Company: TDBCP
Filing Date: 2025-12-12
Form Type: 424B2
Source: 0001140361-25-045344
Chunk: 3

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-12
Form: 424B2
Chunk 3
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ion Bank and its subsidiaries. We reserve the right to change the terms of, or reject any offer to purchase, the Notes prior to their issuance. In the event of any changes to the terms of the Notes, we will notify you and you will be asked to accept such changes in connection with your purchase. You may also choose to reject such changes, in which case we may reject your offer to purchase.

| TD SECURITIES (USA) LLC | P-4 |

Additional Risk Factors The Notes involve risks not associated with an investment in conventional debt securities. This section describes the most significant risks relating to the terms of the Notes. For additional information as to these and other risks, please see “Additional Risk Factors Specific to the Notes” in the product supplement and “Risk Factors” in the prospectus. Investors should consult their investment, legal, tax, accounting and other advisors as to the risks entailed by an investment in the Notes and the suitability of the Notes in light of their particular circumstances. RisksRelating to Return Characteristics Principal at Risk. Investors in the Notes could lose up to 90.00% of their investment in the Notes. Specifically, if the Final Value is less than the Buffer Value, investors will lose 1% of the Principal Amount of the Notes for each 1% that the Final Value is less than the Initial Value in excess of the Buffer Amount, and may lose up to 90.00% of their Principal Amount. The Notes Do Not Pay Interest and Your Return on the Notes May Be Less Than the Return on a Conventional Debt Security of Comparable Maturity. There will be no periodic interest payments on the Notes as there would be on a conventional fixed-rate or floating-rate debt security having a comparable maturity. The return that you will receive on the Notes, which could be negative, may be less than the return you could earn on other investments. Even if your return on the Notes is positive, your return may be less than the return you would earn if you bought a conventional, interest-bearing senior debt security of TD. Your Potential Return on the Notes Is Fixed and Limited to the Digital Return and You Will Not Participate in Any Appreciation in the Value of the Reference Asset. Your potential return on the Notes is fixed and is limited to the Digital Return. You will receive the Digital Return only if the Final Value is greater than or equal to the Initial Value. You will not participate in any appreciation of the Reference Asset even though you will be exposed to the downside market risk of the Reference Asset