道明银行美股招股说明书(2025-09-22版)

Pricing Supplement dated September 18, 2025 to theProduct Supplement MLN-ES-ETF-1 dated February 26, 2025 andProspectus dated February 26, 2025 The Toronto-Dominion Bank $563,000Callable Contingent Interest Barrier Notes Linked to the common stock of Atlassian Corporation Due September 21,2028 The Toronto-Dominion Bank (“TD” or “we”) has offered the Callable Contingent Interest Barrier Notes (the “Notes”) linked to the common stock of Atlassian Corporation (the“Reference Asset”). The Notes will pay a Contingent Interest Payment on a Contingent Interest Payment Date (including the Maturity Date) at a per annum rate of 18.00% (the “Contingent InterestRate”) only if, on the related Contingent Interest Observation Date, the Closing Value of the Reference Asset is greater than or equal to the Contingent Interest Barrier Value,which is equal to 60.00% of the Initial Value. If, however, the Closing Value of the Reference Asset is less than the Contingent Interest Barrier Value on a Contingent InterestObservation Date, no Contingent Interest Payment will accrue or be payable on the related Contingent Interest Payment Date. TD may, in its discretion, elect to call the Notes (an “Issuer Call”) in whole, but not in part, on any Call Payment Date (monthly, commencing on the sixth Contingent InterestPayment Date and other than the Maturity Date) upon at least three Business Days’ prior written notice, regardless of the Closing Value of the Reference Asset. If TD elects tocall the Notes prior to maturity, the Call Payment Date will be the corresponding Contingent Interest Payment Date and, on such date, we will pay you a cash payment perNote equal to the Principal Amount, plus any Contingent Interest Payment otherwise due. No further amounts will be owed under the Notes following an Issuer Call. If TD does not elect to call the Notes prior to maturity, the amount we pay at maturity, in addition to any Contingent Interest Payment otherwise due, if anything, will depend onthe Closing Value of the Reference Asset on the Final Valuation Date (the “Final Value”) relative to the Barrier Value, which is equal to 50.00% of the Initial Value, calculated asfollows: •If the Final Value is greater than or equal to the Barrier Value: the Principal Amount of $1,000•If the Final Value is less than the Barrier Value: the sum of (1) $1,000 plus (2) the product of (i) $1,000 times (ii) the Percentage Change If TD does not elect to call the Notes prior to maturity and the Final Value is less than the Barrier Value, investors will suffer a percentage loss on their initialinvestment that is equal to the percentage decline of the Reference Asset from the Initial Value to the Final Value. Specifically, investors will lose 1% of thePrincipal Amount of the Notes for each 1% that the Final Value is less than the Initial Value, and may lose the entire Principal Amount.Any payments on the Notesare subject to our credit risk. The Notes do not guarantee the payment of any Contingent Interest Payments or the return of the Principal Amount. If the Final Value is less than the BarrierValue, investors may lose up to their entire investment in the Notes. Any payments on the Notes are subject to our credit risk. The Notes are unsecured and are not savings accounts or insured deposits of a bank. The Notes are not insured or guaranteed by the Canada Deposit Insurance Corporation,the U.S. Federal Deposit Insurance Corporation or any other governmental agency or instrumentality of Canada or the United States. The Notes will not be listed or displayedon any securities exchange or electronic communications network. Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these Notes or determinedthat this pricing supplement, the product supplement or the prospectus is truthful or complete. Any representation to the contrary is a criminal offense. We will deliver the Notes in book-entry only form through the facilities of The Depository Trust Company on the Issue Date against payment in immediately available funds.The estimated value of your Notes at the time the terms of your Notes were set on the Pricing Date was $973.90 per Note, as discussed further under “Additional Risk Factors— Risks Relating to Estimated Value and Liquidity” beginning on page P-8 and “Additional Information Regarding the Estimated Value of the Notes” on page P-18 of thispricing supplement. The estimated value is less than the public offering price of the Notes.11 22 1Certain dealers who purchase the Notes for sale to certain fee-based advisory accounts may have agreed to forgo some or all of their selling concessions, fees orcommissions. The public offering price for investors purchasing the Notes in these accounts may have been as low as $995.00 (99.50%) per Note. 2TD Securities (USA) LLC (“TDS”) will receive a commission of up to $5.00 (0.50%) per Note and will use all of that commission to allow sellin