Company: TDBCP
Filing Date: 2025-10-20
Form Type: 424B2
Source: 0001140361-25-038595
Chunk: 14

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-20
Form: 424B2
Chunk 14
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 quarterly observation period.                                                                                                                                                        |

| ◾ | Your potential return on the securities is limited, you will not participate in any appreciation of the underlying indices and you will not realize a return beyond the returns represented by the contingent                                     
 quarterly coupons received, if any, during the term of the securities.The return potential of the securities is limited to the contingent quarterly coupons, regardless of the appreciation of the underlying indices. In addition,               
 your return on the securities will vary based on the number of quarterly observation periods on which the requirements of the contingent quarterly coupon have been met prior to maturity or an early redemption. Furthermore, if the securities  
 are redeemed prior to maturity, you will not receive any contingent quarterly coupons or any other payment in respect of any quarterly observation periods after the applicable contingent coupon payment date, and your return on the securities 
 could be less than if the securities remained outstanding until maturity. If the securities are not redeemed prior to maturity, you may be subject to the depreciation in the level of the worst performing underlying index even though you      
 cannot participate in any appreciation in the levels of the underlying indices. As a result, the return on an investment in the securities could be less than the return on a direct investment in any or all of the index constituent stocks.    |

| ◾ | You are exposed to the market risk of each underlying index.Your return on the securities is not linked to a basket consisting of the underlying indices. Rather, it will be contingent upon the                                                 
 performance of each underlying index. Unlike an instrument with a return linked to a basket of indices, common stocks or other underlying assets, in which risk is mitigated and diversified among all of the components of the basket, you will 
 be exposed equally to the risks related to each underlying index. Poor performance by any one underlying index may negatively affect your return and will not be offset or mitigated by the performance of any other underlying index.           
 Accordingly, your investment is subject to the market risk of each underlying index.                                                                                                                                                             |

| ◾ | Because the securities are linked to the performance of more than one underlying index, there is an increased probability that you will not receive a contingent quarterly coupon with respect to a quarterly                                    
 observation period and that you will lose a significant portion or all of your investment in the securities.The risk that you will not receive a contingent quarterly coupon with respect to a quarterly observation period and that             
 you will lose a significant portion or all of your investment in the securities is greater if you invest in the securities as opposed to securities that are