$400 Million Investment-Grade Notes Offering by Franklin Resources

Cleary Gottlieb represented Merrill Lynch, Morgan Stanley and Citigroup as representatives of the underwriters in a $400 million registered offering by Franklin Resources of investment-grade notes. The offering of $400 million of 2.850% Notes due 2025 launched and priced on March 25, 2015 and closed on March 30, 2015.

Franklin Resources is a global investment management organization operating as Franklin Templeton Investments. Franklin Resources’ common stock is traded on the New York Stock Exchange under the ticker symbol “BEN”, and is included in the Standard & Poor’s 500 Index. As of February 28, 2015 it had $894.1 billion in assets under management. In addition to investment management, Franklin Resources’ services include fund administration, sales, distribution, marketing, shareholder servicing, trustee, custody and other fiduciary services. Franklin Resources has offices in over 30 countries and clients in more than 150 which are serviced by over 650 investment professionals.