Company: RWT-PA
Filing Date: 2025-11-18
Form Type: 424B5
Source: 0001104659-25-113682
Chunk: 21

Company: REDWOOD TRUST INC
Filing Date: 2025-11-18
Form: 424B5
Chunk 21
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 including, an interest payment date to, but excluding, the next interest payment date or the stated maturity date or earlier redemption date, as the case may be. Interest is payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, beginning on March 1, 2026, to the persons in whose names the notes are registered at the close of business on February 15, May 15, August 15 and November 15, as the case may be, immediately before the relevant interest payment date. All payments will be made in U.S. dollars.

Interest on the notes will be computed on the basis of a 360 day year consisting of twelve 30 day months. Interest and principal payments will be made only on a Business Day (as defined below). If any interest and principal payment is due on a non-Business Day, we will make the payment on the next day that is a Business Day. Payments made on the next Business Day in this situation will be treated under the indenture as if they were made on the original due date. Such payment will not result in a Default under the notes or the indenture, and no interest will accrue on the payment amount from the original due date to the next day that is a Business Day.

“Business Day” means a day other than a Saturday, Sunday or any other day which is a federal holiday or any day on which banking institutions in New York City or the location of the corporate trust office of the trustee are authorized or required by law, regulation or executive order to remain closed.

“Default” means any event that is, or after notice or passage of time or both would be, an event of default (as described below under “— Events of Default”).

We will pay interest to the person listed in the registrar’s records as the owner of the notes at the close of business on the record date for the applicable interest payment date, even if that person no longer owns the note on the interest payment date. Because we pay all of the interest for an interest period to the holders on the record date, holders buying and selling the notes must work out between themselves the appropriate purchase price. The most common manner is to adjust the sales price of the notes to prorate interest fairly between buyer and seller based on their respective ownership periods within the particular interest period.

#### Maturity
The notes will mature on December 1, 2030 and will be paid against presentation and surrender thereof at the corporate trust office