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

Company: Axos Financial, Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 17
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 exchange of the Notes could result in gain or loss to the holders. Thus, if the Benchmark interest rate is replaced with a rate other than the Three-Month Term SOFR, such replacement could adversely affect the holders of the Notes.

Because the Notes may be redeemed at our option under certain circumstances prior to their maturity, you may be subject to reinvestment risk.

Subject to the prior approval of the Federal Reserve, to the extent that such approval is then required, we may redeem the Notes at our option (i) in whole but not in part beginning with the interest payment date of October 1, 2030, and on any interest payment date thereafter. In addition, at any time at which any Notes remain outstanding, subject to the prior approval of the Federal Reserve, to the extent that such approval is then required, we may redeem the Notes in whole but not in part upon the occurrence of a Tax Event or a Tier 2 Capital Event (each as defined under “ Description of Notes ”) or if we are required to register as an investment company pursuant to the 1940 Act. In the event that we redeem the Notes, holders of the Notes will receive only the principal amount of the Notes plus any accrued and unpaid interest to, but excluding, such earlier redemption date. If any redemption occurs, holders of the Notes will not have the opportunity to continue to accrue and be paid interest to the stated maturity date. Any such redemption may have the effect of reducing the income or return that you may receive on an investment in the Notes by reducing the term of the investment. If this occurs, you may not be able to reinvest the proceeds at an interest rate comparable to the rate paid on the Notes. See “ Description of Notes — Redemption. ”

The Notes have no mandatory redemption provisions and are not redeemable at the option of the holders of the Notes. Any decision we may make at any time to propose a redemption of the Notes will depend upon, among other things, our evaluation of our capital position, including for capital ratio purposes, the composition of our shareholders’ equity and general market conditions at that time.

If we are in default on our obligations to pay our Senior Indebtedness we will not be able to make payments on the Notes.

Our obligations under the Notes will be unsecured and will rank junior to the Senior Indebtedness, including without limitation the following, unless, by their specific terms, the obligation ranks equal with, or junior to, the Notes:

• all obligations in respect of our indebtedness