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 senior unsecured market-linked notes tied to the lowest performing of Amazon, Broadcom, Alphabet Class A and NVIDIA, maturing October 1, 2026. Each security has a $1,000 face amount and pays a 10.50% per annum contingent coupon monthly, but only if on the relevant calculation day the lowest-performing stock is at or above its coupon threshold price (60% of its starting price, set on December 30, 2025). Missed coupons can be paid later under a memory feature.
From March to August 2026, if on any calculation day the lowest-performing stock is at or above its starting price, the notes are automatically called at par plus the applicable contingent coupon and any unpaid coupons. If not called, at maturity investors receive $1,000 only if the lowest-performing stock is at or above its downside threshold (50% of starting price); otherwise repayment is reduced in line with that stock’s decline, and investors can lose more than 50%, up to their entire principal. The original offering price is $1,000 per security, with an estimated value of $958, reflecting selling costs, hedging and TD’s internal funding rate. The notes are not listed and all payments are subject to TD’s credit risk.
The Toronto-Dominion Bank is issuing senior unsecured Autocallable Contingent Interest Barrier Notes linked to Alphabet Inc. Class A common stock. The Notes offer a 10.91% per annum contingent interest, paid quarterly only when Alphabet’s closing price is at or above the Contingent Interest Barrier of $219.10, which is 70.00% of the $313.00 Initial Value.
The Notes are automatically called if Alphabet closes at or above $313.00 (100.00% of the Initial Value) on a Call Observation Date. If not called and Alphabet’s Final Value on the December 29, 2028 Final Valuation Date is below the $219.10 Barrier, investors receive the Physical Delivery Amount of 3.1949 GOOGL shares per Note (plus cash for fractions), which can result in substantial or total loss of principal. Maturity is on January 4, 2029. The public offering price is $1,000 per Note, while the estimated value at pricing was $964.80. The Notes will not be listed and all payments are subject to TD’s credit risk.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. Each Note has a $1,000 principal amount, a scheduled maturity on December 3, 2027, and pays a contingent interest rate of 11.10% per annum, payable monthly only if all three indices are at or above their respective contingent interest barriers, set at 70% of their initial levels.
TD may, at its discretion, call the Notes in whole on monthly call dates beginning with the third interest payment date, returning the $1,000 principal plus any due interest, after which no further amounts are paid. If the Notes are not called, principal repayment at maturity depends on the least performing index. If each final index level is at or above its 70% barrier, investors receive $1,000 plus any contingent interest; if any index finishes below its barrier, repayment is reduced one-for-one with the index’s percentage decline, potentially down to zero.
The Notes are unsecured obligations of TD, are not insured by any government agency, and will not be listed on an exchange. The public offering price is $1,000 per Note, with an underwriting discount of about $3.24 and proceeds to TD of about $996.76 per Note. TD estimates the initial value of each Note at $972.90, lower than the offering price, and highlights extensive risks including loss of principal, missed interest, issuer call and liquidity risk, and complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices. Each Note has a $1,000 principal amount and targets a Contingent Interest Rate of approximately 8.95% per annum, paid monthly only if, on each observation date, all three indices are at or above 75% of their Initial Values. If any index is below this barrier on an observation date, no interest is paid for that month.
TD may, at its discretion, call the Notes in whole on monthly Call Payment Dates starting with the twelfth interest date, returning the $1,000 principal plus any due interest, after which no further payments are made. If the Notes are not called, principal repayment at maturity in 2030 depends on the worst-performing index versus its 65% Barrier Value. If any index ends below this barrier, investors lose 1% of principal for each 1% decline of the worst index and can lose their entire investment. The Notes are not listed, are subject to TD’s credit risk, and have an estimated value of $966.90 per $1,000, which is less than the public offering price.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, with a total public offering of $283,000.00. The Notes pay contingent interest at approximately 10.00% per year, but only for months when each index is at or above 75% of its Initial Value; if any index is below that level on an observation date, no interest is paid for that period.
TD can redeem the Notes early, in whole, on monthly dates starting with the sixth 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, any index is below 70% of its Initial Value, investors lose principal in line with the decline of the worst-performing index and can lose their entire investment. The Notes are unsecured senior debt of TD, carry complex U.S. and Canadian tax treatment, are not listed on any exchange, and their estimated value at pricing was $978.30 per Note, below the $1,000.00 public offering price.
The Toronto-Dominion Bank is offering leveraged structured notes linked to three major U.S. equity indices — the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index. Each Note has a $1,000 principal amount, a Leverage Factor of 155.45% on the positive performance of the least performing index, a 70% barrier on each index, and matures on January 3, 2031, with the final index levels observed on December 30, 2030.
If the final value of each index is above its initial level, holders receive their principal plus 155.45% of the least performing index’s percentage gain. If any index finishes at or below its initial level but all stay at or above 70% of their initial values, holders simply receive their principal back. If any index closes below its 70% barrier, repayment is reduced one-for-one with the percentage loss of the worst-performing index, and holders can lose their entire principal. The Notes pay no interest, are unsecured obligations of TD, are not insured, and will not be listed on any exchange. The public offering price is $1,000 per Note, with an underwriting discount of $36.25 and proceeds to TD of $963.75 per Note, while the estimated value at pricing is $913.70 per Note.
The Toronto-Dominion Bank is offering senior unsecured Autocallable Contingent Interest Buffer Notes linked to Intel Corporation stock. The Notes pay a quarterly contingent interest at a 14.15% per annum rate only when Intel’s closing price is at or above the Contingent Interest Barrier of $27.975 (75% of the $37.30 Initial Value). Missed coupons can be paid later under a Memory Interest feature if the barrier is later met.
