Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 40

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 40
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 the return on the Notes and the price at which you can sell such Notes. For further information regarding these types of determinations, see “Description of the
Notes—Principal, Interest and Maturity”.

The Bank may redeem the Notes in certain situations.

The Bank may elect to redeem the Notes, or the Notes may be automatically redeemed, without the consent of the Noteholders in the circumstances
described under “Description of the Notes—Redemption” and “Description of Series 33 Shares—Redemption”. If the Bank redeems the Notes in any of the circumstances mentioned above, there is a risk that the Notes may
be redeemed at times when the redemption proceeds are less than the current market value of the Notes or when prevailing interest rates may be relatively low, in which latter case investors may only be able to reinvest the redemption proceeds in
securities with a lower yield. Potential investors should consider reinvestment risk in light of other investments available at the time and consider potential uncertainty with respect to both the rate of interest payable on the Notes, which may
fluctuate, and with respect to the length of the remaining term of the Notes, which will be dependent upon whether or not the Notes are redeemed prior to their maturity.

The Bank may redeem the Series 33 Shares at its option in certain situations.

The Bank may elect to redeem the Series 33 Shares without the consent of the holders of the Series 33 Shares in the circumstances described
under “Description of Series 33 Shares–Redemption”. In addition, the redemption of Series 33 Shares is subject to the consent of the Superintendent and other restrictions contained in the Bank Act and the regulations and guidelines
thereunder, including the CAR Guideline. See “Description of Common Shares and Preferred Shares—Limitations Affecting Holders of Common Shares and Preferred Shares—Bank Act Restrictions and Restrictions on Payment of
Dividends” in the accompanying base prospectus, and “Description of Series 33 Shares—Restriction on Dividends and Retirement of Shares” in this prospectus supplement. In the event of the redemption of the Series 33 Shares,
outstanding Notes with an aggregate principal amount equal to the aggregate face amount of the Series 33 Shares redeemed will be automatically redeemed.

The Bank reserves the right not to deliver Common Shares upon a Contingent Conversion and subsequent delivery of the Corresponding Limited Recourse Trust Assets (being Common Shares) to the holders of Notes.

Upon a Contingent Conversion and subsequent delivery of the Corresponding
Limited Recourse