# EDGAR Filing Document

**Accession Number:** 0000792288
**File Stem:** 0000928816-23-000340
**Filing Date:** 2023-3
**Character Count:** 21717
**Document Hash:** 024b867eb8cadb78cd7b3b35f1ee3414
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000928816-23-000340.hdr.sgml**: 20230303

**ACCESSION NUMBER**: 0000928816-23-000340

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230303

**DATE AS OF CHANGE**: 20230303

**EFFECTIVENESS DATE**: 20230303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM ASSET ALLOCATION FUNDS
- **CENTRAL INDEX KEY:** 0000914209
- **IRS NUMBER:** 046746612
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-51017
- **FILM NUMBER:** 23702136

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM LIFE STAGES ASSET ALLOCATION TRUST
- **DATE OF NAME CHANGE:** 19931027
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000711402
- **IRS NUMBER:** 042786284
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-81011
- **FILM NUMBER:** 23702146

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921562

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST
- **DATE OF NAME CHANGE:** 19941214

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM NEW YORK TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000719712
- **IRS NUMBER:** 042794490
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-83909
- **FILM NUMBER:** 23702141

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM NEW YORK TAX EXEMPT INCOME TRUST
- **DATE OF NAME CHANGE:** 19940603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM NEW YORK TAX EXEMPT INCOME FUND
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM TAX FREE INCOME TRUST
- **CENTRAL INDEX KEY:** 0000771951
- **IRS NUMBER:** 046483374
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-98790
- **FILM NUMBER:** 23702137

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM TAX FREE INCOME TRUST /MA/
- **DATE OF NAME CHANGE:** 19920902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM TAX FREE INCOME TRUST
- **DATE OF NAME CHANGE:** 19920101
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/
- **CENTRAL INDEX KEY:** 0000792288
- **IRS NUMBER:** 046626127
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-05416
- **FILM NUMBER:** 23702144

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/
- **DATE OF NAME CHANGE:** 19920609
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942
- **IRS NUMBER:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-00515
- **FILM NUMBER:** 23702145

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000794615
- **IRS NUMBER:** 043057637
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-28321
- **FILM NUMBER:** 23702139

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM OHIO TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000794616
- **IRS NUMBER:** 046626129
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-08924
- **FILM NUMBER:** 23702140

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 617-292-1000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM OHIO TAX EXEMPT INCOME FUND/MA
- **DATE OF NAME CHANGE:** 20080729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM OHIO TAX EXEMPT INCOME FUND II
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM OHIO TAX EXEMPT INCOME FUND
- **DATE OF NAME CHANGE:** 19920609
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000857463
- **IRS NUMBER:** 043073948
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-32550
- **FILM NUMBER:** 23702142

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000205802
- **IRS NUMBER:** 046396109
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-57165
- **FILM NUMBER:** 23702138

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
- **CENTRAL INDEX KEY:** 0000794612
- **IRS NUMBER:** 046626128
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-08916
- **FILM NUMBER:** 23702143

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM MINNESOTA TAX EXEMPT INCOME FUND/MA
- **DATE OF NAME CHANGE:** 20080729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
- **DATE OF NAME CHANGE:** 19920609

## Series and Classes Contracts Data

### PUTNAM TAX EXEMPT INCOME FUND (Series ID: S000006568)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class C Shares  | nan           | C000017917 |
| Class A Shares  | PTAEX         | C000017918 |
| Class B Shares  | PTBEX         | C000017919 |
| CLASS Y         | nan           | C000060417 |
| Class R6 Shares | nan           | C000202806 |

---

### PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST (Series ID: S000005498)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class A Shares  | PCTEX         | C000014969 |
| Class B Shares  | PCTBX         | C000014970 |
| Class C Shares  | PCTCX         | C000014971 |
| CLASS Y         | nan           | C000060520 |
| Class R6 Shares | nan           | C000202778 |

---

### PUTNAM NEW YORK TAX EXEMPT INCOME FUND (Series ID: S000006345)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class C Shares  | nan           | C000017441 |
| Class A Shares  | PTEIX         | C000017443 |
| Class B Shares  | PEIBX         | C000017444 |
| CLASS Y         | nan           | C000060413 |
| Class R6 Shares | nan           | C000202782 |

---

### Putnam Strategic Intermediate Municipal Fund (Series ID: S000003860)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class C Shares  | nan           | C000010817 |
| Class A Shares  | PPNAX         | C000010819 |
| Class B Shares  | PTFIX         | C000010820 |
| CLASS Y         | nan           | C000060535 |
| Class R6 Shares | nan           | C000202840 |

---

### Putnam Tax-Free High Yield Fund (Series ID: S000003861)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class C Shares  | nan           | C000010821 |
| Class A Shares  | PTHAX         | C000010822 |
| Class B Shares  | PTHYX         | C000010823 |
| CLASS Y         | nan           | C000060536 |
| Class R6 Shares | nan           | C000202841 |

