Municipal Resets New Issue Offerings

* Some Municipal Resets do not pay holders their coupon payment on the auction date. This means that when purchasing such a municipal reset investors will have to pay accrued interest to account for the interest between the most recent coupon date and the current auction date. Accrued interest is paid back to the investor in their first semiannual interest payment.

System availability and response time is subject to market conditions.

The "Current Rate" is the coupon prevailing in the current reset period and does not imply the next reset coupon rate will be the same or similar.

The rates quoted in the "Next Anticipated Rate" column are provided to Fidelity by the auction agents and are intended as a guide for the submission of orders at the next auction of that security.

When an order may be placed on a particular municipal reset its corresponding "Trade" link will appear in the offering table. Orders may only be placed on the day of the auction between the hours of 7am - 11am ET and for those securities that reset on a daily basis between 7am - 10am ET.

Existing holders of municipal resets who do not place an order for the next auction, will continue to hold the security and its coupon paid will change to reflect the clearing rate determined at the auction for the duration of the next rate period.

Interest income generated by municipal bonds is generally expected to be free from federal income taxes and, if the bonds are held by an investor resident in the state of issuance, state and local income taxes. Such interest income may be subject to federal and/or state alternative minimum taxes. Short- and long-term capital gains and gains characterized as market discount recognized when bonds are sold or mature are generally taxable at both the state and federal level.

Investing in municipal bonds for the purpose of generating tax-exempt income is generally more beneficial to investors in higher tax brackets. Tax-advantaged accounts such as IRAs and 401(k)s are generally not appropriate for holding tax-exempt municipal securities.

Market prices of zero coupon bonds tend to be more volatile than bonds which pay interest regularly. The full value of zero coupon bonds, including accrued interest, is not paid until maturity. Interest on taxable zero-coupon bonds is imputed annually as accreted interest and is subject to income taxes even though no payment was actually received by you that year. This is often referred to as "phantom interest."

The federal tax exempt status of a security or its treatment for federal alternative minimum tax purposes is based on information supplied by third parties. It is provided for general informational purposes only. Consult the security's prospectus for more complete information regarding its tax status.

Actual yield and coupon may vary and will be determined on pricing date.

Fidelity's online fixed income service identifies specific fixed income securities which match the investment criteria that you select. As with all of your fixed income investments including CDs offered through Fidelity, you must make your own determination as to whether any of these securities are consistent with your investment objectives and risk tolerance. Fidelity is not recommending or endorsing any of these securities by making them available to its customers. If you enter an order, Fidelity may notify you that the security is more aggressive than your stated investment objective for your account.

The above offerings will generally not represent the universe of outstanding securities and should not be construed as all-inclusive.

Prices and yields are posted prior to the assessment of the Fidelity Brokerage Services LLC ("FBS") markup or markdown. The FBS markup or markdown will be applied for customer review prior to placement of the order. Bonds are made available through our affiliate National Financial Services LLC and from various third-party providers, including participants on the BondDesk platform, with FBS normally acting as riskless principal or agent.

The offering broker, which may be our affiliate National Financial Services LLC ("NFS"), may separately mark up or mark down the price of the security and may realize a trading profit or loss on the transaction.

During normal market hours, the prices above are live prices, which are updated for each executed trade and at least every fifteen minutes. However, due to the possibility of system outages, untimely information provided by vendors, or various other reasons, Fidelity cannot guarantee the timeliness or accuracy of prices displayed. Price is subject to change and may be affected by availability and size of order. Yields are as of standard settlement and reflect the lower of the yield to maturity or the yield to call unless otherwise noted.

Any fixed income security including CDs sold or redeemed prior to maturity may be subject to a gain or loss.

Although content is continuously supplied, it is only valid as of the date published and may become unreliable because of subsequent market conditions or other reasons.

In general, the bond market is volatile, bond prices rise when interest rates fall and vice versa. This effect is usually pronounced for longer-term securities.

Bond ratings are from Standard & Poors and/or Moody's.

Related News is supplied by various third-party sources that are not affiliated with Fidelity or its affiliates. Fidelity has not been involved in the preparation of the content, does not alter or change content from third-party sources, and does not explicitly or implicitly endorse or approve such content. Content is provided for informational and/or education purposes only. You must make your own evaluation of how the information may influence your investment decision.

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

During certain time periods, the services may not provide access to certain content with respect to securities of issuers which are the subject of public offerings that are made available to Fidelity's brokerage customers.