GOF P1 01/21
SUPPLEMENT DATED JANUARY 4, 2021
TO THE CURRENTLY EFFECTIVE PROSPECTUSES
OF EACH FUND LISTED BELOW
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Franklin California Tax-Free Income Fund Franklin California Tax-Free Trust Franklin California Intermediate-Term Tax-Free Income Fund Franklin Federal Tax-Free Income Fund Franklin Municipal Securities Trust Franklin California High Yield Municipal Fund Franklin Tennessee Municipal Bond Fund Franklin New York Tax-Free Income Fund Franklin New York Tax-Free Trust Franklin New York Intermediate-Term Tax-Free Income Fund Franklin Tax-Free Trust Franklin Federal Intermediate-Term Tax-Free Income Fund Franklin Federal Limited-Term Tax-Free Income Fund Franklin High Yield Tax-Free Income Fund Franklin
Massachusetts Tax-Free Income Fund
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Franklin Tax-Free Trust Franklin Alabama Tax-Free Income Fund Franklin Florida Tax-Free Income Fund Franklin Georgia Tax-Free Income Fund Franklin Kentucky Tax-Free Income Fund Franklin Louisiana Tax-Free Income Fund Franklin Maryland Tax-Free Income Fund Franklin Missouri Tax-Free Income Fund Franklin Municipal Green Bond Fund Franklin North Carolina Tax-Free Income Fund Franklin Virginia Tax-Free Income Fund Franklin Arizona Tax-Free Income Fund Franklin Colorado Tax-Free Income Fund Franklin Connecticut Tax-Free Income Fund Franklin Michigan Tax-Free Income Fund Franklin Minnesota Tax-Free Income Fund Franklin Ohio Tax-Free Income Fund Franklin Oregon Tax-Free Income Fund Franklin Pennsylvania Tax-Free Income Fund
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I. Effective on March 8, 2021, the Funds’ front-end sales charge schedule for Class A and Class A1 shares will be changed to the following:
Long Term Tax-Free Funds (all Funds except Franklin California Intermediate-Term Tax-Free Income Fund, Franklin New York Intermediate-Term Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income Fund and Franklin Federal Limited-Term Tax-Free Income Fund)
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When you invest this amount |
The sales charge makes up this % of the offering price |
Which equals this % of your net investment |
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Under $100,000 |
3.75 |
3.90 |
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$100,000 but under $250,000 |
3.25 |
3.36 |
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$250,000 or more |
0.00 |
0.00 |
Short and Intermediate Term Tax-Free Funds (Franklin California Intermediate-Term Tax-Free Income Fund, Franklin New York Intermediate-Term Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income Fund and Franklin Federal Limited-Term Tax-Free Income Fund)
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When you invest this amount |
The sales charge makes up this % of the offering price |
Which equals this % of your net investment |
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Under $100,000 |
2.25 |
2.30 |
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$100,000 but under $250,000 |
1.75 |
1.78 |
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$250,000 or more |
0.00 |
0.00 |
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II. Also effective on March 8, 2021, if you invest $250,000 or more in a Fund, you will be able to buy Class A or A1 shares without an initial sales charge. However, there will be a 1% contingent deferred sales charge (CDSC) on any shares of a Fund that you sell within 18 months of purchase.
Please keep this supplement with your prospectus for future reference.
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