Putnam Premier Income Trust (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek high current income consistent with the preservation of capital by allocating its investments among the United States government sector, high yield sector and international sector of the fixed-income securities market. The Fund invests in higher yielding, lower-rated bonds that have a higher rate of default due to the nature of the investments. The Fund may invest a portion of their assets in securitized debt instruments, including mortgage-backed and asset-backed investments. The Fund may invest in stripped securities, which represent a participation in securities that may be structured in classes with rights to receive different portions of the interest and principal. The Fund's manager is Putnam Investment Management, LLC (Putnam Management), an indirect wholly owned subsidiary of Putnam Investments, LLC.