# EDGAR Filing Document

**Accession Number:** 0001331971
**File Stem:** 0001133228-22-008106
**Filing Date:** 2023-1
**Character Count:** 26554
**Document Hash:** f17fab9d51c00cea4fdc82b80bf178f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-22-008106.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001133228-22-008106

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20221230

**EFFECTIVENESS DATE**: 20230103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** John Hancock Funds II
- **CENTRAL INDEX KEY:** 0001331971
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-126293
- **FILM NUMBER:** 221502738

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-2166

**MAIL ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

## Series and Classes Contracts Data

### Floating Rate Income Fund (Series ID: S000020234)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000056647 | Class A      | JFIAX           |
| C000056649 | Class C      | JFIGX           |
| C000056651 | Class I      | JFIIX           |
| C000106469 | Class R6     | JFIRX           |

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| | |
|:---|:---|
| ![](su6263img004.jpg) | **January 1, 2023**<br>|
| **Summary prospectus**<br>John Hancock Floating Rate Income Fund | **Summary prospectus**<br>John Hancock Floating Rate Income Fund |

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Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus and other information about the fund, including the Statement of Additional Information and most recent reports, online at www.jhinvestments.com/prospectuses. You can also get this information at no cost by calling 800-225-5291 (Class A and Class C) or 888-972-8696 (Class I and Class R Suite) or by sending an email request to info@jhinvestments.com. The fund's [prospectus and Statement of Additional Information](https://www.sec.gov/ix?doc=/Archives/edgar/data/1331971/000113322822007869/jhfii-html5668_485bpos.htm), both dated 1/1/23, as may be supplemented, and most recent [financial highlights](https://www.sec.gov/Archives/edgar/data/1331971/000168386322006850/f23399d1.htm) information included in the shareholder report, dated 8/31/22, are incorporated by reference into this summary prospectus.

**Tickers**

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A: JFIAX C: JFIGX I: JFIIX R6: JFIRX

**Investment objective**

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To seek a high level of current income.

**Fees and expenses**

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This table describes the fees and expenses you may pay if you buy, hold, and sell shares of the fund. **You may pay other fees, such as brokerage** **commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts on Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in the John Hancock family of funds. Intermediaries may have different policies and procedures regarding the availability of front-end sales charge waivers or contingent deferred sales charge (CDSC) waivers (See Appendix 1 - Intermediary sales charge waivers, which includes information about specific sales charge waivers applicable to the intermediaries identified therein). More information about these and other discounts is available from your financial professional and on pages 24 to 26 of the prospectus under "Sales charge reductions and waivers" or pages 161 to 166 of the fund's Statement of Additional Information under "Sales Charges on Class A and Class C Shares."

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| | | | | |
|:---|:---|:---|:---|:---|
| **Shareholder fees (%)** (fees paid directly from your investment) | **A** | **C** | **I** | **R6** |
| Maximum front-end sales charge (load) on purchases, as a % of purchase price | 2.50 |  |  |  |
| Maximum deferred sales charge (load) as a % of purchase or sale price, whichever is less | 0.50<br>(on certain purchases, including those of $250,000 or more) | 1.00 |  |  |
| Small account fee (for fund account balances under $1,000) ($) | 20 | 20 |  |  |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Annual fund operating expenses (%)** (expenses that you pay each year as a percentage of the value of your investment) | **A**<br>| **C**<br>| **I**<br>| **R6**<br>|
| Management fee | 0.66<br>| 0.66<br>| 0.66<br>| 0.66<br>|
| Distribution and service (Rule 12b-1) fees | 0.25<br>| 1.00<br>| 0.00<br>| 0.00<br>|
| Other expenses | 0.19<br>| 0.19<br>| 0.19<br>| 0.08<br>|
| Acquired fund fees and expenses<sup>1</sup> | 0.01<br>| 0.01<br>| 0.01<br>| 0.01<br>|
| **Total annual fund operating expenses<sup>2</sup>** | **1.11**<br>| **1.86**<br>| **0.86**<br>| **0.75**<br>|
| Contractual expense reimbursement<sup>3</sup> | –0.09<br>| –0.09<br>| –0.07<br>| –0.07<br>|
| **Total annual fund operating expenses after expense reimbursements** | **1.02**<br>| **1.77**<br>| **0.79**<br>| **0.68**<br>|

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| | |
|:---|:---|
| **1** | "Acquired fund fees and expenses" are based on indirect net expenses associated with the fund's investments in underlying investment companies. |

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| | |
|:---|:---|
| **2** | The "Total annual fund operating expenses" shown may not correlate to the fund's ratios of expenses to average daily net assets shown in the "Financial highlights" section of the fund's prospectus, which does not include "Acquired fund fees and expenses." |

