T. Rowe Price Global Multi-Sector Bond Fund

This fund's main objective is to generate significant current income, with a secondary goal of achieving some capital growth. Its core strategy involves allocating at least 80% of its net assets, including any borrowed funds used for investment, to bonds. To help achieve its income and growth targets, the fund maintains a diversified portfolio of holdings. A substantial portion of the fund, typically at least 40% of its net assets, will be invested in securities issued by non-U.S. governments or companies, or by companies that conduct a significant amount of business outside the United States. However, this international allocation may be reduced to a minimum of 30% if the investment adviser deems foreign market conditions to be unfavorable.