497 1 a_multifundsaisupp.htm MULTIPLE PUTNAM FUNDS a_multifundsaisupp.htm
Statement of Additional Information Supplement  May 27, 2022 
 
Putnam California Tax Exempt Income Fund -   
Statement of Additional Information dated January 30, 2022   
 
Putnam Intermediate –Term Municipal Income Fund -   
Statement of Additional Information dated March 30, 2022   
 
Putnam Massachusetts Tax Exempt Income Fund -   
Statement of Additional Information dated September 30, 2021   
 
Putnam Minnesota Tax Exempt Income Fund -   
Statement of Additional Information dated September 30, 2021   
 
Putnam New Jersey Tax Exempt Income Fund -   
Statement of Additional Information dated September 30, 2021   
 
Putnam New York Tax Exempt Income Fund -   
Statement of Additional Information dated March 30, 2022   
 
Putnam Ohio Tax Exempt Income Fund -   
Statement of Additional Information dated September 30, 2021   
 
Putnam Pennsylvania Tax Exempt Income Fund -   
Statement of Additional Information dated September 30, 2021   
 
Putnam Strategic Intermediate Municipal Fund -   
Statement of Additional Information dated November 30, 2021   
 
Putnam Tax Exempt Income Fund -   
Statement of Additional Information dated January 30, 2022   
 
Putnam Tax-Free High Yield Fund -   
Statement of Additional Information dated November 30, 2021   

 

Effective July 1, 2022, similar disclosure under the heading Sales Charges and Other Class Features—Retail Investors—Initial sales charges for class A, class M and class N shares in the section HOW TO BUY SHARES is deleted in its entirety and replaced with the following:

For Growth Funds, Blend Funds, Value Funds, Asset Allocation Funds (excluding George Putnam Balanced Fund and Putnam PanAgora Risk Parity Fund), Global Sector Funds, Putnam Retirement Advantage Funds (excluding Putnam Retirement Advantage Maturity Fund) and RetirementReady® Funds (excluding Putnam RetirementReady Maturity Fund) only:

 

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 50,000  5.75%  5.00% 
50,000 but under 100,000  4.50  3.75 
100,000 but under 250,000  3.50  2.75 
250,000 but under 500,000  2.50  2.00 
500,000 but under 1,000,000  2.00  1.75 
1,000,000 and above  NONE  NONE 

 

For Putnam PanAgora Risk Parity Fund and Putnam Multi-Asset Absolute Return Fund only:

 

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 50,000  5.75%  5.00% 
50,000 but under 100,000  4.50  3.75 
100,000 but under 250,000  3.50  2.75 
250,000 but under 500,000  2.50  2.00 
500,000 and above  NONE  NONE 

 

For Putnam Retirement Advantage Maturity Fund, Putnam RetirementReady Maturity Fund, Taxable Income Funds (except for Putnam Fixed Income Absolute Return Fund, Money Market Funds, Putnam Floating Rate Income Fund, Putnam Ultra Short Duration Income Fund, Putnam Diversified Income Trust, Putnam High

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Yield Fund, Putnam Income Fund, and Putnam Short Duration Bond Fund), and for purchases of Tax-Exempt Funds (except for Putnam Short-Term Municipal Income Fund) prior to July 1, 2022:

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 50,000  4.00%  3.50% 
50,000 but under 100,000  4.00  3.50 
100,000 but under 250,000  3.25  2.75 
250,000 but under 500,000  2.50  2.00 
500,000 and above  NONE  NONE 

 

For purchases of Tax-Exempt Funds (except for Putnam Short-Term Municipal Income Fund and Putnam Strategic Intermediate Municipal Fund) on or after July 1, 2022:

 

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 50,000  4.00%  3.50% 
50,000 but under 100,000  3.25  2.75 
100,00 but under 250,000  2.50  2.00 
250,000 and above  NONE  NONE 

 

For Putnam Fixed Income Absolute Return Fund and Putnam Floating Rate Income Fund only:

 

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 100,000  2.25%  2.00% 
100,000 but under 250,000  1.75%  1.50% 
250,000 but under 500,000  1.25%  1.00% 
500,000 and above  NONE  NONE 

 

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For purchases of Putnam Short-Term Municipal Income Fund, purchases of Putnam Strategic Intermediate Municipal Fund only on or after July 1, 2022, and purchases of Putnam Short Duration Bond Fund only prior to January 1, 2021:

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 100,000  2.25%  2.00% 
100,000 but under 250,000  1.25%  1.00% 
250,000 and above  NONE  NONE 

 

For purchases of Putnam Short Duration Bond Fund on or after January 1, 2021:

 

  CLASS A 
    Amount of sales 
    charge 
    reallowed to 
  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 100,000  2.25%  2.00% 
100,000 – 249,999  1.25%  1.00% 
250,000 and above  NONE  NONE 

 

For George Putnam Balanced Fund only:

 

  CLASS A  CLASS M 
    Amount of sales    Amount of sales 
    charge    charge 
    reallowed to    reallowed to 
  Sales charge as  dealers as a  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of  a percentage of  percentage of 
offering price ($)  offering price  offering price  offering price  offering price 
Under 50,000  5.75%  5.00%  3.50%  3.00% 
50,000 but under 100,000  4.50  3.75  2.50  2.00 
100,000 but under 250,000  3.50  2.75  1.50  1.00 
250,000 but under 500,000  2.50  2.00  1.00  1.00 
500,000 but under 1,000,000  2.00  1.75  1.00  1.00 
1,000,000 and above  NONE  NONE  N/A  N/A 

 

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For Putnam Diversified Income Trust, Putnam High Yield Fund and Putnam Income Fund only:

  CLASS A  CLASS M 
    Amount of sales    Amount of sales 
    charge    charge 
    reallowed to    reallowed to 
  Sales charge as  dealers as a  Sales charge as  dealers as a 
Amount of transaction at  a percentage of  percentage of  a percentage of  percentage of 
offering price ($)  offering price  offering price  offering price  offering price 
Under 50,000  4.00%  3.50%  3.25%  3.00% 
50,000 but under 100,000  4.00  3.50  2.25  2.00 
100,000 but under 250,000  3.25  2.75  1.25  1.00 
250,000 but under 500,000  2.50  2.00  1.00  1.00 
500,000 and above  NONE  NONE  N/A*  N/A* 

 

*The funds will not accept purchase orders for class M shares (other than by employer-sponsored retirement plans) where the total of the current purchase, plus existing account balances that are eligible to be linked under a right of accumulation (as described below) is $500,000 or more.

For all Putnam Funds that offer class N shares:

  CLASS N 
    Amount of sales 
    charge reallowed to 
  Sales charge as a  dealers as a 
Amount of transaction at  percentage of  percentage of 
offering price ($)  offering price  offering price 
Under 50,000  1.50%  1.25% 
50,000 but under 100,000  1.25%  1.00% 
100,000 but under 250,000  1.00%  0.75% 
250,000 and above  NONE  NONE 

 

PUTNAM INVESTMENTS  SAI supplement - 5/22 

 

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