Company: TDBCP
Filing Date: 2025-08-19
Form Type: 424B2
Source: 0001140361-25-031886
Chunk: 23

Company: TORONTO DOMINION BANK
Filing Date: 2025-08-19
Form: 424B2
Chunk 23
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UK PRIIPs Regulation”) for offering or selling the Buffered PLUS or otherwise making them available to retail investors in the UK 
 has been prepared and therefore offering or selling the Buffered PLUS or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.                                                        |
| Validity of the Buffered PLUS:         | In the opinion of Fried, Frank, Harris, Shriver & Jacobson LLP, as special products counsel to TD, when the Buffered PLUS offered by this pricing supplement have been                                                                           
 executed and issued by TD and authenticated by the trustee pursuant to the indenture and delivered, paid for and sold as contemplated herein, the Buffered PLUS will be valid and binding obligations of TD, enforceable against TD in           
 accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, receivership or other laws relating to or affecting creditors’ rights generally, and to general principles of      
 equity (regardless of whether enforcement is sought in a proceeding at law or in equity). This opinion is given as of the date hereof and is limited to the laws of the State of New York. Insofar as this opinion involves matters governed by  
 Canadian law, Fried, Frank, Harris, Shriver & Jacobson LLP has assumed, without independent inquiry or investigation, the validity of the matters opined on by McCarthy Tétrault LLP, Canadian legal counsel for TD, in its opinion              
 expressed below. In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and, with respect to the Buffered PLUS, authentication of the Buffered PLUS and the    
 genuineness of signatures and certain factual matters, all as stated in the opinion of Fried, Frank, Harris, Shriver & Jacobson LLP filed as Exhibit 5.3 to the registration statement on Form F-3 filed by TD on December 20, 2024.             
 In the opinion of McCarthy Tétrault LLP, the issue and sale of the Buffered PLUS has been duly authorized by all necessary corporate action on the part of TD, and when this                                                                     
 pricing supplement has been attached to, and duly notated on, the master note that represents the Buffered PLUS, the Buffered PLUS will have been validly executed and issued and, to the extent validity of the Buffered PLUS is a matter       
 governed by the laws of the Province of Ontario, or the laws of Canada applicable therein, will be valid obligations of TD, subject to the following