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 issuing unsecured Callable Contingent Interest Barrier Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index. The Notes offer a contingent coupon of approximately 11.00% per year, paid monthly only if on each observation date all three indices are at or above 70% of their initial levels. If any index is below its barrier, no interest is paid for that month.
TD can, at its discretion, call the Notes monthly 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, at maturity in 2028, any index is below 70% of its initial level, investors lose principal on a 1-for-1 basis with the decline of the worst-performing index, up to a total loss of principal.
The Notes are not insured, will not be listed on an exchange, and their value depends on TD’s credit. The estimated value at pricing was $986 per $1,000 Note, below the public offering price, reflecting fees, structuring and hedging costs. The document highlights significant market, correlation, liquidity, conflict-of-interest and complex U.S. and Canadian tax risks.
The Toronto-Dominion Bank is offering unsecured, senior Notes linked to the S&P 500® Index with a term of about three years and a principal amount of $1,000 per Note. The Initial Level is 6,834.50 and the Buffer Level is 4,784.15, equal to 70% of the Initial Level.
At maturity, if the Index is at or above the Initial Level, holders receive principal plus the Index gain, capped at a Maximum Return of 32.80% (a maximum payment of $1,328 per $1,000 Note). If the Final Level is between 70% and 100% of the Initial Level, investors receive only their principal back and earn no return.
If the Final Level is below the Buffer Level, losses are magnified: investors lose about 1.4286% of principal for each 1% Index decline beyond the 30% buffer and can lose their entire investment. The Notes pay no interest, are not insured, will not be listed on any exchange, and are subject to TD’s credit risk. The estimated value on the pricing date was $979.80 per $1,000 Note, below the public offering price.
The Toronto-Dominion Bank is offering S&P 500®-linked senior notes that pay no interest and return a cash amount at maturity on March 23, 2027 based on index performance. Each note has a $1,000 principal amount and measures the S&P 500 from the initial level of 6,834.50 on December 19, 2025 to the valuation date.
If the index rises, holders earn 120% of the index gain but the payoff is capped at a Maximum Payment Amount of $1,140.64, a maximum total return of 14.064%. If the index falls by up to 10%, holders receive $1,000. Below the Buffer Level of 90% of the initial level, losses accelerate: investors lose about 1.1111% of principal for every additional 1% index drop, and can lose the entire investment.
The notes are unsecured obligations of TD, are not insured, and will not be listed on an exchange. TD’s initial estimated value is $984.80 per $1,000, below the public offering price, and the document highlights significant risks around principal loss, limited liquidity, conflicts of interest, and complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering 18‑month senior unsecured notes whose return is tied to the common stock of EOG Resources, Inc. Each note has a $10,000 principal amount and may pay contingent coupons only if, on an observation date, EOG’s closing price is at least 80.00% of the initial price.
On each coupon date, investors receive a cash payment equal to the elapsed months/12 times between $1,108.00 and $1,300.00 per $10,000 (a potential annualized rate between 11.08% and 13.00%) when the barrier is met; otherwise the coupon is $0. At maturity, if EOG’s final price is at least 80.00% of the initial price, TD repays $10,000 per note plus any due coupon. If it is below 80.00%, investors receive EOG shares (or cash) worth less than 80% of principal and can lose most or all of their investment.
The notes are unsecured obligations, subject to TD’s credit risk, will not be listed on an exchange and may have limited liquidity. The initial estimated value is expected to be $9,341.00 to $9,641.00 per $10,000 due to TD’s internal funding rate, hedging costs and selling compensation.
The Toronto-Dominion Bank is offering 18‑month senior unsecured notes whose payoff is linked to the common stock of Freeport‑McMoRan Inc. In addition to return of principal if conditions are met, investors are scheduled to receive fixed quarterly coupons between 2.81% and 3.30% per $10,000 of principal (between $281 and $330 per quarter, set on the pricing date).
At maturity, if the Freeport‑McMoRan share price is at or above 80% of its initial price, investors receive full principal in cash plus the final coupon. If it is below this barrier, investors receive shares of Freeport‑McMoRan worth less than 80% of principal and can lose a substantial portion or all of their investment. The notes are unsecured obligations of TD, will not be listed on an exchange, and their value is affected by TD’s internal funding rate, market factors and TD’s and Goldman Sachs’ pricing models. The initial estimated value is expected to be between $9,374 and $9,674 per $10,000 of principal.
The Toronto-Dominion Bank is offering 939,197 STEP Income Securities linked to the common stock of Corning Incorporated, each with a $10 principal amount, for a total public offering price of $9,391,970.
The notes pay 12.00% annual interest, quarterly, over a term of about one year and one week, and may pay an additional $1.175 per unit Step Payment at maturity if Corning’s stock is at or above 112.00% of the $86.88 Starting Value. If the Ending Value is below the Threshold Value of $86.88, principal is reduced 1-to-1 with the stock decline and can fall to zero.
The initial estimated value is $9.623 per unit, below the $10 public offering price, reflecting underwriting and hedging-related costs, including a $0.15 underwriting discount and $0.05 hedging charge per unit. The notes are senior unsecured obligations of TD, not insured by any government agency, and are expected to have limited secondary market liquidity.
