0001741773-24-002876.txt : 20240718 0001741773-24-002876.hdr.sgml : 20240718 20240718093105 ACCESSION NUMBER: 0001741773-24-002876 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240718 DATE AS OF CHANGE: 20240718 EFFECTIVENESS DATE: 20240718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price New Income Fund, Inc. CENTRAL INDEX KEY: 0000080249 ORGANIZATION NAME: 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: 241123849 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, 2023

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

Effective immediately, Christopher P. Brown and Anna Alexandra Dreyer will replace Stephen L. Bartolini and Saurabh Sud as the fund’s co-portfolio managers and cochairs of the fund’s Investment Advisory Committee. Mr. Brown joined T. Rowe Price in 2005 and Ms. Dreyer joined T. Rowe Price in 2008.

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

Effective immediately, Christopher P. Brown and Anna Alexandra Dreyer will replace Stephen L. Bartolini and Saurabh Sud as the fund’s co-portfolio managers and cochairs of the fund’s Investment Advisory Committee. Mr. Brown joined the Firm in 2005, and his investment experience dates from 2000. During the past five years, he has served as a portfolio manager and as the head of Securitized Products in the Firm’s Fixed Income Division. Ms. Dreyer joined the Firm in 2008, and her investment experience dates from that time. During the past five years, she has served as a portfolio manager and as the head of Fixed Income Quantitative Risk and Portfolio Construction Research in the Firm’s Fixed Income Division. Prior to joining the Firm’s Fixed Income Division, she was a portfolio manager and an associate director of research in the Firm’s Multi-Asset Division.

The date of this supplement is July 18, 2024.

F43-041 7/18/24