Every 424B that Toronto Dominion Bank (TD) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow TD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TD filings page.
The Toronto-Dominion Bank is offering unsecured Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100 Technology Sector, Russell 2000 Index and S&P 500 Index. The Notes target a contingent interest rate of approximately 10.15% per year, paid monthly only when on each observation date all three indexes are at or above 70% of their initial levels. TD may, at its discretion, redeem the Notes in whole on monthly call dates starting with the third interest payment date, returning principal plus any due interest, after which no further payments are made.
If the Notes are not called, principal at maturity depends on the least performing index on the final valuation date. If all three indexes are at or above 55% of initial, investors receive full principal (plus any due interest). If any index is below 55% of initial, repayment is reduced one-for-one with that index’s loss, up to a total loss of principal. The Notes will not be listed, are subject to TD’s credit risk, and have an estimated initial value between $945 and $980 per $1,000 note, below the public offering price.
The Toronto-Dominion Bank is issuing unsecured Digital Barrier Notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. Each Note has a $1,000 principal amount, a digital return of 30.45%, and matures on January 31, 2030.
At maturity, investors receive $1,000 plus 30.45% if the final value of every index is at or above its barrier, set at 65% of its initial level. If any index finishes below its barrier, repayment is reduced 1% for each 1% decline of the worst-performing index from its initial value, down to a possible total loss of principal. The Notes pay no interest, are not listed on an exchange, and all payments depend on TD’s credit. The public offering price is $1,000 per Note, with an estimated value of $939.10 per Note at pricing.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the Nasdaq-100, Russell 2000 and EURO STOXX 50 indexes. The Notes pay a contingent coupon at a per annum rate of 9.20%, credited quarterly only when on each observation date all three indexes are at or above 55% of their initial levels. TD can redeem the Notes in whole, but not in part, on any quarterly call date at par plus any due interest, ending all future payments.
If the Notes are not called and on the final valuation date any index closes below its 55% barrier, the maturity payment is reduced one-for-one with the decline of the worst-performing index, and investors can lose up to all of their principal. The estimated initial value is expected between $955 and $990 per $1,000 Note, and the Notes will not be listed, limiting liquidity. All payments depend on TD’s credit.
The Toronto-Dominion Bank is offering senior unsecured market-linked securities tied to the common stock of ServiceNow, Inc. These $1,000 face-amount notes pay a quarterly contingent coupon only if the stock closes at or above a coupon threshold set at 60% of the starting price; the annualized contingent coupon rate will be at least 9.70%.
From May 2026 through November 2028, the notes are auto-callable at par plus the coupon if the stock closes at or above the starting price on a calculation day. If not called, at maturity on February 9, 2029 investors receive $1,000 only if the final stock price is at or above the same 60% downside threshold. Below that level, repayment is reduced in line with the stock’s decline and investors can lose more than 40%, up to all, of principal.
The securities are estimated to be worth $915–$950 per $1,000 at pricing, reflecting selling costs and hedging. They are not FDIC- or CDIC-insured, are not listed on any exchange, and all payments depend on TD’s credit.
The Toronto-Dominion Bank is offering senior unsecured Performance Leveraged Upside Securities (“PLUS”) linked to the shares of the Energy Select Sector SPDR Fund. The notes mature on May 5, 2027 and pay no coupons.
At maturity, if the fund’s final share price is above the initial share price, holders receive $1,000 plus 300% of the fund’s positive return, capped at a maximum payment of $1,285 per $1,000, a maximum gain of 28.50%. If the final share price is equal to the initial level, investors receive only the $1,000 principal amount.
If the final share price is below the initial share price, investors lose 1% of principal for every 1% decline and may lose their entire investment. The PLUS do not provide any dividends or periodic interest and all payments are subject to TD’s credit risk. The notes will not be listed on any exchange. The estimated value on the pricing date is expected to be between $935.00 and $970.00 per $1,000 PLUS, reflecting selling commissions and TD’s internal funding rate.
The Toronto-Dominion Bank is offering Capped Contingent Absolute Return Buffered Notes linked to the S&P 500® Index. Each Note has a $1,000 principal amount, a Pricing Date of January 29, 2026, and a scheduled Maturity Date of February 1, 2029.
At maturity, if the index is above its initial level, holders receive the principal plus the index gain, capped at a Maximum Upside Redemption Amount of $1,251.50 per Note (a maximum gain of 25.15%). If the index is at or below the initial level but at or above 75.00% of it (the Buffer Value), investors earn a positive “contingent absolute return” equal to the absolute value of the index move, up to 25.00%.
If the index closes below 75.00% of its initial level, investors lose 1% of principal for each 1% index decline beyond the 25.00% buffer and can lose up to 75.00% of principal. The Notes pay no interest, are unsecured senior debt of TD, will not be listed, and any payment is subject to TD’s credit risk. The estimated value on the pricing date is expected between $950.00 and $985.00 per Note, versus a public offering price of $1,000.00, with an underwriting discount of $7.50 and proceeds to TD of $992.50 per Note.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the S&P 500® Index. The Notes target a contingent interest rate of approximately 7.30% per annum, paid monthly only when the index closing value is at or above 70% of the initial level. TD can, in its discretion, call the Notes in whole on quarterly call dates starting with the twelfth interest payment date, returning the $1,000 principal per Note plus any due interest.
