M&A - FIDELITY SALEM STREET TRUST

Form Type: 497

Filing Date: 2025-04-01

Corporate Action: Merger

Type: New

Accession Number: 000003531525000363

Filing Summary: On September 19, 2024, the Board of Trustees of Fidelity Salem Street Trust approved the reorganization of the Fidelity® Municipal Core Plus Bond Fund into an Exchange Traded Fund (ETF) named Fidelity Municipal Bond Opportunities ETF. This decision aims to be beneficial for shareholders, ensuring that their interests are not diluted by the conversion. A special shareholder meeting on March 12, 2025, confirmed shareholder approval for this Conversion. The reorganization is scheduled to take effect at the close of business on April 4, 2025. Shareholders' Fund shares will be converted to ETF shares based on their net asset value, and those holding shares in accounts that cannot manage ETF transactions will need to take specific actions to avoid liquidation of their Fund shares. The Conversion is structured to be tax-free under U.S. tax law, generally allowing shareholders to avoid a taxable event unless cash payments are received for fractional shares. Fidelity anticipates multiple advantages for investors, including reduced expenses and enhanced trading flexibility, while maintaining the same investment strategies post-conversion.

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Form Type: 497

Filing Date: 2025-01-31

Corporate Action: Merger

Type: New

Accession Number: 000003531525000135

Filing Summary: The Board of Trustees of Fidelity Salem Street Trust approved the reorganization of the Fidelity Municipal Bond Index Fund into an Exchange Traded Fund (ETF), named Fidelity Systematic Municipal Bond Index ETF, effective April 4, 2025. The ETF will continue to be managed by Fidelity Management & Research Company LLC. Shareholders will receive ETF shares equivalent in value to their current holdings, with potential cash payments for fractional shares. The Conversion aims to provide lower expenses, increased portfolio transparency, and additional trading flexibility. Fund shares need to be held in accounts capable of holding ETFs, or shareholders risk liquidation and receiving cash distributions. Existing shareholders can continue to buy shares until February 18, 2025, and redeem shares until April 3, 2025. An information statement detailing the Conversion will be distributed to shareholders before it happens.

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Form Type: 497K

Filing Date: 2025-01-31

Corporate Action: Merger

Type: New

Accession Number: 000003531525000141

Filing Summary: The Board of Trustees of Fidelity Salem Street Trust approved the reorganization of the Fidelity Municipal Bond Index Fund into an Exchange Traded Fund (ETF) to be managed by Fidelity Management & Research Company LLC. The Conversion will occur on April 4, 2025, and existing shareholders will receive ETF shares with the same aggregate net asset value of their Fund shares. This conversion aims to provide investors with lower expenses, enhanced trading flexibility, and increased portfolio transparency. If shareholders' accounts do not allow ETF holdings, they must take action to avoid liquidation of their shares. The reorganization is structured as a tax-free event under the U.S. Internal Revenue Code, meaning shareholders typically won't incur taxable gains due to the conversion. An information statement/prospectus will be filed with the SEC detailing the conversion and ETF information, and shareholders are encouraged to review it once available. The last day to redeem or exchange Fund shares before the Conversion is April 3, 2025, and new investments in the Fund will cease on February 18, 2025.

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