The Toronto-Dominion Bank is offering 18‑month senior unsecured notes in $10,000 denominations whose return is linked to the common stock of The Mosaic Company (MOS). Holders are expected to receive fixed quarterly coupons between 3.28% and 3.85% of principal (between $328 and $385 per $10,000), set on the pricing date, regardless of Mosaic’s share performance.
At maturity, investors receive back $10,000 in cash per note if the Mosaic share price on the final valuation date is at or above 80% of the initial price. If it is below that barrier, investors receive Mosaic shares equal to $10,000 divided by the initial price, so the maturity value falls in line with Mosaic’s percentage decline and can result in a substantial or total loss of principal. The notes are unsecured obligations of TD, are not insured by any government agency, will not be listed on an exchange, and carry an initial estimated value of about $9,208–$9,508 per $10,000, below the public offering price due to fees, hedging and TD’s internal funding rate.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the common stock of Freeport-McMoRan Inc. The notes are expected to mature in about 18 months and pay contingent coupons only if Freeport’s stock closes at or above 80.00% of the initial price on specified observation dates roughly every three months. When the barrier is met, investors receive a prorated annualized coupon between 15.52% and 18.24%, set on the pricing date.
At maturity, if the final stock price is at or above 80.00% of the initial price, investors receive the $10,000 principal per note, plus any final contingent coupon. If it is below 80.00%, principal is repaid in shares of Freeport based on the initial price, exposing investors to potentially large losses, up to 100% of principal. The notes are unsecured obligations of TD, will not be listed on an exchange, and the initial estimated value is expected to be $9,450–$9,750 per $10,000, below the public offering price.
The Toronto-Dominion Bank is offering senior unsecured Callable Fixed Interest Barrier Notes linked to the worst performer of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. The Notes pay fixed monthly interest at an annual rate of approximately 6.55%, regardless of index performance, unless TD calls them early. TD can, at its discretion, redeem all Notes monthly starting on the sixth interest payment date, returning the $1,000 principal per Note plus accrued interest.
If the Notes are not called, repayment of principal at maturity depends on index levels on the Final Valuation Date. If each index is at or above 70% of its Initial Value, investors receive full principal. If any index closes below its 70% barrier, the maturity payment is reduced 1% for each 1% decline in the worst-performing index, potentially resulting in a total loss of principal, though investors keep all interest received. The initial public offering price is $1,000 per Note, with an estimated value of $956.50 and total offering size of $575,000.
The Toronto-Dominion Bank is offering Senior Debt Securities, Series H, in the form of Callable Contingent Interest Barrier Notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices. The Notes offer an estimated contingent interest rate of approximately 9.20% per annum, but interest is paid only if, on each monthly observation date, all three indices are at or above 75% of their initial levels. TD can, at its discretion, call the Notes monthly starting with the twelfth 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 is below 65% of its initial level, repayment of principal is reduced 1% for every 1% decline in the worst-performing index, up to a total loss of principal. The Notes are unsecured, not insured by any government agency, will not be listed on an exchange, and had an estimated value of $969 per $1,000 Note versus a public offering price of $1,000, with a total initial offering size of $436,000.
The Toronto-Dominion Bank is offering senior unsecured Market Linked Securities tied to the lowest performing of the Nasdaq-100, Russell 2000 and S&P 500 Index, maturing on June 25, 2030. The notes pay a 10.00% per annum contingent coupon, payable quarterly, but only if on every eligible trading day in an observation period the lowest performing index stays at or above 70% of its starting level. TD may redeem the securities quarterly, beginning about three months after issuance, at par plus any due coupon.
If the notes are not called, investors receive the $1,000 face amount at maturity only if the lowest performing index on the final calculation day is at or above its 60% downside threshold. Otherwise, repayment is reduced in line with that index’s decline and can fall to zero. The estimated value is $972.60 per $1,000 note, below the $1,000 offering price. The notes are unsecured obligations of TD, not insured by CDIC or FDIC, and will not be listed on any exchange.
The Toronto-Dominion Bank is offering callable contingent interest barrier notes linked to the least performing of Apple, Goldman Sachs and Intel common stock. The notes pay a contingent interest rate of 16.80% per annum, but only if on each monthly observation date all three stocks close at or above their contingent interest barrier, set at 50.00% of their initial values. TD can call the notes quarterly starting on the twelfth 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 stock finishes below its 50% barrier, investors lose principal in line with the worst performer and can lose their entire investment. The estimated value on the pricing date is $944.00 per note versus a public offering price of $1,000, the notes are unsecured, not listed, and involve complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering senior unsecured Digital Barrier Notes linked to the common stock of Oracle, PayPal and Walmart. Each Note has a $1,000 principal amount, a fixed Digital Return of 62.00% and a term from a January 8, 2026 pricing date to a January 11, 2029 maturity date. If on the final valuation date the final value of each stock is at or above 55.00% of its initial value, holders receive $1,000 plus 62.00% of principal, or $1,620 per Note.
If any stock finishes below its 55.00% barrier, repayment is reduced 1% for each 1% decline of the worst performer from its initial value, up to a complete loss of principal. The Notes pay no interest, are unsecured obligations of TD, and are not insured by any government agency or listed on an exchange. The estimated value on the pricing date is expected to be $850.00–$885.00 per $1,000 Note, reflecting structuring, distribution and hedging costs. The documents highlight complex payoff mechanics, market and issuer credit risk, limited liquidity, conflicts of interest and uncertain U.S. tax treatment.