If the Notes are not called and the S&P 500® closes on the final valuation date at or above 70% of the initial level, investors receive full principal back plus any due interest. If the final index level is below this barrier, repayment is reduced dollar-for-dollar with the index decline, and up to 100% of principal can be lost. The Notes are expected to price at a public offering price of $1,000 with an estimated value between $945 and $980, will not be listed on any exchange, and all payments depend on TD’s credit.
The Toronto-Dominion Bank is offering senior unsecured market-linked securities tied to the common stock of ServiceNow, Inc., maturing on February 2, 2029, in $1,000 denominations. These auto-callable notes pay a contingent quarterly coupon only if ServiceNow’s stock on each calculation day is at or above a coupon threshold set at 60% of the starting price. The contingent coupon rate will be set on the pricing date at no less than 9.70% per annum.
From April 2026 through October 2028, if the stock is at or above the starting price on a calculation day, the notes are automatically called for $1,000 plus that quarter’s coupon. If not called, principal is protected at maturity only if the final stock price is at or above the downside threshold, also 60% of the starting price. Below that level, repayment falls in line with the stock’s decline and investors can lose more than 40%, up to all principal.
The notes are senior unsecured obligations of TD, not insured by CDIC or FDIC, and will not be listed on any exchange. The estimated value on the pricing date is expected between $915.00 and $950.00 per $1,000 security, below the original offering price, reflecting fees, hedging costs and TD’s internal funding rate. Agents’ discounts are $23.25 per security, with $976.75 in proceeds to TD.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500. The notes pay a contingent interest rate of approximately 12.05% per annum, but only if on each monthly observation date all three indices are at or above 70% of their initial levels. If any index is below its barrier on an observation date, no interest is paid for that month.
TD can call the notes monthly starting on the third interest payment date, returning the $1,000 principal per note plus any due interest, after which no further amounts are owed. If the notes are not called and any index finishes below 70% of its initial level at maturity in July 2027, investors lose 1% of principal for each 1% decline in the worst-performing index and can lose the entire principal. The notes are unsecured TD obligations, are not insured, will not be listed, and had an estimated value of $988.50 per $1,000 at pricing versus a $1,000 public offering price, with total proceeds to TD of $3,330,326 on a $3,337,000 issue.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index. Each $1,000 Note targets a contingent interest rate of approximately 10.10% per annum, paid monthly only if on each observation date all three indexes are at or above 70% of their initial values.
TD may call the Notes monthly starting with the third interest payment date, returning the $1,000 principal plus any due interest, after which no further payments are made. If the Notes are not called and, on the final valuation date, any index is below 65% of its initial level, repayment of principal is reduced in line with the decline of the worst-performing index and can fall to zero.
The Notes’ estimated value at pricing was $981 per $1,000 Note, below the public offering price, and they will not be listed on any exchange. All payments depend on TD’s credit and the product has complex risk and tax characteristics described in the accompanying documents.
The Toronto-Dominion Bank is offering Step Down Autocallable Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. Each Note has a $1,000 principal amount, with a total initial offering of $4,000,000, and an issue price of $1,000 per Note, less a $2.50 underwriting discount.
The Notes can be automatically called on scheduled observation dates from January 2027 through January 2029 if each index is at or above its call threshold. The annualized call rate is 8.80%, producing fixed call premiums from $88 on the first call date up to $264 on the final valuation date, for maximum repayment of $1,264 per Note if called at maturity.
If the Notes are never called and at least one index finishes below its barrier level (60% of its initial value), repayment at maturity is reduced dollar-for-dollar with the decline in the worst-performing index, down to possible loss of the entire principal. The Notes pay no interest, are unsecured senior debt of TD, are not bail‑inable or insured, and any payments depend on TD’s credit. The estimated value on the pricing date is $981.60 per Note, below the public offering price.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the least-performing of the Nasdaq-100® Technology Sector, Russell 2000® Index and S&P 500® Index. The Notes pay a monthly contingent interest at an annual rate of approximately 9.95% only if, on each observation date, every index is at or above 75% of its initial level; otherwise no interest is paid for that period.
TD can, at its discretion, call the Notes in whole on monthly call dates starting with the sixth interest payment date, returning the $1,000 principal per Note plus any due interest. If the Notes are not called, principal repayment at the November 1, 2030 maturity depends on the worst index: if all are at or above 60% of initial, investors receive $1,000 plus any interest; if any is below 60%, repayment is reduced one-for-one with the percentage decline of the worst index, up to a total loss of principal.
The Notes are not listed, subject to TD’s credit risk, and have an estimated initial value between $920 and $955 per $1,000 Note, below the public offering price. They feature complex payoff, market, liquidity and tax risks and are described as inappropriate for non-U.S. holders.
The Toronto-Dominion Bank is offering STEP Income Securities linked to the common stock of Apple Inc. The notes have a principal amount of $10 per unit, a term of approximately one year and one week, and pay 8.00% per year in quarterly interest. At maturity in February 2027, investors receive the $10 principal plus a Step Payment of $0.10 to $0.50 per unit if Apple’s ending stock price is at or above 108.00% of the Starting Value.
If Apple’s ending price is below the Step Level but at or above the Threshold Value of 100.00% of the Starting Value, investors receive only their $10 principal plus interest. If it falls below the Threshold Value, repayment of principal is reduced 1‑for‑1 with Apple’s decline and can be as low as zero. The notes are senior unsecured debt of TD, include a $0.15 per unit underwriting discount and a $0.05 per unit hedging-related charge, and have an initial estimated value between $9.247 and $9.547 per unit.