The Notes may be automatically called on quarterly Call Observation Dates if Intel is at or above the $37.30 Call Threshold (100% of Initial Value), in which case investors receive the $1,000 principal plus due and unpaid interest and no further payments. If not called, and Intel on the Final Valuation Date is at or above the Buffer Value of $27.975, investors receive full principal back.
If the Final Value is below the Buffer Value, investors receive physical delivery of about 35.7462 Intel shares per Note, exposing them to leveraged downside of roughly 1.3333% loss in principal for each 1% drop beyond the 25% buffer, up to total loss. The Notes mature on July 6, 2027, are not listed, carry TD credit risk, and had an estimated value of about $960.10 per $1,000 at pricing, below the public offering price.
The Toronto-Dominion Bank is offering senior unsecured Callable Contingent Interest Barrier Notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. Each Note has a $1,000 principal amount and pays a contingent coupon at approximately 8.00% per annum only if, on monthly observation dates, every index closes at or above its barrier set at 75.00% of its Initial Value.
TD can call the Notes monthly from the sixth 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 closes below its barrier set at 70.00% of its Initial Value, repayment at maturity is reduced 1% for each 1% decline in the worst-performing index, and investors can lose up to their entire principal. The Notes are not insured, will not be listed, and the estimated value at pricing was $960.30 per Note, below the $1,000 public offering price.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the least performing of three equity indexes: the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The Notes have a $1,000 principal amount and a total initial public offering size of $1,463,000.
Investors may receive monthly contingent interest at an annual rate of approximately 9.10%, but only if on each observation date all three indexes are at or above 70% of their initial levels. TD can redeem the Notes in whole, starting with the third interest payment date, paying principal plus any interest due. If the Notes are not called and any index finishes below 70% of its initial value at maturity, repayment is reduced one-to-one with the worst index’s decline and investors can lose all principal. The Notes are unsecured obligations of TD, not listed on any exchange, and had an estimated value of $955.50 per Note at pricing, below the $1,000 offering price.
The Toronto-Dominion Bank is offering $50,000 of Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The Notes target an annual contingent interest rate of approximately 7.60%, paid monthly only if on each observation date all three indices are at or above 75% of their initial values; if any index is below that level, no interest is paid for that month.
TD can, at its discretion, call the Notes in whole starting on the twelfth monthly interest date, repaying the $1,000 principal per Note plus any due interest, with no further payments. If the Notes are not called and at maturity any index is below 70% of its initial value, repayment is reduced 1-for-1 with the worst index’s decline, and investors can lose their entire principal. The Notes are unsecured obligations subject to TD’s credit risk, will not be listed, and have an estimated value of $938.50 per $1,000 Note, below the $1,000 public offering price.
The Toronto-Dominion Bank is offering Trigger Performance Leveraged Upside Securities ("Trigger PLUS") linked to the S&P 500® Index, maturing on February 4, 2032. Each note has a $1,000 stated principal amount, pays no coupons, and is a senior unsecured debt obligation of TD.
At maturity, if the final index value is above the initial index value, holders receive $1,000 plus a leveraged upside payment equal to 120.35% of the index gain, capped at a maximum gain of 85.00%, for a maximum payment of $1,850.00 per note. If the index ends at or below the initial level but at or above the trigger level of 85.00% of the initial value, repayment is limited to the $1,000 principal amount.
If the final index value is below the trigger level, repayment is $1,000 plus $1,000 times the underlying return, so investors lose 1% of principal for each 1% index decline below the initial level and can lose their entire investment. The notes do not provide any dividends from S&P 500 stocks, 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 $915.00 and $950.00 per note, less than the $1,000 issue price.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of EOG Resources, Inc. Each note has a $10,000 principal amount, minimum investment is $10,000, and stated maturity is June 30, 2027.
Investors can receive contingent coupon payments of up to 12.36% per annum, but only if on each observation date EOG’s closing price is at least 80.00% of the initial price of $103.50. If the final price on June 28, 2027 is at or above 80% of the initial price, TD repays $10,000 per note (plus any final contingent coupon).
If the final price is below this 80% principal barrier, TD will instead deliver shares of EOG worth less than 80% of principal, and investors can lose a substantial portion or all of their investment. The notes are unsecured obligations of TD, not insured by any government agency, will not be listed on an exchange, and TD’s initial estimated value of each note is $9,776, below the $10,000 public offering price, reflecting costs, margins and internal funding rates.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of Freeport-McMoRan Inc. The notes have a principal amount of $10,000 per note and an initial aggregate principal amount of $750,000, with a term of approximately 18 months, maturing on June 30, 2027.
Holders may receive contingent coupon payments of up to 16.50% per annum, but only if on each observation date Freeport’s share price is at least 80.00% of the initial price of $53.04. At maturity, if the final price is at or above this 80% principal barrier, investors receive full principal back (plus any final coupon). If it is below, investors receive a number of Freeport shares instead of cash, whose value is less than 80% of principal, and could be zero, meaning a loss of all or a substantial portion of the investment.
