Putnam Master Intermediate Income Trust announces a share repurchase program. Under the program, the company will repurchase up to a total of 10% of its outstanding common shares beginning October 10, 2017. The share repurchase program is intended to enhance shareholder value, as repurchases made at a discount will have the effect of increasing the net asset value per share of the applicable fund's remaining shares. The program will run over a period of 12 months and will end on October 9, 2018.