The Toronto-Dominion Bank is offering Capped Buffered Notes linked to the S&P 500® Index, providing equity-linked exposure with limited upside and partial downside protection. Each Note has a $1,000 principal amount, a maturity in August 2027, and does not pay interest.
At maturity, if the index is above its initial level, investors receive the principal plus the index gain, capped at a Maximum Redemption Amount of $1,173.50 per Note, a maximum return of 17.35%. If the index is at or below its initial level but no more than 15% lower, investors receive only their principal back. Below this 15% buffer, losses increase 1:1 and investors can lose up to 85% of principal. The estimated value on the pricing date is expected between $955 and $990 per Note, the Notes are unsecured obligations of TD, will not be listed, and carry complex tax and liquidity risks.
The Toronto-Dominion Bank is offering capped buffered notes linked to the Russell 2000® Index that expose investors to equity market performance with principal at risk. Each Note has a $1,000 principal amount, a 20% downside buffer, and a Maximum Redemption Amount of $1,169.50, which caps the maximum gain at 16.95% at maturity in May 2027.
If the index finishes above its initial level, investors receive the lesser of full index upside or the cap; if it finishes between 80% and 100% of the initial level, they receive only their principal back. Below 80%, losses increase 1% for each additional 1% index decline, up to an 80% loss of principal. The Notes pay no interest, are unsecured senior debt subject to TD’s credit risk, will not be listed, and are expected to have an initial estimated value between $960.00 and $995.00 per $1,000 Note, below the public offering price.
The Toronto-Dominion Bank is issuing unsecured senior Callable Contingent Interest Barrier Notes linked to the worst performer of the Russell 2000® Index and the S&P 500® Index. The Notes pay a contingent coupon at a 9.30% per annum rate, but only for months when the closing value of both indices is at or above 65.00% of their Initial Values. If either index is below this barrier on an observation date, no interest is paid for that period.
TD can, at its discretion, call the Notes in whole on monthly dates starting with the third interest payment date, returning the $1,000 principal per Note plus any due interest, after which no further payments are made. If the Notes are not called and, on the Final Valuation Date, each index is at or above 65.00% of its Initial Value, investors receive full principal back plus any earned interest. If any index finishes below its 65.00% barrier, repayment is reduced one-for-one with the decline of the worst-performing index, and investors can lose up to their entire principal. The estimated value on the pricing date is $992.10 per $1,000 Note, they will not be listed on an exchange, and tax treatment is complex.
The Toronto-Dominion Bank is offering capped buffered notes linked to the Russell 2000 Index. Each Note has a $1,000 principal amount, a 15.00% downside buffer and a maximum payment of $1,168.00 (116.80% of principal) at maturity in February 2027.
If the index finishes above the initial level of 2,645.361, investors receive the lesser of full index participation or the $1,168.00 cap. If the final value is between 85.00% and 100% of the initial value, principal is returned. Below the 85.00% buffer level of 2,248.5569, investors lose 1% of principal for each additional 1% index drop, up to an 85.00% loss.
The Notes pay no interest, are unsecured senior debt of TD, will not be listed on an exchange and depend on TD’s credit. The estimated value on the pricing date was $992.60 per Note, below the $1,000.00 public offering price, and the issuer highlights limited liquidity, complex pricing and uncertain U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The Notes pay contingent monthly interest at approximately 8.15% per annum only if, on each observation date, all three indices are at or above 60% of their initial levels; otherwise no interest is paid for that month.
TD can, at its discretion, call the Notes monthly starting on the sixth interest payment date, returning the $1,000 principal per Note plus any due interest, with no further payments afterward. If the Notes are not called and, at maturity in January 2029, any index is below 60% of its initial level, investors lose 1% of principal for each 1% decline in the worst-performing index, up to a total loss of principal.
The Notes are unsecured senior debt of TD, not insured by any government agency and will not be listed on an exchange. The public offering price is $1,000 per Note, with estimated value of $975.90 and net proceeds to TD of $993 per Note, reflecting fees, hedging costs and TD’s internal funding rate. The tax treatment is complex and may differ from conventional debt.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the SPDR S&P 500 ETF Trust. Each Note has a $1,000 principal amount, a scheduled maturity on January 25, 2029, and pays a 6.00% per annum contingent interest rate, evaluated semiannually. Interest is paid only if, on the observation date, SPY’s closing value is at or above the Contingent Interest Barrier Value of $406.548, which is 60% of the $677.58 Initial Value.
TD may, at its discretion, call the Notes in whole on any semiannual call date (other than maturity), paying back the $1,000 principal plus any due contingent interest, after which no further payments are made. If the Notes are not called and SPY’s final value on the valuation date is at or above the same 60% Barrier Value, holders receive full principal back (plus any interest that is due). If the final value is below the barrier, repayment is reduced one-for-one with SPY’s decline from the Initial Value and investors can lose up to their entire principal.
The Notes are unsecured senior debt of TD, not insured deposits, and will not be listed on an exchange. The total public offering is $475,000, and the estimated value on the pricing date was $976 per Note, below the $1,000 public offering price, reflecting structuring, distribution, and hedging costs.
The Toronto-Dominion Bank is offering senior unsecured Autocallable Contingent Interest Barrier Notes linked to the least performing of American Electric Power (AEP), NVIDIA (NVDA) and Palo Alto Networks (PANW). The Notes target a contingent interest rate of approximately 22.40% per annum, paid monthly only if on each observation date every stock is at or above its contingent interest barrier, set at 70.00% of its initial value.
