TF1 P1 08/19
SUPPLEMENT DATED AUGUST 6, 2019
TO THE PROSPECTUS DATED July 1, 2019
OF
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
Franklin new jersey Tax-Free Income Fund
(Franklin Tax-Free Trust)
I. The chart under the “Your Account – Choosing a Share Class – Sales Charges – Class A & A1” section of the prospectus is replaced with the following:
|
Sales Charges - Class A & A1 |
|
|
|
when you invest this amount |
the sales charge makes up this % of the offering price1 |
which equals this % of |
|
All Funds (except Federal |
|
|
|
Under $100,000 |
3.75 |
3.90 |
|
$100,000 but under $250,000 |
3.25 |
3.36 |
|
$250,000 but under $500,000 |
2.25 |
2.30 |
|
$500,000 or more |
0.00 |
0.00 |
|
Federal Intermediate-Term Fund & |
|
|
|
Under $100,000 |
2.25 |
2.30 |
|
$100,000 but under $250,000 |
1.75 |
1.78 |
|
$250,000 but under $500,000 |
1.25 |
1.27 |
|
$500,000 or more |
0.00 |
0.00 |
1. The dollar amount of the sales charge is the difference between the offering price of the shares purchased (which factors in the applicable sales charge in this table) and the net asset value of those shares. Since the offering price is calculated to two decimal places using standard rounding criteria, the number of shares purchased and the dollar amount of the sales charge as a percentage of the offering price and of your net investment may be higher or lower depending on whether there was a downward or upward rounding.
Please keep this supplement with your prospectus for future reference.