<SEC-DOCUMENT>0001140361-25-045231.txt : 20251211
<SEC-HEADER>0001140361-25-045231.hdr.sgml : 20251211
<ACCEPTANCE-DATETIME>20251211125936
ACCESSION NUMBER:		0001140361-25-045231
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251211
DATE AS OF CHANGE:		20251211

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TORONTO DOMINION BANK
		CENTRAL INDEX KEY:			0000947263
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		EIN:				135640479
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-283969
		FILM NUMBER:		251564187

	BUSINESS ADDRESS:	
		STREET 1:		66 WELLINGTON STREET WEST
		STREET 2:		12TH FLOOR, TD TOWER
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M5K 1A2
		BUSINESS PHONE:		416-944-6367

	MAIL ADDRESS:	
		STREET 1:		66 WELLINGTON STREET WEST
		STREET 2:		12TH FLOOR, TD TOWER
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M5K 1A2

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TORONTO DOMINION BANK
		CENTRAL INDEX KEY:			0000947263
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		EIN:				135640479
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		66 WELLINGTON STREET WEST
		STREET 2:		12TH FLOOR, TD TOWER
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M5K 1A2
		BUSINESS PHONE:		416-944-6367

	MAIL ADDRESS:	
		STREET 1:		66 WELLINGTON STREET WEST
		STREET 2:		12TH FLOOR, TD TOWER
		CITY:			TORONTO, ONTARIO
		STATE:			A6
		ZIP:			M5K 1A2
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>ef20061062_fwp.htm
<DESCRIPTION>ISSUER FREE WRITING PROSPECTUS
<TEXT>
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              <div><img width="57" height="48" src="image0.jpg"></div>
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              <div style="text-align: right; font-size: 7pt;">ISSUER FREE WRITING PROSPECTUS</div>
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              <div style="text-align: right; font-size: 7pt;">Filed Pursuant to Rule 433</div>
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            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: right; font-size: 7pt;">Registration Statement No. 333-283969</div>
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            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: right; font-size: 7pt;">Dated December 11, 2025</div>
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      </table>
      <div style="text-align: justify; color: rgb(41, 109, 193); font-size: 8pt;">Callable Contingent Income Securities with Daily Coupon Observation due December 23, 2027</div>
      <div style="text-align: justify; color: rgb(41, 109, 193); font-size: 8pt;">Based on the Worst Performing of the Nasdaq-100 Index<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup>, the Russell 2000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Index and the S&amp;P 500<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Index</div>
      <div style="text-align: justify; color: rgb(128, 128, 128); font-size: 7pt; font-weight: bold;">Principal at Risk Securities</div>
      <div style="text-align: justify; color: rgb(255, 0, 0); font-size: 7pt; font-style: italic; font-weight: bold;">This document provides a summary of the terms of the Callable Contingent Income Securities (the &#8220;securities&#8221;). Investors should carefully
        review the accompanying preliminary pricing supplement for the securities, the accompanying product supplement, the underlier supplement and the prospectus, as well as the &#8220;Risk Considerations&#8221; section below, before making an investment decision.</div>
      <div style="text-align: justify; font-size: 7pt; font-weight: bold;">The securities do not guarantee any return of principal at maturity. Investors will not participate in any appreciation of any underlying index and must be willing to accept the
        risk of not receiving any contingent quarterly coupons over the term of the securities. The securities are senior debt securities issued by The Toronto-Dominion Bank (&#8220;TD&#8221;), and all payments on the securities are subject to the credit risk of TD.
        As used in this document, &#8220;TD,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221; refers to The Toronto-Dominion Bank and its subsidiaries.</div>
    </div>
    <div class="BRPFTCL" style="float: left; width: 50%;">
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        <table cellspacing="0" cellpadding="1" border="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z04c37c08fb3a41b69c84982b154258ef">