The Notes may be automatically called monthly starting July 21, 2026 if each stock is at or above 100.00% of its initial value; in that case investors receive the $1,000 principal per Note plus any contingent interest then due, and the product terminates. If not called and on the final valuation date any stock finishes below its 70.00% barrier, repayment of principal is reduced one-for-one with the decline of the worst performer, down to a total loss. The estimated value at pricing was $921.80 per $1,000 Note, below the public offering price, and any payments depend entirely on TD’s creditworthiness.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes with Memory Interest linked to Dow Inc. common stock. Each Note has a $1,000 principal amount and offers a contingent interest rate of 15.60% per annum, paid quarterly only if Dow’s closing price on the observation date is at or above the contingent interest barrier of 65.00% of the initial value, with missed coupons potentially caught up later under the memory feature.
The Notes are automatically called if Dow closes at or above 100.00% of the initial value ($28.41) on any call observation date, in which case investors receive principal plus any due and unpaid interest and no further payments. If the Notes are not called and Dow finishes below the 65.00% barrier ($18.4665) at final valuation, investors receive the physical delivery amount of 35.1989 Dow shares per Note, which can result in a loss up to 100% of principal. The Notes are unsecured obligations of TD, not insured deposits, and had an estimated value of $957.80 per $1,000 Note at pricing.
The Toronto-Dominion Bank is offering $3,600,000 of Callable Contingent Income Securities, Series H, linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500, maturing on January 25, 2028.
Each $1,000 security can pay a contingent quarterly coupon of $21.25 (8.50% per annum) only if on every trading day in the quarter all three indices stay at or above 60.00% of their initial index values. If any index closes below its coupon threshold even once in a quarter, no coupon is paid for that period.
TD may call the notes in whole on any quarterly payment date (except final) at $1,000 plus any due coupon. If the notes are not called and any index finishes below 60.00% of its initial value at final observation, repayment is reduced 1-to-1 with the worst index’s loss and can fall to zero. The securities are senior unsecured obligations of TD, not listed on an exchange, and their estimated value at pricing was $976.70 per $1,000, below the issue price due to fees and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured Contingent Income Auto-Callable Securities due January 31, 2028, linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each $1,000 security pays a contingent quarterly coupon of $23.125 (equivalent to 9.25% per annum) only if on the relevant determination date all three indices are at or above 75.00% of their initial index values.
Starting with the second determination date, the notes are auto‑callable if all indices are at or above 100.00% of their initial values, in which case investors receive $1,000 plus the coupon and the notes terminate. If the notes are not called and at maturity any index is below 75.00% of its initial value, repayment of principal is reduced 1‑for‑1 with the decline of the worst index, and the payment can fall to zero. The estimated value on the pricing date is expected to be $935.00–$970.00 per $1,000, the securities will not be listed, and all payments are subject to TD’s credit risk.
The Toronto-Dominion Bank is offering senior unsecured structured Notes linked to the common stock of T-Mobile US, Inc. The Notes have a principal amount of $1,000 per Note (minimum investment $10,000) and aggregate initial proceeds to TD of $752,400 on a $760,000 public offering. They run for about 54 weeks, with a scheduled maturity on February 3, 2027, but can be automatically called on quarterly Review Dates if T-Mobile’s share price is at or above the $186.32 Initial Price.
Investors may receive Contingent Interest Payments of $25 per $1,000 when the stock is at or above the Barrier Price of $127.4429 (68.40% of the Initial Price), with a “memory” feature that can pay previously missed coupons. Principal is at risk: if the Notes are not called and the Final Price is below the Barrier, repayment is reduced one-for-one with the stock’s decline from the Initial Price, down to a total loss. The estimated value on the pricing date is $980.50 per Note, below the $1,000 public offering price. The Notes are unsecured, not insured, will not be listed on an exchange, and involve complex liquidity, conflict of interest and tax risks, including possible 30% U.S. withholding on Contingent Interest Payments for certain non-U.S. holders.
The Toronto-Dominion Bank is issuing $6,428,000 of Trigger Performance Leveraged Upside Securities linked to the S&P 500® Index, maturing on February 4, 2032. Each Trigger PLUS has a $1,000 stated principal amount, pays no coupon, and offers 120.35% leveraged upside when the final index value is above the initial index value, capped at a maximum payment of $1,850 per note (an 85.00% maximum gain).
If the final index value is less than or equal to the initial index value but at or above the trigger level of 5,899.0085 (85.00% of the 6,940.01 initial index value), investors receive only the $1,000 principal. If the final index value is below the trigger level, repayment is reduced point-for-point with the index decline and can fall to zero, so principal is fully at risk. All payments depend on TD’s credit, and the estimated value on the pricing date is $954.30 per note versus the $1,000 issue price, reflecting fees and structuring costs.
The Toronto-Dominion Bank is offering senior unsecured equity-linked notes tied to the worst performer among Broadcom, Alphabet Class A, Meta Platforms and NVIDIA, maturing on January 19, 2029. The notes are issued in $1,000 denominations with a total offering of $4,156,000.
Holders can receive a 15.75% per annum contingent coupon, paid monthly only if the lowest-performing stock on each calculation day closes at or above 50% of its starting price. Missed coupons may be paid later under a “memory” feature if that condition is later met. From April 2026 to December 2028, the notes are automatically called at par plus due and unpaid coupons if the lowest-performing stock is at or above its starting price.
