道明银行美股招股说明书(2026-05-13版)

The information in this pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanyingproduct supplement, underlier supplement and prospectus are not an offer to sell nor does it seek an offer to buy these securities in any statewhere the offer or sale is not permitted.PRELIMINARY PRICING SUPPLEMENTSubject to Completion, dated May 13, 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 Market Linked Securities—Upside Participation to a Cap and Fixed PercentageBuffered Downside ■Linked to the Invesco QQQ TrustSM(the “Fund”) ■Unlike ordinary debt securities, the securities do not pay interest or repay a fixed amount of principal at maturity. Instead, thesecurities provide for a maturity payment amount that may be greater than, equal to or less than the face amount of thesecurities, depending on the performance of the Fund from its starting price to its ending price. The maturity paymentamount will reflect the following terms: If the price of the Fund increases, you will receive the face amount plus a positive return equal to 100% of thepercentage increase in the price of the Fund from the starting price, subject to a maximum return at maturity of at least31.20% (to be determined on the pricing date) of the face amount. As a result of the maximum return, the maximummaturity payment amount will be at least $1,312.00 If the price of the Fund decreases but the decrease is not more than the buffer amount of 30%, you will receive theface amount ■If the price of the Fund decreases by more than the buffer amount, you will receive less than the face amount and have1-to-1 downside exposure to the decrease in the price of the Fund in excess of the buffer amount ■Investors may lose up to 70% of the face amount ■All payments on the securities are subject to the credit risk of The Toronto-Dominion Bank (the “Bank”) ■No periodic interest payments or dividends 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 $930.00 and $965.00 per security,as discussed further under “Selected Risk Considerations— Risks Relating To The Estimated Value Of The Securities And Any Secondary Market” beginning onpage P-9 and “Estimated Value Of The Securities” herein. The estimated value is expected to be less than the original offering price of the securities.The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “SelectedRisk Considerations” beginning on page P-8 herein and “Risk Factors” beginning on page PS-5 of the accompanying product supplement and on page 1 of theaccompanying prospectus.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 Canada Deposit Insurance Corporation pursuant to the Canada Deposit Insurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit InsuranceCorporation or any other governmental 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 or passed upon the accuracy or adequacy of this pricing supplement or the accompanying product supplement, underlier supplement and prospectus.Any representation to the contrary is a criminal offense. (1)The Agents may receive a commission of up to $28.25 (2.825%) per security and may use a portion of that commission to allow selling concessions to other dealers in connection withthe distribution of the securities, or will offer the securities directly to investors. The Agents may resell the securities to other securities dealers at the original offering price less aconcession not in excess of $22.50 (2.25%) per security. Such securities dealers may include Wells Fargo Advisors (“WFA”, the trade name of the retail brokerage business of WellsFargo 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, intheir sole discretion, some or all of their selling concessions. In addition to the selling concession allowed to WFA, Wells Fargo Securities may pay $0.75 (0.075%) per security of theagent discount to WFA as a distribution expense fee for each security sold by WFA. The Bank will reimburse TD Securities (USA) LLC (“TDS”) for certain expenses in connection with itsrole in the offer and sale of the securities, and the Bank will pay TDS a fee in connection with its role in the offer and sale of the securities. In respect of certain securities sold in thisofferi