The Toronto-Dominion Bank is offering senior unsecured, principal-at-risk notes linked to Alphabet Inc.’s Class C stock. The notes have a term expected between 6 and 8 months, pay no interest and are not listed on any exchange. At maturity, for each $1,000 note, investors receive: the Maximum Payment Amount of between $1,129.60 and $1,152.00 if Alphabet’s final price is at or above a cap of 106.48%–107.60% of the initial price; a leveraged upside of 200.00% of any positive percentage change if the final price is above the initial price but below the cap; the $1,000 principal if the final price is between 90.00% and 100.00% of the initial price; or a loss of approximately 1.1111% of principal for every 1% decline below 90.00%, down to a total loss.
The notes are subject to TD’s credit risk and are not insured by any government agency. The initial estimated value is expected to be between $960.50 and $990.50 per $1,000, lower than the $1,000 public offering price, reflecting selling costs, hedging and TD’s internal funding rate. Investors do not receive dividends or any shareholder rights in Alphabet and face limited liquidity and potential conflicts of interest because TD and its affiliates may hedge and make markets in the notes.
The Toronto-Dominion Bank is offering unsecured Callable Contingent Interest Barrier Notes linked to the S&P 500® Index. Each Note has a $1,000 principal amount and offers a 7.50% per annum contingent interest rate, paid monthly only when the index closes at or above the Contingent Interest Barrier Value of 4,784.15, which is 70% of the Initial Value of 6,834.50.
TD may, at its discretion, call the Notes in whole on any monthly Call Payment Date starting with the twelfth Contingent Interest Payment Date, returning the $1,000 principal plus any interest due; no further payments would be made after a call. If the Notes are not called and on the Final Valuation Date the index is at or above the Barrier Value of 4,784.15, investors receive their $1,000 principal, plus any contingent interest. If the Final Value is below the Barrier, repayment is reduced one-for-one with the index decline, and investors can lose up to their entire principal.
The total initial offering is $451,000, with an underwriting discount of $2.50 per Note and proceeds to TD of $997.50 per Note. The estimated initial value is $983.90 per Note, below the $1,000 public offering price, and the Notes will not be listed, may have limited liquidity, and are subject to TD’s credit 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 least performing of the Nasdaq-100, Russell 2000 and EURO STOXX 50 indexes. Each Note has a $1,000 principal amount, priced at $1,000, with an estimated value of $973.90 at pricing.
The Notes pay a monthly contingent interest at an annual rate of approximately 10.75%, but only if on each observation date all three indexes are at or above 70% of their respective initial levels. TD may, at its discretion, call the Notes in whole on any monthly call date starting with the third interest payment date, returning principal plus any due interest, after which no further payments are owed.
If the Notes are not called and on the final valuation date any index closes below 70% of its initial level, repayment of principal is reduced one-for-one with the decline of the worst-performing index, down to a potential total loss. The Notes are unsecured obligations of TD, will not be listed, may have limited liquidity, and embed distributor compensation and hedging costs that make the estimated value lower than the public offering price.
The Toronto-Dominion Bank is issuing Capped Contingent Absolute Return Buffered Notes linked to the S&P 500® Index, each with a $1,000 principal amount and maturing on June 24, 2027. The notes offer unleveraged upside if the index rises, but gains are capped at a Maximum Upside Redemption Amount of $1,154.50 per note, a maximum return of 15.45% over principal.
If the index ends between 85.00% and 100% of its initial level, investors earn a positive “contingent absolute return” on small declines, but below the 15.00% buffer losses increase 1% for each additional 1% drop, up to 85.00% of principal. The notes pay no interest, are unsecured senior debt of TD, will not be listed on an exchange, and any payment is subject to TD’s credit risk. TD’s estimated value at pricing was $996.80 per note, less than the $1,000 public offering price, and the U.S. and Canadian tax treatment is described as complex and uncertain.
The Toronto-Dominion Bank is offering senior unsecured notes linked to the S&P 500® Index with a term expected to be 13–15 months. The notes pay no interest and do not guarantee return of principal.
At maturity, for each $1,000 note, investors receive a fixed threshold settlement amount of between $1,077.90 and $1,091.40 if the index final level is at least 90.00% of the initial level. If the index falls below this 90.00% threshold, repayment is reduced using a downside multiplier of approximately 1.1111, so losses accelerate and investors can lose their entire investment.
The initial estimated value is expected to be $956.10–$986.10 per $1,000 note, below the $1,000 public offering price, reflecting fees, hedging and TD’s internal funding rate. The notes will not be listed on any exchange, may have limited or no secondary market, and all payments are subject to TD’s credit risk. U.S. and non-U.S. tax treatment is complex and may differ from the issuer’s intended characterization.
The Toronto-Dominion Bank is offering approximately 3-year senior unsecured notes linked to the S&P 500 Index with a 30% downside buffer and capped upside. Each Note has a $1,000 principal amount and no periodic interest payments.
