You should carefully consider a fund’s investment goals, risks, charges and expenses before investing. You’ll find this and other information in the fund’s summary
prospectus and/or prospectus, which you can obtain from your financial advisor. Please read a prospectus carefully before investing.
Dividends will vary depending on the fund’s income, and past distributions are not indicative of future trends.
All investments involve risks, including possible loss of principal. The fund’s share price and yield will be affected by interest rate movements. Bond prices generally move in the
opposite direction of interest rates. Thus, as the prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline. Changes in the financial strength
of a bond issuer or in a bond’s credit rating may affect its value. The fund’s portfolio includes a substantial portion of higher-yielding, lower-rated corporate bonds because of the
relatively higher yields they offer. Floating-rate loans are lower-rated, higher-yielding instruments, which are subject to increased risk of default and can potentially result in loss
of principal. These securities carry a greater degree of credit risk relative to investment-grade securities. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors
affecting individual companies, particular industries or sectors, or general market conditions. These and other risk considerations are discussed in the fund’s prospectus.
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Learn more at franklintempleton.com/retirementincome
FRANKLIN INCOME FUND
For your clients in or nearing retirement,
earning monthly investment income is
a top priority. And since 1948, our
investors have come to expect regular
income delivered on time, every time.