Company: AX
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001299709-25-000159
Chunk: 14

Company: Axos Financial, Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 14
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 will not be adjusted for any modification or amendment to SOFR for that day that FRBNY may publish if the interest rate for that day has already been determined prior to such publication. There is no assurance that changes in SOFR could not have a material adverse effect on the yield on, value of and market for SOFR-linked subordinated notes, including the Notes.

Under the terms of the Notes, the Benchmark rate on the Notes for each interest period during the floating rate period is expected to be the Three-Month Term SOFR, which is a forward-looking term rate for a tenor of three months that will be based on SOFR, so the Notes would be considered a SOFR-linked subordinate note. A decline in the Benchmark rate (or an applicable Benchmark Replacement) will decrease the interest payments due under the Notes. Any decrease in SOFR (or an applicable Benchmark Replacement) will lead to a decrease in the Notes’ interest rate. For example, if the Benchmark rate on the Notes during the floating rate period for any interest period declines to zero or becomes negative, interest will only accrue on the Notes at a rate equal to the spread of 3.79% per annum with respect to that interest period.

The amount of interest payable on the Notes is variable after October 1, 2030 .

During the fixed rate period, the Notes will bear interest at an initial rate of 7.00% per annum. Thereafter, the Notes will bear interest at a floating rate per annum equal to the Benchmark rate (which is expected to be Three-Month Term SOFR) plus 379 basis points, subject to the provisions under “ Description of the Notes — Interest. ” The per annum interest rate that is determined at the reference time for each interest period will apply to the entire quarterly interest period following such determination date even if the Benchmark rate increases during that period. Floating rate notes bear additional significant risks not associated with fixed rate debt securities. These risks include fluctuation of the interest rates and the possibility that you will receive an amount of interest that is lower than expected. We have no control over a number of matters that may impact prevailing interest rates, including, without limitation, economic, financial, regulatory and political events that are important in determining the existence, magnitude, and longevity of market volatility, and other risks and their impact on the value of, or payments made on, the Notes. In recent years, interest rates have been volatile, and that volatility may be expected in the future.

Any failure of SOFR to maintain market