SCHEDULE: Bank of America Exits PIMCO NY Muni Fund III Shares

Bank of America entities no longer hold shares in PIMCO New York Municipal Income Fund III following a fund reorganization.

Summary

• Bank of America Corporation (BAC) and Banc of America Preferred Funding Corporation (BAPFC), the Reporting Persons, have amended their Schedule 13D filing.
• The amendment is a result of the reorganization of PIMCO New York Municipal Income Fund III (the Issuer) and PIMCO New York Municipal Income Fund (PNF) into PIMCO New York Municipal Income Fund II (PNI).
• On August 1, 2025, BAPFC exchanged 260 Remarketable Variable Rate Munifund Term Preferred (RVMTP) Shares of the Issuer (CUSIP No. 72201E402) for an equal number of RVMTP Shares of PNI (CUSIP No. 72200Y508).
• As a direct consequence of this reorganization, the Reporting Persons no longer beneficially own any RVMTP Shares of PIMCO New York Municipal Income Fund III.
• The Reporting Persons ceased to be beneficial owners of more than five percent of the class of securities of the Issuer on August 1, 2025.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual report of a change in beneficial ownership due to a corporate reorganization, with no explicit positive or negative implications stated for the reporting persons or the issuer within the document itself.

Risks

• Bank of America Corporation and certain affiliates have been involved in civil proceedings and regulatory actions concerning their business conduct, with some resulting in findings of violations of federal or state securities laws, as reported in BofA Securities Form BD.

Future Outlook

The filing indicates that as a result of the reorganization, the Reporting Persons no longer own any RVMTP Shares of the Issuer, concluding their beneficial ownership in this specific fund.

Industry Context

This filing reflects a specific corporate action within the closed-end fund sector, where fund reorganizations or mergers can lead to changes in investor holdings. Such reorganizations are common strategies to optimize fund structures or consolidate assets.

Legal Proceedings

• Bank of America Corporation and certain affiliates, including BofA Securities, Inc. and Bank of America, N.A., have been involved in civil proceedings and regulatory actions concerning their business conduct, with some resulting in findings of violations of federal or state securities laws, as reported in BofA Securities Form BD.

Stakeholder Impact

• Shareholders of PIMCO New York Municipal Income Fund III are impacted by the fund's reorganization into PIMCO New York Municipal Income Fund II, which led to the exchange of shares for those of the new fund.
• The Reporting Persons (Bank of America Corporation and Banc of America Preferred Funding Corporation) have altered their investment portfolio by exchanging their holdings in the Issuer for shares in the successor fund.

Key Dates

Keywords

PIMCO, Bank of America, Municipal Bonds, Closed-End Fund, SEC Filing, Schedule 13D, Fund Reorganization, Beneficial Ownership, RVMTP Shares