0001177017-18-000015.txt : 20180501 0001177017-18-000015.hdr.sgml : 20180501 20180501091057 ACCESSION NUMBER: 0001177017-18-000015 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20180501 DATE AS OF CHANGE: 20180501 EFFECTIVENESS DATE: 20180501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price New Income Fund, Inc. CENTRAL INDEX KEY: 0000080249 IRS NUMBER: 520980581 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-48848 FILM NUMBER: 18793459 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE NEW INCOME FUND INC DATE OF NAME CHANGE: 19940727 0000080249 S000002136 T. Rowe Price New Income Fund, Inc. C000005529 T. Rowe Price New Income Fund, Inc. PRCIX C000005530 T. Rowe Price New Income Fund-Advisor Class PANIX C000005531 T. Rowe Price New Income Fund-R Class RRNIX C000159679 T. Rowe Price New Income Fund-I Class PRXEX 497K 1 nifproxysticker5118-may4.htm Untitled Document

T. Rowe Price New Income Fund

Supplement to Prospectus and Summary Prospectus Dated October 1, 2017

On March 5, 2018, the fund’s Board of Directors approved a proposed amendment to the fund’s investment objective. The change is subject to shareholder approval at a special shareholder meeting scheduled for July 25, 2018. Proxy materials describing the proposed investment objective change and the rationale for the proposal are expected to begin mailing to shareholders on May 11, 2018. All fund shareholders who held shares at the close of business on April 26, 2018, are eligible to vote on the proposal.

The fund’s current investment objective is as follows:

“The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities.”

The Board proposes that the fund’s investment objective be changed to the following:

“The fund seeks to maximize total return through income and capital appreciation.”

No material changes are anticipated to the fund’s current investment program or to the fund’s overall risk profile as a result of these changes. However, the Board believes that it is in the interests of the fund’s shareholders to approve a more general investment objective that better reflects current investment strategies and to allow the fund greater long-term flexibility to execute its investment program.

If the proposed amendment to the fund’s investment objective is approved by shareholders, it is expected to become effective on or about August 1, 2018.

The date of this supplement is May 1, 2018.

F43-042 5/1/2018