If not called, principal is protected only if the lowest-performing stock on the final calculation day is at or above its 50% downside threshold. Otherwise, investors lose more than half, up to all, of principal. The estimated value at pricing was $922.80 per $1,000, and all payments are subject to TD’s credit risk, with no listing or deposit insurance.
The Toronto-Dominion Bank is offering senior unsecured notes linked to T-Mobile US, Inc. stock with an initial public offering totaling $470,000. Each Note has a $1,000 principal amount and a term of about 54 weeks, with automatic call features and contingent interest payments of $25.00 per $1,000 if the TMUS share price is at or above a defined barrier on specified review dates. If the Notes are called, investors receive principal plus due and previously unpaid contingent interest, and no further payments. If the Notes are not called and the final average TMUS price is below the barrier, repayment of principal is reduced dollar-for-dollar with the stock’s decline from the initial price, and investors can lose their entire investment. The estimated value on the pricing date is $985.20 per Note, lower than the $1,000 public offering price, and there may be little or no secondary market. Payments are subject to TD’s credit risk and complex U.S. and Canadian tax treatment, including potential 30% U.S. withholding on contingent interest for non-U.S. holders.
The Toronto-Dominion Bank is offering unsecured Senior Debt Securities, Series H, linked to the S&P 500® Index, with a scheduled maturity on February 18, 2027. The notes have a $1,000 principal amount (minimum investment $1,000) and an initial aggregate size of $6,710,000. They pay no interest.
The initial index level is 6,940.01. If, on the valuation date, the S&P 500® is at or above 90.00% of this level (the threshold level of 6,246.009), investors receive a fixed Threshold Settlement Amount of $1,082.80 per $1,000 note, an 8.280% maximum return. If the index finishes below the threshold, repayment is reduced using a downside multiplier of approximately 1.1111, so losses are amplified and investors can lose their entire principal.
The notes are unsecured obligations of TD, not insured by any deposit insurer, and will not be listed on an exchange, so liquidity may be limited. The public offering price is $1,000 per note, including an underwriting discount of $10.90, with proceeds to TD of $989.10 per note. TD’s initial estimated value is $986.10 per $1,000 note, reflecting structuring, distribution and hedging costs, and any payments are subject to TD’s credit risk.
The Toronto-Dominion Bank is offering senior unsecured structured notes that pay no interest and mature on March 10, 2028, about 26 months after the January 22, 2026 issue date. The payoff depends on an unequally weighted equity basket of five indices: EURO STOXX 50 (38%), TOPIX (26%), FTSE 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%).
At maturity, investors receive $1,000 plus 300% of the basket’s percentage gain, but the return is capped at $1,398.10 per $1,000 (a 39.81% maximum gain). If the basket is flat, investors get back $1,000. If the basket falls, investors lose 1% of principal for every 1% decline and can lose the entire investment.
The notes are not principal protected, are not insured by any deposit insurance scheme, and will not be listed on an exchange, so liquidity may be limited. They are subject to TD’s credit risk. The initial estimated value is $989.80 per $1,000, below the public offering price, reflecting embedded costs and dealer compensation. The filing also highlights complex U.S. and Canadian tax treatment and multiple risk factors, including market volatility, basket composition, and conflicts of interest in hedging and calculation.
The Toronto-Dominion Bank is offering senior unsecured Step Down Autocallable Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the S&P 500 Index. Each Note has a $1,000 principal amount, a Pricing Date on January 22, 2026 and a scheduled Maturity Date on January 25, 2029, unless automatically called earlier.
The Notes can be automatically called on specified observation dates if all three indices are at or above their Call Threshold Values. Call Prices range from $1,088 per Note on the first Call Observation Date up to $1,264 per Note on the Final Valuation Date, reflecting an annual Call Rate of 8.80%. If the Notes are never called and at least one index finishes below its Barrier Value (60% of its Initial Value), repayment at maturity is reduced dollar-for-dollar with the decline of the worst-performing index, and investors can lose their entire principal. The estimated initial value is between $950 and $985 per Note, and the Notes pay no periodic interest, are not insured and are subject to TD’s credit risk.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes with Memory Interest linked to Arista Networks, Inc. common stock. Each Note has a $1,000 principal amount and offers a 16.11% per annum contingent interest rate, paid quarterly only if on the observation date the stock’s Closing Value is at or above the Contingent Interest Barrier Value of $82.888, which is 65.00% of the $127.52 Initial Value. Missed interest can be paid later if the barrier is met, under the Memory Interest feature.
The Notes are automatically called if on any Call Observation Date the stock closes at or above the $127.52 Call Threshold Value, in which case investors receive principal plus any due and unpaid contingent interest, and no further payments. If not called and on the Final Valuation Date the stock is below the Barrier Value of $82.888, repayment is reduced dollar-for-dollar with the stock’s percentage decline, and investors may lose their entire principal. The estimated value is $959.50 per Note, below the $1,000 public offering price. The Notes are unsecured senior debt of TD, will not be listed, and payments depend on TD’s credit.
The Toronto-Dominion Bank is offering callable contingent interest barrier notes linked to the worst performer of the Russell 2000® and S&P 500® indices. Each note has a $1,000 principal amount and pays a contingent coupon at a 9.30% per annum rate, but only if on the monthly observation date both indices are at or above 65.00% of their initial values. TD can redeem the notes in whole on monthly call dates starting with the third interest payment date, returning principal plus any due interest and ending all future payments.