At maturity, investors receive up to a 32.80% maximum gain (payment of $1,328 per Note) if the index rises enough, full principal back if the index decline stays within the 30% buffer, and a leveraged loss of about 1.4286% for each 1% drop beyond the buffer, which can erase the entire principal. The Notes are unsecured obligations of TD, not insured, will not be listed, and have an estimated value on the pricing date of $945–$980 per $1,000, reflecting dealer compensation, hedging costs and TD’s internal funding rate, as well as complex U.S. and Canadian tax considerations.
The Toronto-Dominion Bank is offering senior unsecured market-linked notes tied to the worst-performing of Eaton, Morgan Stanley and Palo Alto Networks stock, maturing on December 23, 2027. Each $1,000 note pays a 17.10% per annum contingent coupon monthly only if the lowest-performing stock is at or above 70% of its starting price; missed coupons can be paid later if the test is met (memory feature). From March 2026 to November 2027, the notes auto-call at par plus the applicable coupon if the lowest-performing stock is at or above its starting price.
If not called, investors receive $1,000 at maturity only if the lowest-performing stock is at or above 70% of its starting price; otherwise, repayment is proportionally reduced, with losses greater than 30% and up to 100% of principal possible. The estimated value is $945 per $1,000 note, the notes are not listed, and all payments depend on TD’s creditworthiness.
The Toronto-Dominion Bank is offering unsecured Callable Contingent Interest Barrier Notes linked to the worst performer of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. The Notes have a Principal Amount of $1,000 per Note and may pay a Contingent Interest Payment at a per annum rate of at least approximately 7.60%, but only if on each monthly observation date all three indexes are at or above 75% of their Initial Values. TD can, at its discretion, call the Notes in whole on monthly dates starting with the twelfth interest payment date, returning $1,000 per Note plus any due interest, after which no further payments are owed.
If the Notes are not called and on the Final Valuation Date any index closes below 70% of its Initial Value, repayment of principal is reduced 1% for each 1% decline in the worst-performing index, and investors may lose their entire investment. The Notes are not listed, carry TD’s credit risk, have an estimated initial value between $900.00 and $935.00 per $1,000, and entail complex tax and market risks.
The Toronto-Dominion Bank is offering unsecured Capped Buffered Notes linked to the S&P 500 Index. Each Note has a $1,000 Principal Amount and provides unleveraged upside participation, capped at a Maximum Redemption Amount of $1,368.50 per Note, which equals a maximum return of 36.85% at maturity.
Investors are protected by a 10% downside buffer: if the S&P 500 Final Value is down by up to 10% from the Initial Value of 6,800.26, they receive back their full principal. If the index falls more than 10%, the Notes lose 1% of principal for each additional 1% decline, and up to 90% of principal can be lost. The Notes pay no interest, are senior unsecured debt of TD, and all payments are subject to TD’s credit risk.
The public offering price is $1,000 per Note, with an underwriting discount of $3 and proceeds to TD of $997 per Note, for a $500,000 total offering. The estimated value on the pricing date was $994.50 per Note, below the offering price, reflecting selling, structuring and hedging costs. The Notes will not be listed on any securities exchange and may have limited or no secondary market liquidity.
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 may pay a contingent interest of at least approximately 8.00% per annum, paid monthly only if on each observation date all three indices are at or above 75% of their initial level. TD can call the Notes monthly starting on the sixth interest payment date, returning principal plus any due interest, after which no further payments are made.
If the Notes are not called, at maturity investors receive $1,000 only if each index is at or above 70% of its initial level; otherwise the payoff 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, will not be listed on an exchange, and have an estimated value of $920–$955 per $1,000 at pricing, below the public offering price, reflecting fees, hedging and funding costs.
The Toronto-Dominion Bank plans to issue senior unsecured Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The Notes target a Contingent Interest Rate of at least approximately 10.00% per annum, paid monthly only when, on each observation date, all three indices are at or above 75.00% of their Initial Values.
TD may, at its discretion, call the Notes in whole on any monthly Call Payment Date starting with the sixth interest payment date, returning the $1,000 Principal Amount per Note plus any due interest, after which no further amounts are owed. If the Notes are not called, and on the Final Valuation Date all indices are at or above 70.00% of their Initial Values, investors receive full principal back plus any contingent interest.
If any index finishes below its 70.00% Barrier Value at maturity, repayment is reduced by the percentage decline of the worst-performing index, and investors can lose up to their entire principal. The estimated value on the pricing date is expected to be $940.00–$975.00 per $1,000 Note, and the Notes are expected to be illiquid, subject to TD’s credit risk and complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering unsecured Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indexes. The Notes pay a contingent annual interest rate of at least approximately 6.85%, but only for months when the closing value of each 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 monthly starting with the twelfth interest payment date, returning principal plus any due interest, after which no further amounts are owed. If the Notes are not called and any index finishes below 60% of its initial level at maturity in January 2031, repayment of principal is reduced one‑for‑one with the worst index’s decline, up to a total loss of the $1,000 principal. The Notes are not listed, carry TD’s credit risk, and have an estimated initial value of $895–$930 per $1,000, below the public offering price.
The Toronto-Dominion Bank is offering leveraged barrier Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. Each Note has a $1,000 Principal Amount, a leverage factor of at least 173.00% on positive performance of the least performing index, and a barrier set at 70.00% of each index’s Initial Value.
