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Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

Investing involves risk, including risk of loss.

You could lose money by investing in a money market fund. An investment in a money market fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Before investing, always read a money market fund’s prospectus for policies specific to that fund.

1. Proceeds from a life insurance policy may be subject to estate tax.

There are risks associated with investing in a public offering, including unproven management, and established companies that may have substantial debt. As such, they may not be appropriate for every investor. Customers should read the offering prospectus carefully, and make their own determination of whether an investment in the offering is consistent with their investment objectives, financial situation, and risk tolerance.

Alternative investments are investment products other than the traditional investments of stocks, bonds, mutual funds, or ETFs. Examples of alternative investments are limited partnerships, limited liability companies, real estate, and promissory notes. Each customer is responsible for reviewing the terms of all offering and disclosure documents and agreements associated with any alternative investment and determining the appropriateness of any alternative investment chosen, including the description of risk factors contained in the Memorandum prior to making a decision to invest. Some of the risks associated with alternative investments are:

- Alternative investments may be relatively illiquid, and there is no guarantee on the timing or amount of any dividends or distributions.
- It may be difficult to determine the current market value of the asset.
- There may be limited historical risk and return data.
- A high degree of investment analysis may be required before buying.
- Costs of purchase and sale may be relatively high

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

Investing in bonds involves risk, including interest rate risk, inflation risk, credit and default risk, call risk, and liquidity risk.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.

Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

The Fidelity Estate Planner is not an attorney referral service. When applicable, participating attorneys, or their respective law firms, have not paid a fee or compensation to be included or listed in the Fidelity Estate Planner, nor does Fidelity receive any fee or compensation for providing the law firm and attorney contact information to its customers.

Fidelity does not recommend or endorse any law firm or attorney listed in the Fidelity Estate Planner. Fidelity is not assessing your legal needs or providing legal advice in the Fidelity Estate Planner. There is no requirement that you select any of the law firms or attorneys in the list. You are free to select any law firm or attorney of your choice. The Fidelity Estate Planner is educational in nature and is not intended to serve as the primary basis of your estate and/or tax planning decisions.

FidSafe is a service of Fidelity Technology Group, LLC, a Fidelity Investments company, located at 245 Summer Street, V8B, Boston, MA 02210.

The Fidelity ETF Screener is a research tool provided to help self-directed investors evaluate these types of securities. The criteria and inputs entered are at the sole discretion of the user, and all screens or strategies with preselected criteria (including expert ones) are solely for the convenience of the user. Expert Screeners are provided by independent companies not affiliated with Fidelity. Information supplied or obtained from these Screeners is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell securities, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy or approach to screening or evaluating stocks, preferred securities, exchange-traded products, or closed-end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from its use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation, and other individual factors, and reevaluate them on a periodic basis.

Fidelity Wealth Advisor Solutions® (WAS) is provided by Strategic Advisers LLC (Strategic Advisers), a registered investment adviser and a Fidelity Investments company. WAS is a referral service designed for existing and prospective clients of Fidelity who seek to receive referrals to third-party independent investment advisory firms. In no event shall Strategic Advisers' providing the name of an investment advisor constitute a recommendation or opinion as to the quality or appropriateness of the investment advisor or their related advisory services. Participating investment advisors pay Strategic Advisers a referral fee. Please refer to Fidelity Wealth Advisor Solutions Form ADV, Part 2A Brochure for further details.

Fully paid securities are securities in a customer's account that have been completely paid for. Excess-margin securities are securities that have not been completely paid for, but whose market value exceeds 140% of the customer's margin debit balance to National Financial Services LLC. Securities on loan are available to sell online from the “cash” account type. Positions held in cash must be sold separately from positions held in margin. Proceeds from sales of securities on loan may not be immediately available for new purchases. The credit adjustment percentage may be increased or decreased from time to time by Fidelity due to changes in federal and/or state tax law and the classification of the dividend distribution. Fidelity does not guarantee that this adjustment will be sufficient to eliminate the full additional tax burden associated with all dividend distributions. Fidelity reserves the right to deny credit adjustments to any customer whom Fidelity determines would have been otherwise ineligible to receive the tax benefit of a reduced dividend tax rate. The Fully Paid Lending Program is only a means to realize increased income on certain securities and does not provide any downside protection or “hedge” against the customer’s lending position(s) or portfolio. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in and receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. All references to Fidelity include National Financial Services LLC (“NFS”) and Fidelity Brokerage Services LLC (“FBS”), Members NYSE, SIPC. Fidelity Capital Markets is a division of National Financial Services LLC. Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC.

The Equity Summary Score is provided for informational purposes only, does not constitute advice or guidance, and is not an endorsement or recommendation for any particular security or trading strategy. The Equity Summary Score is provided by LSEG StarMine, an independent company not affiliated with Fidelity Investments. For more information and details, go to Fidelity.com.

Fidelity's Planning and Guidance center allows you to create and monitor multiple independent financial goals. While there is no fee to generate a plan, expenses charged by your investments and other fees associated with trading or transacting in your account would still apply. You are responsible for determining whether, and how, to implement any financial planning considerations presented, including asset allocation suggestions, and for paying applicable fees. Financial planning does not constitute an offer to sell, a solicitation of any offer to buy, or a recommendation of any security by Fidelity Investments or any third-party.

Past performance is no guarantee of future results.

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.

Fidelity advisors are licensed with Strategic Advisers LLC (Strategic Advisers), a registered investment adviser, and registered with Fidelity Brokerage Services LLC (FBS), a registered broker-dealer. Whether a Fidelity advisor provides advisory services through Strategic Advisers for a fee or brokerage services through FBS will depend on the products and services you choose.

Margin trading entails greater risk, including, but not limited to, risk of loss and incurrence of margin interest debt, and is not suitable for all investors. Please assess your financial circumstances and risk tolerance before trading on margin. Margin credit is extended by National Financial Services, Member NYSE, SIPC.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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