Liquidation: VICTORY PORTFOLIOS III

Form Type: 497

Filing Date: 2025-01-08

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325000119

Filing Summary: This document serves as a supplement to the Summary Prospectus, Prospectus, and Statement of Additional Information for Victory Portfolios III, detailing a Plan of Liquidation approved by the Board of Trustees for the Fund’s Class A shares. The liquidation is anticipated to occur on or about January 30, 2025, at which point all outstanding shares will be redeemed at their net asset value. As of January 8, 2025, the Class A shares will be closed to new investors, though existing shareholders may still make investments until the liquidation date. Importantly, no other classes of the Fund are impacted by this liquidation decision. Additionally, the document notes the removal of Appendix A from the Prospectus.

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Form Type: 497K

Filing Date: 2025-01-08

Corporate Action: Liquidation

Type: New

Accession Number: 000168386325000120

Filing Summary: This document serves as a supplement dated January 8, 2025, regarding changes to the Victory New York Bond Fund Class A Liquidation Summary Prospectus. On December 13, 2024, the Board of Trustees approved a Plan of Liquidation for the Fund’s Class A shares, with a liquidation expected on or about January 30, 2025. On this date, all outstanding shares will be redeemed at net asset value. The share class will be closed to new investors effective January 8, 2025, though it will continue to accept additional investments from current shareholders until the liquidation date. No other classes of the Fund are affected. Additionally, Appendix A has been removed from the Prospectus.

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