May 2, 2016
James E. OConnor, Esquire
U.S. Securities & Exchange
Commission
Division of Investment Management
100 F Street, N.E.
Washington, D.C. 20549
Re: T. Rowe Price Balanced Fund, Inc.
T. Rowe Price Balanced FundI Class
File Nos. 033-38791/811-6275
T. Rowe Price Blue Chip Growth Fund, Inc.
T. Rowe Price Blue Chip Growth FundAdvisor Class
T. Rowe Price Blue Chip Growth FundI Class
T. Rowe Price Blue Chip Growth FundR Class
File Nos. 033-49581/811-7059
T. Rowe Price Capital Appreciation Fund
T. Rowe Price Capital Appreciation FundAdvisor Class
T. Rowe Price Capital Appreciation FundI Class
File Nos. 033-05646/811-4519
T. Rowe Price Capital Opportunity Fund, Inc.
T. Rowe Price Capital Opportunity FundAdvisor Class
T. Rowe Price Capital Opportunity FundR Class
File Nos. 033-56015/811-07225
T. Rowe Price Diversified Mid-Cap Growth Fund, Inc.
File Nos. 333-109958/811-21454
T. Rowe Price Dividend Growth Fund, Inc.
T. Rowe Price Dividend Growth FundAdvisor Class
T. Rowe Price Dividend Growth FundI Class
File Nos. 033-49187/811-7055
T. Rowe Price Equity Income Fund
T. Rowe Price Equity Income FundAdvisor Class
T. Rowe Price Equity Income FundI Class
T. Rowe Price Equity Income FundR Class
File Nos. 033-00070/811-4400
T. Rowe Price Financial Services Fund, Inc.
File Nos. 333-09551/811-07749
T. Rowe Price Global Real Estate Fund, Inc.
T. Rowe Price Global Real Estate FundAdvisor Class
File Nos. 333-153130/811-22218
T. Rowe Price Global Technology Fund, Inc.
File Nos. 333-40086/811-09995
T. Rowe Price Growth & Income Fund, Inc.
File Nos. 002-79190/811-3566
T. Rowe Price Growth Stock Fund, Inc.
T. Rowe Price Growth Stock FundAdvisor Class
T. Rowe Price Growth Stock FundI Class
T. Rowe Price Growth Stock FundR Class
File Nos. 002-10780/811-579
T. Rowe Price Health Sciences Fund, Inc.
T. Rowe Price Health Sciences FundI Class
File Nos. 033-63759/811-07381
T. Rowe Price Index Trust, Inc.
T. Rowe Price Equity Index 500 Fund
T. Rowe Price Equity Index 500 FundI Class
T. Rowe Price Extended Equity Market Index Fund
T. Rowe Price Mid-Cap Index Fund
T. Rowe Price Mid-Cap Index FundI Class
T. Rowe Price Small-Cap Index Fund
T. Rowe Price Small-Cap Index FundI Class
T. Rowe Price Total Equity Market Index Fund
File Nos. 033-32859/811-5986
T. Rowe Price Institutional Equity Funds, Inc.
T. Rowe Price Institutional Large-Cap Core Growth Fund
T. Rowe Price Institutional Large-Cap Growth Fund
T. Rowe Price Institutional Large-Cap Value Fund
T. Rowe Price Institutional Mid-Cap Equity Growth Fund
T. Rowe Price Institutional Small-Cap Stock Fund
T. Rowe Price Institutional U.S. Structured Research Fund
File Nos. 333-04753/811-07639
T. Rowe Price Institutional International Funds, Inc.
T. Rowe Price Institutional Emerging Markets Bond Fund
T. Rowe Price Institutional International Bond Fund
File Nos. 033-29697/811-5833
T. Rowe Price International Funds, Inc.
T. Rowe Price Emerging Markets Bond Fund
T. Rowe Price Emerging Markets Bond FundAdvisor Class
T. Rowe Price Emerging Markets Bond FundI Class
T. Rowe Price Emerging Markets Corporate Bond Fund
T. Rowe Price Emerging Markets Corporate Bond FundAdvisor Class
T. Rowe Price Emerging Markets Corporate Bond FundI Class
T. Rowe Price Emerging Markets Local Currency Bond Fund
T. Rowe Price Emerging Markets Local Currency Bond FundAdvisor Class
T. Rowe Price Emerging Markets Local Currency Bond FundI Class
T. Rowe Price Global Consumer Fund
T. Rowe Price Global High Income Bond Fund
T. Rowe Price Global High Income Bond FundAdvisor Class
T. Rowe Price Global High Income Bond FundI Class
T. Rowe Price Global Industrials Fund
T. Rowe Price Global Unconstrained Bond Fund