The notes are unsecured obligations of TD, are not insured by any government agency, and will not be listed on an exchange, so liquidity may be limited. The initial estimated value is $9,778 per $10,000 note, below the $10,000 public offering price, reflecting selling costs, hedging and TD’s internal funding rate. The document also highlights complex U.S. and Canadian tax treatment and multiple risks around market volatility, TD’s credit, pricing models, and potential conflicts of interest with TD, TD Securities and Goldman Sachs entities.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of Freeport-McMoRan Inc., with an aggregate principal amount of $750,000 and a minimum investment of $10,000 per note. The notes pay fixed quarterly coupons of $312 per $10,000 (3.12% per quarter, up to 12.48% per annum) from March 2026 through maturity on June 30, 2027.
At maturity, investors receive their $10,000 principal back only if the final stock price is at or above the 80% principal barrier of the initial price of $53.04. If the final price is below this barrier, investors receive shares of Freeport-McMoRan (or cash equivalent) worth less than 80% of principal, and may lose all or a substantial portion of their investment, regardless of coupons received.
The notes are unsecured obligations of TD, not insured by any government agency, and will not be listed on any exchange, so liquidity may be limited. TD’s initial estimated value is $9,797 per $10,000 note, lower than the public offering price, reflecting selling costs, hedging and TD’s internal funding rate, and secondary market prices may be materially below the issue price.
The Toronto-Dominion Bank is offering up to $1,000,000 of Senior Debt Securities, Series H notes linked to Halliburton Company common stock. Each $10,000 note pays fixed coupons of $300 quarterly (3.00% per quarter, up to 12.00% per year) from March 2026 through June 30, 2027.
At maturity, investors receive $10,000 per note if Halliburton’s final stock price on June 28, 2027 is at or above 80% of the initial price of $27.96. If the final price is below this barrier, investors receive shares equal to $10,000 divided by the initial price, whose value will be less than 80% of principal and could be zero, so there is no principal protection. The notes are unsecured, not insured by any government agency, and will not be listed on an exchange.
The public offering price is $10,000 per note, including an underwriting discount of $112, for net proceeds to TD of $9,888 per note. TD’s initial estimated value is $9,837 per $10,000 note, reflecting internal funding rates, structuring profit and hedging costs. U.S. tax treatment is based on characterizing each note as a non-contingent debt component plus a put option on Halliburton stock, with alternative treatments possible.
The Toronto-Dominion Bank is offering S&P 500® Index-linked senior notes, Series H, that pay no interest and mature on July 1, 2027. For each $1,000 note, investors receive at maturity either capped leveraged upside, full principal if moderate losses are within a buffer, or amplified losses if the index falls sharply.
If the final S&P 500® level is above the initial level of 6,905.74 but below the cap level (110.31% of the initial level), the payoff equals $1,000 plus 150% of the index gain. Returns are capped at a maximum payment amount of $1,154.65 per $1,000. If the index ends between 90.00% and 100.00% of the initial level, investors receive only their principal.
Below the 90.00% buffer level, principal loss is magnified by a downside multiplier of approximately 111.11%, and investors can lose their entire investment. The notes are unsecured obligations of TD, are not insured, will not be listed, and have limited liquidity. The initial estimated value is $981.30 per $1,000, below the public offering price, and total initial issuance is $3,793,000.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of The Mosaic Company, with a principal amount of $10,000 per note and $1,500,000 in aggregate, under an existing shelf registration. The notes pay fixed coupons of $370 per $10,000 each quarter (3.70% quarterly, up to 14.80% per year) from March 2026 through the June 30, 2027 maturity date.
At maturity, investors receive their principal in cash if Mosaic’s final stock price is at or above 80% of the initial price of $24.31. If the final price is below this 80% barrier, investors receive a “Share Delivery Amount” of Mosaic stock instead of cash, with a value below 80% of principal, and may lose some or all of their investment. The notes are unsecured obligations of TD, are not insured by any government agency, will not be listed on an exchange, and have an initial estimated value of $9,772 per $10,000 principal, below the public offering price, reflecting fees, hedging costs and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured S&P 500® Index-linked Notes, Series H, with a principal amount of $1,000 per note and $6,512,000 in aggregate, as described in this pricing supplement. The notes pay no interest and mature on March 24, 2027, with performance measured from the initial index level of 6,905.74 on December 29, 2025 to the valuation date of March 22, 2027.
At maturity, investors receive leveraged upside of 160.00% of any positive index gain, but returns are capped at a maximum payment of $1,151.68 per $1,000 note, equal to a maximum return of 15.168%. A 10.00% buffer protects principal against moderate declines in the S&P 500® Index, but if the index falls below the buffer level of 6,215.166 (90.00% of the initial level), repayment is reduced by approximately 1.1111% of principal for each 1% drop below the buffer and investors can lose their entire investment.
The notes are unsecured obligations of TD, are not insured by any governmental agency, will not be listed on any exchange and involve complex tax and valuation considerations. The initial estimated value is $996.70 per $1,000 note, below the public offering price, reflecting structuring costs, hedging and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured notes linked to the S&P 500® Index that pay no interest and do not guarantee return of principal. The notes are expected to mature between 14 and 16 months after pricing, with payment based solely on the index level on a single valuation date near maturity. For each $1,000 note, if the final index level is at or above 90.00% of the initial level, holders receive a fixed threshold settlement amount expected to be between $1,094.70 and $1,111.40, so upside is capped even if the index rises sharply.
If the final index level is below the 90.00% threshold level, repayment is reduced using a downside multiplier of approximately 1.1111, so a decline of more than 10.00% results in losses that grow faster than the index’s drop and can reach a 100% loss of principal. The initial estimated value is expected to be between $966.60 and $996.60 per $1,000 note, reflecting TD’s internal funding rate, structuring costs and hedging, and the notes are not listed, with any secondary market making at TD Securities’ discretion.
