Company: TDBCP
Filing Date: 2025-09-15
Form Type: 424B2
Source: 0001140361-25-034990
Chunk: 7

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-15
Form: 424B2
Chunk 7
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 or more Averaging Dates that would lead to a positive return on the Notes may be moderated, wholly offset or even reversed by changes in the price of the Reference Asset on one or more of the other Averaging Dates. Therefore, even if the Closing Price of the Reference Asset was greater than or equal to the Initial Price, or less than the Initial Price but greater than or equal to the Barrier Price, on certain Averaging Dates (including the Final Averaging Date), the return on the Notes will be negative if the Closing Price of the Reference Asset is less than the Barrier Price on other Averaging Dates and the Final Price is less than the Barrier Price. Risks Relating to Characteristics of the Reference Asset There Are Market Risks Associated with the Reference Asset. The price of the Reference Asset can rise or fall sharply due to factors specific to the Reference Asset, its investment adviser (the “Investment Adviser”) and the Reference Asset Constituents and their issuers (the “Reference Asset Constituent Issuers”), such as stock price volatility, earnings, financial conditions, corporate, industry and regulatory developments, management changes and decisions and other events, as well as general market factors, such as general stock market volatility and levels, interest rates and economic and political conditions. You, as an investor in the Notes, should make your own investigation into the Investment Adviser and the Reference Asset for your Notes. For additional information, see “Information Regarding the Reference Asset” in this pricing supplement and the Investment Adviser’s SEC filings. We urge you to review financial and other information filed periodically by the Investment Adviser with the SEC. You Will Have No Rights to Receive Any Shares of the Reference Asset or any Reference Asset Constituent and You Will Not Be Entitled to Dividends or Other Distributions by the Investment Adviser or any Reference Asset Constituent Issuer. The Notes are our debt securities. They are not equity instruments, shares of stock, or securities of any other issuer. Investing in the Notes will not make you a holder of shares of the Reference Asset or any Reference Asset Constituent. You will not have any voting rights, any rights to receive dividends or other distributions, or any rights against the Investment Adviser or any Reference Asset Constituent Issuer. As a result, the return on your Notes will not reflect the return you would realize if you actually owned shares of the Reference Asset or any Reference Asset Constituents and received the dividends paid or other distributions made in connection with the Reference Asset or any Reference