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              <td colspan="3" rowspan="1" style="vertical-align: top; background-color: rgb(41, 109, 193); border-left: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; margin-right: 1.45pt; margin-top: 1pt; color: rgb(255, 255, 255); font-size: 6.5pt;">SUMMARY TERMS</div>
              </td>
            </tr>
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              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Issuer:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">The Toronto-Dominion Bank</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Issue:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">Senior Debt Securities, Series H</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Underlying indices:</div>
              </td>
              <td colspan="2" style="vertical-align: middle; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0); font-weight: normal;">
                <div style="text-align: justify; font-size: 6.5pt;">Nasdaq-100 Index<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> (Bloomberg Ticker: &#8220;NDX&#8221;)</div>
                <div style="text-align: justify; font-size: 6.5pt;">Russell 2000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Index (Bloomberg Ticker: &#8220;RTY&#8221;)</div>
                <div style="text-align: justify; font-size: 6.5pt;">S&amp;P 500<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> Index (Bloomberg Ticker: &#8220;SPX&#8221;)</div>
              </td>
            </tr>
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              <td nowrap="nowrap" style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Stated principal amount:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">$1,000.00 per security</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Minimum Investment:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">$1,000.00 (1 security)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Pricing date:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">December 19, 2025</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Original issue date:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">December 24, 2025 (3 business days after the pricing date; see preliminary pricing supplement).</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Final observation period</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> end-date:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">December 20, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Maturity date:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">December 23, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Optional early</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> redemption:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; margin-top: 1pt; margin-bottom: 1pt; font-size: 6.5pt; font-weight: normal;">TD may elect, on or before any applicable observation period end-date (other than the final observation date), to redeem the
                  securities at its discretion in whole, but not in part (an &#8220;issuer call&#8221;), on the contingent coupon payment date corresponding to such observation period end-date (the &#8220;redemption date&#8221;), regardless of the index closing values of the
                  underlying indices on such observation period end-date. If TD elects to redeem the securities prior to maturity, the securities will be redeemed for an amount per security equal to the early redemption payment on the redemption date. No
                  further payments will be made on the securities once they have been redeemed. TD may elect to redeem the securities at its sole discretion regardless of the performance of the underlying indices.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Early redemption</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> payment:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">The early redemption payment will be an amount equal to (i) the stated principal amount plus (ii) any contingent quarterly coupon with respect to the applicable
                  quarterly observation period.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Contingent quarterly</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> coupon:</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(41, 109, 193); font-size: 6.5pt; font-style: normal; font-variant: normal; text-transform: none;">
                <div>&#9632;</div>
              </td>
              <td style="width: 73%; vertical-align: top; border-right: 1px solid rgb(0, 0, 0); font-weight: normal;">
                <div style="text-align: justify; font-size: 6.5pt;">If the index closing values of all of the underlying indices on each trading day during the applicable quarterly observation period are greater than or equal to their respective coupon
                  threshold levels, we will pay a contingent quarterly coupon of $21.10 (equivalent to 8.44% per annum of the stated principal amount) per security on the related contingent coupon payment date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(41, 109, 193); font-size: 6.5pt; font-style: normal; font-variant: normal; text-transform: none;">
                <div>&#9632;</div>
              </td>
              <td style="width: 73%; vertical-align: top; border-right: 1px solid rgb(0, 0, 0); font-weight: normal;">
                <div style="text-align: justify; font-size: 6.5pt;">If the index closing value of any underlying index on any trading day during the applicable quarterly observation period is less than its coupon threshold level, we will not pay a
                  contingent quarterly coupon with respect to that quarterly observation period.</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Observation period end-</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">dates:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-trading days and certain market disruption events as
                  described in the accompanying product supplement.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Quarterly observation</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> period:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">The first quarterly observation period will consist of each trading day from but excluding the pricing date to and including the first observation period end-date.