The Toronto-Dominion Bank is offering senior unsecured notes linked to the Class C Capital Stock of Alphabet Inc. (GOOG). The notes are issued at $1,000 per note in a minimum aggregate of $500,000, with a pricing date of December 26, 2025, valuation date June 26, 2026, and maturity date June 30, 2026.
The notes pay no interest. At maturity, investors receive cash based on Alphabet’s price performance: a 200.00% leveraged upside up to a maximum payment of $1,142.40 per $1,000 note, corresponding to a maximum return of 14.24%. A 10.00% buffer protects principal for declines up to that level, but below the buffer investors lose approximately 1.1111% of principal for each additional 1% drop, and can lose their entire investment.
The initial estimated value is $990.50 per $1,000 note, reflecting TD’s internal funding rate, hedging costs and dealer compensation. The notes are not bail-inable, are not insured by any deposit insurance corporation, will not be listed on an exchange, and are subject to TD’s credit risk and complex U.S. and Canadian tax considerations.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of The Campbell’s Company, maturing on June 30, 2027. Each note has a $10,000 principal amount, with a minimum investment of $10,000 and an initial aggregate offering of $500,000. The notes can pay contingent coupons of up to 10.972% per annum, but only if Campbell’s stock closes at or above 80.00% of the initial price of $28.15 on specified observation dates.
At maturity, investors receive $10,000 per note if the final stock price is at or above the same 80.00% barrier; otherwise they receive shares worth less than 80% of principal and can lose a substantial or total amount of their investment. The initial estimated value is $9,603 per $10,000 note, versus a public offering price of $10,000, with an underwriting discount of $149 and proceeds to TD of $9,851 per note. The notes will not be listed, are subject to TD’s credit risk, and have complex U.S. tax treatment as prepaid derivative contracts.
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 term to June 29, 2028, and no periodic interest.
At maturity, if the index is above the Initial Value of 6,929.94, investors receive unleveraged upside, capped at a Maximum Upside Redemption Amount of $1,236.50 per Note (a 23.65% maximum gain. If the index is at or below the Initial Value but at or above 80.00% of it (the Buffer Value of 5,543.952), investors receive a positive "contingent absolute" return equal to the absolute percentage change, up to 20.00%.
If the Final Value is below the Buffer Value, investors lose 1% of principal for each 1% index decline beyond the 20.00% buffer, and may lose up to 80.00% of principal. The Notes are unsecured senior debt of TD, not listed on an exchange, and subject to TD’s credit risk. The public offering price is $1,000 per Note, with an estimated value on the pricing date of $988.40 and an initial total offering of $700,000.
The Toronto-Dominion Bank is offering Capped Contingent Absolute Return Buffered Notes linked to the S&P 500® Index as senior unsecured debt, Series H. Each Note has a $1,000 Principal Amount, a Pricing Date of January 6, 2026, matures on January 11, 2028, and pays no periodic interest.
At maturity, if the S&P 500 Final Value is above the Initial Value, investors receive the principal plus the index percentage gain, capped at a Maximum Upside Redemption Amount of $1,189.50 per Note (a maximum gain of 18.95%. If the Final Value is at or below the Initial Value but at or above 85.00% of the Initial Value, investors receive a positive “contingent absolute return” equal to the absolute percentage change, up to a 15.00% gain.
If the Final Value falls below 85.00% of the Initial Value, principal is exposed beyond a 15.00% buffer and investors lose 1% of principal for each additional 1% index decline, up to a maximum loss of 85.00%. The Notes are not listed, are subject to TD’s credit risk, have an estimated value on the Pricing Date of $950.00–$985.00 per $1,000, and carry complex U.S. and Canadian tax and liquidity considerations.
The Toronto-Dominion Bank is offering senior unsecured Autocallable Strategic Accelerated Redemption Securities linked to the EURO STOXX 50 Index, with a $10 principal amount per unit and a term of about three years if not called earlier. The notes may be automatically called on observation dates around January 2027, 2028 and 2029 if the Index closing level is at or above its starting level, paying call amounts of approximately $10.95–$11.05, $11.90–$12.10 or $12.85–$13.15 per unit depending on when they are called.
If the notes are not called and the Index finishes below the starting level (the threshold value), investors have 1-to-1 downside exposure and can lose up to their entire principal. The initial estimated value on the pricing date is expected to be between $9.281 and $9.581 per unit, below the public offering price of $10, reflecting underwriting discounts of $0.20 and a hedging-related charge of $0.05 per unit. The notes pay no periodic interest, depend on TD’s creditworthiness, and are not insured or listed on any exchange.
The Toronto-Dominion Bank is issuing autocallable contingent interest barrier notes linked to the worst performer among Amazon, JPMorgan Chase and Visa common stock. Each $1,000 Note can pay a contingent interest coupon at a 19.65% per annum rate, but only if on the monthly observation date the closing value of every stock is at or above 69.00% of its initial value. The Notes are automatically called, returning principal plus any due interest, if on a call observation date each stock is at or above 100.00% of its initial value.
If the Notes are not called and, on the final valuation date, every stock is at or above 82.00% of its initial value, investors receive back the $1,000 principal per Note plus any due interest. If any stock finishes below 82.00% of its initial value, repayment is reduced one-for-one with the decline of the worst-performing stock and investors can lose up to their entire principal. The Notes are unsecured senior debt of TD, will not be listed, and have an estimated value of $970.10 per $1,000 Note versus a $1,000 public offering price, with a total initial offering of $510,000.
