The Board of Trustees of each of the following funds has approved the following proposals to reorganize the PIMCO closed-end municipal funds (each, a “Merger” and collectively, the “Mergers”), subject to the various shareholder approvals and other contingencies described below: National Mergers: PIMCO Municipal Income Fund (NYSE: PMF) and PIMCO Municipal Income Fund III (NYSE: PMX) with and into PIMCO Municipal Income Fund II (NYSE: PML); New York Mergers: PIMCO New York Municipal Income Fund (NYSE: PNF) and PIMCO New York Municipal Income Fund III (NYSE: PYN) with and into PIMCO New York Municipal Income Fund II (NYSE: PNI); and California Mergers: PIMCO California Municipal Income Fund II (NYSE: PCK) and PIMCO California Municipal Income Fund III (NYSE: PZC) with and into PIMCO California Municipal Income Fund (NYSE: PCQ). It is currently expected that the Mergers will be completed on or about August 1, 2025, subject to PIMCO’s market outlook and operational considerations, the shareholder approvals described above and the satisfaction of applicable regulatory requirements and customary closing conditions.
PIMCO Muni Incm Fd III
Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).