If the notes are not called and on the final valuation date either index is below its 65.00% barrier, repayment of principal is reduced one-for-one with the decline of the worst-performing index, down to a possible 100% loss. The estimated value on the pricing date is expected between $960.00 and $995.00 per note, below the $1,000 public offering price, and investors face TD’s unsecured credit risk and limited secondary market liquidity.
The Toronto-Dominion Bank is offering unsecured Senior Debt Securities called Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each Note has a $1,000 principal amount and a term to July 27, 2027.
The Notes pay a contingent coupon at an annual rate of approximately 12.05%, but only for months when the closing value of each index is at or above 70% of its initial level. If any index is below its 70% barrier on an observation date, no interest is paid for that month.
TD may, at its discretion, call all of the Notes on monthly dates starting with the third interest payment date, returning the $1,000 principal plus any due interest, after which no further payments are made. If the Notes are not called and on the final valuation date any index finishes below 70% of its initial level, repayment of principal is reduced one-for-one with the decline of the worst-performing index, and investors can lose their entire investment. The Notes are not bank deposits, are not insured by CDIC or FDIC, will not be listed, and their estimated initial value is expected between $955 and $990 per Note, below the $1,000 public offering price.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes linked to the worst performer among Apple, Amazon and NVIDIA common stock. The Notes target a contingent interest rate of approximately 13.85% per year, paid monthly only when on each observation date all three stocks are at or above 60% of their initial values. If any stock is below this barrier on an observation date, no interest is paid for that month.
The Notes can be automatically called monthly starting in April 2026 if, on a call observation date, all three stocks are at or above 100% of their initial values; in that case, holders receive $1,000 principal per Note plus any due interest, and the product terminates early. If the Notes are not called and, on the final valuation date, any stock is below 50% of its initial value, repayment of principal is reduced one-for-one with the decline of the worst-performing stock, down to a possible total loss. Payments depend on TD’s credit. The public offering price is $1,000 per Note, with an estimated value on the pricing date between $890 and $925 and limited expected secondary market liquidity.
The Toronto-Dominion Bank is offering Capped Buffered Notes linked to the Russell 2000® Index. Each Note has a $1,000 principal amount and runs from a January 26, 2026 issue date to a February 25, 2027 maturity date. Investors participate one-for-one in index gains, but the maximum redemption amount is capped at $1,168 per Note, limiting upside to a 16.8% maximum return.
The Notes provide a 15% downside buffer: principal is repaid at maturity if the index loss is within that range. Below the buffer, investors lose 1% of principal for each additional 1% index decline, with losses up to 85% of principal. The Notes pay no interest, are unsecured senior debt of TD, will not be listed on an exchange, and all payments depend on TD’s creditworthiness.
The estimated value on the pricing date is expected between $960 and $995 per Note, less than the $1,000 public offering price, reflecting structuring, distribution and hedging costs. The filing highlights limited liquidity, potential conflicts of interest in TD’s roles as issuer, calculation agent and hedger, and significant U.S. and Canadian tax uncertainties, including possible alternative tax treatments.
The Toronto-Dominion Bank is offering complex senior unsecured Autocallable Contingent Interest Barrier Notes linked to the least performing of Amazon, NVIDIA and Tesla stock. The Notes target a high contingent interest rate of approximately 19.85% per annum, paid monthly only if on each observation date all three stocks close at or above 50% of their initial levels.
The Notes are automatically called if, on a call observation date, all three stocks are at or above 100% of their initial values, in which case investors receive principal plus that period’s interest and the product terminates early. If the Notes are never called and on the final valuation date any stock finishes below 50% of its initial value, maturity payment is reduced one-for-one with the worst stock’s decline, up to a total loss of principal.
The offering price is $1,000 per Note with a $7 underwriting discount, while the initial estimated value is expected between $920 and $955, reflecting fees, hedging and TD’s internal funding rate. The Notes are not listed, may have limited liquidity, carry TD’s credit risk and involve uncertain U.S. tax treatment.
The Toronto-Dominion Bank is offering unsecured Callable Contingent Interest Barrier Notes linked to the SPDR® S&P 500® ETF Trust, in $1,000 denominations. The Notes pay a 6.00% per annum contingent interest semiannually only when the ETF’s closing value on an observation date is at or above the Contingent Interest Barrier of $406.548, which is 60% of the $677.58 Initial Value.
TD may, at its discretion, call the Notes in whole on any semiannual call date, paying back principal plus any due contingent interest, after which no further payments are owed. If the Notes are not called, and on the Final Valuation Date the ETF is at or above the same 60% barrier, investors receive the full $1,000 principal per Note; if it is below, repayment is reduced 1% for each 1% decline from the Initial Value, up to a total loss of principal.
The Notes are not listed, are subject to TD’s credit risk, and are not insured by any government agency. The estimated value on the pricing date is expected to be between $945.00 and $980.00 per $1,000 Note, below the public offering price, reflecting selling costs, hedging and TD’s internal funding rate. The U.S. tax treatment is uncertain, with TD and holders agreeing to treat the Notes as prepaid derivative contracts for federal income tax purposes.
The Toronto-Dominion Bank is issuing autocallable fixed interest barrier notes linked to Apple, Amazon, Alphabet and Microsoft common stock. Each $1,000 Note pays fixed monthly interest of $8.583, corresponding to an annual rate of approximately 10.30%, until the Notes are automatically called or reach maturity.