                  Each subsequent quarterly observation period will consist of each trading day from but excluding an observation period end-date to and including the next following observation period end-date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Contingent coupon</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> payment dates:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">Quarterly (as set forth on the cover of the preliminary pricing supplement), subject to postponement for non-business days and certain market disruption events as
                  described in the accompanying product supplement.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Payment at maturity:</div>
              </td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-size: 6.5pt; font-style: normal; font-variant: normal; text-transform: none;">
                <div>&#9632;</div>
              </td>
              <td style="width: 73%; vertical-align: top; border-right: 1px solid rgb(0, 0, 0); font-weight: normal;">
                <div style="text-align: justify; font-size: 6.5pt;">If the final index values of all of the underlying indices are greater than or equal to their respective downside threshold levels:</div>
                <div style="text-align: justify; margin-left: 12pt; font-size: 6.5pt;">(i) the stated principal amount <font style="font-style: italic;">plus</font> (ii) any contingent quarterly coupon otherwise payable with respect to the final quarterly
                  observation period</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">&#160;</td>
              <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-size: 6.5pt; font-style: normal; font-variant: normal; text-transform: none;">
                <div>&#9632;</div>
              </td>
              <td style="width: 73%; vertical-align: top; border-right: 1px solid rgb(0, 0, 0); font-weight: normal;">
                <div style="text-align: justify; font-size: 6.5pt;">If the final index value of any underlying index is less than its downside threshold level:</div>
                <div style="text-align: justify; margin-left: 12.25pt; font-size: 6.5pt;">(i) the stated principal amount<font style="font-style: italic;"> plus</font> (ii) the stated principal amount <font style="font-style: italic;">times</font> the
                  underlying return of the worst performing underlying index</div>
                <div style="text-align: justify; font-size: 6.5pt;">If the final index value of any underlying index is less than its downside threshold level, the payment at maturity will be less than 65.00% of the stated principal amount and could be as
                  low as zero.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Underlying return:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">(final index value &#8211; initial index value) / initial index value</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Worst performing</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> underlying index:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">The underlying index with the lowest underlying return</div>
              </td>
            </tr>
            <tr>
              <td nowrap="nowrap" style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Coupon threshold level*:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">With respect to each underlying index, 65.00% of its initial index value. The actual coupon threshold levels will be determined on the pricing date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Downside threshold</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> level*:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">With respect to each underlying index, 65.00% of its initial index value. The actual downside threshold levels will be determined on the pricing date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Initial index value*:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">With respect to each underlying index, the closing level of such underlying index on the pricing date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Final index value*:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">With respect to each underlying index, the closing level of such underlying index on the final observation period end-date.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">CUSIP / ISIN:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">89115LBS6 / US89115LBS60</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Listing:</div>
              </td>
              <td colspan="2" style="vertical-align: top; border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">The securities will not be listed or displayed on any securities exchange or any electronic communications network.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0);">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt; font-weight: bold;">Commission:</div>
              </td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; font-size: 6.5pt; font-weight: normal;">$20.00 per stated principal amount</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; border-left: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Estimated value on the</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> pricing date:</div>
              </td>
              <td colspan="2" style="vertical-align: middle; border-right: 1px solid rgb(0, 0, 0);">
                <div style="font-size: 6.5pt; font-weight: normal;">Expected to be between $930.00 and $965.00 per security. See &#8220;Risk Factors&#8221; in the preliminary pricing supplement.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top; background-color: rgb(219, 229, 241); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); font-weight: bold;">
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;">Preliminary pricing</div>
                <div style="color: rgb(41, 109, 193); font-size: 6.5pt;"> supplement</div>
              </td>
              <td colspan="2" style="vertical-align: middle; background-color: rgb(219, 229, 241); border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="font-size: 6.5pt; font-weight: normal;">
                  <div style="color: rgb(0, 0, 255);"><a href="https://www.sec.gov/Archives/edgar/data/947263/000114036125045222/ef20061063_424b2.htm">http://www.sec.gov/Archives/edgar/data/947263/000114036125045222/ef20061063_424b2.htm</a></div>
                </div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div class="BRPFTCR" style="float: right; width: 48%;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5fd15ef263154e0cb0364ce466308fc6">