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| | |
|:---|:---|
| **3** | The advisor contractually agrees to reduce its management fee or, if necessary, make payment to the fund in an amount equal to the amount by which expenses of the fund exceed 0.66% of average daily net assets of the fund and expenses of Class A, Class C, Class I and Class R6 shares, as applicable, exceed 1.00%, 1.75%, 0.77% and 0.66%, respectively, of average daily net assets attributable to the applicable class. For purposes of these agreements, "expenses of the fund" means all fund expenses, excluding (a) taxes, (b) brokerage commissions, (c) interest expense, (d) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, (e) class-specific expenses, (f) acquired fund fees and expenses paid indirectly, (g) borrowing costs, (h) prime |

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![](su6263img003.jpg)

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John Hancock Floating Rate Income Fund

brokerage fees, and (i) short dividend expense; and "expenses of Class A, Class C, Class I and Class R6 shares" means all expenses of the fund (as defined above) attributable to the applicable class plus class-specific expenses. These agreements expire on December 31, 2023, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time. The advisor also contractually agrees to waive a portion of its management fee and/or reimburse expenses for the fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on the aggregate net assets of all the funds participating in the waiver or reimbursement. This waiver is allocated proportionally among the participating funds. During its most recent fiscal year, the fund's reimbursement amounted to 0.01% of the fund's average daily net assets. This agreement expires on July 31, 2024, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.

**Expense example**

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This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. Please see below a hypothetical example showing the expenses of a $10,000 investment for the time periods indicated and then, except as shown below, assuming you sell all of your shares at the end of those periods. The example assumes a 5% average annual return and that fund expenses will not change over the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Expenses ($)** | **A** | **C** | **C** | **I** | **R6** |
|  |  | **Sold** | **Not** **Sold** |  |  |
| 1 year | 351 | 280 | 180 | 81 | 69 |
| 3 years | 585 | 576 | 576 | 267 | 233 |
| 5 years | 838 | 997 | 997 | 470 | 410 |
| 10 years | 1560 | 1976 | 1976 | 1054 | 924 |

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**Portfolio turnover**

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The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's performance. During its most recent fiscal year, the fund's portfolio turnover rate was 52% of the average value of its portfolio.

**Principal investment strategies**

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Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in floating-rate loans, which often include debt securities of domestic and foreign issuers that are rated below investment grade (rated below Baa by a nationally recognized statistical rating organization such as Moody's Investors Service, Inc. or BBB by S&P Global Ratings), at the time of purchase, or are of comparable quality, as determined by the manager, and other floating-rate securities. Bonds that are rated at or below BB by S&P Global Ratings or Ba by Moody's Investors Service, Inc. are considered junk bonds.

The fund may invest in domestic and foreign loans and loan participations that pay interest at rates that float or reset periodically at a margin above a generally recognized base lending rate such as the Prime Rate, the London InterBank Offered Rate (LIBOR), or another generally recognized base lending rate. Loans and debt instruments rated below investment grade are considered speculative. The fund may invest in loans of companies whose financial conditions are troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations, or financial restructurings. Some loans may be illiquid. The fund may also acquire and hold warrants and other equity interests. The fund may invest in loans, loan participations, and other securities of any maturity and duration. The fund may also invest in loans of any aggregate principal amount, which will vary from time to time.

For purposes of reducing risk and/or improving liquidity, the fund may invest in derivative instruments such as options (including options on securities indexes) and swaps (including credit default swaps).

The fund may invest in any number of issuers and may, at times, invest its assets in a small number of issuers. The fund may focus its investments in a particular sector or sectors of the economy. The fund's investment process may result in a higher-than-average portfolio turnover ratio.

**Principal risks**

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An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Many factors affect performance, and fund shares will fluctuate in price, meaning you could lose money. The fund's investment strategy may not produce the intended results.

During periods of heightened market volatility or reduced liquidity, governments, their agencies, or other regulatory bodies, both within the United States and abroad, may take steps to intervene. These actions, which could include legislative, regulatory, or economic initiatives, might have unforeseeable consequences and could adversely affect the fund's performance or otherwise constrain the fund's ability to achieve its investment objective.

The fund's main risks are listed below in alphabetical order, not in order of importance. *Before investing, be sure to read the additional descriptions of these risks beginning on page 6 of the prospectus.*

**2**

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John Hancock Floating Rate Income Fund

**Changing distribution levels risk.** The fund may cease or reduce the level of its distribution if income or dividends paid from its investments declines.

**Credit and counterparty risk.** The issuer or guarantor of a fixed-income security, the counterparty to an over-the-counter derivatives contract, or a borrower of fund securities may not make timely payments or otherwise honor its obligations. A downgrade or default affecting any of the fund's securities could affect the fund's performance.

**Distressed investments risk.** Distressed investments, including loans, mortgages, bonds, and notes, may not be publicly traded and may involve substantial risk. A fund may lose up to its entire investment.

