Franklin Templeton Announces Reorganization of Western Asset Total Return ETF into Western Asset Bond ETF

SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton today announced the reorganization of Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF).

The reorganization of WBND into WABF includes the transfer of substantially all of WBND’s assets, net of any liabilities, to WABF in exchange for shares of WABF. Shares of WABF will be distributed to current shareholders of WBND, and cash will be distributed in lieu of fractional shares, if applicable.

The reorganization is subject to the approval of WBND shareholders; the shareholder meeting is scheduled for December 13, 2024. If approved, it is anticipated that the reorganization will be completed in the first quarter of 2025.

It is anticipated that, in the fourth quarter of 2024, shareholders of WBND will receive a combined prospectus/proxy statement with details of the reorganization.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of July 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

All investments involve risks, including possible loss of principal. The fund is newly organized, with a limited history of operations. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Active management does not ensure gains or protect against market declines. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Active and frequent trading may increase a shareholder's tax liability and transaction costs. These and other risks are discussed in the fund’s prospectus.

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Franklin Distributors, LLC. Member FINRA/SIPC. Western Asset Management Company, LLC and Franklin Distributors, LLC are Franklin Templeton affiliated companies.

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