[FWP] Toronto Dominion Bank Free Writing Prospectus
MRC Global Inc. (MRC) filed an 8-K on July 14, 2025 to inform investors that the company will publish its second-quarter 2025 financial results before the market opens on August 6, 2025. Because of the pending combination with DNOW Inc., management will not host a conference call or webcast to discuss the results. A copy of the related press release is included as Exhibit 99.1.
No preliminary financial figures, guidance revisions or additional transaction details were disclosed in the filing.
MRC Global Inc. (MRC) ha presentato un modulo 8-K il 14 luglio 2025 per informare gli investitori che la societ脿 pubblicher脿 i risultati finanziari del secondo trimestre 2025 prima dell'apertura del mercato il 6 agosto 2025. A causa della combinazione in corso con DNOW Inc., la direzione non terr脿 una conference call o una webcast per discutere i risultati. Una copia del comunicato stampa correlato 猫 inclusa come Allegato 99.1.
Nel documento non sono stati divulgati dati finanziari preliminari, revisioni delle previsioni o ulteriori dettagli sulla transazione.
MRC Global Inc. (MRC) present贸 un formulario 8-K el 14 de julio de 2025 para informar a los inversores que la empresa publicar谩 sus resultados financieros del segundo trimestre de 2025 antes de la apertura del mercado el 6 de agosto de 2025. Debido a la combinaci贸n pendiente con DNOW Inc., la gerencia no realizar谩 una llamada conferencia ni una transmisi贸n web para discutir los resultados. Una copia del comunicado de prensa relacionado se incluye como Anexo 99.1.
No se divulgaron cifras financieras preliminares, revisiones de pron贸sticos ni detalles adicionales sobre la transacci贸n en la presentaci贸n.
MRC Global Inc. (MRC)電� 2025雲� 7鞗� 14鞚� 8-K 靹滊毳� 鞝滌稖頃橃棳 韴瀽鞛愲摛鞐愱矊 2025雲� 2攵勱赴 鞛 瓴瓣臣毳� 2025雲� 8鞗� 6鞚� 鞁滌灔 臧滌灔 鞝勳棎 氚滍憸頃� 瓴�鞛勳潉 鞎岆牳鞀惦媹雼�. DNOW Inc.鞕�鞚� 頃╇硲鞚� 歆勴枆 欷戩瀯鞐� 霐半澕, 瓴届榿歆勳潃 瓴瓣臣毳� 雲检潣頃橁赴 鞙勴暅 旎嵓霟办姢 旖滌澊雮� 鞗轨簮鞀ろ姼毳� 歆勴枆頃橃 鞎婌潉 鞓堨爼鞛呺媹雼�. 甏�霠� 氤措弰鞛愲 靷掣鞚� 攵�搿� 99.1搿� 韽暔霅橃柎 鞛堨姷雼堧嫟.
靹滊 鞝滌稖 鞁� 鞓堧箘 鞛 靾橃箻, 臧�鞚措崢鞀� 靾橃爼 霕愲姅 於旉皜 瓯半灅 靹鸽秬 靷暛鞚� 瓿店皽霅橃 鞎婌晿鞀惦媹雼�.
MRC Global Inc. (MRC) a d茅pos茅 un formulaire 8-K le 14 juillet 2025 pour informer les investisseurs que la soci茅t茅 publiera ses r茅sultats financiers du deuxi猫me trimestre 2025 avant l'ouverture du march茅 le 6 ao没t 2025. En raison de la fusion en attente avec DNOW Inc., la direction ne tiendra pas de conf茅rence t茅l茅phonique ni de webdiffusion pour discuter des r茅sultats. Une copie du communiqu茅 de presse associ茅 est incluse en Annexe 99.1.
Aucune donn茅e financi猫re pr茅liminaire, r茅vision des pr茅visions ou d茅tail suppl茅mentaire sur la transaction n鈥檃 茅t茅 divulgu茅 dans le d茅p么t.
MRC Global Inc. (MRC) reichte am 14. Juli 2025 ein Formular 8-K ein, um Investoren dar眉ber zu informieren, dass das Unternehmen die Finanzergebnisse f眉r das zweite Quartal 2025 vor Markter枚ffnung am 6. August 2025 ver枚ffentlichen wird. Aufgrund der ausstehenden Fusion mit DNOW Inc. wird das Management keine Telefonkonferenz oder Webcast zur Besprechung der Ergebnisse abhalten. Eine Kopie der zugeh枚rigen Pressemitteilung ist als Anlage 99.1 beigef眉gt.
