Company: TDBCP
Filing Date: 2025-07-24
Form Type: 424B2
Source: 0001140361-25-027052
Chunk: 11

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-24
Form: 424B2
Chunk 11
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 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 by any one underlying index may negatively affect your return and will not be  
 offset or mitigated by the performance of any other underlying index. Accordingly, your investment is subject to the market risk of each underlying index.                                                                                      |

| ◾ | Because the securities are linked to the performance of more than one underlying index, there is an increased probability                                                                                                                                                                                                                                                                               
 that you will not receive a contingent quarterly coupon on any determination date and that you will lose a significant portion or all of your investment in the securities.The risk that you will not receive a contingent quarterly                                                                                                                                                                    
 coupon on any determination date and that you will lose a significant portion or all of your investment in the securities is greater if you invest in the securities as opposed to securities that are linked to the performance of a single                                                                                                                                                            
 underlying index if their terms are otherwise substantially similar. With a greater total number of underlying indices, it is more likely that the index closing value or the final index value, as applicable, ofanyunderlying index will be less than its coupon threshold level and/or downside threshold level. Therefore, it is more likely that you will (a) not receive any contingent quarterly 
 coupons and/or (b) receive an amount in cash that is worth less than your stated principal amount on the maturity date than would have been the case had the securities been linked to only one underlying index. In addition, if the                                                                                                                                                                   
 performances of the underlying indices are not correlated to each other, the risk that the index closing value (on any determination date other than the final determination date) or the final index value, as applicable, ofanyunderlying index is less than its coupon threshold level or downside threshold level is even greater.                                                                  |

Risks Relating to Characteristics of the Underlying Indices

| ◾ | The level of each underlying index will be affected by various factors that interact in complex and unpredictable ways.The                                                                                                                    
 return on the securities, which may be negative, is linked to the performance of each underlying index and indirectly linked to the value of the index constituent stocks. The level of each underlying index