The Toronto-Dominion Bank is offering senior unsecured notes that pay no interest and mature on February 18, 2028. The repayment depends on an unequally weighted basket of five equity indices: EURO STOXX 50® (38%), TOPIX (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%), measured from the pricing date on December 23, 2025 to the valuation date on February 16, 2028.
If the basket rises, investors receive 250% of the basket’s percentage gain, capped at a Maximum Payment Amount of $1,286.25 per $1,000, equal to a maximum return of 28.625%. If the basket falls up to 15%, investors receive their $1,000 principal. Below the 85% buffer level, losses accelerate at about 1.1765% of principal for each additional 1% decline, and investors can lose their entire investment.
The initial basket level is set to 100, and the initial estimated value of each note is $991.60 versus a $1,000 public offering price, on a total offering size of $10,063,000. The notes are not bank deposits, are subject to TD’s credit risk, and will not be listed on any exchange.
The Toronto-Dominion Bank is offering Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index, issued as senior unsecured debt with a $10 principal amount per unit. These notes may be automatically called on observation dates about one to six years after pricing if the Index is at or above its starting level, paying call amounts that range from [$10.65–$10.75] on the first observation date up to [$13.90–$14.50] on the final observation date.
If the notes are never called and, at maturity, the Index is below the threshold (100% of the starting value), investors have 1-to-1 downside exposure and can lose up to all of their principal. The notes pay no periodic interest, have limited secondary market liquidity, and all payments depend on TD’s credit. The public offering price is $10.00 per unit, with an underwriting discount of $0.20 and a hedging-related charge of $0.05, while the initial estimated value is expected to be between $9.287 and $9.587 per unit.
The Toronto-Dominion Bank is offering unsecured senior notes linked to an unequally weighted basket of five equity indices: EURO STOXX 50 (38%), TOPIX (26%), FTSE 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). The notes pay no interest and mature on December 27, 2027, with performance measured from December 22, 2025 to December 22, 2027.
For each $1,000 note, if the basket rises, investors receive leveraged upside of 124.85% of the basket’s percentage gain. If the basket falls by up to 10%, investors receive $1,000 back. Below the 90% buffer level, repayment is reduced at about 111.11% of losses beyond the buffer, and investors can lose all principal. The initial estimated value is $977.10 per $1,000, versus a $1,000 public offering price, and the aggregate offering size is $6,765,000. The notes are not listed and all payments depend on TD’s credit.
The Toronto-Dominion Bank is offering Capped Notes with Absolute Return Buffer linked to the S&P 500® Index, issued in $10 units and maturing in approximately 14 months. The notes provide 1-to-1 upside exposure to the Index up to a 10.00% maximum return, via a Capped Value of $11.00 per unit.
If the Index ends below its starting level but at or above a Threshold Value set between 90.00% and 95.00% of the starting level, investors receive a positive return equal to the absolute value of the Index decline (for example, a -5.00% Index move pays +5.00%). If the Index falls below the Threshold Value, investors are exposed to 1-to-1 downside beyond that level and can lose up to 90.00%–95.00% of principal.
The notes are senior unsecured debt of TD, pay no periodic interest, and all cash flows occur at maturity. The initial estimated value is expected between $9.388 and $9.688 per unit, below the $10 public offering price, reflecting an underwriting discount of $0.175 and a hedging-related charge of $0.05 per unit. The notes are not insured by CDIC, FDIC, or any government agency and will not be listed on any exchange, so secondary market liquidity may be limited.
The Toronto-Dominion Bank is offering unsecured Dual Directional Capped Contingent Barrier Notes linked to the S&P 500® Index, maturing on June 28, 2027. Each Note has a $1,000 principal amount, with a minimum investment of $10,000.
At maturity, if the arithmetic-average Final Level is at or above the Initial Level of 6,909.79, investors receive principal plus the Percentage Change, capped at a Maximum Upside Return of 3.42% (a payment of $1,034.20 per Note). If the Final Level is below the Initial Level but at or above the Barrier Level of 3,800.3845 (55.00% of the Initial Level), investors get a positive "contingent absolute" return of 1% for each 1% decline, up to 45.00%.
If the Final Level is below the Barrier Level, repayment equals principal plus principal times the Percentage Change, so investors lose 1% of principal for each 1% decline from the Initial Level and can lose the entire investment. The Notes pay no interest, will not be listed, are subject to TD’s credit risk, and have an estimated value on the Pricing Date of $950.00–$985.00 per $1,000 Note, less than the public offering price.
The Toronto-Dominion Bank is offering leveraged barrier notes linked to the worst performer of the iShares MSCI EAFE ETF and the EURO STOXX 50 Index. Each Note has a $1,000 principal amount, 5-year term, and provides 212.15% participation in the positive return of the least performing reference asset if both finish above their initial values.
If any reference asset finishes at or below its initial value but both stay at or above 65% of their initial values, investors receive only the $1,000 principal. If any finishes below its 65% barrier, repayment is reduced 1% for each 1% decline in the least performing asset, up to a total loss of principal. The Notes pay no interest, are unsecured senior debt of TD, are not insured, and will not be listed on an exchange.
The public offering price is $1,000 per Note, with an estimated value of $959 at pricing, reflecting selling costs and TD’s internal funding rate.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes with Memory Interest linked to the worst performer among Deere & Company, Emerson Electric Co. and The Sherwin-Williams Company. Each Note has a $1,000 principal amount and a total initial public offering of $272,000.
