Company: TDBCP
Filing Date: 2025-04-28
Form Type: 424B2
Source: 0001140361-25-016068
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-04-28
Form: 424B2
Chunk 9
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 notes and receiving the payments that might 
 be due under the notes.                                                                                                                                                                                                                      |

| Accelerated Return Notes® | TS-7 |

Additional Risk Factors Adverse conditions in the aerospace and defense sector may reduce your return on the notes. The aerospace and defense sector may be significantly affected by changes in government regulations and spending policies, changes in economic conditions and industry consolidation as well as geopolitical events and other factors that interact in complex and unpredictable ways. Adverse developments in the aerospace and defense sector may have an adverse effect on the value of the Underlying Fund and, as a result, on the value of, and return on, the notes. All of the securities held by the Underlying Fund are concentrated in one sector. All of the securities held by the Underlying Fund are issued by companies in the aerospace and defense sector. As a result, the securities that will determine the performance of the notes are concentrated in one sector. Although an investment in the notes will not give holders any ownership or other direct interests in the securities held by the Underlying Fund, the return on an investment in the notes will be subject to certain risks associated with a direct equity investment in companies in this sector. Accordingly, by investing in the notes, you will not benefit from the diversification which could result from an investment linked to securities of a more broadly diversified group of issuers. A limited number of equity securities held by the Underlying Fund may affect its price. As of April 23, 2025, the top three equity securities held by the Underlying Fund constituted 44.27% of the total weight of the Underlying Fund. Given this concentration, any reduction in the market price of those securities is likely to have a substantial adverse impact on the price of the Underlying Fund and the value of, and return on, the notes.

| Accelerated Return Notes® | TS-8 |

The Underlying Fund All disclosures contained in this term sheet regarding the Underlying Fund, including, without limitation, its make-up, method of calculation, and changes in its components, have been derived from publicly available sources. The information reflects the policies of, and is subject to change by, BlackRock Fund Advisors, the advisor to the Underlying Fund (the “sponsor” or “BFA”). The sponsor has no obligation to continue to publish, and may discontinue publication of, the Underlying Fund. The consequences of the sponsor discontinuing publication of the Underlying Fund are discussed in the section entitled “Description of ARNs —Anti-Dilution and