Company: PIM
Filing Date: 2025-11-24
Form Type: NPORT-P
Source: 0002071691-25-006442
Chunk: 559

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-11-24
Form: NPORT-P
Chunk 559
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 and (ii) any other components where the notional value for that components is over 1% of the notional value of the index or custom basket.
An index or custom basket, where the components are publicly available on a website and are updated on that website no less frequently than quarterly.

| Index name.               | Markit CMBX North American Index Series BBB-13 |
| Index identifier, if any. | 137BERAM9                                      |

If the index’s or custom basket’s components are not publicly available in that manner, and the notional amount of the derivative represents 1% or less of the net asset value of the Fund, provide a narrative description of the index.

| Narrative description. |

| Custom swap Flag | Yes 
 No  |

1. Description and terms of payments to be received from another party.
Receipts: Reference Asset, Instrument or Index.

| Receipts: fixed, floating or other. | Fixed                                                                                 
 Floating                                                                              
 Other                                                                                 |
| Description of Other Receipts       | Receipt of notional amount upon default event with regard to the reference instrument |

2. Description and terms of payments to be paid to another party.
Payments: Reference Asset, Instrument or Index

| Payments: fixed, floating or other. |                Fixed 
             Floating 
                Other |
| Payments: Fixed rate.               |           3.00000000 |
| Payments: Base currency             | United States Dollar |
| Payments: Amount                    |           0.00000000 |

| ii.	Termination or maturity date.                                                                |           2072-12-16 |
| iii.	Upfront payments or receipts                                                                |                      |
| Upfront payments.                                                                                |       42934.50000000 |
| ISO Currency Code.                                                                               | United States Dollar |
| Upfront receipts.                                                                                |           0.00000000 |
| ISO Currency Code.                                                                               | United States Dollar |
| iv.	Notional amount.                                                                             |      203000.00000000 |
| ISO Currency Code.                                                                               |                  USD |
| v.	Unrealized appreciation or depreciation. Depreciation shall be reported as a negative number. |       -2461.37000000 |

| For each investment held by the Fund and its consolidated subsidiaries, 
 disclose the information requested in Part C. A Fund may report         
 information for securities in an aggregate amount not exceeding five    
 percent of its total assets as miscellaneous securities in Part D in    
 lieu of reporting those securities in Part