The Notes pay a contingent coupon of $7.458 per month, plus any previously unpaid coupons under a “memory” feature, but only when each stock closes at or above its contingent interest barrier, set at 50.00% of its initial value. The Notes are automatically called if, on a quarterly call date, each stock is at or above 100.00% of its initial value, returning principal plus any due interest.
If not called and any stock finishes below its 50.00% barrier on the final valuation date, repayment of principal is reduced one-for-one with the worst stock’s decline and investors can lose up to their entire investment. The Notes are unsecured senior debt of TD, not insured, not listed, and their estimated value on the pricing date was $943.70 per Note, below the $1,000 offering price.
The Toronto-Dominion Bank is offering up to $500,000 of unsecured structured notes linked to the S&P 500® Index, each with a $1,000 principal amount and an approximately 18‑month term. At maturity, investors receive a cash payment based on the index’s performance, with upside capped at a maximum return of 3.42% per Note and a “contingent absolute return” of up to 45% if the index finishes below the initial level but at or above a barrier set at 55% of the initial level.
If the final averaged index level falls below the barrier, investors lose 1% of principal for each 1% decline from the initial level and can lose their entire investment. The notes pay no periodic interest, are senior unsecured obligations subject to TD’s credit risk, and will not be listed on any exchange. The estimated value on the pricing date is $984.10 per Note, which is less than the $1,000 public offering price, and secondary market liquidity, if any, is expected to be limited and at prices below the offering price.
Toronto-Dominion Bank is offering unsecured callable notes linked to three major U.S. equity indexes. The notes reference the Nasdaq-100, Russell 2000 and S&P 500, and pay a 10.10% per annum contingent interest only if on each quarterly observation date all three indexes are at or above 70% of their initial values. If any index is below its barrier on an observation date, that quarter’s interest is skipped.
TD can call the notes quarterly starting on the second interest payment date, repaying the $1,000 principal per note plus any due interest, after which no further payments are made. If the notes are not called, principal repayment at maturity depends on the worst-performing index: investors receive full principal only if each index is at or above 65% of its initial value; otherwise, repayment is reduced one-for-one with the percentage decline of the least performing index, up to a total loss.
The notes are not insured, will not be listed on an exchange, and are subject to TD’s credit risk. The estimated value at pricing was $987.40 per $1,000 note, below the public offering price, reflecting selling, structuring and hedging costs. U.S. investors are expected to treat the notes as prepaid derivative contracts for tax purposes, with contingent interest taxed as ordinary income.
The Toronto-Dominion Bank (TD) is offering Autocallable Strategic Accelerated Redemption Securities linked to the S&P 500 Index, issued as senior unsecured debt at $10 principal per unit. The notes may be automatically called after roughly one, two or three years if the Index on an Observation Date is at or above its starting level, paying a Call Amount per unit of [$10.75 to $10.85] on the first date, [$11.50 to $11.70] on the second, or [$12.25 to $12.55] on the final date, with actual amounts set on the pricing date.
If the notes are never called and the Index ends below its starting level, repayment at maturity is reduced 1‑for‑1 with the decline, so up to 100% of principal is at risk. There are no periodic interest payments, and all amounts depend on TD’s credit. The public offering price is $10.00 per unit, including a $0.20 underwriting discount and a $0.05 hedging-related charge, while the initial estimated value is expected between $9.338 and $9.638 per unit.
The Toronto-Dominion Bank is issuing senior unsecured Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. Each Note has a $1,000 principal amount, matures on December 29, 2027 and offers a contingent interest rate of approximately 11.20% per annum, paid monthly only if all three indexes are at or above 70.00% of their initial levels on the relevant observation date.
TD may call the Notes monthly starting on 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 its 70.00% barrier, repayment at maturity is reduced in line with the worst index’s percentage decline, up to a complete loss of principal. The notes’ estimated value on the pricing date is $973.50 per $1,000, versus a public offering price of $1,000, and the total offering size is $1,862,000.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. Each Note has a $1,000 principal amount, priced at $1,000, with an estimated value of $975.90 per Note.
The Notes pay a monthly contingent interest at an annual rate of approximately 11.20% only if on each observation date all three indices are at or above 70.00% of their initial values. TD can redeem the Notes in whole, but not in part, on any monthly call date starting with the third interest payment date, returning principal plus any due interest and ending further payments.
If the Notes are not called and on the final valuation date any index closes below its 70.00% barrier, repayment of principal is reduced 1% for each 1% decline of the worst-performing index, down to a possible total loss. The Notes are unsecured senior debt of TD, will not be listed, may have limited liquidity, and involve complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes with Memory Interest linked to Tesla, Inc. common stock. Each Note has a $1,000 principal amount, with a total public offering of $2,860,000. The Notes pay a contingent interest at an annual rate of 20.80%, but only if Tesla’s closing price on each quarterly observation date is at or above the contingent interest barrier, set at 70.00% of the initial value of $485.56.
The Notes are automatically called if Tesla’s price on a call observation date is at or above 100.00% of the initial value, returning principal plus any due and unpaid interest, with no further payments. If the Notes are not called and Tesla’s final value is below the 70.00% barrier, investors receive Tesla shares at a fixed physical delivery amount of 2.0595 shares per Note, which may be worth significantly less than principal and could be nearly worthless. The Notes are senior unsecured obligations of TD, not listed on any exchange, and their estimated value at pricing was $973.60 per Note, below the $1,000 public offering price.