The Notes will be automatically called on a monthly observation date if the closing value of each stock is at or above its Call Threshold Value, set at 100.00% of its Initial Value (AAPL $255.53, AMZN $239.12, GOOGL $330.00, MSFT $459.86). If called, investors receive $1,000 plus the scheduled interest, and the Notes terminate.
If the Notes are not called and on the Final Valuation Date any stock finishes below its Barrier Value, set at 60.00% of its Initial Value (for example AAPL $153.318 and MSFT $275.916), investors receive the Physical Delivery Amount of the worst-performing stock instead of principal, exposing them to losses up to 100% of their investment. The offering size is $3,400,000 at a public price of $1,000 per Note, with proceeds to TD of $967.368 per Note and an estimated initial value of $936.20 per Note. The Notes are unsecured obligations of TD, will not be listed, and carry detailed U.S. and Canadian tax, liquidity and credit risks.
The Toronto-Dominion Bank is offering 2,247,546 Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500® Index at $10 per unit, for a total public offering price of $22,475,460. These senior unsecured notes can be automatically called on any of six annual Observation Dates if the Index is at or above the Starting Value of 6,944.47.
If called, investors receive preset Call Amounts ranging from $10.762 on the first Observation Date up to $14.572 on the final Observation Date. If never called and the Index ends below the Threshold Value (equal to the Starting Value), repayment of principal is reduced 1‑for‑1 with the Index loss, putting up to 100% of principal at risk.
The notes pay no periodic interest, have an initial estimated value of $9.688 per unit, include a $0.20 per‑unit underwriting discount and a $0.05 hedging-related charge, and all payments depend on TD’s credit. The notes are not insured by CDIC, FDIC or any other government agency and will not be listed on an exchange.
The Toronto-Dominion Bank is offering 4,894,062 Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index, each with a $10 principal amount, for total public offering proceeds of $48,924,261. The notes can be automatically called after roughly one, two, or three years if the index is at or above the starting level of 6,944.47 on an Observation Date, paying fixed call amounts of $10.865, $11.730, or $12.595 per unit, respectively.
If the notes are never called and the index ends below the Threshold Value (equal to the starting level), investors are exposed to 1-to-1 downside and can lose up to 100% of principal. The notes pay no periodic interest, are unsecured senior debt subject to TD’s credit risk, and are not insured by any government agency. The initial estimated value is $9.721 per unit, below the $10 public price, reflecting dealer compensation, a $0.20 per-unit underwriting discount, a $0.05 hedging-related charge, and TD’s internal funding rate.
The Toronto-Dominion Bank is offering 1,519,363 structured notes linked to the EURO STOXX 50® Index, each with a $10 principal amount, for total proceeds before expenses of about $14.9 million after underwriting discounts. These senior unsecured notes can be automatically called after roughly one, two or three years if the index is at or above the starting level of 6,041.14 on an observation date, paying $11.125, $12.250 or $13.375 per unit, respectively. If the notes are never called and the index ends below the starting (and threshold) level, investors lose principal on a 1‑for‑1 basis, up to a total loss. The notes pay no periodic interest, carry TD’s credit risk, and have an initial estimated value of $9.719 per unit, below the $10 public offering price, reflecting dealer discounts, hedging charges and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured structured Notes linked to the common stock of T-Mobile US, Inc. The Notes have a Principal Amount of $1,000 each, a term of approximately 54 weeks and may be automatically called on quarterly Review Dates if the T-Mobile share price is at or above the Initial Price of $186.32.
Holders can receive a Contingent Interest Payment of $25.00 per $1,000 Note on each Review Date if the T-Mobile price is at or above the Barrier Price of $127.4429, with unpaid interest amounts potentially paid later under a “Memory Interest” feature. If the Notes are not called and the Final Price (an average over five Averaging Dates) is below the Barrier Price, principal is reduced 1% for each 1% decline from the Initial Price, up to a total loss of principal.
The Notes are not insured, will not be listed on an exchange, and all payments depend on TD’s credit. The estimated value on the Pricing Date is expected to be between $955.00 and $990.00 per $1,000 Note, less than the $1,000 public offering price, and investors face liquidity, pricing, conflict-of-interest and complex U.S. and Canadian tax risks.
The Toronto-Dominion Bank is issuing senior unsecured Capped Buffered Notes linked to the S&P 500 Index, maturing on January 19, 2029. Each Note has a $1,000 principal amount and offers unleveraged upside to the index, capped at a Maximum Redemption Amount of $1,360.50 (a maximum gain of 36.05%).
At maturity, investors receive $1,000 if the index is flat or down by up to 20% from the Initial Value of 6,940.01. If the S&P 500 falls more than 20%, principal is reduced 1% for each additional 1% decline, with losses up to 80%. The Notes pay no interest and all payments depend on TD’s credit.
The public offering price is $1,000 per Note, with a $7.50 selling commission, and TD’s estimated value at pricing was $982.90 per Note. The Notes will not be listed, may have limited secondary liquidity, involve complex U.S. and Canadian tax treatment, and are not insured by any government agency.
The Toronto-Dominion Bank is issuing leveraged barrier notes linked to the worst performer of the Russell 2000® Index and the S&P 500® Index. Each note has a $1,000 principal amount, a pricing date of January 16, 2026 and matures on January 22, 2031.
If both indices finish above their initial levels, holders receive the principal plus 138.15% of the gain of the worst-performing index. If any index is at or below its initial level but both stay at or above 65% of initial (the barrier), investors receive only the $1,000 principal. If any index finishes below its barrier, repayment is reduced one-for-one with the decline of the worst-performing index, and principal can be fully lost.
