SCHEDULE: BofA Unit Reduces PIMCO Muni Fund Holdings

Bank of America entities have reduced their beneficial ownership of PIMCO New York Municipal Income Fund II's remarketable variable rate preferred shares following a redemption event.

Summary

• This filing is an amendment to a previous Schedule 13D, reporting a change in beneficial ownership for Bank of America Corporation (BAC) and Banc of America Preferred Funding Corporation (BAPFC).
• The change is due to the redemption of 200 remarketable variable rate munifund term preferred shares (RVMTP Shares) held by BAPFC.
• The redemption occurred on October 30, 2026, with the shares redeemed at their liquidation preference plus any accumulated unpaid dividends.
• As a result of this redemption, the Reporting Persons now collectively own 560 RVMTP Shares, representing 100.0% of the class.
• This amendment updates the ownership percentage and incorporates revised schedules regarding the reporting persons' background.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing, primarily due to a reduction in holdings rather than a strategic shift or positive development.

Positives

• The redemption was executed at the liquidation preference plus accumulated dividends, suggesting a fair value realization for the redeemed shares.

Negatives

• There has been a reduction in the total number of RVMTP Shares held by the reporting persons, from 760 to 560 shares.

Risks

• The filing does not explicitly mention any new risks, but the reduction in holdings could imply a decreased strategic interest or a reallocation of capital by Bank of America entities.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future holdings or strategy beyond the reported redemption.

Management Comments

• The 200 RVMTP shares held by BAPFC were redeemed by the Issuer on October 30, 2026, for a redemption price of the liquidation preference and accumulated but unpaid dividends and as result of the redemption, the Reporting Persons now own 560 RVMTP Shares.

Industry Context

StockSavvy.ai notes that redemptions of preferred shares in municipal income funds can occur due to various factors, including portfolio management decisions, changes in interest rate environments, or the fund's own redemption policies. This specific redemption by Bank of America entities reduces their exposure to this particular PIMCO fund.

Stakeholder Impact

• Shareholders of PIMCO New York Municipal Income Fund II: The redemption of a significant block of preferred shares by a major holder could potentially impact the fund's capital structure and future dividend policies, though the filing indicates the redemption was at liquidation preference.

Next Steps

• The filing does not explicitly outline next steps for the reporting persons beyond the completion of the redemption and the filing of this amendment.

Key Dates

Keywords

Municipal Income Fund, Preferred Shares, Beneficial Ownership, Redemption, Schedule 13D, Bank of America, PIMCO