497 1 a_sup309981.htm PUTNAM MULTIFUND a_sup309981.htm
Prospectus Supplement   February 1, 2018 
 
Putnam California Tax  Putnam Global  Putnam Massachusetts 
Exempt Income Fund  Telecommunications Fund  Tax Exempt Income Fund 
Prospectus dated 1/30/18  Prospectus dated 12/30/17  Prospectus dated 9/30/17 
     
Putnam Convertible  Putnam Intermediate-  Putnam Minnesota Tax 
Securities Fund  Term Municipal Income  Exempt Income Fund 
Prospectus dated 2/28/17  Fund  Prospectus dated 9/30/17 
  Prospectus dated 3/30/17   
Putnam Europe    Putnam Money 
Equity Fund  Putnam Low Volatility  Market Fund 
Prospectus dated 10/30/17  Equity Fund  Prospectus dated 1/30/18 
  Prospectus dated 11/30/17   
Putnam Capital    Putnam Multi-Cap 
Spectrum Fund  Putnam Multi-Cap  Growth Fund 
Prospectus dated 8/30/17  Core Fund  Prospectus dated 10/30/17 
  Prospectus dated 8/30/17   
Putnam Emerging    Putnam New Jersey Tax 
Markets Equity Fund  Putnam Short-Term  Exempt Income Fund 
Prospectus dated 12/30/17  Municipal Income Fund  Prospectus dated 9/30/17 
  Prospectus dated 3/30/17   
Putnam Emerging    Putnam New York Tax 
Markets Income Fund  Putnam Global  Exempt Income Fund 
Prospectus dated 3/30/17  Health Care Fund  Prospectus dated 3/30/17 
  Prospectus dated 12/30/17   
Putnam Equity    Putnam Ohio Tax 
Spectrum Fund  Putnam Global  Exempt Income Fund 
Prospectus dated 8/30/17  Natural Resources Fund  Prospectus dated 9/30/17 
  Prospectus dated 12/30/17   
Putnam Floating    Putnam Pennsylvania Tax 
Rate Income Fund  Putnam Global  Exempt Income Fund 
Prospectus dated 6/30/17  Utilities Fund  Prospectus dated 9/30/17 
  Prospectus dated 12/30/17   
Putnam Global    Putnam Tax Exempt 
Consumer Fund  Putnam High Yield Fund  Income Fund 
Prospectus dated 12/30/17  Prospectus dated 3/30/17  Prospectus dated 1/30/18 
     
Putnam Global  Putnam Government  Putnam AMT-Free 
Financials Fund  Money Market Fund  Municipal Fund 
Prospectus dated 12/30/17  Prospectus dated 1/30/18  Prospectus dated 11/30/17 
     
Putnam Global  Putnam International  Putnam Tax-Free 
Industrials Fund  Capital Opportunities  High Yield Fund 
Prospectus dated 12/30/17  Fund  Prospectus dated 11/30/17 
  Prospectus dated 12/30/17   
Putnam Global    Putnam U.S. Government 
Sector Fund  Putnam International  Income Trust 
Prospectus dated 2/28/17  Growth Fund  Prospectus dated 1/30/18 
  Prospectus dated 1/30/18   
Putnam Global    Putnam Dynamic Asset 
Technology Fund  Putnam Multi-Cap  Allocation Equity Fund 
Prospectus dated 12/30/17  Value Fund  Prospectus dated 9/30/17 
  Prospectus dated 8/30/17   

 

 

 

For each fund except Putnam Money Market Fund and Putnam Government Money Market Fund, purchases of class A shares by investors on or after March 1, 2018 that are not subject to an initial sales charge because the amount of purchase at the offering price was in the highest initial sales charge breakpoint level for the fund will be subject to a 1.00% deferred sales charge

 


309981 2/18 

 


(“CDSC”) if redeemed within twelve months of purchase. Purchases of class A shares by investors prior to March 1, 2018 that are not subject to an initial sales charge because the amount of purchase at the offering price was in the highest initial sales charge breakpoint level for the fund will be subject to a 1.00% CDSC if redeemed within nine months of purchase.

Class A shares of each of Putnam Money Market Fund and Putnam Government Money Market Fund obtained by exchanging shares from another Putnam fund that were originally purchased on or after March 1, 2018 without an initial sales charge may be subject to a 1.00% CDSC if redeemed within twelve months of the original purchase. Class A shares of each of Putnam Money Market Fund and Putnam Government Money Market Fund obtained by exchanging shares from another Putnam fund that were originally purchased prior to March 1, 2018 without an initial sales charge may be subject to a 1.00% CDSC if redeemed within nine months of the original purchase.

 

 

Effective April 1, 2018, class C shares of each applicable fund will automatically convert to class A shares after ten years, provided that the fund or the financial intermediary through which a shareholder purchased class C shares has records verifying that the class C shares have been held for at least ten years, and that class A shares are available for purchase by residents in the shareholder’s jurisdiction. Group retirement plan recordkeeping platforms of certain broker-dealer intermediaries who hold class C shares with the fund in an omnibus account do not track participant level share lot aging. These class C shares would not satisfy the conditions for the conversion.