Form 497 AMERICAN BEACON FUNDS

American Beacon International Equity Fund

Supplement dated January 31, 2023

to the

Prospectus, Summary Prospectus, and Statement of Additional Information, each dated March 1, 2022, as previously amended or supplemented

Effective January 17, 2023, Kevin J. Matthews of Lazard Asset Management LLC no longer serves as a portfolio manager for the American Beacon International Equity Fund (the “Fund”). Accordingly, effective as of January 17, 2023, all references to Mr. Matthews in the Fund’s Prospectus, Summary Prospectus, and Statement of Additional Information are deleted.

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