Company: TDBCP
Filing Date: 2025-10-01
Form Type: 424B2
Source: 0001140361-25-036922
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-01
Form: 424B2
Chunk 14
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 coupons after approximately three months. In the event that the TD elects to redeem the securities at its discretion prior to        
 maturity, there is no guarantee that you will be able to reinvest the proceeds from an investment in the securities at a comparable rate of return for a similar level of risk. Further, TD’s right to redeem the securities at its discretion may 
 also adversely impact your ability to sell your securities in the secondary market. It is more likely that TD will elect to redeem the securities prior to maturity when the expected contingent quarterly coupons payable on the securities are   
 greater than the interest that would be payable on other instruments issued by TD of comparable maturity, terms and credit rating trading in the market. The greater likelihood of TD electing to redeem the securities in that environment        
 increases the risk that you will not be able to reinvest the proceeds from the redeemed securities in an investment with a similar level of risk and yield. To the extent you are able to reinvest such proceeds in an investment comparable to    
 the securities, you may incur transaction costs such as dealer discounts and hedging costs built into the price of the new securities. TD is less likely to elect to redeem the securities prior to maturity when the expected contingent          
 quarterly coupons payable on the securities are less than the interest that would be payable on other comparable instruments issued by TD, which includes when the value of any underlying index is less than its coupon threshold level.          
 Therefore, the securities are more likely to remain outstanding when the expected amount payable on the securities is less than what would be payable on other comparable instruments and when your risk of not receiving a contingent quarterly   
 coupon is relatively higher.                                                                                                                                                                                                                       |

| ■ | An investment in securities with contingent quarterly coupon and optional early redemption features may be more sensitive to interest rate risk than an investment in securities without such features.Because of the issuer call and contingent quarterly coupon features of the securities, you will bear greater exposure to fluctuations in interest rates than if you purchased securities without such features. In particular, you may be 
 negatively affected if prevailing interest rates begin to rise as discussed in the preceding risk factor, and the contingent quarterly coupon rate on the securities may be less than the amount of interest you could earn on other investments                                                                                                                                                                                                 
 with asimilarlevel of risk available at such time. In addition, if you tried to sell your securities at such time, the value of your securities in any secondary market transaction would also be                                                                                                                                                                                                                                                
 adversely affected. Conversely, in the event that prevailing interest rates are low relative to the contingent quarterly