If every index finishes above its Initial Value, investors receive principal plus leveraged gains based on the least performing index. If any index finishes at or below its Initial Value but all stay at or above the 70% barrier, investors receive only their principal back. If any index closes below its barrier, investors lose 1% of principal for each 1% decline of the least performing index and can lose their entire investment. The Notes pay no interest, are unsecured senior debt of TD, are not listed on an exchange, and are scheduled to mature on January 3, 2031. The estimated value at pricing is expected to be between $900.00 and $935.00 per $1,000 Note, below the public offering price.
The Toronto-Dominion Bank is offering 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 3, 2027, and may be called monthly by TD starting on the third interest payment date at par plus any due contingent interest.
The Notes pay a contingent interest rate of at least approximately 9.10% per annum, paid monthly only if on each observation date all three indexes are at or above 70% of their initial values$915–$950 per Note, below the $1,000 public offering price.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index. The Notes pay a monthly Contingent Interest Payment at a per annum rate of at least 11.10% only when, on each observation date, the closing value of every index is at or above 70.00% of its Initial Value. TD may redeem the Notes early, in whole, on monthly Call Payment Dates starting with the third Contingent Interest Payment Date, returning the $1,000 Principal Amount 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 finishes below 70.00% of its Initial Value, the payout at maturity is reduced dollar-for-dollar 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 expected between $935.00 and $970.00 per $1,000 Note, the Notes are unsecured obligations of TD, and they are not listed, so liquidity and resale prices may be limited.
The Toronto-Dominion Bank plans to issue 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 may pay contingent interest at a per annum rate of at least approximately 8.95%, but only if on each observation date all three indices are at or above 75% of their initial levels. TD can, at its discretion, call the Notes monthly starting on the twelfth interest payment date, returning principal plus any due interest.
If the Notes are not called and on the final valuation date any index is below 65% of its initial level, repayment is reduced in line with the decline of the worst-performing index, up to a total loss of principal. The Notes are unsecured senior debt of TD, will not be listed on an exchange, and have an estimated initial value between $925 and $960 per $1,000 Note, below the public offering price.
The Toronto-Dominion Bank is offering leveraged barrier notes linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index. Each note has a $1,000 principal amount, a leverage factor of at least 155.45% on the positive return of the worst-performing index, and matures on January 3, 2031.
If the final value of every index is above its initial value, investors receive $1,000 plus the leveraged gain based on the least performing index. If any index is at or below its initial value but all remain at or above 70% of their initial values, investors receive only the $1,000 principal. If any index finishes below 70% of its initial value, repayment is reduced one-for-one with the loss of the worst index and investors can lose their entire investment.
The notes pay no interest, are unsecured senior debt of TD, will not be listed on any exchange, and carry TD credit risk. The estimated value on the pricing date is expected to be $875–$910 per $1,000 note, below the public offering price.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes linked to the worst performer of Oracle, PayPal and Walmart common stock. Each Note has a $1,000 principal and targets a 21.00% per annum contingent interest, paid monthly only if on each observation date the closing value of every stock is at or above 60% of its initial value. The Notes are automatically called if, on any call date, all three stocks are at or above 100% of their initial values, in which case investors receive $1,000 plus the applicable interest and no further payments.
If the Notes are not called and, on the final valuation date, any stock closes below 50% of its initial value, repayment of principal is reduced 1% for each 1% decline in the worst-performing stock, down to a possible total loss. The Notes are senior unsecured obligations of TD, are not insured, and will not be listed on an exchange. The estimated value on the pricing date is expected to be $900–$935 per Note, below the $1,000 public offering price, reflecting selling costs, structuring and hedging. The issuer and its affiliates may engage in hedging and market-making, and describe complex U.S. and Canadian tax treatments for U.S. holders.
The Toronto-Dominion Bank is offering Autocallable Contingent Interest Barrier Notes with Memory Interest linked to the least performing of IWM, QQQ and SPY. The Notes have a 9.00% per annum contingent interest rate, payable quarterly only if on the observation date each ETF is at or above its contingent interest barrier, set at 65.00% of its Initial Value. The Notes are automatically called if, on a call observation date, each ETF is at or above 100.00% of its Initial Value, in which case investors receive the $1,000 principal plus any due and unpaid interest.
If the Notes are not called and on the Final Valuation Date any ETF closes below its 65.00% barrier, repayment of principal is reduced one-for-one with the decline of the least performing ETF, and investors can lose their entire investment. The estimated value on the pricing date was $983.60 per Note versus a $1,000 public offering price, and the total initial offering is $1,400,000. Payments depend on TD’s credit and the Notes will not be listed on an exchange.
The Toronto-Dominion Bank is offering senior unsecured 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 have an expected term of 26 to 29 months, pay no interest and are not principal-protected.
At maturity, investors receive leveraged upside of 250.00% of the basket’s gain, capped by a maximum payment amount of $1,251.00 to $1,295.00 per $1,000. A 15.00% downside buffer applies; below 85.00% of the initial basket level, losses accelerate at approximately 117.65% of further declines and investors can lose their entire principal.