The Toronto-Dominion Bank is issuing Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500 indexes. The notes target an approximate 9.85% per annum contingent interest, paid monthly only when all three indexes are at or above 70% of their initial levels on the observation date.
TD can call the notes monthly starting on the sixth 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, at maturity in December 2028, any index is below 60% of its initial level, investors lose 1% of principal for each 1% decline in the worst-performing index and could lose their entire investment.
The notes are unsecured senior debt of TD, with an estimated initial value of $989.20 per $1,000 note versus a $1,000 public offering price. They are not insured by Canadian or U.S. deposit insurers, will not be listed on an exchange, may have limited or no liquidity, and are subject to complex U.S. tax treatment and TD’s credit risk.
The Toronto-Dominion Bank is offering senior unsecured, principal-at-risk notes linked to the EURO STOXX 50® Index, with an aggregate principal amount of $6,318,000 and $1,000 per note. The notes are issued in U.S. dollars, pay no interest, and mature on June 11, 2027, based on the index performance from the December 22, 2025 pricing date to the June 9, 2027 valuation date.
The initial index level is 5,743.69 and the threshold level is 5,025.72875 (87.50% of the initial level). If the final level is at or above the threshold, investors receive a fixed Threshold Settlement Amount of $1,124.60 per $1,000 note, capping upside at a 12.460% return. If the final level falls below the threshold, repayment is reduced by a downside multiplier of approximately 1.1429, and investors can lose up to their entire principal.
The notes are not listed, subject to TD’s credit risk, and their initial estimated value is $992.10 per $1,000 note, below the public offering price. The filing details significant market, liquidity, tax, and credit risks, and emphasizes that the notes differ from conventional interest-bearing debt and do not provide dividends or index participation beyond the fixed threshold payout.
The Toronto-Dominion Bank is issuing leveraged contingent absolute return barrier notes linked to the S&P 500 Index. Each Note has a $1,000 principal amount, with an Initial Value of 6,909.79 for the index, a Barrier Value at 70.00% of that level and a Leverage Factor of 101.75%.
If the S&P 500 Final Value is above the Initial Value, investors receive the index gain multiplied by 101.75%. If the Final Value is at or below the Initial Value but at or above the Barrier, investors receive a contingent absolute return on the index move, capped at a 30.00% gain. If the Final Value falls below the Barrier, losses match the index decline and investors can lose their entire principal.
The Notes pay no interest, are unsecured senior debt of TD, and are not insured or exchange‑listed. The public offering price is $1,000 per Note, while the estimated value on the pricing date is $981.50 per Note, reflecting structuring and hedging costs. The Notes mature on December 27, 2030, and the complex U.S. and Canadian tax treatment is highlighted as uncertain.
The Toronto-Dominion Bank is offering TOPIX-linked senior notes that pay no interest and mature on July 19, 2027. Your return depends on how TOPIX performs from the pricing date of December 22, 2025 to the valuation date of July 15, 2027.
For each $1,000 note, if the final TOPIX level is above the initial level of 3,405.17 but below the cap, you receive principal plus 150% of the index gain. Returns are capped at a Maximum Payment Amount of $1,278.25 (127.825% of principal), reached once TOPIX is at or above 118.55% of its initial level.
If TOPIX falls by up to the 10.00% buffer (to the buffer level of 3,064.653), you receive back only your principal. Below the buffer, losses amplify: you lose approximately 1.1111% of principal for every 1% drop beyond the buffer, and you can lose your entire investment. The notes are unsecured obligations of TD, not principal-protected, not listed, and subject to TD’s credit risk.
The initial estimated value is $976.20 per $1,000 note, below the $1,000 public offering price, on a total offering size of $7,500,000.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Buffer Notes linked to Intel Corporation common stock. Each Note has a $1,000 principal amount and may pay quarterly contingent interest at an annual rate of 13.25% to 14.25%, but only when Intel’s closing price is at or above a barrier set at 75% of its initial value. Missed interest can be paid later under a memory feature if the barrier is met on a future observation date.
The Notes can be automatically called if Intel’s price is at or above 100% of the initial value on a call observation date, returning principal plus any due and unpaid interest, with no further payments. If not called, and Intel’s final price is at or above the 75% buffer level, investors receive full principal back. If the final price is below the buffer, investors receive Intel shares (or cash in lieu of fractions) based on a downside leverage of about 1.3333% loss in principal for each 1% drop beyond the 25% buffer, which can lead to substantial or total loss. The estimated value on the pricing date is expected to be $930–$960 per $1,000 Note, and the Notes are unsecured, unsubordinated obligations of TD.
The Toronto-Dominion Bank is offering $33,452,000 of Callable Contingent Income Securities due December 23, 2027, linked to the worst-performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each $1,000 security can pay a quarterly contingent coupon of $24.45 (equivalent to 9.78% per annum) if, on every trading day in that quarter, all three indices stay at or above 70% of their initial levels. If any index closes below its coupon threshold even once in a quarter, no coupon is paid for that period.
TD may redeem the notes early, in whole but not in part, on any coupon date (other than at final maturity), paying $1,000 plus any due coupon, after which no further payments are made. At maturity, if none of the indices has fallen below 70% of its initial value, investors receive $1,000 per security plus any final coupon. If any index finishes below its downside threshold, the payout is reduced 1-for-1 with the decline of the worst-performing index, and can be zero, meaning loss of the entire principal.
The notes are unsecured senior debt of TD, not insured by any government agency and will not be listed on an exchange. The issue price is $1,000 per security, while the estimated value on the pricing date is $971.40, reflecting structuring and distribution costs.
