多伦多道明银行美股招股说明书(2026-05-26版)

Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-283969 The information in this pricing supplement is not complete and may be changed. This pricing supplement is notan offer to sell nor does it seek an offer to buy these Notes in any state where the offer or sale is not permitted.Subject to Completion. Dated May 26, 2026. Pricing Supplement dated, 2026to theProduct Supplement MLN-EI-1 dated February 26, 2025,Product Supplement MLN-ES-ETF-1 dated February 26, 2025,Underlier Supplement dated February 26, 2025 andProspectus dated February 26, 2025 The Toronto-Dominion Bank $• Capped Buffered Notes Linked to an Equally-Weighted Basket of the shares of the iShares®MSCIEAFE ETF, the shares of the Invesco QQQ TrustSM, Series 1, and the S&P 500®Index Due on orabout December 2, 2027 The Toronto-Dominion Bank (“TD” or “we”) is offering the Capped Buffered Notes (the “Notes”) linked to an equally-weighted basket ofthe shares of the iShares®MSCI EAFE ETF, the shares of the Invesco QQQ TrustSM, Series 1, and the S&P 500®Index (the “Basket”).We also refer to an exchange-traded fund as an “ETF”, a Basket Component that is a share of an ETF as an “Equity BasketComponent” and a Basket Component that is an index as an “Index Basket Component”. The Notes provide unleveraged participation in the positive return of the Basket if the value of the Basket increases from the InitialBasket Value to the Final Basket Value, subject to the Maximum Redemption Amount of $1,195.00 per Note. Investors will receive theirPrincipal Amount at maturity if the Final Basket Value is less than or equal to the Initial Basket Value, but greater than or equal to theBuffer Value, which is equal to 80.00% of the Initial Basket Value. If the Final Basket Value is less than the Buffer Value, investors willlose 1% of the Principal Amount of the Notes for each 1% that the Final Basket Value is less than the Initial Basket Value in excess of20.00%, and may lose up to 80.00% of the Principal Amount of the Notes. Any payment on the Notes is subject to our credit risk. The Payment at Maturity will be greater than the Principal Amount only if the Final Basket Value is greater than the InitialBasket Value. The Notes do not guarantee the return of the Principal Amount and investors may lose up to 80.00% of theirinvestment in the Notes. Any payment on the Notes 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 theCanada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation or any other governmental agency orinstrumentality of Canada or the United States. The Notes will not be listed or displayed on any securities exchange or electroniccommunications network. The Notes have complex features and investing in the Notes involves a number of risks. See “Additional Risk Factors”beginning on page P-6 of this pricing supplement, “Additional Risk Factors Specific to the Notes” beginning on page PS-7 ofthe product supplement MLN-EI-1 and the product supplement MLN-ES-ETF-1, each dated February 26, 2025 (together, the“product supplements”) and “Risk Factors” on page 1 of the prospectus dated February 26, 2025 (the “prospectus”). Neitherthe Securities and Exchange Commission(the“SEC”)nor any state securities commission has approved ordisapproved of these Notes or determined that this pricing supplement, the product supplements, the underlier supplement orthe prospectus is truthful or complete. 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 againstpayment in immediately available funds. The estimated value of your Notes at the time the terms of your Notes are set on the Pricing Date is expected to be between $960.00and $995.00 per Note, as discussed further under “Additional Risk Factors — Risks Relating to Estimated Value and Liquidity”beginning on page P-9 and “Additional Information Regarding the Estimated Value of the Notes” on page P-25 of this pricingsupplement. The estimated value is expected to be less than the public offering price of the Notes. 1Certain dealers who purchase the Notes for sale to certain fee-based advisory accounts may forgo some or all of their sellingconcessions, fees or commissions. The public offering price for investors purchasing the Notes in these accounts may be as low as$997.50 (99.75%) per Note. 2TD Securities (USA) LLC (“TDS”) will receive a commission of $2.50 (0.25%) per Note and may use all or a portion of thatcommission to allow selling concessions to other dealers in connection with the distribution of the Notes. Such other dealers mayresell the Notes to other securities dealers at the Principal Amount less a concession not in excess of $2.50 per Note.TD willreimburse TDS for certain expenses in connection with its role in the offer and sale of t