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MFS(R)CHARTER INCOME FUND
Supplement to the Current Prospectus
The Board of Trustees which oversees the MFS Charter Income Fund (the
"Fund") approved, at its regular meeting yesterday, the termination of the Fund
effective October 16, 2000, or as soon thereafter as practicable (the
"Termination Date"). Enclosed is a formal Notice of Termination which is
designed to answer any questions concerning the Fund's termination. If a
shareholder takes no action, his or her shares will be liquidated on the
Termination Date.
THE DATE OF THIS SUPPLEMENT OCTOBER 12, 2000.
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MFS(R)CHARTER INCOME FUND
NOTICE OF TERMINATION
NOTICE IS HEREBY GIVEN that the Trustees of MFS(R)Series Trust II (the "Trust")
have exercised their right, pursuant to Section 9.2(a) of the Trust's Amended
and Restated Declaration of Trust dated February 2, 1995, as amended, to
terminate MFS(R)Charter Income Fund, a series of the Trust (the "Fund"),
effective October 16, 2000, or as soon thereafter as practicable (the
"Termination Date"), at which time the Trustees will commence winding up the
affairs of the Fund.
TERMINATION DATE AND TERMS OF LIQUIDATION
Termination Date. October 16, 2000, or as soon thereafter as practicable.
Liquidation Price. The payment to be received by shareholders for their shares
will be 100% of the net asset value of the shares on the Termination Date.
Liquidation Procedure. Payment of the amount to be received upon liquidation
will be made by Merrill Lynch Japan Securities Co., Ltd. ("Merrill Lynch") to
shareholders in cash.
Cessation of Rights of Shareholders. As of the time and date that payment of
liquidation proceeds is made to holders of shares, but in no event later than
4:00 p.m. (United States Eastern time) on the Termination Date, such liquidated
shares will no longer be deemed outstanding and all rights with respect thereto
will cease after that date.
Share Certificates. Effective at 4:00 p.m. (United States Eastern time) on the
Termination Date, certificates for outstanding shares of the Fund will no longer
represent an interest in the Fund.
TAX TREATMENT
United States. For shareholders subject to U.S. taxation, any gain or loss
realized by the shareholder on a liquidation of the shares will be a taxable
gain or loss for federal income tax purposes. Special tax rules may affect the
computation of any gain or loss, depending on the length of time the shareholder
has held the shares. The Fund suggests that holders of the shares consult their
own tax advisers regarding federal, state and local tax treatment applicable to
them resulting from exchange or liquidation of the shares.
Japan. Capital gains and losses arising from repurchase of the Shares shall be
treated in the same way as those arising from purchase and sale of shares of a
domestic investment trust. The distribution of the net liquidation assets shall
be also treated in the same way as those arising from liquidation of a domestic
investment trust.