            <tr>
              <td style="width: 100%; vertical-align: top; background-color: #296DC1; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: justify; margin-top: 1pt; margin-bottom: 1pt; color: rgb(255, 255, 255); font-size: 8pt; font-weight: bold;">HYPOTHETICAL PAYOUT</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; margin-top: 1pt; font-size: 7.5pt;">The below figures are based on a hypothetical downside threshold level of 65.00% of the hypothetical initial index value of the worst performing underlying index and are purely
          hypothetical (the actual terms of your security will be determined on the pricing date and will be specified in the final pricing supplement).</div>
        <div style="margin-top: 1pt; margin-bottom: 1pt; color: rgb(41, 109, 193); font-size: 8pt; font-weight: bold;">Hypothetical Payment at Maturity if No Early Redemption Occurs</div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd76469243f9d4c1f8dc2db5ae9d9b0d1">

            <tr>
              <td style="width: 49.99%; vertical-align: middle; background-color: #DBE5F1; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="margin: 1pt 0px 0px; font-size: 7.5pt; font-weight: bold; text-align: center;">Change in Worst Performing</div>
                <div style="margin: 0px 0px 1pt; font-size: 7.5pt; font-weight: bold; text-align: center;"> Underlying Index</div>
              </td>
              <td style="width: 50.01%; vertical-align: middle; background-color: #DBE5F1; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="margin: 1pt 0px 0px; font-size: 7.5pt; font-weight: bold; text-align: center;">Payment at Maturity (excluding any</div>
                <div style="font-size: 7.5pt; font-weight: bold; text-align: center;"> contingent quarterly coupon payable at</div>
                <div style="font-size: 7.5pt; font-weight: bold; text-align: center;"> maturity)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">+50.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">+40.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">+30.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">+20.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">+10.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">0.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-10.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-20.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-30.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; background-color: #DBE5F1; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt; font-weight: bold;">-35.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; background-color: #DBE5F1; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt; font-weight: bold;">$1,000.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-36.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$640.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-40.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$600.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-50.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$500.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-60.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$400.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-70.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$300.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-80.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$200.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-90.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$100.00</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.99%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">-100.00%</div>
              </td>
              <td style="width: 50.01%; vertical-align: top; border-left: #000000 1px solid; border-right: #000000 1px solid; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
                <div style="text-align: center; margin-top: 1pt; margin-bottom: 1pt; font-size: 7.5pt;">$0.00</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="clear: both;">
      <table cellspacing="0" cellpadding="0" border="0" id="z22da623bea8b40f487e61866dca78961" style="font-family: Arial; font-size: 9pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 100.00%;"><br>
            </td>
          </tr>

      </table>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="margin: 3pt 0px 0px; width: 100%; color: #000000; font-family: Arial; font-size: 9pt; text-align: left;" class="DSPFListTable" id="z81d9f0966b0b4e1ea15db1c1c5e147ca">