**Economic and market events risk.** Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.

**Equity securities risk.** The price of equity securities may decline due to changes in a company's financial condition or overall market conditions.

**Fixed-income securities risk.** A rise in interest rates typically causes bond prices to fall. The longer the average maturity or duration of the bonds held by a fund, the more sensitive it will likely be to interest-rate fluctuations. An issuer may not make all interest payments or repay all or any of the principal borrowed. Changes in a security's credit quality may adversely affect fund performance.

**Floating rate loans risk.** Floating rate loans are generally rated below investment-grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt instruments.

**Foreign securities risk.** Less information may be publicly available regarding foreign issuers, including foreign government issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign securities. If applicable, depositary receipts are subject to most of the risks associated with investing in foreign securities directly because the value of a depositary receipt is dependent upon the market price of the underlying foreign equity security. Depositary receipts are also subject to liquidity risk.

**Hedging, derivatives, and other strategic transactions risk.** Hedging, derivatives, and other strategic transactions may increase a fund's volatility and could produce disproportionate losses, potentially more than the fund's principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become harder to value or sell and may become subject to liquidity risk (i.e., the inability to enter into closing transactions). Derivatives and other strategic transactions that the fund intends to utilize include: credit default swaps, options, and swaps. Options and swaps generally are subject to counterparty risk. In addition, swaps may be subject to interest-rate and settlement risk, and the risk of default of the underlying reference obligation.

**High portfolio turnover risk.** Trading securities actively and frequently can increase transaction costs (thus lowering performance) and taxable distributions.

**Illiquid and restricted securities risk.** Illiquid and restricted securities may be difficult to value and may involve greater risks than liquid securities. Illiquidity may have an adverse impact on a particular security's market price and the fund's ability to sell the security.

**Interest-rate risk.** Fixed-income securities are affected by changes in interest rates. When interest rates decline, the market value of fixed-income securities generally can be expected to rise. Conversely, when interest rates rise, the market value of fixed-income securities generally can be expected to decline. The longer the duration or maturity of a fixed-income security, the more susceptible it is to interest-rate risk.

**LIBOR discontinuation risk.** The publication of the London Interbank Offered Rate (LIBOR), which many debt securities, derivatives and other financial instruments have used or continue to use as the reference or benchmark rate for interest rate calculations, was discontinued for certain maturities as of December 31, 2021, and is expected to be discontinued on June 30, 2023 for the remaining maturities. The transition process away from LIBOR may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates, and the eventual use of an alternative reference rate may adversely affect the fund's performance. In addition, the usefulness of LIBOR may deteriorate in the period leading up to its discontinuation, which could adversely affect the liquidity or market value of securities that use LIBOR.

**Liquidity risk.** The extent (if at all) to which a security may be sold or a derivative position closed without negatively impacting its market value may be impaired by reduced market activity or participation, legal restrictions, or other economic and market impediments. Liquidity risk may be magnified in rising interest rate environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact the price or salability of such securities. Periods of heavy redemption could cause the fund to sell assets at a loss or depressed value, which could negatively affect performance. Redemption risk is heightened during periods of declining or illiquid markets.

**Loan participations risk.** Participations and assignments involve special types of risks, including credit risk, interest-rate risk, counterparty risk, liquidity risk, risks associated with extended settlement, and the risks of being a lender.

**3**

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John Hancock Floating Rate Income Fund

**Lower-rated and high-yield fixed-income securities risk.** Lower-rated and high-yield fixed-income securities (junk bonds) are subject to greater credit quality risk, risk of default, and price volatility than higher-rated fixed-income securities, may be considered speculative, and can be difficult to resell.

**Operational and cybersecurity risk.** Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information, or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting issuers of a fund's securities may negatively impact performance. Operational risk may arise from human error, error by third parties, communication errors, or technology failures, among other causes.

**Sector risk.** When a fund focuses its investments in certain sectors of the economy, its performance may be driven largely by sector performance and could fluctuate more widely than if the fund were invested more evenly across sectors.

**Small number of issuers risk.** Adverse events affecting a particular issuer or group of issuers may magnify losses for funds which may invest a large portion of assets in any one issuer or a small number of issuers.

**Warrants risk.** The prices of warrants may not precisely reflect the prices of their underlying securities. Warrant holders do not receive dividends or have voting or credit rights. A warrant ceases to have value if not exercised prior to its expiration date.

**Past performance**

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The following information illustrates the variability of the fund's returns and provides some indication of the risks of investing in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual returns compared with a broad-based market index. Past performance (before and after taxes) does not indicate future results. All figures assume dividend reinvestment. Performance information is updated daily, monthly, and quarterly and may be obtained at our website, jhinvestments.com, or by calling 800-225-5291 (Class A and Class C), Monday to Thursday, 8:00 A.M.—7:00 P.M., and Friday, 8:00 A.M.—6:00 P.M., Eastern time, or 888-972-8696 (Class I and Class R6) between 8:30 A.M. and 5:00 P.M., Eastern time, on most business days.