Im Bericht wurden keine vorl盲ufigen Finanzzahlen, Prognose盲nderungen oder weitere Transaktionsdetails ver枚ffentlicht.
- Clear disclosure of Q2 2025 earnings release date (August 6, 2025) allows investors to plan accordingly.
- No conference call/webcast limits real-time management commentary and investor engagement around the quarter鈥檚 results.
Insights
TL;DR 鈥� Routine timing update; no financial data disclosed.
The 8-K simply sets the Q2 2025 earnings release date and confirms there will be no earnings call because of the planned merger with DNOW. While the absence of a call reduces management access and may limit near-term transparency, the filing does not alter the fundamental investment thesis or provide new quantitative information. Overall impact is neutral and largely administrative.
TL;DR 鈥� Transparency slightly reduced; otherwise standard disclosure.
Management鈥檚 decision to forego the usual earnings call is acceptable given merger-related restrictions, but investors lose an opportunity for Q&A. The filing follows Regulation FD requirements by announcing the release schedule and attaching the press release. No governance red flags are evident.
MRC Global Inc. (MRC) ha presentato un modulo 8-K il 14 luglio 2025 per informare gli investitori che la societ脿 pubblicher脿 i risultati finanziari del secondo trimestre 2025 prima dell'apertura del mercato il 6 agosto 2025. A causa della combinazione in corso con DNOW Inc., la direzione non terr脿 una conference call o una webcast per discutere i risultati. Una copia del comunicato stampa correlato 猫 inclusa come Allegato 99.1.
Nel documento non sono stati divulgati dati finanziari preliminari, revisioni delle previsioni o ulteriori dettagli sulla transazione.
MRC Global Inc. (MRC) present贸 un formulario 8-K el 14 de julio de 2025 para informar a los inversores que la empresa publicar谩 sus resultados financieros del segundo trimestre de 2025 antes de la apertura del mercado el 6 de agosto de 2025. Debido a la combinaci贸n pendiente con DNOW Inc., la gerencia no realizar谩 una llamada conferencia ni una transmisi贸n web para discutir los resultados. Una copia del comunicado de prensa relacionado se incluye como Anexo 99.1.
No se divulgaron cifras financieras preliminares, revisiones de pron贸sticos ni detalles adicionales sobre la transacci贸n en la presentaci贸n.
MRC Global Inc. (MRC)電� 2025雲� 7鞗� 14鞚� 8-K 靹滊毳� 鞝滌稖頃橃棳 韴瀽鞛愲摛鞐愱矊 2025雲� 2攵勱赴 鞛 瓴瓣臣毳� 2025雲� 8鞗� 6鞚� 鞁滌灔 臧滌灔 鞝勳棎 氚滍憸頃� 瓴�鞛勳潉 鞎岆牳鞀惦媹雼�. DNOW Inc.鞕�鞚� 頃╇硲鞚� 歆勴枆 欷戩瀯鞐� 霐半澕, 瓴届榿歆勳潃 瓴瓣臣毳� 雲检潣頃橁赴 鞙勴暅 旎嵓霟办姢 旖滌澊雮� 鞗轨簮鞀ろ姼毳� 歆勴枆頃橃 鞎婌潉 鞓堨爼鞛呺媹雼�. 甏�霠� 氤措弰鞛愲 靷掣鞚� 攵�搿� 99.1搿� 韽暔霅橃柎 鞛堨姷雼堧嫟.
靹滊 鞝滌稖 鞁� 鞓堧箘 鞛 靾橃箻, 臧�鞚措崢鞀� 靾橃爼 霕愲姅 於旉皜 瓯半灅 靹鸽秬 靷暛鞚� 瓿店皽霅橃 鞎婌晿鞀惦媹雼�.
MRC Global Inc. (MRC) a d茅pos茅 un formulaire 8-K le 14 juillet 2025 pour informer les investisseurs que la soci茅t茅 publiera ses r茅sultats financiers du deuxi猫me trimestre 2025 avant l'ouverture du march茅 le 6 ao没t 2025. En raison de la fusion en attente avec DNOW Inc., la direction ne tiendra pas de conf茅rence t茅l茅phonique ni de webdiffusion pour discuter des r茅sultats. Une copie du communiqu茅 de presse associ茅 est incluse en Annexe 99.1.