The initial estimated value is expected to be $961.60 to $991.60 per $1,000, below the public offering price, reflecting TD’s internal funding rate, hedging costs and dealer compensation. The notes will not be listed, may have limited liquidity and are subject to TD’s credit risk and complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering senior unsecured Market Linked Securities, Series H, tied to the worst performer of Broadcom and NVIDIA common stock, maturing on December 23, 2027. Each security has a $1,000 face amount and pays a 16.90% per annum contingent coupon, but only if on each monthly calculation day the lowest performing stock is at or above its coupon threshold (60% of its starting price).
The notes are auto-callable monthly from June 2026 through November 2027 if the lowest performing stock is at or above its starting price, in which case holders receive $1,000 plus the applicable coupon and the notes terminate early. If not called, at maturity investors receive $1,000 only if the lowest performer is at or above its downside threshold (50% of its starting price); otherwise the payoff is $1,000 multiplied by that stock’s performance, exposing investors to losses greater than 50% and potentially a total loss of principal.
The securities are senior unsecured obligations of TD, not insured by CDIC or FDIC, will not be listed on any exchange, and have an estimated value of $943.90 per $1,000 at pricing, below the original offering price. The tax treatment is complex, with U.S. investors expected to treat them as prepaid derivative contracts with ordinary income on coupons, and they are described as not appropriate for non-U.S. holders.
The Toronto-Dominion Bank is offering senior unsecured notes linked to the EURO STOXX 50® Index. The notes have a $1,000 principal amount, a term expected to be between 17 and 20 months, and pay no interest.
At maturity, if the index final level is at or above the threshold level of 87.50% of the initial level, investors receive a fixed Threshold Settlement Amount between $1,109.20 and $1,128.40 per $1,000, locking in a capped positive return even if the index rises substantially.
If the final level is below the threshold level, the payout falls below principal. Losses increase at a downside multiplier of approximately 1.1429, so a decline of more than 12.50% from the initial level can lead to significant, up to 100%, loss of principal.
The initial estimated value is expected to be between $961.80 and $991.80 per $1,000, lower than the public offering price, reflecting structuring, hedging costs and dealer compensation. The notes are unsecured obligations of TD, are not FDIC- or CDIC-insured, and are not listed, so any secondary market may be limited and at prices below the public offering price.
The Toronto-Dominion Bank is offering Senior Debt Securities, Series H, in the form of auto-callable notes linked to the common stock of Fluor Corporation (FLR). Each Note has a $1,000 principal amount with a minimum investment of $10,000 and a term of about 54 weeks, maturing on January 6, 2027, subject to automatic call.
On quarterly Review Dates, if FLR’s closing price is at or above the $41.30 Initial Price, the Notes are automatically called and pay back principal plus a contingent interest payment of $44.125 per $1,000, including any previously unpaid contingent interest under the “memory” feature. If not called, contingent interest is paid only when FLR closes at or above the Barrier Price of $26.845 (65% of the Initial Price.
If the Notes are not called and FLR’s Final Price on the last Review Date is below the Barrier Price, repayment at maturity is reduced dollar-for-dollar with FLR’s loss from the Initial Price, and investors can lose up to their entire principal. The estimated value on the pricing date is expected to be $940–$975 per Note, less than the $1,000 public offering price. The Notes are unsecured obligations of TD, will not be listed on an exchange, involve TD credit risk, limited liquidity, potential conflicts of interest, and complex, uncertain U.S. and Canadian tax treatment, including 30% U.S. withholding on contingent interest for many non-U.S. holders.
The Toronto-Dominion Bank is offering Capped Buffered Notes linked to the S&P 500® Index. Each Note has a $1,000 principal amount, a Strike Date of December 16, 2025, and matures on January 22, 2027. The Notes provide unleveraged upside to the index, but the payoff is capped at a Maximum Redemption Amount of $1,154.00 per Note, which represents a maximum gain of 15.40% over principal.
Investors are protected against the first 10.00% of index losses via a buffer: if the S&P 500® Final Value is between 90.00% and 100.00% of the Initial Value of 6,800.26, holders receive back their $1,000 principal. If the Final Value falls below the Buffer Value of 6,120.234, investors lose 1% of principal for each 1% index decline beyond that buffer, and can lose up to 90.00% of their investment.
The Notes pay no interest, are unsecured senior debt of TD, are not insured by any deposit insurer, and will not be listed on an exchange. The public offering price is $1,000.00 per Note, with an underwriting discount of $3.00 and proceeds to TD of $997.00 per Note, for a total offering of $500,000.00. TD’s estimated value on the pricing date is $995.50 per Note, below the public price, reflecting structuring and hedging costs. U.S. tax counsel views it as reasonable to treat the Notes as prepaid derivative contracts, but the tax outcome is uncertain, and investors are urged to consult their own advisors.
The Toronto-Dominion Bank is offering Callable Contingent Interest Barrier Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index. Each Note has a $1,000 principal amount and may pay contingent monthly interest at an annual rate of approximately 11.20%, but only when on the relevant observation date each index is at or above 70.00% of its initial level. If any index is below its barrier on an observation date, no interest is paid for that period.
