As reported to the FAA. Reports are unverified, and codes are left as the FAA publishes them.
What was found
RIGHT ENGINE HAD A LOUD BANG AND RED LINED ITT AT ABOUT 500' AFTER TAKEOFF. REDUCED POWER TO IDLE. ENGINE CONTINUED TO RUN AT IDLE WITH AN ITT ABOUT 600 AND A LOUD WHINE. CONTINUED WITH IN FLIGHT PRECAUTIONARY SHUTDOWN. ENGINE VIBRATION ANNUNCIATOR WAS ALSO ON. R & R RT ENGINE IAW AMM 72-00-00. OPS AND LEAK CHECKED.