Form 4: Bank of America Reports PIMCO Fund Share Exchange

Bank of America and its subsidiary reported an exchange of 670 preferred shares in PIMCO New York Municipal Income Fund II as part of a fund reorganization.

Summary

• Bank of America Corporation and its wholly-owned subsidiary, Banc of America Preferred Funding Corporation, reported changes in their beneficial ownership of PIMCO New York Municipal Income Fund II (PNI).
• On August 1, 2025, 670 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) of PNI were acquired.
• This acquisition was a cashless exchange, where RVMTP Shares from PIMCO New York Municipal Income Fund and PIMCO New York Municipal Income Fund III (the "Target Funds") were exchanged for an equal number of PNI shares due to a fund reorganization.
• Following this transaction, the reporting persons beneficially own a total of 1,170 RVMTP Shares of PNI indirectly through Banc of America Preferred Funding Corporation.

Sentiment

Score: 5

Explanation: The filing is a routine report of a change in beneficial ownership due to a fund reorganization, which is a neutral event reflecting a structural adjustment rather than operational performance or strategic shift.

Positives

• Clarifies the ownership structure of preferred shares following a fund reorganization.
• Indicates continued beneficial ownership by Bank of America through its subsidiary in the reorganized fund.

Risks

• The reporting persons explicitly state that the filing should not be construed as an admission of acting as a partnership, syndicate, or group for the purpose of acquiring, holding, or disposing of securities of the Issuer under Section 13(d) of the US Securities Exchange Act of 1934.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

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

This filing reflects a routine change in beneficial ownership stemming from the reorganization of PIMCO municipal income funds, a common occurrence in the investment fund industry to optimize fund structures or consolidate assets.

Related Party Transactions

• Banc of America Preferred Funding Corporation, a wholly-owned subsidiary of Bank of America Corporation, holds the direct beneficial ownership of the shares, making Bank of America Corporation's interest indirect.

Stakeholder Impact

• Shareholders: Clarifies the beneficial ownership structure of preferred shares in PIMCO New York Municipal Income Fund II following a fund reorganization.

Key Dates

Keywords

PIMCO, Bank of America, SEC Form 4, Beneficial Ownership, Preferred Shares, Fund Reorganization, Municipal Income Fund