道明银行美股招股说明书(2026-05-01版)

The information in this pricing supplement is not complete and may be changed. This pricing supplement is not an offer to sell nor does it seek anoffer to buy these securities in any state where the offer or sale is not permitted.PRELIMINARY PRICING SUPPLEMENTSubject To Completion,dated May 1, 2026Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-283969(To Product Supplement MLN-WF-1 dated February 26, 2025and Prospectus dated February 26, 2025)The Toronto-Dominion Bank Market Linked Securities—Auto-Callable with Fixed Coupon and Geared Buffer DownsidePrincipal at Risk Securities Linked to the common stock of Palantir Technologies Inc. due May 15, 2028 ■Linked to the common stock of Palantir Technologies Inc. (the “Underlying Stock”)■Unlike ordinary debt securities, the securities do not repay a fixed amount of principal at stated maturity and are subject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities are automatically called prior to stated maturity and, if they are not automaticallycalled, whether you receive the face amount of your securities at stated maturity will depend, in each case, on the stock closing price of the UnderlyingStock on the relevant call date or the final calculation day, as applicable.■QuarterlyFixed Coupon.The securities will pay a fixed coupon on a quarterly basis until the earlier of stated maturity or automatic call. The coupon rate willbe determined on the pricing date and will be at least 13.00% per annum.■Automatic Call.If the stock closing price of the Underlying Stock on any of the quarterly call dates from November 2026 to February 2028, inclusive, isgreater than or equal to the starting price, the securities will be automatically called for the face amount plus a final fixed coupon payment.■Potential Loss of Principal.If the securities are not automatically called prior to stated maturity, you will receive the face amount at stated maturity if,andonly if, the stock closing price of the Underlying Stock on the final calculation day is greater than or equal to the downside threshold price. If the stockclosing price of the Underlying Stock on the final calculation day is less than the downside threshold price, we will deliver to you at maturity a number ofshares of the Underlying Stock equal to the face amountdivided bythe downside threshold price (the “share delivery amount”), which is expected to beworth less than your face amount and may have no value at all.■The downside threshold pricefor the Underlying Stock is equal to 80% of the starting price.■If the securities are not automatically called prior to stated maturity, you will have downside exposure to the Underlying Stock on a leveraged basis from thestarting price if the stock closing price on the final calculation day is less than the downside threshold price, but you will not participate in any appreciation ofthe Underlying Stock and will not receive any dividends on the Underlying Stock.■All payments on the securities are subject to the credit risk of The Toronto-Dominion Bank (the “Bank”).■No exchange listing; designed to be held to maturity The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected RiskConsiderations” beginning on page P-10 herein and “Risk Factors” beginning on page PS-5 of the accompanying product supplement and on page 1 of the accompanyingprospectus. The securities are senior unsecured debt obligations of the Bank, and, accordingly, all payments are subject to credit risk. The securities are not insured by the CanadaDeposit Insurance Corporation pursuant to the Canada Deposit Insurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation or any othergovernmental agency of Canada, the United States or any other jurisdiction. Neither the U.S. Securities and Exchange Commission nor any state securities commission or other regulatory body has approved or disapproved of these securities orpassed upon the accuracy or adequacy of this pricing supplement or the accompanying product supplement and prospectus. Any representation to the contrary is acriminal offense.(1) (1)The Agents may receive a commission of up to $23.25 (2.325%) per security and may use a portion of that commission to allow selling concessions to other dealers inconnection with the distribution of the securities, or will offer the securities directly to investors. The Agents may resell the securities to other securities dealers at theoriginal offering price less a concession not in excess of $17.50 (1.75%) per security. Such securities dealers may include Wells Fargo Advisors (“WFA”, the trade nameof the retail brokerage business of Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC), an affiliate of Wells Fargo Securities, LLC(“Wells Fargo Securities”). The other dealers may forgo, in th