Company: TDBCP
Filing Date: 2025-08-06
Form Type: 424B2
Source: 0001140361-25-029115
Chunk: 0

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-06
Form: 424B2
Chunk 0
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| Filed Pursuant to Rule 424(b)(2)      
 Registration Statement No. 333-283969 |

The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted. Subject to Completion, Dated August 6, 2025.

Pricing Supplement dated , 2025 to the Product Supplement MLN-EI-1 dated February 26, 2025, Underlier Supplement dated February 26, 2025 and Prospectus dated February 26, 2025

The Toronto-Dominion Bank (“TD” or “we”) is offering the Leveraged Buffered Notes (the “Notes”) linked to the least performing of the Nasdaq-100 Index ®, the Russell 2000 ®Index and the S&P 500 ® Index(each, a “Reference Asset” and together, the “Reference Assets”). The Notes provide 131.00% leveraged participation in the positive return of the Least Performing Reference Asset if the value of each Reference Asset increases from its Initial Value to its Final Value. The “Least Performing Reference Asset” is the Reference Asset with the lowest “Percentage Change”, which is the percentage increase or decrease of a Reference Asset from its Initial Value to its Final Value. Investors will receive their Principal Amount at maturity if the Final Value of the Least Performing Reference Asset is equal to or less than its Initial Value and equal to or greater than 90.00% of its Initial Value, which we refer to as the Buffer Value. If, however, the Final Value of the Least Performing Reference Asset is less than its Buffer 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 in excess of 10.00% (the “Buffer Percentage”), and may lose up to 90.00% of the Principal Amount of the Notes. Specifically, 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 in excess of the Buffer Percentage, and may lose up to 90.00% of the Principal Amount of the Notes. Any payment on the Notes are subject to our credit risk.

| Investors are exposed to the market risk of each Reference Asset on                                                                                                                                                                            
 the Final Valuation Date and any decline in