The notes pay no interest, are unsecured senior debt of TD and are not insured by any deposit insurer. The public offering price is $1,000 per note, with an underwriting discount of $6 and proceeds to TD of $994 per note, for a total initial offering of $1,901,000. The bank’s estimated value at pricing was $967.90 per note, below the public offering price, reflecting structuring and hedging costs.
The Toronto-Dominion Bank offers senior unsecured Leveraged Barrier Notes linked to the worst performer of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index. The Notes provide 215.00% leveraged upside on the positive return of the least performing reference asset if both finish above their Initial Values on the Valuation Date.
Investors receive only their $1,000 principal per Note if any reference asset is at or below its Initial Value but each stays at or above a 65.00% barrier of its Initial Value. If any reference asset finishes below its barrier, repayment is reduced one-for-one with the decline of the least performing asset, down to a potential total loss of principal. The Notes pay no interest, are not insured, and all payments are subject to TD’s credit risk.
The initial offering size is $2,452,000, at a public offering price of $1,000 per Note, including a $6.00 underwriting discount. TD estimates the initial value at $959.50 per Note, below the offering price, reflecting structuring and hedging costs and its internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the SPDR® S&P 500® ETF Trust (SPY), with a Principal Amount of $1,000 per Note and a total initial offering of $1,435,000. The Notes pay a contingent interest rate of 7.00% per annum, payable semiannually, but only if on each observation date SPY’s closing value is at least 70.00% of the Initial Value, set at $692.24. The same 70.00% level, $484.568, also acts as the barrier for principal repayment at maturity.
TD can, at its discretion, call the Notes in whole on any semiannual call date (other than maturity), returning $1,000 per Note plus any due contingent interest, after which no further payments are made. If the Notes are not called and, on the final valuation date in January 2029, SPY is at or above the barrier, investors receive their full principal plus any contingent interest. If SPY is below the barrier, repayment is reduced 1% for each 1% decline from the Initial Value, up to a complete loss of principal.
The Notes are unsecured obligations subject to TD’s credit risk and will not be listed on any exchange. The public offering price is $1,000 per Note, including a $15 underwriting discount, while the estimated value on the pricing date was $978.30 per Note, reflecting structuring and hedging costs and TD’s internal funding rate.
The Toronto-Dominion Bank is offering Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index at a public offering price of $10 per unit. The initial estimated value on the pricing date is expected between $9.285 and $9.585 per unit, reflecting embedded fees and hedging costs.
The notes have a term of about three years and may be automatically called on observation dates around 2027, 2028 and 2029 if the S&P 500 is at or above the starting level. If called, investors receive $10 plus a call premium, with indicative call amounts ranging from about $10.725–$10.825 on the first observation date up to about $12.175–$12.475 on the final observation date.
If the notes are never called and the index ends below the threshold (100% of the starting value), repayment is reduced 1‑for‑1 with the index decline, putting up to 100% of principal at risk. The notes pay no periodic interest, are unsecured senior debt of TD, and all payments depend on TD’s creditworthiness.
The Toronto-Dominion Bank is issuing $871,000 of callable contingent interest barrier notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes. The notes offer a 7.80% per annum contingent interest, paid monthly only when all three indexes close at or above 70% of their initial levels on the observation date. TD can, at its discretion, call the notes in whole starting with the sixth interest date, paying back principal plus any due interest, after which no further payments are made.
If the notes are not called and on the final valuation date any index finishes below 70% of its initial level, repayment of principal is reduced one-for-one with the decline of the worst-performing index, and investors can lose their entire $1,000 per note. The notes are unsecured TD debt, not insured, will not be listed on any exchange, and secondary market liquidity may be limited. The estimated value at pricing was $950.80 per $1,000 note, below the public offering price, reflecting structuring, distribution and hedging costs.
The Toronto-Dominion Bank is offering senior unsecured Autocallable Contingent Interest Barrier Notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The Notes target a contingent interest rate of approximately 10.25% per annum, paid monthly only if on each observation date all three indices are at or above 70% of their initial values. The Notes may be called automatically each month starting April 26, 2026 if all indices are at or above 100% of their initial values, in which case investors receive the $1,000 principal per Note plus any due interest and the Notes terminate early.
If the Notes are not called and on the final valuation date any index is below its 70% barrier, repayment of principal is reduced 1% for each 1% decline of the worst-performing index, down to possible full loss of principal. The estimated initial value is between $940 and $975 per $1,000, the minimum investment is $1,000, the expected maturity date is December 30, 2027, and all payments are subject to TD’s credit risk. The Notes will not be listed, and tax treatment is complex, with TD and investors agreeing to treat them as prepaid derivative contracts for U.S. tax purposes.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the worst performer of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. The Notes target an 8.25% per annum contingent interest, paid monthly only when each index is at or above 70% of its Initial Value on the observation date.
TD can redeem the Notes in whole, at its discretion, on monthly dates starting with the third interest payment date, returning the $1,000 principal per Note plus any due interest, after which no further payments are made. If the Notes are not called and on the final valuation any index is below 60% of its Initial Value, repayment is reduced one-for-one with the decline of the worst-performing index, and investors can lose up to their entire principal.
The Notes are unsecured obligations subject to TD’s credit risk and will not be listed on an exchange. The initial public offering price is $1,000 per Note, with total offering proceeds of $399,000 to TD before hedging, and the bank’s estimated initial value is $976.70 per Note, below the offering price.