Company: TDBCP
Filing Date: 2025-10-10
Form Type: 424B3
Source: 0001140361-25-037929
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-10
Form: 424B3
Chunk 9
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 in the Underlying Stock. |

Market Measure-Related Risks

| ◾ | The Underlying Company will have no obligations relating to the notes, and none of us, MLPF&S, BofAS or our or their respective affiliates will perform any due diligence procedures with respect to the Underlying Company in 
 connection with this offering.                                                                                                                                                                                                 |

| ◾ | You will have no rights of a holder of the Underlying Stock, or of a holder with a short position directly in the Underlying Stock and you will not be entitled to receive the Underlying Stock or dividends or other distributions by 
 the Underlying Company.                                                                                                                                                                                                                |

| ◾ | While we, MLPF&S, BofAS or our or their respective affiliates may from time to time own securities of the Underlying Company, we, MLPF&S, BofAS and our or their respective affiliates do not control the Underlying Company, and 
 have not verified any disclosure made by the Underlying Company.                                                                                                                                                                  |

| ◾ | The Redemption Amount will not be adjusted for all corporate events that could affect the Underlying Stock. See “Description of LIRNs—Anti-Dilution Adjustments” beginning on page PS-26 of product supplement STOCK LIRN-1. |

Valuation- and Market-Related Risks

| ◾ | The initial estimated value of your notes on the pricing date will be less than their public offering price. The difference between the public offering price of your notes and the initial estimated value of the notes reflects costs      
 and expected profits associated with selling and structuring the notes, as well as hedging our obligations under the notes (including, but not limited to, the hedging related charge, as further described under “Structuring the Notes” on 
 page TS-10). 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 loss and the amount of any such profit or 
 loss will not be known until the maturity date.                                                                                                                                                                                              |

| ◾ | The initial estimated value of your notes is based on our internal funding rate. The internal funding rate used in the determination of the initial estimated value of the notes generally represents a discount from the credit spreads     
 for our conventional fixed-rate debt securities and the borrowing rate we would pay for our conventional fixed-rate debt securities. This discount is based on, among other things, our view of the funding value of the notes as