T. Rowe Price Global Unconstrained Bond FundAdvisor Class
T. Rowe Price Global Unconstrained Bond FundI Class
T. Rowe Price International Bond Fund
T. Rowe Price International Bond FundAdvisor Class
T. Rowe Price International Bond FundI Class
File Nos. 002-65539/811-2958
T. Rowe Price Media & Telecommunications Fund, Inc.
T. Rowe Price Media & Telecommunications FundI Class
File Nos. 333-27963/811-07075
T. Rowe Price Mid-Cap Growth Fund, Inc.
T. Rowe Price Mid-Cap Growth FundAdvisor Class
T. Rowe Price Mid-Cap Growth FundI Class
T. Rowe Price Mid-Cap Growth FundR Class
File Nos. 033-47806/811-6665
T. Rowe Price Mid-Cap Value Fund, Inc.
T. Rowe Price Mid-Cap Value FundAdvisor Class
T. Rowe Price Mid-Cap Value FundI Class
T. Rowe Price Mid-Cap Value FundR Class
File Nos. 333-02993/811-07605
T. Rowe Price Multi-Sector Account Portfolios, Inc.
T. Rowe Price Emerging Markets Corporate Multi-Sector Account Portfolio
T. Rowe Price Emerging Markets Local Multi-Sector Account Portfolio
File Nos. 333-178660/811-22620
T. Rowe Price New America Growth Fund
T. Rowe Price New America Growth FundAdvisor Class
T. Rowe Price New America Growth FundI Class
File Nos. 002-99122/811-4358
T. Rowe Price New Era Fund, Inc.
T. Rowe Price New Era FundI Class
File Nos. 002-29866/811-1710
T. Rowe Price New Horizons Fund, Inc.
T. Rowe Price New Horizons FundI Class
File Nos. 002-18099/811-958
T. Rowe Price Quantitative Management Funds, Inc.
T. Rowe Price QM Global Equity Fund
T. Rowe Price QM Global Equity FundAdvisor Class
T. Rowe Price QM Global Equity FundI Class
T. Rowe Price QM U.S. Small-Cap Growth Equity Fund
T. Rowe Price QM U.S. Small-Cap Growth Equity FundI Class
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity Fund
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity FundAdvisor Class
T. Rowe Price QM U.S. Small & Mid-Cap Core Equity FundI Class
T. Rowe Price QM U.S. Value Equity Fund
T. Rowe Price QM U.S. Value Equity FundAdvisor Class
T. Rowe Price QM U.S. Value Equity FundI Class
File Nos. 333-26323/811-08203
T. Rowe Price Real Assets Fund, Inc.
T. Rowe Price Real Assets FundI Class
File Nos. 333-166395/811-22410
T. Rowe Price Real Estate Fund, Inc.
T. Rowe Price Real Estate FundAdvisor Class
T. Rowe Price Real Estate FundI Class
File Nos. 333-36137/811-08371
T. Rowe Price Science & Technology Fund, Inc.
T. Rowe Price Science & Technology FundAdvisor Class
T. Rowe Price Science & Technology FundI Class
File Nos. 033-16567/811-5299
T. Rowe Price Small-Cap Stock Fund, Inc.
T. Rowe Price Small-Cap Stock FundAdvisor Class
T. Rowe Price Small-Cap Stock FundI Class
File Nos. 002-12171/811-696
T. Rowe Price Small-Cap Value Fund, Inc.
T. Rowe Price Small-Cap Value FundAdvisor Class
T. Rowe Price Small-Cap Value FundI Class
File Nos. 002-43237/811-2215
T. Rowe Price Spectrum Fund, Inc.
Spectrum Growth Fund
Spectrum Income Fund
Spectrum International Fund
File Nos. 033-10992/811-4998
T. Rowe Price U.S. Large-Cap Core Fund, Inc.
T. Rowe Price U.S. Large-Cap Core FundAdvisor Class
File Nos. 333-158764/811-22293
T. Rowe Price Value Fund, Inc.
T. Rowe Price Value FundAdvisor Class
T. Rowe Price Value FundI Class
File Nos. 033-54963/811-07209
Dear Mr. OConnor:
This letter is being filed in accordance with Rule 497(j) of the Securities Act of 1933. There are no changes to the funds Statement of Additional Information (SAI) or prospectuses that were filed under Rule 485(b) on April 27, 2016.
The prospectuses and SAI went effective automatically on May 1, 2016.
If you have any questions about this filing, please give me a call at 410-345-4981 or, in my absence, Brian R. Poole at 410-345-6646.
Sincerely,
/s/Tawanda L. Cottman
Tawanda L. Cottman