Company: RWT-PA
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081925
Chunk: 38

Company: REDWOOD TRUST INC
Filing Date: 2025-08-22
Form: 424B5
Chunk 38
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 for. Interest on the notes we are offering pursuant to this prospectus supplement will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning December 15, 2025.

Interest will be paid to the person in whose name a note is registered at the close of business on June 1 or December 1, as the case may be, immediately preceding the relevant interest payment date. Interest will accrue on the notes from the date of initial issuance and will be computed on the basis of a 360-day year composed of twelve 30-day months.

If any interest payment date (other than an interest payment date coinciding with the maturity date or, in the case of any note to be repurchased on a fundamental change repurchase date, as defined in “— Fundamental change permits holders to require us to repurchase notes,” an interest payment date coinciding with such fundamental change repurchase date) of a note falls on a day that is not a business day, such interest payment date will be postponed to the next succeeding business day and no interest will accrue for such intervening period. If the maturity date would fall on a day that is not a business day, the required payment of interest and principal will be made on the next succeeding business day and no

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interest on such payment will accrue for the period from and after the maturity date to such next succeeding business day. If a fundamental change repurchase date falls on a day that is not a business day, then we will pay the related the fundamental change repurchase price promptly following the later of the next succeeding business day or the time of book-entry transfer or the delivery of the relevant notes as described in “— Fundamental change permits holders to require us to repurchase notes.” The term “business day” means any day other than a Saturday, a Sunday or any day on which banking institutions are authorized or obligated by law or executive order to close in the City of New York, New York; provided , however , that solely for purposes of determining the dates on which payments are due on the notes, a day on which banking institutions in the applicable place of payment are authorized or required by law or executive order to close will be deemed not to be a “business day.”

Unless otherwise stated or unless the context otherwise requires, all references to interest in this prospectus supplement include additional interest, if any, payable as described under “— No registration rights; additional interest