TD may, at its discretion, call the Notes monthly starting on the third interest payment date, paying $1,000 per Note plus any due interest, after which no further amounts are owed. If the Notes are not called and on the final valuation date any index is below 70.00% of its initial level, repayment of principal is reduced 1% for each 1% decline of the worst-performing index, down to a possible total loss. Payments depend on TD’s credit, and the Notes are unsecured, not insured and not exchange-listed. The estimated value on the pricing date is expected to be between $940.00 and $975.00 per $1,000 Note, less than the public offering price.
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, in a $2,031,000 offering at $1,000 per Note.
The Notes may pay monthly contingent interest at an annual rate of approximately 10.90% only if, on each observation date, all three indices are at least 70% of their initial levels. TD can redeem the Notes in whole, at its discretion, on monthly call dates starting with the third interest payment date, returning principal plus any due interest.
If the Notes are not called, principal repayment at maturity on December 21, 2028 depends on the final level of each index. Full principal is repaid only if every index is at least 60% of its initial level; otherwise, investors lose 1% of principal for each 1% decline in the worst-performing index and could lose their entire investment. The Notes are not listed, are subject to TD’s credit risk, and had an estimated value of $973.70 per Note at pricing, below the public offering price.
The Toronto-Dominion Bank is offering senior unsecured Capped Buffered Notes linked to the S&P 500® Index. Each Note has a $1,000 principal amount, with a maximum redemption of $1,236 (a 23.60% cap) at maturity on June 24, 2027, based on the index level on the June 21, 2027 valuation date.
Investors receive full principal back if the index finish is between 90% and 100% of the initial level of 6,800.26, thanks to a 10% buffer. Below the 90% buffer value of 6,120.234, principal is reduced 1% for each 1% additional decline, up to a maximum 90% loss. The Notes pay no interest, are not listed, and are subject to TD’s credit risk. The public offering price is $1,000 per Note, with an estimated value of $994.90, reflecting structuring and hedging costs.
The Toronto-Dominion Bank is offering senior unsecured Autocallable Contingent Interest Barrier Notes with Memory Interest linked to the least-performing of three ETFs: iShares Russell 2000 (IWM), Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY). The Notes pay a contingent coupon at a 9.00% per annum rate (2.25% per quarter) only if, on each observation date, every ETF closes at or above its contingent interest barrier, set at 70% of its initial value. The Notes are automatically called if, on a call observation date, all ETFs are at or above 100% of their initial values, returning the $1,000 principal plus due and "memory" coupons. If the Notes are not called and on the final valuation date any ETF finishes below its 70% barrier, repayment of principal is reduced one-for-one with the decline of the worst-performing ETF, potentially to zero. The estimated value on the pricing date is $978.40 per $1,000 Note, the Notes will not be listed, and all payments are subject to TD’s credit risk.
The Toronto-Dominion Bank is offering unsecured, zero-coupon structured notes linked to the S&P 500® Index, with a term expected to be 14–16 months. At maturity, each $1,000 note pays based on index performance from the pricing date to a single valuation date. If the index rises, investors earn 160% of the index gain, but the payment is capped at a maximum of $1,137.28–$1,161.44 per $1,000, limiting total return to about 13.728%–16.144%.
If the index falls up to 10%, investors receive their $1,000 principal. Below this 10% buffer, principal is reduced by about 1.1111% for every additional 1% index decline, and investors can lose their entire investment. The notes do not pay interest, are not insured by any government agency, will not be listed on an exchange, and are subject to TD’s credit risk. The initial estimated value is expected to be $966.70–$996.70 per $1,000, below the public offering price, reflecting fees, hedging costs and TD’s internal funding rate.
The Toronto-Dominion Bank is offering $11,269,000 of Callable Contingent Income Securities linked to the S&P 500® Index, maturing on December 21, 2027. Each security has a $1,000 stated principal amount and may pay a contingent quarterly coupon of $20.15 (equivalent to 8.06% per annum) if on the relevant determination date the index closing value is at least 80.00% of the 6,800.26 initial index value, the coupon threshold level. TD can redeem the notes in whole on any coupon date (other than maturity) at $1,000 plus any due coupon, regardless of index performance.
If the notes are not called and the final index value is at least the 80.00% downside threshold level of 5,440.208, investors receive $1,000 plus any final coupon. If the final index value is below this threshold, repayment is reduced 1-to-1 with the index decline and can be zero, so investors may lose their entire principal. Investors do not participate in any upside of the index beyond coupons. The notes are unsecured senior debt of TD, not listed on any exchange, and their estimated value on the pricing date is $978.00 per $1,000 security, below the public offering price.
The Toronto-Dominion Bank is offering $820,000 of Performance Leveraged Upside Securities (PLUS), senior unsecured notes linked to the Russell 2000 ae Index, maturing on April 5, 2027. Each PLUS has a stated principal amount and issue price of $1,000 and pays no coupons or dividends.
At maturity, if the index is above the initial level of 2,519.304, investors receive $1,000 plus 300% of the index gain, capped at a maximum payment of $1,207.60 per PLUS, a 20.76% maximum gain. If the index is flat, investors receive only the $1,000 principal. If the index is below the initial level, investors lose 1% of principal for every 1% index decline, with no minimum payment, so the entire investment can be lost.
