道明银行美股招股说明书(2026-05-07版)

The information in this preliminary pricing supplement is not complete and may be changed. We may not sell these Notes until the pricing supplement, the accompanying productsupplement, the underlier supplement and the accompanying prospectus (collectively, the “Offering Documents”) are delivered in final form. The Offering Documents are not an offer to sellthese Notes and we are not soliciting offers to buy these Notes in any state where the offer or sale is not permitted. Subject to CompletionPRELIMINARY PRICING SUPPLEMENTDated May 6, 2026Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-283969(To Prospectus dated February 26, 2025,Underlier Supplement dated February 26, 2025and Product Supplement MLN-EI-1 dated February 26, 2025)The Toronto-Dominion Bank $• Trigger Autocallable Contingent Yield Notes Linked to the least performing of the S&P 500®Index and the EURO STOXX 50® Index due on or about May 9, 2036 Investment Description The Toronto-Dominion Bank Trigger Autocallable Contingent Yield Notes (the “Notes”) are senior, unsecured debt obligations issued by The Toronto-Dominion Bank (“TD” or the “issuer”) linked to the leastperforming of the S&P 500®Index and the EURO STOXX 50®Index (each an “underlying asset” and together the “underlying assets”). If the closing level of each underlying asset is equal to or greaterthan its coupon barrier on an observation date (including the final valuation date), TD will pay you a contingent coupon on the related coupon payment date. If the closing level of any underlying asset isless than its coupon barrier on an observation date, no contingent coupon will be paid for the related coupon payment date. TD will automatically call the Notes early if the closing level of each underlyingasset on any observation date (beginning after 12 months) prior to the final valuation date is equal to or greater than its call threshold level, which is a level of each underlying asset equal to a percentageof its initial level, as indicated below. If the Notes are subject to an automatic call, TD will pay you on the coupon payment date corresponding to such observation date (the “call settlement date”) a cashpayment per Note equal to the principal amount plus any contingent coupon otherwise due, and no further payments will be made on the Notes. If the Notes are not subject to an automatic call and thefinal level of each underlying asset is equal to or greater than its downside threshold, at maturity, TD will pay you a cash payment per Note equal to the principal amount. If the Notes are not subject to anautomatic call and the final level of any underlying asset is less than its downside threshold, at maturity, TD will pay you a cash payment per Note that is less than the principal amount, if anything, resultingin a percentage loss on your initial investment equal to the percentage decline in the closing level of the underlying asset with the lowest underlying return (the “least performing underlying asset”) from itsinitial level to its final level over the term of the Notes and, in extreme situations, you could lose all of your initial investment.Investing in the Notes involves significant risks. You will lose a significantportion or all of your initial investment if the Notes are not subject to an automatic call and the final level of any underlying asset is less than its downside threshold. You may not receiveany contingent coupons during the term of the Notes. You will be exposed to the market risk of each underlying asset on each observation date, including the final valuation date, and anydecline in the level of one underlying asset may negatively affect your return and will not be offset or mitigated by a lesser decline or any potential increase in the level of any otherunderlying asset. Higher contingent coupon rates are generally associated with a greater risk of loss. The contingent repayment of principal only applies if you hold the Notes until thematurity date. Any payment on the Notes, including any repayment of principal, is subject to the creditworthiness of TD. If TD were to default on its obligations, you may not receive anyamounts owed to you under the Notes and you could lose all of your initial investment. Key Dates* Features ❑Potential for Periodic Contingent Coupons— TD will pay a contingent coupon on the relatedcoupon payment date if the closing level of each underlying asset is equal to or greater than itscoupon barrier on an observation date (including the final valuation date). Otherwise, if theclosing level of any underlying asset is less than its coupon barrier on an observation date, nocontingent coupon will be paid for the related coupon payment date. Trade Date**Settlement Date**Observation DatesFinal Valuation DateMaturity Date May 7, 2026May 12, 2026Quarterly (callable after 12 months) (see page 4)May 7, 2036May 9, 2036 ❑Automatic Call Feature— TD will automatically call the Notes and pay you the principalamount of your Notes plus