Company: TDBCP
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001140361-25-007568
Chunk: 19

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-07
Form: 424B3
Chunk 19
---
, and any
    amount payable on, the notes” and “— Our trading, hedging and other business activities, and those of the agents or one or more of our or their respective affiliates, may create conflicts of interest with you” above.**

<div align='center'>PS-16</div>

#### General Credit-Related Risks
**Payments on the notes are subject to our credit risk, and actual or perceived changes in our creditworthiness are expected to affect the value of, and any amount payable on, the notes . The notes are our senior unsecured debt securities, and are not, either directly or indirectly, an obligation of any third party.  As a result, your receipt of any payment on the notes
    is dependent upon our ability to repay our obligations on the applicable payment date, regardless of whether the Market Measure increases from the Starting Value to the Ending Value or the Observation Level.  No assurance can be given as to what our
    financial condition will be on the applicable payment date. If we become unable to meet our financial obligations as they become due, you may not receive any amount payable under the terms of the notes.

In addition, our credit ratings are an assessment by ratings agencies of our ability to pay our obligations.  Consequently, our perceived creditworthiness and
    actual or anticipated decreases in our credit ratings or increases in the spread between the yield on our securities and the yield on U.S. Treasury securities (the “**

#### credit spread
”) prior to the maturity date may
    adversely affect the market value of the notes.  However, because your return on the notes depends upon factors in addition to our ability to pay our obligations, such as the value of the Market Measure, an improvement in our credit ratings will not
    reduce the other investment risks related to the notes.

#### Tax-Related Risks
**Significant Aspects of the Tax Treatment of the Notes Are Uncertain. The U.S. federal income tax consequences of an
    investment in the notes are uncertain and may be adverse to a holder of the notes. There is no direct legal authority as to the proper U.S. federal income tax treatment of the notes, and we do not plan to request a ruling from the U.S. Internal Revenue
    Service (the “**

#### IRS
**”) regarding the tax treatment of the notes, and the IRS or a court may not agree with the tax treatment described in this product supplement or the applicable term sheet. If the IRS were
    successful