The PLUS are subject to TD 27s credit risk, are not insured by any government agency, and will not be listed on any exchange. The estimated value on the pricing date was $974.80 per PLUS, below the $1,000 public offering price, reflecting fees, hedging and funding costs.
The Toronto-Dominion Bank is offering Capped Contingent Absolute Return Buffered Notes linked to the S&P 500® Index, each with a $1,000 principal amount and maturing on June 29, 2028. The Notes provide unleveraged exposure to S&P 500 price moves, with a maximum payment of $1,236.50 per Note, capping upside at 23.65%. They feature a 20.00% downside buffer: if the index ends between 80.00% and 100.00% of its initial level, investors receive a positive "contingent absolute" return equal to the magnitude of the index move. If the index falls below 80.00% of its initial level, investors lose 1% of principal for each 1% decline beyond the 20.00% buffer, for a possible loss of up to 80.00% of principal.
The Notes pay no interest, are senior unsecured obligations of TD, and are not insured by any government agency. The estimated value on the pricing date is expected to be $955.00–$990.00 per Note, below the $1,000 public offering price, reflecting structuring, distribution and hedging costs. An underwriting discount of up to $7.50 per Note will be paid, and the Notes will not be listed on any exchange, so liquidity will depend on dealer market-making.
The Toronto-Dominion Bank is offering senior unsecured market-linked notes that pay no interest and return a variable amount at maturity based on an equity basket of Amazon, NVIDIA and Microsoft, each weighted at roughly one-third. Each security has a $1,000 face amount, with an upside participation rate of 125% of any basket gain, capped at a 31.00% maximum return, so the most an investor can receive at maturity is $1,310 per security.
The notes include a 15% downside buffer: if the basket decline is 15% or less, investors receive their full principal back. If the basket falls more than 15%, investors lose 1% of principal for each additional 1% drop, and may lose up to 85% of the face amount. The starting level is 100, the threshold level is 85, and the notes mature on December 22, 2027.
The securities are issued at $1,000 but had an estimated value of $956.90 at pricing, reflecting structuring and hedging costs. They are not listed on any exchange, may have limited or no secondary market, and all payments depend on TD’s credit as senior unsecured debt.
The Toronto-Dominion Bank is offering callable contingent interest barrier notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. Each Note has a $1,000 principal amount, pays a contingent interest rate of approximately 7.10% per annum and matures on December 20, 2030, unless TD calls the Notes early.
Contingent interest is paid monthly only if on each observation date every index is at or above its contingent interest barrier, set at 75% of its initial value. At maturity, if the Notes have not been called and any index is below its 60% barrier, repayment of principal is reduced one-for-one with the decline of the worst-performing index, and investors can lose their entire investment.
TD may, at its discretion, call the Notes monthly starting with the twelfth interest payment date, returning principal plus any due interest. The Notes are unsecured obligations subject to TD’s credit risk, will not be listed, and had an estimated value of $931.60 per Note versus a $1,000 public offering price, reflecting selling costs and hedging-related factors.
The Toronto-Dominion Bank is offering Leveraged Contingent Absolute Return Barrier Notes linked to the S&P 500® Index. Each Note has a $1,000 principal amount, a Pricing Date of December 23, 2025 and matures on December 27, 2030.
The Notes provide 101.75% leveraged upside if the index finishes above its initial level. If the index is at or below the initial level but at least 70% of it, investors receive a positive “contingent absolute return” on the size of the decline, capped at a 30% gain. If the index closes below 70% of the initial level, repayment is reduced one-for-one with the index loss and investors can lose their entire principal.
The Notes pay no interest, are unsecured senior debt of TD, and are not listed on any exchange. The estimated value on the pricing date is expected between $950 and $985 per $1,000 Note, reflecting selling costs and TD’s internal funding rate. Returns also depend on TD’s credit and complex U.S. and Canadian tax treatment.
The Toronto-Dominion Bank is offering $258,000 of 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 and pays a contingent coupon at 10.95% per annum only if, on a monthly observation date, the closing value of each index is at or above 70% of its initial level.
TD can redeem the Notes in whole, at its discretion, on monthly call dates starting with the third coupon date, returning principal plus any due interest. If the Notes are not called and, at maturity on November 22, 2027, any index is below 70% of its initial level, repayment is reduced one-for-one with the decline of the worst-performing index, down to a total loss of principal. The Notes are unsecured senior debt, will not be listed on an exchange, and had an estimated value of $964.70 per Note at pricing versus a $1,000 public offering price.
The Toronto-Dominion Bank is offering senior unsecured structured notes linked to the S&P 500® Index with a term expected between 15 and 17 months. The notes pay no interest and your return depends on the index level on a single valuation date near maturity.
For each $1,000 note, if the index rises, you earn 120% of the index gain, but your payment is capped at a maximum amount expected to be between $1,131.16 and $1,153.84. If the index falls by up to 10%, you receive $1,000 back. If it falls by more than 10%, you lose about 1.1111% of principal for each additional 1% decline, and you could lose your entire investment.
The initial estimated value is expected to be between $954.60 and $984.60 per $1,000, below the public offering price of $1,000, reflecting structuring, hedging costs and dealer compensation. The notes are TD’s unsecured obligations, are not insured, will not be listed on an exchange, and their market value and liquidity may be limited.