Company: TDBCP
Filing Date: 2025-02-21
Form Type: 424B2
Source: 0001140361-25-005406
Chunk: 12

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-21
Form: 424B2
Chunk 12
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 of such Equity Reference Asset may be adjusted to reflect such event or events, which could adversely affect whether and the extent to which any amounts may be payable on the Notes and/or the market value of the Notes.

| TD SECURITIES (USA) LLC | P-10 |

Changes that Affect the Target Index of the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund Will Affect the Market Value of, and Return on, the Notes. Each of the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund is an ETF that seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of its Target Index (as specified herein). The policies of the sponsor of its Target Index (an “Index Sponsor”) concerning the calculation of its Target Index, additions, deletions or substitutions of the components of its Target Index and the manner in which changes affecting those components, such as stock dividends, reorganizations or mergers, may be reflected in its Target Index and, therefore, could adversely affect the return on the Notes and the market value of the Notes prior to maturity. The market value of, and return on, the Notes could also be affected if the sponsor of its Target Index changes these policies, for example, by changing the manner in which it calculates its Target Index. Some of the risks that relate to a target index of an ETF include those discussed in the product supplement, which you should review. The Performance of the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund May Not Correlate With That of Its Target Index. The performance of each of the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund may not exactly replicate the performance of its Target Index because the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund will reflect transaction costs and fees that are not included in the calculation of its Target Index. It is also possible that the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund may not fully replicate or may in certain circumstances diverge significantly from the performance of its Target Index due to the temporary unavailability of certain securities in the secondary market, the performance of any derivative instruments contained in the iShares ®Russell 2000 Value ETF and Real Estate Select Sector SPDR ®Fund, differences in trading hours between the iShares