T. Rowe Price New Income Fund
On July 25, 2018, the T. Rowe Price New Income Funds shareholders approved a proposal to amend the funds investment objective. The change will go into effect on August 1, 2018. Accordingly, the investment objective on page 1 is revised as follows:
The fund seeks to maximize total return through income and capital appreciation.
F43-043 7/30/2018