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Hi,
D3 is a Schottky diode placed across the switching node to ground. Although not required it is nice to have in the design as the diode reverse recovery loss is superior in the external Shottky diode compared to the body diode of the integrated low side FET. With this, a slight improvement in efficiency can be realized with improved charge recovery. Figure 5 of this app note touches on this subject a bit.
http://www.ti.com/lit/an/slpa009a/slpa009a.pdf
Thanks
Christian