497 1 filing657.htm PRIMARY DOCUMENT

112 P2 10/18

 

 

FTI_pos_0114SUPPLEMENT DATED OCTOBER 10, 2018

TO THE PROSPECTUS DATED AUGUST 1, 2018

OF

FRANKLIN CALIFORNIA TAX-FREE INCOME FUND

 

 

The prospectus is amended as follows:

I. The following replaces the “Annual Fund Operating Expenses” and “Example” tables in the “Fund Summary – Fees and Expenses of the Fund” section of the prospectus:

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

   

Class A

Class A1

Class C 

Class R6

Advisor Class 

Management fees 

0.44% 

0.44% 

0.44% 

0.44% 

0.44% 

Distribution and service (12b-1) fees 

0.25% 

0.09% 

0.65% 

None 

None 

Other expenses1 

0.05% 

0.05% 

0.05% 

0.05% 

0.05% 

Total annual Fund operating expenses

0.74% 

0.58% 

1.14% 

0.49% 

0.49% 

Fee waiver and/or expense reimbursement2 

None 

None 

None 

-0.02% 

None 

Total annual Fund operating expenses after fee waiver and/or expense reimbursement2

0.74% 

0.58% 

1.14% 

0.47% 

0.49% 

1. The Fund publicly began offering Class A shares on September 10, 2018. Other expenses for Class A are based on estimated amounts for the current fiscal year. Other expenses have been restated to exclude non-recurring prior period expenses and, for Class R6, to reflect current fiscal year fees and expenses. If the prior period's non-recurring expenses were included in the table above, the amounts stated would have been greater. Consequently, the total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights.

2. The transfer agent has contractually agreed to cap transfer agency fees for Class R6 shares of the Fund so that transfer agency fees for that class do not exceed 0.01% until September 30, 2019. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

Example

   

1 Year 

3 Years 

5 Years 

10 Years 

Class A   

$497 

$651 

$819 

$1,304 

Class A1   

$482 

$603 

$735 

$1,120 

Class C   

$216 

$362 

$628 

$1,386 

Class R6   

$ 48 

$155 

$272 

$614 

Advisor Class   

$ 50 

$157 

$274 

$616 

If you do not sell your shares: 

 

 

 

 

Class C   

$116 

$362 

$628 

$ 1,386 

 

 

 

Please keep this supplement with your prospectus for future reference.