 could be less than if the securities remained outstanding until maturity. If TD does not elect to redeem the securities prior to maturity, you may be subject to the depreciation in the level of the worst performing underlying index even     
 though you cannot participate in any appreciation in the levels of the underlying indices. As a result, the return on an investment in the securities could be less than the return on a direct investment in any or all of the index            
 constituent stocks.                                                                                                                                                                                                                              |

| ■ | You are exposed to the market risk of each underlying index.Your return on the securities is not linked to a basket consisting of the underlying indices. Rather, it will be contingent upon the                                                 
 performance of each underlying index. Unlike an instrument with a return linked to a basket of indices, common stocks or other underlying assets, in which risk is mitigated and diversified among all of the components of the basket, you will 
 be exposed equally to the risks related to each underlying index. Poor performance