Company: TDBCP
Filing Date: 2025-03-12
Form Type: 424B2
Source: 0001140361-25-008434
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-03-12
Form: 424B2
Chunk 5
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 payments on the Notes as there would be on a conventional, fixed-rate or floating-rate debt security of comparable maturity. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. The Notes do not provide for interest payments and you receive no positive return on the Notes. Even if your return is positive, your return may be less than that of a conventional, interest-bearing senior debt security of TD of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date And Are Subject to Reinvestment Risk. If your Notes are subject to an automatic call, no further payments will be owed to you under the Notes after the Call Payment Date. Therefore, if the Notes are subject to an automatic call, you will not participate in any appreciation of the Reference Asset from the Initial Level to the Final Level. In addition, because the Notes could be called as early as the Call Payment Date, the holding period could be limited. If the Notes are subject to an automatic call, there is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk. Furthermore, to the extent you are able to reinvest such proceeds in an investment with a comparable return for a similar level of risk, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new notes. You Will Not Have Any Rights Associated with Owning the Reference Asset Constituents. Your return on the Notes may be less than that of a hypothetical direct investment in the Reference Asset or the stocks and other assets comprising the Reference Asset (the “Reference Asset Constituents”). Investing in the Notes will not make you a holder of the shares of the Reference Asset Constituents and you will not have any voting rights, any rights to receive dividends or other distributions or any rights against the issuers of the Reference Asset Constituents (the “Reference Asset Constituent Issuers”). Your Notes will be paid in cash and you will have no right to receive delivery of shares of the Reference Asset Constituents.

| TD SECURITIES (USA) LLC | P-3 |

The Amount Payable on the Notes, if Any, is Not Linked to the Level of the Reference Asset at Any Time Other Than on the Review Date or Valuation Date. Any payment on the Notes