Company: TDBCP
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001140361-25-042456
Chunk: 10

Company: TORONTO DOMINION BANK
Filing Date: 2025-11-17
Form: 424B2
Chunk 10
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 or if an Index Sponsor discontinues or suspends calculation or publication of the applicable Reference Asset. If a Change in Law Event (as defined in the product supplement) occurs and the Index Sponsor does not take actions to comply with such law(s), the Calculation Agent may select a successor index or take other actions as discussed in the product supplement and, notwithstanding these adjustments, the market value of, and return on, the Notes may be adversely affected. The Nasdaq-100 Index ®, Russell 2000 ®Index and EURO STOXX 50 ®Index Reflects Price Return, not Total Return. The return on the Notes is based on the performance of the Nasdaq-100 Index ®, Russell 2000 ®Index and EURO STOXX 50 ®Index, which reflects the changes in the market prices of its Reference Asset Constituents. The Nasdaq-100 Index ®, Russell 2000 ®Index and EURO STOXX 50 ®Index is not a “total return” index or strategy, which, in addition to reflecting those price returns, would also reflect dividends paid on its Reference Asset Constituents. The return on the Notes will not include such a total return feature or dividend component. The Notes are Subject to Risks Associated with Small-Capitalization Companies. The Notes are subject to risks associated with small-capitalization companies because the Reference Asset Constituents of the Russell 2000 ®Index are considered small-capitalization companies. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization companies and therefore such index may be more volatile than an index in which a greater percentage of its constituents are issued by large-capitalization companies. Stock prices of small-capitalization companies are also more vulnerable than those of large-capitalization companies to adverse business and economic developments, and the stocks of small-capitalization companies may be thinly traded. In addition, small-capitalization companies are typically less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Small-capitalization companies are often given less analyst coverage and may be in early, and less predictable, periods of their corporate existences. Such companies tend to have smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less competitive strengths than large-capitalization companies and are more susceptible to adverse developments related to their products.

| TD SECURITIES (USA) LLC | P-9 |

The Notes are Subject to Currency Exchange