Prospectus Supplement  November 1, 2019 

Putnam International Equity Fund 

Putnam International Value Fund 

Putnam Small Cap Growth Fund 

Putnam Sustainable Leaders Fund 

Prospectuses dated October 30, 2019 

Effective November 25, 2019 (the “Effective Date”), class M shares of each fund will no longer be available for purchase. Class M shares of each fund acquired prior to the Effective Date will convert automatically to class A shares on the Effective Date.

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