**A note on performance**<br>Prior to August 30, 2018, the fund was managed by a different subadvisor and thus, the performance presented prior to August 30, 2018 should not be attributed to the current subadvisor, BCSF Advisors, LP (Bain Capital Credit). The fund's performance shown below might have differed materially had Bain Capital Credit managed the fund prior to August 30, 2018.

Please note that after-tax returns (shown for Class A shares only) reflect the highest individual federal marginal income-tax rate in effect as of the date provided and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are not relevant to shares held in an IRA, 401(k), or other tax-advantaged investment plan. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 3.00% to 2.50%, effective February 3, 2014. After-tax returns for other share classes would vary.

**Calendar year total returns (%)—Class A** (sales charges are not reflected in the bar chart and returns would have been lower if they were)

![](su6263img001.jpg)

**Year-to-date total return.** The fund's total return for the nine months ended September 30, 2022, was –5.77%.<br>**Best quarter:** 2020, Q2, 9.85%<br>**Worst quarter:** 2020, Q1, –13.74%

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| | | | |
|:---|:---|:---|:---|
| **Average annual total returns (%)—as of 12/31/21** | **1 year**<br>| **5 year**<br>| **10 year**<br>|
| **Class A** (before tax) | 2.07<br>| 2.98<br>| 3.40<br>|
| &nbsp;&nbsp;&nbsp; after tax on distributions | 0.63<br>| 1.17<br>| 1.47<br>|
| &nbsp;&nbsp;&nbsp; after tax on distributions, with sale | 1.22<br>| 1.47<br>| 1.74<br>|
| **Class C** | 2.91<br>| 2.71<br>| 2.91<br>|
| **Class I** | 4.82<br>| 3.72<br>| 3.95<br>|
| **Class R6** | 5.06<br>| 3.85<br>| 4.05<br>|
| Morningstar LSTA US Leveraged Loan Index (reflects no deduction for fees, expenses, or taxes) | 5.20<br>| 4.27<br>| 4.69<br>|

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**4**

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John Hancock Floating Rate Income Fund

**Investment management**

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**Investment advisor** John Hancock Investment Management LLC<br>**Subadvisor** BCSF Advisors, LP (Bain Capital Credit)

**Portfolio management**

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The following individuals are jointly and primarily responsible for the day-to-day management of the fund's portfolio.

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| | | |
|:---|:---|:---|
| **Andrew Carlino**<br>*Managing Director and Portfolio Manager*<br>Managed the fund since 2018 | **Kim Harris**<br>*Managing Director and Portfolio Manager*<br>Managed the fund since 2018 | **Nate Whittier**<br>*Director and Portfolio Manager*<br>Managed the fund since 2019 |

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**Purchase and sale of fund shares**

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The minimum initial investment requirement for Class A and Class C shares is $1,000 ($250 for group investments), except that there is no minimum for certain group retirement plans, certain fee-based or wrap accounts, or certain other eligible investment product platforms. The minimum initial investment requirement for Class I shares is $250,000, except that the fund may waive the minimum for any category of investors at the fund's sole discretion. The minimum initial investment requirement for Class R6 shares is $1 million, except that there is no minimum for: qualified and nonqualified plan investors; certain eligible qualifying investment product platforms; Trustees, employees of the advisor or its affiliates, employees of the subadvisor, members of the fund's portfolio management team and the spouses and children (under age 21) of the aforementioned. There are no subsequent minimum investment requirements.

Class A, Class C, Class I and Class R6 shares may be redeemed on any business day by mail: John Hancock Signature Services, Inc., P.O. Box 219909, Kansas City, MO 64121-9909; or for most account types through our website: jhinvestments.com; or by telephone: 800-225-5291 (Class A and Class C); 888-972-8696 (Class I and Class R6).

**Taxes**

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The fund's distributions are taxable, and will be taxed as ordinary income and/or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account. Withdrawals from such tax-deferred arrangements may be subject to tax at a later date.

**Payments to broker-dealers and other financial intermediaries**

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If you purchase the fund through a broker-dealer or other financial intermediary (such as a bank, registered investment advisor, financial planner, or retirement plan administrator), the fund and its related companies may pay the broker-dealer or other intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. These payments are not applicable to Class R6 shares. Ask your salesperson or visit your financial intermediary's website for more information.

**5**

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**6**

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**7**

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![](su6263img002.jpg)<br>© 2023 John Hancock Investment Management Distributors LLC, Member FINRA, SIPC<br>200 Berkeley Street Boston, MA 02116<br>800-225-5291, jhinvestments.com<br>Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.<br> ![](su6263img003.jpg)<br>

SEC file number: 811-21779<br>3280SP 1/1/23