道明银行美股招股说明书(2026-05-12版)

The Toronto-Dominion Bank $548,000Capped Notes Linked to the Least Performing of the Russell 2000®Index and the S&P 500®Index Due May 11, 2028 The Toronto-Dominion Bank (“TD” or “we”) has offered the Capped Notes (the “Notes”) linked to the least performing of the Russell 2000®Index and theIndex(each, a “Reference Asset” and together, the “Reference Assets”). The Notes provide unleveraged participation in the positive return of the Least Performing Reference Asset if the value of each Reference Assetincreases from its Initial Value to its Final Value, subject to the Maximum Redemption Amount of $1,163.00 per Note. The “Least Performing ReferenceAsset” is the Reference Asset with the lowest Percentage Change. The “Percentage Change” for each Reference Asset is the quotient, expressed as apercentage, of (i) its Final Valueminusits Initial Valuedividedby (ii) its Initial Value. Investors will receive their Principal Amount at maturity if the Final Value of the Least Performing Reference Asset is equal to or less than its Initial Value.Payment on the Notes is subject to our credit risk. Investors are exposed to the market risk of each Reference Asset on the Valuation Date and any decline in the value of one ReferenceAsset will not be offset or mitigated by a lesser decline or potential increase in the value of any other Reference Asset. The Payment atMaturity will be greater than the Principal Amount only if the Least Performing Percentage Change is greater than zero. Payment on theNotes is 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 DepositInsurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other governmental agency or instrumentality of Canada or the UnitedStates. The Notes will not be listed or displayed on any securities exchange or electronic communications network. The Notes have complex features and investing in the Notes involves a number of risks. See “Additional Risk Factors” beginning on page P-6of this pricing supplement, “Additional Risk Factors Specific to the Notes” beginning on page PS-7 of the product supplement MLN-EI-1 datedFebruary 26, 2025 (the “product supplement”) and “Risk Factors” on page 1 of the prospectus dated February 26, 2025 (the “prospectus”).Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of theseNotes or determined that this pricing supplement, the product supplement, the underlier supplement or the prospectus is truthful orcomplete. 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 inThe estimated value of your Notesat the time the terms of your Notes were seton the Pricing Date was $984.00 per Note, as discussed further under “Additional Risk Factors — Risks Relating to Estimated Value and Liquidity” beginning on page P-7 and “Additional Information Regarding the EstimatedValue of the Notes” on page P-22 of this pricing supplement. The estimated value is less than the public offering price of the Notes. 1TD will periodically pay one or more unaffiliated dealers a structuring fee and/or marketing fee of $10.00 per Note with respect to all of the Notes. TD willreimburse TD Securities (USA) LLC (“TDS”) for certain expenses in connection with its role in the offer and sale of the Notes, and TD will pay TDS a fee inconnection with its role in the offer and sale of the Notes. See “Supplemental Plan of Distribution (Conflicts of Interest)” herein. The public offering price, underwriting discount and proceeds to TD listed above relate to the Notes we issue initially. We may decide to sell additional Notes afterthe date of this pricing supplement, at public offering prices and with underwriting discounts and proceeds to TD that differ from the amounts set forth above. Anyreturn on your investment in the Notes will depend in part on the public offering price you pay for such Notes. TD SECURITIES (USA) LLC Summary The information in this “Summary” section is qualified by the more detailed information set forth in this pricing supplement, the productsupplement, the underlier supplement and the prospectus. Additional Terms of Your Notes You should read this pricing supplement together with the prospectus, as supplemented by the product supplement MLN-EI-1 (the“product supplement”) and the underlier supplement (the “underlier supplement”), relating to our Senior Debt Securities, Series H ofwhich these Notes are a part. Capitalized terms used but not defined in this pricing supplement will have the meanings given to them inthe product supplement. In the event of any conflict the following hierarchy will govern: first, this pricing supplement; second, theproduct supplement; third, the underlier supplement; and la