Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 138

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 138
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 the rules and regulations of the SEC. The
full registration statement may be obtained from the SEC or us, as provided above. The indenture and forms of other documents establishing
the terms of the offered securities are or may be filed as exhibits to the registration statement or documents incorporated by reference
in the registration statement. Statements in this prospectus or any prospectus supplement about these documents are summaries, which
are not necessarily complete, and each statement is qualified in all respects by reference to the document to which it refers. You should
refer to the actual documents for a more complete description of the relevant matters. You may inspect a copy of the registration statement
through the SEC’s website, as provided above.

<div align='center'>55

% Senior Notes due 2030

Prospectus Supplement

Joint Book-Running Managers

Morgan Stanley

Goldman Sachs & Co. LLC

RBC Capital Markets

Wells Fargo Securities

Keefe, Bruyette & Woods

A Stifel Company

Piper Sandler

Co-Manager

Citizens Capital Markets

, 2025</div>