Company: TDBCP
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001140361-25-033656
Chunk: 6

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-02
Form: 424B2
Chunk 6
---
 than the return on a direct investment in the Index. Furthermore, the effect of the upside participation rate will be progressively reduced for all ending levels exceeding the ending level at which the maximum return is reached. The Return On Your Securities May Change Significantly Despite Only A Small Change In The Level Of The Index. If the ending level is less than the threshold level, you will receive less than the face amount of your securities and you will lose at least 20% and possibly all of the face amount per security. This means that while a decrease in the ending level to the threshold level will not result in a loss of principal on the securities, a decrease in the ending level to less than the threshold level will result in a loss of a significant portion of the face amount of the securities despite only a small change in the level of the Index.

P-8

Risks Relating To An Investment In the Bank’s Debt Securities, Including The Securities Investors Are Subject To The Bank’s Credit Risk, And The Bank’s Credit Ratings And Credit Spreads May Adversely Affect The Market Value Of The Securities. Although the return on the securities will be based on the performance of the Index, the payment of any amount due on the securities is subject to the Bank’s credit risk. The securities are the Bank’s senior unsecured debt obligations. Investors are dependent on the Bank’s ability to pay all amounts due on the securities on the stated maturity date and, therefore, investors are subject to the credit risk of the Bank and to changes in the market’s view of the Bank’s creditworthiness. Any decrease in the Bank’s credit ratings or increase in the credit spreads charged by the market for taking the Bank’s credit risk is likely to adversely affect the market value of the securities. If the Bank becomes unable to meet its financial obligations as they become due, investors may not receive any amounts due under the terms of the securities. Risks Relating To The Estimated Value Of The Securities And Any Secondary Market The Estimated Value Of Your Securities Is Less Than The Original Offering Price Of Your Securities. The estimated value of your securities is less than the original offering price of your securities. The difference between the original offering price of your securities and the estimated value of the securities reflects costs and expected profits associated with selling and structuring the securities, as well as hedging our obligations under the securities. Because hedging our obligations entails risks and may be influenced by market forces beyond our control, this hedging may result in a profit that is more or less than expected, or a