Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 59

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 59
---
 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 indenture. We will provide you with information on the U.S. federal income tax considerations and other
special considerations applicable to any of these debt securities in the applicable prospectus supplement.

If we denominate the purchase
price of any of the debt securities in a foreign currency or currencies or a foreign currency unit or units, or if the principal of and
any premium and interest on any series of debt securities is payable in a foreign currency or currencies or a foreign currency unit or
units, we will provide you with information on the restrictions, elections, general tax considerations, specific terms and other information
with respect to that issue of debt securities and such foreign currency or currencies or foreign currency unit or units in the applicable
prospectus supplement.

Transfer and Exchange

Each debt security will be
represented by either one or more global securities registered in the name of The Depository Trust Company, or the Depositary, or a nominee
of the Depositary (we will refer to any debt security represented by a global debt security as a “book-entry debt security”),
or a certificate issued in definitive registered form (we will refer to any debt security represented by a certificated security as a
“certificated debt security”) as set forth in the applicable prospectus supplement. Except as set forth under the heading
“Global Debt Securities and Book-Entry System” below, book-entry debt securities will not be issuable in certificated form.

Cert