PGOF-SA6 03/25

SUPPLEMENT DATED MARCH 10, 2025

TO THE STATEMENT OF ADDITIONAL INFORMATION (“SAI”)

OF EACH FUND LISTED IN SCHEDULE A

Effective March 10, 2025, the following changes are made to each Fund’s SAI:

I. The following replaces the last paragraph of the section titled “General expense limitation” in each Fund’s SAI:

Sub-administrator  JPMorgan Chase Bank, N.A. (JPMorgan) has an agreement with FT Services to provide certain sub-administrative services for the Fund. The administrative services provided by JPMorgan include, but are not limited to, certain fund accounting, financial reporting, tax, corporate governance and compliance and legal administration services.

II. The following replaces the section titled “Custodian” in each Fund’s SAI:

Custodian  JPMorgan, at its principal office at 270 Park Avenue, New York, NY 10017-2070, and at the offices of its branches and agencies throughout the world, acts as custodian of the Fund's securities and other assets.

III. All references to “State Street Bank and Trust Company” under the heading “Other Disclosures” are replaced with JPMorgan.

Schedule A

Putnam Convertible Securities Fund

Putnam Core Equity Fund

Putnam Dynamic Asset Allocation Equity Fund

Putnam Focused International Equity Fund

Putnam Global Income Trust

Putnam High Yield Fund

Putnam Income Fund

Putnam Intermediate-Term Municipal Income Fund

Putnam International Equity Fund

Putnam International Value Fund

Putnam Massachusetts Tax Exempt Income Fund

Putnam Minnesota Tax Exempt Income Fund

Putnam Mortgage Opportunities Fund

Putnam New Jersey Tax Exempt Income Fund

Putnam New York Tax Exempt Income Fund

Putnam Ohio Tax Exempt Income Fund

Putnam Pennsylvania Tax Exempt Income Fund

Putnam Short Duration Bond Fund

Putnam Short-Term Municipal Income Fund

Putnam Small Cap Growth Fund

Putnam Sustainable Future Fund

Putnam Sustainable Leaders Fund

Shareholders should retain this Supplement for future reference.

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