道明银行美股招股说明书(2026-04-02版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and theaccompanying product supplement, underlier supplement, prospectus supplement and prospectus are not an offer to sell nor does it seekthese securities and we are not soliciting an offer to buy these securities in any state where the offer or sale is not permitted. PRELIMINARY PRICING SUPPLEMENTSubject to Completion, dated April 2, 2026Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-283969(To Product Supplement MLN-WF-1 dated February 26, 2025,Underlier Supplement dated February 26, 2025and Prospectus dated February 26, 2025)The Toronto-Dominion Bank Principal at Risk Securities Linked to the Lowest Performing of the Nasdaq-100 Index®, theRussell 2000®Index and the S&P 500®Index due April 12, 2029■Linked to thelowest performingof the Nasdaq-100 Index®, the Russell 2000®Index and the S&P 500®Index (each referred to as an “Index”) ■Unlike ordinary debt securities, the securitiesdo not provide for fixed payments of interest and do not repay a fixed amount of principal at stated maturity. Whether thesecurities pay a contingent coupon payment and, if they are not redeemed prior to maturity, whether you receive the face amount of your securities at stated maturitywill depend, in each case, on the performance of the lowest performing Index as described below. The lowest performing Index on any eligible trading day during anobservation period (including on the final calculation day) is the Index that has the lowest closing level on that day as a percentage of its starting level■Contingent Coupon.The securities will pay a contingent coupon payment with respect to each quarterly observation period until the earlier of stated maturity or earlier redemption if,and only if, the closing level of the lowest performing Index on each eligible trading day during such observation period is greater than or equal to itscoupon threshold level. However, if the closing level of the lowest performing Index on any eligible trading day during an observation period is less than its couponthreshold level, you will not receive any contingent coupon payment with respect to that observation period.This will be the case even if the closing level of thelowest performing Index is greater than or equal to its coupon threshold level on one or more other eligible trading days during that observation period,and even if the better performing Indices perform favorably. If the closing level of at least one Index is less than its coupon threshold level on one or more eligibletrading days during each observation period, you will not receive any contingent coupon payments throughout the entire term of the securities. The coupon thresholdlevel for each Index is equal to 70% of its starting level. The contingent coupon rate will be determined on the pricing date and will be at least 12.60% per annum■Optional Redemption.The Bank may, at its option, redeem the securities on any contingent coupon payment date beginning approximately three months after issuance. If the Bank elects to redeem the securities prior to maturity, you will receive the face amount of your securities plus any contingent coupon payment otherwisedue■Potential Loss of Principal.If the Bank does not redeem the securities prior to stated maturity, you will receive the face amount at stated maturity if,and only if, the closing level of the lowest performing Index on the final calculation day is greater than or equal to its downside threshold level. If the closing level of the lowestperforming Index on the final calculation day is less than its downside threshold level, you will lose more than 40%, and possibly all, of the face amount of yoursecurities. The downside threshold levelfor each Index is equal to 60% of its starting level■If the Bank does not redeem the securities prior to stated maturity, you will have full downside exposure to the lowest performing Index from its starting level if its closing level on the final calculation day is less than its downside threshold level, but you will not participate in any appreciation of any Index and will not receive any dividendson securities included in any Index■Your return on the securities will dependsolelyon the performance of the Index that is the lowest performing Index on each eligible trading day during the observation The estimated value of the securities at the time the terms of your securities are set on the pricing date is expected to be between $940.00 and $975.00 persecurity, as discussed further under “Selected Risk Considerations— Risks Relating To The Estimated Value Of The Securities And Any Secondary Market”beginning on page P-13 and “Estimated Value of the Securities” herein. The estimated value is expected to be less than the original offering price of thesecurities.The securities have complex features and investing in the securities involves risks not associated with