Aucune donn茅e financi猫re pr茅liminaire, r茅vision des pr茅visions ou d茅tail suppl茅mentaire sur la transaction n鈥檃 茅t茅 divulgu茅 dans le d茅p么t.
MRC Global Inc. (MRC) reichte am 14. Juli 2025 ein Formular 8-K ein, um Investoren dar眉ber zu informieren, dass das Unternehmen die Finanzergebnisse f眉r das zweite Quartal 2025 vor Markter枚ffnung am 6. August 2025 ver枚ffentlichen wird. Aufgrund der ausstehenden Fusion mit DNOW Inc. wird das Management keine Telefonkonferenz oder Webcast zur Besprechung der Ergebnisse abhalten. Eine Kopie der zugeh枚rigen Pressemitteilung ist als Anlage 99.1 beigef眉gt.
Im Bericht wurden keine vorl盲ufigen Finanzzahlen, Prognose盲nderungen oder weitere Transaktionsdetails ver枚ffentlicht.
 |
ISSUER FREE WRITING PROSPECTUS
|
|
Filed Pursuant to Rule 433
|
|
|
Registration Statement No. 333-283969
|
|
|
Dated July 15, 2025
|
|
SUMMARY TERMS
|
|
Issuer:
|
The Toronto-Dominion Bank
|
|
Issue:
|
Senior Debt Securities, Series H
|
|
Underlying index:
|
Russell 2000® Index (Bloomberg Ticker: “RTY”)
|
|
Stated principal amount:
|
$1,000.00 per Buffered PLUS
|
|
Issue price:
|
$1,000.00 per Buffered PLUS
|
|
Minimum investment:
|
$1,000.00 (1 Buffered PLUS)
|
|
Coupon:
|
None
|
|
Pricing date:
|
July 31, 2025
|
|
Original issue date:
|
August 5, 2025 (3 business days after the pricing date; see preliminary pricing supplement).
|
|
Valuation date:
|
July 30, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
|
|
Maturity date:
|
August 4, 2027, subject to postponement for certain market disruption events and as described in the accompanying product supplement.
|
|
Payment at maturity per
Buffered PLUS:
|
■ If the final index value is greater than the initial index value:
$1,000.00 + leveraged upside payment
In no event will the payment at maturity exceed the maximum payment at maturity.
■ If the final index value is less than or equal to the initial index value, but not by more than the buffer amount:
$1,000.00+ ($1,000.00 × absolute underlying return)
In this scenario, you will receive a 1% positive return on the Buffered PLUS for each 1%
negative return on the underlying index. In no event will this amount exceed the stated principal amount plus $150.00. You will not benefit from the leverage feature in this scenario.
■ If the final index value is less than the initial index value by more than the
buffer amount:
$1,000.00 + [$1,000.00 × (underlying return + buffer amount)]
If the final index value is less than the initial index value by more than the buffer amount, you will lose 1%
for every 1% that the final index value falls below the initial index value in excess of the buffer amount and could lose up to 85.00% of your investment in the Buffered PLUS.
|
|
Underlying return:
|
(final index value – initial index value) / initial index value
|
|
Absolute underlying return:
|
The absolute value of the underlying return. For example, a -5% underlying return will result in a +5% absolute underlying return.
|
|
Leverage factor:
|
150%
|
|
Leveraged upside payment:
|
$1,000.00 × leverage factor × underlying return
|
|
Buffer amount:
|
15.00%
|
|
Maximum gain:
|
18.45%
|
|
Maximum payment at maturity:
|
$1,184.50 per Buffered PLUS (118.45% of the stated principal amount)
|
|
Initial index value:
|
The index closing value of the underlying index on the pricing date, as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement
|
|
Final index value:
|
The index closing value of the underlying index on the valuation date, as may be adjusted in the case of certain adjustment events as described in the accompanying product supplement
|
|
CUSIP/ISIN:
|
89115HL39 / US89115HL390
|
|
Listing:
|
The Buffered PLUS will not be listed or displayed on any securities exchange or any electronic communications network.
|
|
Commission:
|
$25.00 per stated principal amount.
|
|
Estimated value on the pricing
date:
|
Expected to be between $930.00 and $965.00 per Buffered PLUS. See “Risk Factors” in the preliminary pricing supplement.
