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Important Information Concerning Your Participation In The Smart Payment Program – Not Part Of Prospectus

Smart Payment Programsm Disclosure

You have purchased shares of a Fidelity Income Replacement Fundsm. The Fund's investment objective is intended to support a payment strategy designed to be implemented through your voluntary participation in the Smart Payment Program (the "Program"). This document summarizes the effect of your election to participate in the Program.

Fidelity Brokerage Services LLC and National Financial Services LLC (together, "Fidelity") will obtain a monthly payment on your behalf based upon a schedule of annual target payment rates determined by the Fund's adviser or its affiliate as described in the Fund's prospectus ("Monthly Payment"). The dollar amount of your Monthly Payment will depend on, among other factors, the Fund's annual target payment rate and the investment performance of and amount invested in the Fund, and may change from one year to the next. The dollar amount of your Monthly Payment will remain the same each month of a given calendar year, except in the Fund's final year when the final Monthly Payment may vary in connection with the liquidation of the fund. Actual Monthly Payments may vary slightly due to rounding. Buying or selling shares of the Fund generally will increase or decrease, respectively, the dollar amount of your Monthly Payment.

Your Monthly Payment will consist of the Fund's dividends for that month and, if such dividends are less than the dollar amount of your Monthly Payment, proceeds from the redemption of an appropriate number of your Fund shares required to meet the full dollar amount of your Monthly Payment. If the amount of the Fund's dividends for a given month is equal to or greater than the dollar amount of your Monthly Payment, then your entire Monthly Payment will be comprised of dividends, and any amount of dividends in excess of your Monthly Payment will be automatically reinvested in additional shares of the same Fund.

Your participation in the Program will result in the gradual liquidation of your entire investment in the Fund by its horizon date as described in the Fund's prospectus. Monthly Payments received within a tax-advantaged retirement account will be credited to the account's core account.

You have authorized Fidelity on a continuing basis to redeem, if necessary, the appropriate number of Fund shares each month to fulfill your Monthly Payment dollar amount that is not met by the payment of dividends by the Fund for that month. You have authorized Fidelity to reinvest automatically any dividends in excess of any Monthly Payment for a given month and all capital gain distributions in additional shares of the same fund.

Please note, the Fidelity Income Replacement Funds and the Smart Payment Program may not be appropriate for all investors. Investors who own a Fidelity Income Replacement Fund within a tax-advantaged retirement account and who elect to participate in the Smart Payment Program should consult with their tax advisers to discuss tax consequences that could result if payments are distributed from their core account prior to age 59-1/2 or they plan to use the Smart Payment Program, in whole or in part, to meet their annual minimum required distribution. You should consult a financial adviser or Fidelity representative to determine whether a Fidelity Income Replacement Fund is right for you.

You may contact Fidelity by telephone (1-800-FIDELITY) at any time to cancel your authorization to participate in the Smart Payment Program.