---

### PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND (Series ID: S000006210)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class C Shares  | nan           | C000017118 |
| Class A Shares  | PXMAX         | C000017120 |
| Class B Shares  | PMABX         | C000017121 |
| CLASS Y         | nan           | C000060571 |
| Class R6 Shares | nan           | C000202927 |

---

### PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II (Series ID: S000006218)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class A Shares  | PXMNX         | C000017144 |
| Class B Shares  | PMTBX         | C000017145 |
| Class C Shares  | nan           | C000039836 |
| CLASS Y         | nan           | C000060573 |
| Class R6 Shares | nan           | C000202929 |

---

### PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND (Series ID: S000006567)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class A Shares  | PTEPX         | C000017915 |
| Class B Shares  | PPNBX         | C000017916 |
| Class C Shares  | nan           | C000039842 |
| CLASS Y         | nan           | C000060576 |
| Class R6 Shares | nan           | C000202936 |

---

### PUTNAM OHIO TAX EXEMPT INCOME FUND II (Series ID: S000006390)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class A Shares  | PXOHX         | C000017547 |
| Class B Shares  | POXBX         | C000017548 |
| Class C Shares  | nan           | C000039840 |
| CLASS Y         | nan           | C000060574 |
| Class R6 Shares | nan           | C000202934 |

---

### PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND (Series ID: S000006252)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Class A Shares  | PTNJX         | C000017198 |
| Class B Shares  | PNJBX         | C000017199 |
| Class C Shares  | nan           | C000039838 |
| CLASS Y         | nan           | C000060575 |
| Class R6 Shares | nan           | C000202931 |

---

### Putnam Multi-Asset Income Fund (Series ID: S000067964)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Class P Shares  | C000217944 |
| Class Y Shares  | C000236748 |
| Class R6 Shares | C000236749 |
| Class A Shares  | C000236750 |
| Class R Shares  | C000236751 |
| Class C Shares  | C000236752 |
| Class R5 Shares | C000236753 |

---

### Putnam Short-Term Municipal Income Fund (Series ID: S000039833)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| CLASS A         | C000123516 |
| CLASS C         | C000123518 |
| CLASS Y         | C000123520 |
| Class R6 Shares | C000202822 |

---

### Putnam Intermediate-Term Municipal Income Fund (Series ID: S000039834)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| CLASS Y         | C000123521 |
| CLASS A         | C000123522 |
| CLASS B         | C000123523 |
| CLASS C         | C000123524 |
| Class R6 Shares | C000202823 |

---

## Series and Classes Contracts Data

### PUTNAM TAX EXEMPT INCOME FUND (Series ID: S000006568)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017917 | Class C Shares  |  |
| C000017918 | Class A Shares  | PTAEX           |
| C000017919 | Class B Shares  | PTBEX           |
| C000060417 | CLASS Y         |  |
| C000202806 | Class R6 Shares |  |

### PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST (Series ID: S000005498)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000014969 | Class A Shares  | PCTEX           |
| C000014970 | Class B Shares  | PCTBX           |
| C000014971 | Class C Shares  | PCTCX           |
| C000060520 | CLASS Y         |  |
| C000202778 | Class R6 Shares |  |

### PUTNAM NEW YORK TAX EXEMPT INCOME FUND (Series ID: S000006345)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017441 | Class C Shares  |  |
| C000017443 | Class A Shares  | PTEIX           |
| C000017444 | Class B Shares  | PEIBX           |
| C000060413 | CLASS Y         |  |
| C000202782 | Class R6 Shares |  |

### Putnam Strategic Intermediate Municipal Fund (Series ID: S000003860)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010817 | Class C Shares  |  |
| C000010819 | Class A Shares  | PPNAX           |
| C000010820 | Class B Shares  | PTFIX           |
| C000060535 | CLASS Y         |  |
| C000202840 | Class R6 Shares |  |

### Putnam Tax-Free High Yield Fund (Series ID: S000003861)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000010821 | Class C Shares  |  |
| C000010822 | Class A Shares  | PTHAX           |
| C000010823 | Class B Shares  | PTHYX           |
| C000060536 | CLASS Y         |  |
| C000202841 | Class R6 Shares |  |

### PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND (Series ID: S000006210)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017118 | Class C Shares  |  |
| C000017120 | Class A Shares  | PXMAX           |
| C000017121 | Class B Shares  | PMABX           |
| C000060571 | CLASS Y         |  |
| C000202927 | Class R6 Shares |  |

### PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II (Series ID: S000006218)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017144 | Class A Shares  | PXMNX           |
| C000017145 | Class B Shares  | PMTBX           |
| C000039836 | Class C Shares  |  |
| C000060573 | CLASS Y         |  |
| C000202929 | Class R6 Shares |  |

### PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND (Series ID: S000006567)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017915 | Class A Shares  | PTEPX           |
| C000017916 | Class B Shares  | PPNBX           |
| C000039842 | Class C Shares  |  |
| C000060576 | CLASS Y         |  |
| C000202936 | Class R6 Shares |  |

### PUTNAM OHIO TAX EXEMPT INCOME FUND II (Series ID: S000006390)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017547 | Class A Shares  | PXOHX           |
| C000017548 | Class B Shares  | POXBX           |
| C000039840 | Class C Shares  |  |
| C000060574 | CLASS Y         |  |
| C000202934 | Class R6 Shares |  |

### PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND (Series ID: S000006252)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000017198 | Class A Shares  | PTNJX           |
| C000017199 | Class B Shares  | PNJBX           |
| C000039838 | Class C Shares  |  |
| C000060575 | CLASS Y         |  |
| C000202931 | Class R6 Shares |  |

### Putnam Multi-Asset Income Fund (Series ID: S000067964)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000217944 | Class P Shares  |  |
| C000236748 | Class Y Shares  |  |
| C000236749 | Class R6 Shares |  |
| C000236750 | Class A Shares  |  |
| C000236751 | Class R Shares  |  |
| C000236752 | Class C Shares  |  |
| C000236753 | Class R5 Shares |  |

### Putnam Short-Term Municipal Income Fund (Series ID: S000039833)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000123516 | CLASS A         |  |
| C000123518 | CLASS C         |  |
| C000123520 | CLASS Y         |  |
| C000202822 | Class R6 Shares |  |

### Putnam Intermediate-Term Municipal Income Fund (Series ID: S000039834)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000123521 | CLASS Y         |  |
| C000123522 | CLASS A         |  |
| C000123523 | CLASS B         |  |
| C000123524 | CLASS C         |  |
| C000202823 | Class R6 Shares |  |

---

| | |
|:---|:---|
| **Prospectus Supplement** | &nbsp;&nbsp;&nbsp;**March 3, 2023** |

---

**Putnam New York Tax Exempt Income Fund**

**Putnam Intermediate-Term Municipal Income Fund**

**Putnam Short-Term Municipal Income Fund**

Prospectuses dated March 30, 2022

**Putnam Massachusetts Tax Exempt Income Fund**

**Putnam Minnesota Tax Exempt Income Fund**

**Putnam New Jersey Tax Exempt Income Fund**

**Putnam Ohio Tax Exempt Income Fund**

**Putnam Pennsylvania Tax Exempt Income Fund**

Prospectuses dated September 30, 2022

**Putnam Strategic Intermediate Municipal Fund**

**Putnam Tax-Free High Yield Fund**

Prospectuses dated November 30, 2022

 **Putnam Multi-Asset Income Fund**<br> Prospectus dated December 30, 2022

**Putnam California Tax Exempt Income Fund**

**Putnam Tax Exempt Income Fund**

Prospectuses dated January 30, 2023

Effective immediately, similar language under the sub-section *Here is a summary of the differences among the classes of shares* under the section *How do I buy fund shares?* is deleted and replaced in its entirety by the following:

**Class C shares**

· No initial sales charge; your entire investment goes to work immediately

· Deferred sales charge of 1.00% if shares are sold within one year of purchase

· Higher annual expenses, and lower dividends, than class A shares because of higher 12b-1 fees

· Convert automatically to class A shares after eight years,
thereby reducing future 12b-1 fees, provided that Putnam Investor Services or the financial intermediary through which a shareholder purchased
class C shares has records verifying that the class C shares have been held for at least eight years, and that class A shares are available
for purchase by residents in the shareholder's jurisdiction. In certain cases, records verifying that the class C shares have been
held for at least eight years may not be available (for example, participant level share lot aging may not be tracked by group retirement
plan recordkeeping platforms through which class C shares of the fund are held in an omnibus account). If such records are unavailable,
Putnam Investor Services or the relevant financial intermediary may not effect the conversion or may effect the conversion on a different
schedule determined by Putnam Investor Services or the financial intermediary, which may be shorter or longer than eight years. Investors
should consult their financial representative for more information about their eligibility for class C share conversion.

· Orders for class C shares of one or more Putnam funds, other
than class C shares sold to employer-sponsored retirement plans, will be refused when the total value of the purchase, plus existing account
balances that are eligible to be linked under a right of accumulation for purchases of class A shares (as described below), is $250,000
or more. Investors considering cumulative purchases of $250,000 or more should consider whether class A shares would be more advantageous
and consult their financial representative.

· May be exchanged automatically for class A shares if the
shareholder is investing through an account or platform with a financial intermediary, to the extent described in the Appendix, provided
that Class A shares are available for purchase by residents in the shareholder's jurisdiction.

*Shareholders should retain this Supplement for future reference.*

333025 3/23