Company: TDBCP
Filing Date: 2025-07-17
Form Type: 424B2
Source: 0001140361-25-026226
Chunk: 10

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-17
Form: 424B2
Chunk 10
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 with selling and structuring the Notes, as well as hedging our obligations under the Notes, secondary market prices of your Notes will likely be less than the public offering price of your Notes. As a result, the price at which TDS, other affiliates of ours or third parties may be willing to purchase the Notes from you in secondary market transactions, if any, will likely be less than the price you paid for your Notes, and any sale prior to the Maturity Date could result in a substantial loss to you. The Temporary Price at Which TDS May Initially Buy the Notes in the Secondary Market May Not Be Indicative of Future Prices of Your Notes. Assuming that all relevant factors remain constant after the Pricing Date, the price at which TDS may initially buy or sell the Notes in the secondary market (if TDS makes a market in the Notes, which it is not obligated to do) may exceed the estimated value of the Notes on the Pricing Date, as well as the secondary market value of the Notes, for a temporary period after the Pricing Date of the Notes, as discussed further under “Additional Information Regarding the Estimated Value of the Notes.” The price at which TDS may initially buy or sell the Notes in the secondary market may not be indicative of future prices of your Notes. The Market Value of Your Notes May Be Influenced by Many Unpredictable Factors. When we refer to the market value of your Notes, we mean the value that you could receive for your Notes if you chose to sell them in the open market before the Maturity Date. A number of factors, many of which are beyond our control, will influence the market value of your Notes, including:

| • | the price of the Reference Asset; |

| • | the volatility – i.e., the frequency and magnitude of changes – in the price of the Reference Asset; |

| • | the dividend rates of the Reference Asset, if applicable; |

| • | economic, financial, regulatory and political, military, public health or other events that may affect stock markets generally and the market segment of which the Reference Asset is a part, and which may affect the 
 market price of the Reference Asset;                                                                                                                                                                                   |

| • | interest rates and yield rates in the market; |

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| • | the time remaining until your Notes mature; and |

| • | our creditworthiness, whether actual or perceived, and including actual or anticipated upgrades or downgrades in our credit ratings or changes in other credit measures. |

These factors will influence the