Not sure, but I doubt it. I tried a 5/16 wall well pipe with my 257AI. 120gr Nosler solid bases, leaving the muzzle at about 2750-fps, punched right on through at 300-yds.
Your taking about a bullet weighing twice as much, with the same muzzle velocity, and as good or better ballistic coefficient. I'd expect it to punch through 1/2-inch plate.