Company: RWT-PA
Filing Date: 2025-03-03
Form Type: S-3ASR
Source: 0001104659-25-019828
Chunk: 13

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: S-3ASR
Chunk 13
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 which payment of principal of, 
 premium and interest on the debt securities will be made;                                   |

| · | if                                                                                         
 payments of principal of, premium or interest on the debt securities will be made in one   
 or more currencies or currency units other than that or those in which the debt securities 
 are denominated, the manner in which the exchange rate with respect to these payments will 
 be determined;                                                                             |

| · | the                                                                                         
 manner in which the amounts of payment of principal of, premium, if any, or interest on the 
 debt securities will be determined, if these amounts may be determined by reference to an   
 index based on a currency or currencies or by reference to a commodity, commodity index,    
 stock exchange index or financial index;                                                    |

| · | any                                                                   
 provisions relating to any security provided for the debt securities; |

| · | any                                                                                              
 addition to, deletion of or change in the Events of Default described in this prospectus         
 or in the indenture with respect to the debt securities and any change in the acceleration       
 provisions described in this prospectus or in the indenture with respect to the debt securities; |

| · | any                                                                                        
 addition to, deletion of or change in the covenants described in this prospectus or in the 
 indenture with respect to the debt securities;                                             |

| · | any                                                                                       
 depositaries, interest rate calculation agents, exchange rate calculation agents or other 
 agents with respect to the debt securities;                                               |

| · | the                                                                                            
 provisions, if any, relating to conversion or exchange of any debt securities of such series,  
 including if applicable, the conversion or exchange price and period, provisions as to whether 
 conversion or exchange will be mandatory, the events requiring an adjustment of the conversion 
 or exchange price and provisions affecting conversion or exchange;                             |

| · | any                                                                                            
 other terms of the debt securities, which may supplement, modify or delete any provision       
 of the indenture as it applies to that series, including any terms that may be required under  
 applicable law or regulations or advisable in connection with the marketing of the securities; 
 and                                                                                            |

| · | whether                                                                                       
 any of our direct or indirect subsidiaries will guarantee the debt securities of that series, 
 including the terms of subordination, if any, of such guarantees.                             |

We may issue debt securities
that provide for an amount less than their stated principal amount to be due and payable upon declaration of acceleration of their maturity
pursuant to the terms of the