xterm rlwrap sbcl

I know next to nothing about terminals.  My .profile says TERM=xterm.

$ echo $TERM
xterm

I really am running PuTTY on Windows and logging in to a FreeBSD system.

When I invoke ``rlwrap sbcl'', I get a little bug:

--8<-------------------------------------------------------->8---
$ rlwrap sbcl
This is SBCL 2.4.9, an implementation of ANSI Common Lisp.
More information about SBCL is available at <http://www.sbcl.org/>.

SBCL is free software, provided as is, with absolutely no warranty.
It is mostly in the public domain; some portions are provided under
BSD-style licenses.  See the CREDITS and COPYING files in the
distribution for more information.
* (f(format t "hello~%")
hello
NIL
--8<-------------------------------------------------------->8---

Of course, I typed

  (format t "hello~%")

but we end up seeing

  (f(format t "hello~%")

If I type

  (write-string "hello")

we end up with

* (w(write-string "hello")
hello
"hello"

You get the idea.  This doesn't happen with other programs.  It seems to
be something specific to sbcl, though I could hardly believe that sbcl
is guilty of anything here.

Any remedies?