0001741773-23-000980.txt : 20230330 0001741773-23-000980.hdr.sgml : 20230330 20230330081619 ACCESSION NUMBER: 0001741773-23-000980 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20230330 DATE AS OF CHANGE: 20230330 EFFECTIVENESS DATE: 20230330 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: 23777247 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 C000219349 T. Rowe Price New Income Fund-Z Class TRVZX 497K 1 c497k.htm

T. Rowe Price New Income Fund

Supplement to Prospectus and Summary Prospectus dated October 1, 2022

The following change is effective as of May 1, 2023.

In the Summary Prospectus and Section 1 of the Prospectus, the portfolio manager table under “Management” is supplemented as follows:

Saurabh Sud will join Stephen L. Bartolini as co-portfolio manager and cochair of the fund’s Investment Advisory Committee. Mr. Sud joined T. Rowe Price in 2018.

In Section 2 of the Prospectus, the disclosure under “Portfolio Management” is supplemented as follows:

Saurabh Sud will join Stephen L. Bartolini as co-portfolio manager and cochair of the fund’s Investment Advisory Committee. Mr. Sud joined the Firm in 2018, and his investment experience dates from 2006. During the past five years, he has served as a portfolio manager with the Firm.

The date of this supplement is March 30, 2023.

F43-041 3/30/23