2017 Return of Capital and Reclassifications
Return of Capital

If a T. Rowe Price fund pays out more in distributions than it earned during the year, you do not owe tax on your share of the excess amount, which is called a "nontaxable distribution" or "return of capital." We report this type of distribution in Box 3 of Form 1099-DIV. You will need to subtract any amounts reported in Box 3 of Form 1099-DIV from the cost basis of your shares. For information on IRS Form 8937 and organizational actions affecting the basis of securities, including items such as mergers, fund liquidations, and reclassifications that affect cost basis, commonly referred to as "corporate actions," please visit our website at Corporate Actions.

Listed below are the 2017 dividends paid by the T. Rowe Price funds that have a return of capital for Form 1099-DIV purposes.

2017 Return of Capital
T. Rowe Price Fund 2017 Payment Date Per Share Amount Tax Character
Before After
Emerging Markets Bond 01/31/2017 $0.001231527 Income Dividend Return of Capital
Emerging Markets Bond 02/28/2017 $0.001302930 Income Dividend Return of Capital
Emerging Markets Bond 03/31/2017 $0.001445407 Income Dividend Return of Capital
Emerging Markets Bond 04/28/2017 $0.001172214 Income Dividend Return of Capital
Emerging Markets Bond 05/31/2017 $0.001262829 Income Dividend Return of Capital
Emerging Markets Bond 06/30/2017 $0.001353015 Income Dividend Return of Capital
Emerging Markets Bond 07/31/2017 $0.001206650 Income Dividend Return of Capital
Emerging Markets Bond 08/31/2017 $0.001324571 Income Dividend Return of Capital
Emerging Markets Bond 09/29/2017 $0.001395804 Income Dividend Return of Capital
Emerging Markets Bond 10/31/2017 $0.001320562 Income Dividend Return of Capital
Emerging Markets Bond 11/30/2017 $0.001198351 Income Dividend Return of Capital
Emerging Markets Bond - I Class 01/31/2017 $0.001258690 Income Dividend Return of Capital
Emerging Markets Bond - I Class 02/28/2017 $0.001333220 Income Dividend Return of Capital
Emerging Markets Bond - I Class 03/31/2017 $0.001482218 Income Dividend Return of Capital
Emerging Markets Bond - I Class 04/28/2017 $0.001206161 Income Dividend Return of Capital
Emerging Markets Bond - I Class 05/31/2017 $0.001294235 Income Dividend Return of Capital
Emerging Markets Bond - I Class 06/30/2017 $0.001387139 Income Dividend Return of Capital
Emerging Markets Bond - I Class 07/31/2017 $0.001224903 Income Dividend Return of Capital
Emerging Markets Bond - I Class 08/31/2017 $0.001350899 Income Dividend Return of Capital
Emerging Markets Bond - I Class 09/29/2017 $0.001412061 Income Dividend Return of Capital
Emerging Markets Bond - I Class 10/31/2017 $0.001344225 Income Dividend Return of Capital
Emerging Markets Bond - I Class 11/30/2017 $0.001218516 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  01/31/2017 $0.001462589 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  02/28/2017 $0.001520725 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  03/31/2017 $0.001800154 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  04/28/2017 $0.001535404 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  05/31/2017 $0.001564842 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  06/30/2017 $0.001723720 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  07/31/2017 $0.001551783 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  08/31/2017 $0.001633737 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  09/29/2017 $0.001627350 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  10/31/2017 $0.001528220 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  11/30/2017 $0.001508486 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 01/31/2017 $0.001541205 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 02/28/2017 $0.001587584 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 03/31/2017 $0.001838324 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 04/28/2017 $0.001570678 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 05/31/2017 $0.001600814 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 06/30/2017 $0.001769494 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 07/31/2017 $0.001580965 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 08/31/2017 $0.001675937 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 09/29/2017 $0.001667557 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 10/31/2017 $0.001564536 Income Dividend Return of Capital
Emerging Markets Local Currency Bond  - I Class 11/30/2017 $0.001542754 Income Dividend Return of Capital
Global Multi-Sector Bond 01/31/2017 $0.033694189 Income Dividend Return of Capital
Global Multi-Sector Bond 02/28/2017 $0.031703663 Income Dividend Return of Capital
Global Multi-Sector Bond 03/31/2017 $0.033406345 Income Dividend Return of Capital
Global Multi-Sector Bond 04/28/2017 $0.027922956 Income Dividend Return of Capital
Global Multi-Sector Bond - I Class 01/31/2017 $0.034768655 Income Dividend Return of Capital
Global Multi-Sector Bond - I Class 02/28/2017 $0.032956698 Income Dividend Return of Capital
Global Multi-Sector Bond - I Class 03/31/2017 $0.034929238 Income Dividend Return of Capital
Global Multi-Sector Bond - I Class 04/28/2017 $0.030841612 Income Dividend Return of Capital
Short-Term Bond 01/31/2017 $0.000297420 Income Dividend Return of Capital
Short-Term Bond 02/28/2017 $0.000317434 Income Dividend Return of Capital
Short-Term Bond 03/31/2017 $0.000353594 Income Dividend Return of Capital
Short-Term Bond 04/28/2017 $0.000307471 Income Dividend Return of Capital
Short-Term Bond - I Class 01/31/2017 $0.000303529 Income Dividend Return of Capital
Short-Term Bond - I Class 02/28/2017 $0.000337440 Income Dividend Return of Capital
Short-Term Bond - I Class 03/31/2017 $0.000376358 Income Dividend Return of Capital
Short-Term Bond - I Class 04/28/2017 $0.000325349 Income Dividend Return of Capital
Reclassifications

A reclassification means that the tax character of the dividend on your Form 1099-DIV is different than the tax character reported on your statement, which reported the dividend to you. Tax character indicates whether the dividend is from taxable or tax-exempt income or is a short-term or long-term gain.

Listed below are the 2017 dividends paid by the T. Rowe Price funds that have been reclassified for Form 1099-DIV purposes.

2017 Reclassifications
T. Rowe Price Fund 2017 Payment Date Per Share Amount Tax Character
Before After
Dynamic Global Bond 11/30/2017 $0.004520351 Income Dividend Long-Term Capital Gain
Dynamic Global Bond -  I Class 11/30/2017 $0.004520351 Income Dividend Long-Term Capital Gain
Emerging Markets Bond 11/30/2017 $0.011381451 Income Dividend Long-Term Capital Gain
Emerging Markets Bond - I Class 11/30/2017 $0.011381451 Income Dividend Long-Term Capital Gain
Global High Income Bond 11/30/2017 $0.004519140 Income Dividend Long-Term Capital Gain
Global High Income Bond - I Class 11/30/2017 $0.004519140 Income Dividend Long-Term Capital Gain
Global Real Estate 9/28/2017 $0.003557187 Income Dividend Long-Term Capital Gain
Global Real Estate 12/19/2017 $0.100000000 Income Dividend Long-Term Capital Gain
Global Real Estate - I Class 9/28/2017 $0.003557187 Income Dividend Long-Term Capital Gain
Global Real Estate - I Class 12/19/2017 $0.100000000 Income Dividend Long-Term Capital Gain
International Bond 11/30/2017 $0.004290507 Income Dividend Long-Term Capital Gain
International Bond - I Class 11/30/2017 $0.004290507 Income Dividend Long-Term Capital Gain
Real Estate Fund 12/14/2017 $0.173424003 Income Dividend Long-Term Capital Gain
Real Estate Fund - I Class 12/14/2017 $0.173424003 Income Dividend Long-Term Capital Gain