Company: TDBCP
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0001140361-25-040316
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-04
Form: 424B2
Chunk 4
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 reject your offer to purchase.

| TD SECURITIES (USA) LLC | P-6 |

Additional Risk Factors The Notes involve risks not associated with an investment in conventional debt securities. This section describes the most significant risks relating to the terms of the Notes. For additional information as to these and other risks, please see “Additional Risk Factors Specific to the Notes” in the product supplement and “Risk Factors” in the prospectus. Investors should consult their investment, legal, tax, accounting and other advisors as to the risks entailed by an investment in the Notes and the suitability of the Notes in light of their particular circumstances. Risks Relating to Return Characteristics Your Investment in the Notes May Result in a Loss. The Notes do not guarantee the return of the Principal Amount and investors may lose up to their entire investment in the Notes. Specifically, if TD does not elect to call the Notes prior to maturity and the Final Value of any Reference Asset is less than its Barrier Value, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Value of the Least Performing Reference Asset is less than its Initial Value, and may lose the entire Principal Amount. The Potential Positive Return on the Notes Is Limited to the Interest Payments Paid on the Notes, Regardless of Any Appreciation of Any Reference Asset. The potential positive return on the Notes is limited to the Interest Payments paid, meaning any positive return on the Notes will be composed solely by the sum of the Interest Payments paid over the term of the Notes. Therefore, if the appreciation of any Reference Asset exceeds the sum of the Interest Payments actually paid on the Notes, the return on the Notes will be less than the return on a hypothetical direct investment in such Reference Asset or in a security directly linked to the positive performance of such Reference Asset. Further, if TD elects to call the Notes prior to maturity, you will not receive the Interest Payments or any other payment in respect of any Interest Payment Date after the Call Payment Date and your return on the Notes will be less than if the Notes remained outstanding until maturity. Your Return May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes, which could be negative, may be less than the return you could earn on other investments. Even if TD does not elect to call the Notes prior to maturity and your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security