Form 4: Bank of America Subsidiary Redeems Nuveen MuniFund Shares

Banc of America Preferred Funding Corp, a Bank of America subsidiary, disposed of 170 MuniFund Term Preferred Shares, Series A, from Nuveen Missouri Quality Municipal Income Fund through a redemption.

Summary

• Bank of America Corporation, through its wholly-owned subsidiary Banc of America Preferred Funding Corporation (BAPFC), reported the disposition of 170 MuniFund Term Preferred Shares, Series A (MFP Shares).
• The shares were held in Nuveen Missouri Quality Municipal Income Fund (NOM).
• The disposition occurred on March 25, 2026, due to a redemption by the Issuer.
• The redemption price was the liquidation preference plus accumulated but unpaid dividends.
• This transaction was reported on a Form 4, indicating a change in beneficial ownership for a 10% owner.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine capital management transaction for both the issuer and the reporting entity's subsidiary.

Positives

• Banc of America Preferred Funding Corporation received the liquidation preference and accumulated dividends for its preferred shares, indicating a return of capital.
• Nuveen Missouri Quality Municipal Income Fund reduced its outstanding preferred shares, potentially simplifying its capital structure.

Negatives

• No apparent negatives for either party from this routine redemption.

Risks

• No specific risks are mentioned in this Form 4 filing, which primarily reports a transaction.

Future Outlook

This filing does not contain any forward-looking statements or guidance, as it reports a past transaction.

Management Comments

• Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Industry Context

StockSavvy.ai notes that the redemption of preferred shares is a common capital management activity for investment funds like Nuveen Missouri Quality Municipal Income Fund. For Bank of America, this represents a routine divestment of a non-core investment held by a subsidiary, consistent with managing its investment portfolio.

Comparison to Industry Standards

• This transaction is a standard redemption of preferred shares, a common practice in the fixed-income and municipal bond fund industry. There are no specific comparable companies or projects mentioned in the filing to assess against global benchmarks, as it details a specific, routine capital event.

Related Party Transactions

• Banc of America Preferred Funding Corporation (BAPFC) is a wholly-owned subsidiary of Bank of America Corporation, making their joint filing and indirect ownership a related party structure. The transaction itself is with Nuveen, not directly between the related parties.

Stakeholder Impact

• Shareholders (Bank of America): Minimal impact, as it's a routine divestment of a small portion of a subsidiary's investment portfolio.
• Shareholders (Nuveen Missouri Quality Municipal Income Fund): The redemption of preferred shares could slightly alter the fund's capital structure, potentially impacting common shareholders by reducing preferred dividend obligations.
• Creditors: No direct impact mentioned.

Next Steps

• No specific future actions or milestones are mentioned in this transaction report.

Key Dates

Keywords

Bank of America, Nuveen Missouri Quality Municipal Income Fund, NOM, MuniFund Preferred Shares, Preferred Stock, Redemption, Form 4, Beneficial Ownership, Capital Management