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The later is only available for Key and Summary fields. You want see a major difference when you generate notes, but when uploading to Confluence we will render it as Confluence standard issues status macross representing key, summary and up-to-date status.
As a side effect of this render type you will get a mention in your Jira issue about release notes generated in Confluence.
Calculated fields
We also provide a couple of additional "CALCULATED" fields to outline
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