Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 158

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 158
---

of

suitable

derivatives.

Investments

in

derivatives

may

Putnam

Premier

Income

Trust

Important

Information

to

Shareholders

(unaudited)

63

franklintempleton.com

Annual

Report

be

applied

toward

meeting

a

requirement

to

invest

in

a

particular

kind

of

investment

if

the

derivatives

have

economic

characteristics

similar

to

that

investment.

Derivatives

involve

special

risks

and

may

result

in

losses.

The

successful

use

of

derivatives

depends

on

our

ability

to

manage

these

sophisticated

instruments.

Some

derivatives

are

“leveraged,”

which

means

they

provide

the

fund

with

investment

exposure

greater

than

the

value

of

the

fund’s

investment

in

the

derivatives.

As

a

result,

these

derivatives

may

magnify

or

otherwise

increase

investment

losses

to

the

fund.

The

risk

of

loss

from

certain

short

derivative

positions

is

theoretically

unlimited.

The

value

of

derivatives

may

move

in

unexpected

ways

due

to

unanticipated

market

movements,

the

use

of

leverage,

imperfect

correlation

between

the

derivative

instrument

and

the

reference

asset

or

other

factors,

especially

in

unusual

market

conditions,

and

volatility

in

the

value

of

derivatives

could

adversely

impact

the

fund’s

returns,

obligations,

and

exposures.

Other

risks

arise

from

the

potential

inability

to

terminate

or

sell

derivative

positions.

Derivatives

may

be

subject

to

### liquidity
risk

due

to

the

fund’s

obligation

to

make

payments

of

margin,

collateral,

or

settlement

payments

to

counterparties.

A

liquid

secondary

market

may

not

always

exist

for

the

fund