Company: TDBCP
Filing Date: 2025-05-27
Form Type: 424B2
Source: 0001140361-25-020471
Chunk: 9

Company: TORONTO DOMINION BANK
Filing Date: 2025-05-27
Form: 424B2
Chunk 9
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 on the extent to which the relevant non-U.S. currencies strengthen or
    weaken against the U.S. dollar and the relative weight of each non-U.S. Reference Asset Constituent. If, taking into account such weighting, the U.S. dollar strengthens against the relevant non-U.S. currencies, the value of such Reference Asset
    Constituent, and therefore the level of the Reference Asset, will be adversely affected and the value of, and any amount payable on, the Notes may decrease.

The U.K. Financial Conduct Authority and regulators from other countries are in the process of investigating the potential manipulation of published currency exchange rates. If such
    manipulation has occurred or is continuing, certain published exchange rates may have been, or may be in the future, artificially lower (or higher) than they would otherwise have been. Any such manipulation could have an adverse impact on any payment
    on, and the market value of, your Notes and the trading market for your Notes. In addition, we cannot predict whether any changes or reforms affecting the determination or publication of exchange rates or the supervision of currency trading will be
    implemented in connection with these investigations. Any such changes or reforms could also adversely impact your Notes.

The Notes Are Subject to Risks Associated with Non-U.S. Securities Markets.

The value of your Notes is linked to the Reference Asset and the Reference Asset Constituents, which are traded in one or more non-U.S. securities markets. Investments linked to the
    value of non-U.S. equity securities involve particular risks. Any non-U.S. securities market may be less liquid, more volatile and affected by global or domestic market developments in a different way than are the U.S. securities market or other
    non-U.S. securities markets. Both government intervention in a non-U.S. securities market, either directly or indirectly, and cross-shareholdings in non-U.S. companies, may affect trading prices and volumes in that market. Also, there is generally less
    publicly available information about non-U.S. companies than about those U.S. companies that are subject to the reporting requirements of the SEC. Further, non-U.S. companies are likely subject to accounting, auditing and financial reporting standards
    and requirements that differ from those applicable to U.S. reporting companies.

The prices of securities in a non-U.S. country are subject to political, economic, financial and social factors that are unique to such non-U.S. country's geographical region. These
    factors include: recent changes, or