| Issuer / Guarantor | Redwood Trust Inc |
|---|---|
| Size | USD 185mn |
| Type | Convertible |
| Leads | JP Morgan, Morgan Stanley |
| Maturity | 15 Sep 2030 (4 years) |
| Coupon | 7% (6.5 - 7%) |
| Premium | 35% (35%) |
| Calls | None |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | 130% to Jun 2030 (3.8 yrs) |
| Announced | 10 Sep 2026 |