Putnam Investments
One Post Office Square
Boston, MA 02109
January 5, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
RE: Putnam High Yield Trust (Reg. No. 2-60492) (811-2796) (the "Fund")
Post-Effective Amendment No. 26 to Registration Statement on Form N-1A
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended, the
Fund hereby certifies that the form of Prospectus and Statement of Additional
Information that would have been filed on behalf of the Fund pursuant to Rule
497(c) upon the effectiveness of Post-Effective Amendment No. 26 to the Fund's
Registration Statement on Form N-1A (the "Amendment") would not have differed
from that contained in the Amendment, which is the most recent amendment to
such Registration Statement and was filed electronically on December 28, 1999.
Comments or questions concerning this certificate may be directed to Jill
Grossberg at 1-800-225-2465, ext. 11913.
Very truly yours,
Putnam High Yield Trust
By: /s/ Gordon H. Silver
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Gordon H. Silver
Vice President
cc: Gregory Pusch, Esq., Ropes & Gray