The Toronto-Dominion Bank is offering $15,136,000 of senior unsecured Callable Contingent Income Securities, each with a $1,000 stated principal amount, linked to the worst performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index and maturing on December 23, 2027.
The notes can pay a contingent quarterly coupon of $21.10 per security (equivalent to 8.44% per annum) if, on every trading day in a quarter, each index closes at or above 65.00% of its initial value. If any index closes below its 65.00% coupon threshold on any day in the quarter, no coupon is paid for that period.
TD may redeem the notes in whole on any quarterly observation period end-date (other than the final one) and pay back principal plus any due coupon. If the notes are not called and, at maturity, any index’s final value is below 65.00% of its initial value, investors are exposed 1-to-1 to the decline of the worst performing index and can lose a significant portion or all of principal. The securities are unsecured obligations subject to TD’s credit risk, will not be listed, and had an estimated value on the pricing date of $971.10 per $1,000 security, below the issue price.
The Toronto-Dominion Bank is offering $4,720,000 of senior unsecured Contingent Income Auto-Callable Securities linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500, maturing on December 23, 2027. Each $1,000 security can pay a contingent quarterly coupon of $26.00, equivalent to 10.40% per annum, but only if on every trading day in the quarter each index stays at or above 75.00% of its initial level.
Starting after a 6‑month non-call period, the notes are auto-callable quarterly if on an observation period end-date (other than the first and final) all three indices are at or above 100.00% of their initial levels. In that case, investors receive $1,000 plus any due coupon and the notes terminate.
At maturity, if the notes were not called and any index finishes below 75.00% of its initial level, repayment is reduced 1‑for‑1 with the decline of the worst index, and can fall to $0. Principal is not protected, investors do not participate in any index upside, the notes are not listed, and all payments depend on TD’s credit. The estimated value at pricing was $968.00 per $1,000 security, below the issue price.
The Toronto-Dominion Bank is offering autocallable fixed-interest barrier notes linked to the worst performer among Moderna, Palantir and Tesla. Each $1,000 Note pays fixed monthly interest of $21.667, corresponding to an annual rate of about 26%, while the Notes remain outstanding, regardless of how the three stocks perform.
The Notes are automatically called on a monthly observation date if the closing value of every stock is at or above its initial level; in that case holders receive $1,000 plus the scheduled interest and the Notes terminate. If the Notes are not called and, on the final valuation date, every stock is at or above 50% of its initial value, investors receive their $1,000 principal back plus the last interest payment.
If, at maturity, any stock finishes below its 50% barrier, repayment of principal is reduced one-for-one with the decline of the worst-performing stock, and investors can lose all of their principal. The Notes are unsecured senior debt of TD, are not insured, will not be listed, have an estimated value of $954.80 per $1,000 at pricing, and are subject to complex U.S. and Canadian tax treatment and TD’s credit risk.
The Toronto-Dominion Bank is offering senior unsecured structured notes whose return is linked to the common stock of The Campbell’s Company. The notes have an expected term of about 18 months and may pay contingent coupons of between 10.28% and 12.08% per year, set on the pricing date. A coupon is paid only if on each observation date the Campbell stock price is at least 80.00% of the initial price; otherwise the coupon for that period is zero.
At maturity, for each $10,000 note, investors either receive their principal in cash if the final stock price is at or above 80.00% of the initial price, or receive Campbell shares (or cash equivalent) worth less than 80.00% of principal if the final price is below that barrier, resulting in loss of some or all of the investment. The notes are unsecured obligations of TD, not insured by any government agency and will not be listed on an exchange. The initial estimated value per $10,000 note is expected to be between $9,303.00 and $9,603.00, reflecting fees, hedging costs and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured notes linked to the S&P 500® Index with a term expected between 23 and 26 months. The notes pay no interest and your cash payment at maturity depends entirely on index performance between the pricing date and a single valuation date.
If the index rises, you receive leveraged upside at a 150% participation rate, but your total payout is capped at a Maximum Payment Amount expected between $1,193.95 and $1,227.55 per $1,000 of principal (a maximum return of about 19.395% to 22.755%). If the index falls up to 10.00%, you receive your principal only.
If the index declines by more than 10.00%, losses accelerate via a downside multiplier of approximately 111.11%, and you can lose all of your investment. The notes are unsecured obligations of TD, not insured deposits, will not be listed on an exchange, and may have limited or no secondary market. The initial estimated value is expected between $945.90 and $975.90 per $1,000, below the public offering price, reflecting embedded costs and dealer compensation.
The Toronto-Dominion Bank is offering unsecured Autocallable Contingent Interest Barrier Notes linked to the worst performer of Broadcom (AVGO), Alphabet Class C (GOOG) and Netflix (NFLX). The Notes can pay a contingent coupon at an annual rate of 18.75%, assessed monthly, but only if every stock closes at or above its contingent interest barrier set at 60% of its initial value.
The Notes are automatically called and repaid at par plus any due interest if, on a call observation date, all three stocks are at or above 100% of their initial values. If not called, principal repayment at maturity depends on the “least performing” stock. If any stock finishes below its barrier at 50% of initial value, investors lose principal 1-for-1 with that stock’s decline and can lose their entire investment.
The public offering price is $1,000 per Note, with an estimated value of $920.50, reflecting fees, hedging costs and TD’s internal funding rate. The Notes are not insured, will not be listed on an exchange, are subject to TD’s credit risk, and involve complex U.S. and Canadian tax considerations.