Company: TDBCP
Filing Date: 2025-01-10
Form Type: 424B2
Source: 0001140361-25-000785
Chunk: 5

Company: TORONTO DOMINION BANK
Filing Date: 2025-01-10
Form: 424B2
Chunk 5
---
 Dates (including the Final Review Date). Any payment on the Notes will be based on the Closing Level of the Least Performing Reference Asset only on the Review Dates (including the Final Review Date). Even if the level of the Least Performing Reference Asset appreciates prior to a Review Date but then drops on that day to a Closing Level that is less than its Initial Level or Step-Down Call Level, respectively, on the relevant Review Date, you will not receive the applicable Call Premium on the corresponding Call Payment Date. Similarly, the Payment at Maturity may be significantly less than it would have been had the Notes been linked to the Closing Level of the Least Performing Reference Asset on a date other than the Review Date, and may be zero. Although the actual levels of the Reference Assets at other times during the term of the Notes may be higher than the values on one or more Review Dates (including the Final Review Date), any Contingent Interest Payments on the Notes and the Payment at Maturity will be based solely on the Closing Level of the Least Performing Reference Asset on the applicable Review Date (including the Final Review Date). Your Return May Be Less than the Return on a Conventional Debt Security of Comparable Maturity. The return that you will receive on your Notes, which could be negative, may be less than the return you could earn on other investments. The Notes do not provide for any interest payments and you may not receive any Call Premium on the Notes. Even if you do receive the applicable Call Premium and 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 of comparable maturity. Your investment may not reflect the full opportunity cost to you when you take into account factors that affect the time value of money. The Notes May Be Automatically Called Prior to the Maturity Date And Are Subject to Reinvestment Risk. If your Notes are automatically called, no further payments will be owed to you under the Notes after the applicable Call Payment Date. Therefore, because the Notes could be called as early as the first potentialCall Payment Date, the holding period could be limited. Because the Call Premium and Call Price increase the longer the Notes remain outstanding, if the Notes are called prior to the Final Review Date, your return on the Notes may be less than it would have been had the Notes remained outstanding. Additionally, there is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return for a similar level of risk in