|
|
Preliminary pricing supplement
|
http://www.sec.gov/Archives/edgar/data/947263/000114036125025862/ef20052008_424b2.htm
|
|
HYPOTHETICAL PAYOUT
|
|
Underlying Return
|
Payment at Maturity
|
|
+40.00%
|
$1,184.50
|
|
+30.00%
|
$1,184.50
|
|
+20.00%
|
$1,184.50
|
|
+12.30%
|
$1,184.50
|
|
+10.00%
|
$1,150.00
|
|
+5.00%
|
$1,075.00
|
|
0.00%
|
$1,000.00
|
|
-5.00%
|
$1,050.00
|
|
-10.00%
|
$1,100.00
|
|
-15.00%
|
$1,150.00
|
|
-20.00%
|
$950.00
|
|
-30.00%
|
$850.00
|
|
-40.00%
|
$750.00
|
|
-50.00%
|
$650.00
|
|
-75.00%
|
$400.00
|
|
-100.00%
|
$150.00
|
| ▪ |
You may lose up to 85.00% of your investment in the Buffered PLUS.
|
| ▪ |
The stated payout from the issuer applies only at maturity.
|
| ▪ |
The potential positive return on the Buffered PLUS from any negative performance of the underlying index is limited by the buffer amount and the return on the Buffered PLUS may change significantly despite only
a small difference in the degree of change of the final index value relative to the initial index value.
|
| ▪ |
Your potential return on the Buffered PLUS is limited to the maximum gain.
|
| ▪ |
You will not receive any interest payments.
|
| ▪ |
The amount payable on the Buffered PLUS is not linked to the value of the underlying index at any time other than the valuation date.
|
| ▪ |
Owning the Buffered PLUS is not the same as owning the index constituent stocks.
|
| ▪ |
The absolute return feature is not the same as taking a short position directly in the underlying index or any index constituent stocks.
|
| ▪ |
An investment in the Buffered PLUS involves market risk associated with the underlying index.
|
| ▪ |
There can be no assurance that the investment view implicit in the Buffered PLUS will be successful.
|
| ▪ |
The Buffered PLUS are subject to small-capitalization stock risks
|
| ▪ |
The underlying index reflects price return, not total return.
|
| ▪ |
Changes affecting the underlying index could have an adverse effect on the market value of, and any amount payable on, the Buffered PLUS.
|
| ▪ |
There is no affiliation between the index sponsor and TD, and TD is not responsible for any disclosure by such index sponsor.
|
| ▪ |
The estimated value of your Buffered PLUS is expected to be less than the public offering price of your Buffered PLUS.
|
| ▪ |
The estimated value of your Buffered PLUS is based on our internal funding rate.
|
| ▪ |
The estimated value of the Buffered PLUS is based on our internal pricing models, which may prove to be inaccurate and may be different from the pricing models of other financial institutions.
|
| ▪ |
The estimated value of your Buffered PLUS is not a prediction of the prices at which you may sell your Buffered PLUS in the secondary market, if any, and such secondary market prices, if any, will likely be less
than the public offering price of your Buffered PLUS and may be less than the estimated value of your Buffered PLUS.
|
| ▪ |
The temporary price at which the agent may initially buy the Buffered PLUS in the secondary market may not be indicative of future prices of your Buffered PLUS.
|
| ▪ |
The underwriting discount, offering expenses and certain hedging costs are likely to adversely affect secondary market prices.
|
| ▪ |
There may not be an active trading market for the Buffered PLUS — sales in the secondary market may result in significant losses.
|
| ▪ |
If the value of the underlying index changes, the market value of your Buffered PLUS may not change in the same manner.
|
| ▪ |
Investors are subject to TD’s credit risk, and TD’s credit ratings and credit spreads may adversely affect the market value of the Buffered PLUS.
|
| ▪ |
There are potential conflicts of interest between you and the calculation agent.
|
| ▪ |
The valuation date, and therefore the maturity date, are subject to market disruption events and postponements.
|
| ▪ |
Trading and business activities by TD or its affiliates may adversely affect the market value of, and return on, the Buffered PLUS.
|
| ▪ |
Significant aspects of the tax treatment of the Buffered PLUS are uncertain.
|
Source:
FAQ
When will MRC (NYSE:MRC) report Q2 2025 earnings?
Will there be an earnings call for MRC鈥檚 Q2 2025 results?
Why is MRC Global skipping the Q2 2025 conference call?
Where can investors find the official press release regarding the Q2 2025 earnings date?
