Form 497K John Hancock Funds III

John Hancock Funds III

Supplement dated June 28, 2016 to the current Class R2 and Class R4 Summary Prospectus

John Hancock Core High Yield Fund (the “Fund”)

Effective June 28, 2016, Class R2 and Class R4 shares of the Fund will be closed to new investors.

Other share classes of the Fund will continue to be made available to all current and eligible prospective investors.

You should read this Supplement in conjunction with the Summary Prospectus and retain it for future reference.

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