        <tr>
          <td style="width: 9.35pt; vertical-align: top; font-size: 6pt;">*</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 6pt;">Each as determined by the calculation agent and as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 9pt; margin-bottom: 9pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">A-1</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="font-size: 7.5pt; text-align: justify;">You will find a link to the accompanying preliminary pricing supplement for the securities above and links to the accompanying product supplement, underlier supplement and prospectus for the
      securities under &#8220;Additional Information About TD and the Securities&#8221; in the preliminary pricing supplement, which you should read and understand prior to investing in the securities.</div>
    <div style="text-align: justify; margin-top: 1pt; font-size: 7.5pt;">The issuer has filed a registration statement (including a prospectus as supplemented by an underlier supplement, product supplement and the preliminary pricing supplement) with the
      Securities and Exchange Commission (the &#8220;SEC&#8221;) for the offering to which this communication relates. Before you invest, you should read the accompanying prospectus in that registration statement and the other documents the issuer has filed with the
      SEC, including the accompanying preliminary pricing supplement, product supplement and underlier supplement, for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website
      at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free at 1-855-303-3234. Our Central Index Key, or CIK, on the SEC website
      is 0000947263.</div>
    <div style="text-align: justify; margin-top: 1pt; color: rgb(41, 109, 193); font-size: 10pt; font-weight: bold;">Risk Considerations</div>
    <div style="text-align: justify; margin-top: 1pt; font-size: 7.5pt;">The risks set forth below are discussed in more detail in the &#8220;Risk Factors&#8221; section in the preliminary pricing supplement. Please review those risk factors carefully prior to making
      an investment decision.</div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to Return Characteristics</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z402ba2a5f61d407a87c53be289b496ff">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Risk of significant loss at maturity</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbe71f2bf8fbe40618923047b9f1f9ac2">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Contingent repayment of stated principal amount only at maturity.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zea5fd2817acb4f7b976236ce42b8c7da">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">You may not receive any contingent quarterly coupons.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze47d569168124683a741be7e9e0fd0a5">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Greater expected volatility with respect to, and lower expected correlation of, the underlying indices generally reflects a higher contingent quarterly coupon and a higher expectation as of
                the pricing date that the index closing value of any of the underlying indices could be less than its downside threshold level.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z15afe74384e94786a622dcad72d2c45d">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">TD may elect to redeem the securities at its discretion and the securities are subject to reinvestment risk</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1443ffe1026a4c4a8d848cee22236391">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">An investment in securities with contingent quarterly coupon and optional early redemption features may be more sensitive to interest rate risk than an investment in securities without such
                features.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za6e8f6f971b841f193ca6571b283ce20">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The contingent quarterly coupon, if any, is based solely on the index closing value of each underlying index on each trading day during the related quarterly observation period.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeb65d7ee010640a285705665ca9d9f87">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">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.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdc890c79db6b48eb8d3f99393f3f030b">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">You are exposed to the market risk of each underlying index.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdeccdc16605e44809821c1c2cdd04459">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">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.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to Characteristics of the Underlying Indices</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za641215709d24a44be435cb25cc376e4">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The level of each underlying index will be affected by various factors that interact in complex and unpredictable ways.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z96f777056fb246f789dca9619b13db45">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">There can be no assurance that the investment view implicit in the securities will be successful.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z073e3f6fdbf343b0bb23e5765572fa14">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The securities are subject to small-capitalization stock risks.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcc2f4c865c1246fb82da053d20c3f28d">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The underlying indices reflect price return, not total return.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zedd00fef0a9241399fd86a5f741c885e">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Changes affecting the underlying indices could have an adverse effect on the market value of, and any amount payable on, the securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4d9f7899e317436685d81bd970ee798f">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">There is no affiliation between the respective index sponsors and TD, and TD is not responsible for any disclosure by such.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to Estimated Value and Liquidity</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z56780f1e89ff4ab0bb383f3118feaae6">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The estimated value of your securities is expected to be less than the public offering price of your securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z27022c17e54d47dcb629da7f509d6da1">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The estimated value of your securities is based on our internal funding rate. The estimated value of your securities on the pricing date is determined by reference to our internal funding
                rate.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf42619cd29394875a58e6f9f00fbd6a6">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The estimated value of the securities is based on our internal pricing models, which may prove to be inaccurate and may be different from the pricing models of other financial institutions.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a1eef105d9e44ca997813a03bf55719">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The estimated value of your securities is not a prediction of the prices at which you may sell your securities in the secondary market, if any, and such secondary market prices, if any, will
                likely be less than the public offering price of your securities and may be less than the estimated value of your securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3ba2daf76ab548f8a7c57ed5e978e327">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The temporary price at which the agent may initially buy the securities in the secondary market may not be indicative of future prices of your securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z06d3298b48b94e1fbc968011cbf2d4ac">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The underwriting discount, offering expenses and certain hedging costs are likely to adversely affect secondary market prices.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z087196ee43c2422bb1bc0e1d732b8241">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">There may not be an active trading market for the securities &#8212; sales in the secondary market may result in significant losses.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5387ed9a3a1d475eb7b96492e61cf28a">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">If the value of an underlying index changes, the market value of your securities may not change in the same manner.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to General Credit Characteristics</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9c88dff8716f4cfbb9eb298b2e37dead">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Investors are subject to TD&#8217;s credit risk, and TD&#8217;s credit ratings and credit spreads may adversely affect the market value of the securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to Hedging Activities and Conflicts of Interest</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1181fa01c25b4ef58cea031528a1a1ab">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">There are potential conflicts of interest between you and the calculation agent.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z66f64abb753c43478d2fad97f76067e4">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">The observation period end-dates and related payment dates are subject to market disruption events and postponements</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf9e1f3acf86d4b4f8fd29d770f1eb20d">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Trading and business activities by TD or its affiliates may adversely affect the market value of, and any amounts payable on, the securities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 2pt; font-size: 7.5pt; font-style: italic; font-weight: bold;">Risks Relating to Canadian and U.S. Federal Income Taxation</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 9pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd697ed7b8b774da9b5923e3d911500a6">

          <tr>
            <td style="width: 9pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; font-size: 7.5pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(41, 109, 193); font-style: normal; font-variant: normal; text-transform: none;">&#9642;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 7.5pt;">Significant aspects of the tax treatment of the securities are uncertain.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-top: 1pt; color: rgb(41, 109, 193); font-size: 10pt; font-weight: bold;">Underlying Indices</div>
    <div style="text-align: justify; margin-top: 1pt; font-size: 7.5pt;">For information about the underlying indices, including historical performance information, see &#8220;Information About the Underlying Indices&#8221; in the preliminary pricing supplement.</div>
    <div> <br>
    </div>
    <div> <br>
    </div>
    <div style="text-align: center;"> <font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">A-2</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
