SCHEDULE: BAC Exits PIMCO NY Municipal Fund Ownership

Bank of America Corporation and Banc of America Preferred Funding Corporation have ceased beneficial ownership in PIMCO New York Municipal Income Fund following a reorganization.

Summary

• Bank of America Corporation (BAC) and Banc of America Preferred Funding Corporation (BAPFC), collectively the Reporting Persons, filed an Amendment No. 2 to their Schedule 13D.
• This amendment reports that the Reporting Persons no longer own any Remarketable Variable Rate Munifund Term Preferred (RVMTP) Shares of PIMCO New York Municipal Income Fund (the Issuer).
• The change in ownership resulted from a reorganization on August 1, 2025, where the Issuer and PIMCO New York Municipal Income Fund III were reorganized into PIMCO NEW YORK MUNICIPAL INCOME FUND II (PNI).
• As part of this reorganization, BAPFC exchanged 410 RVMTP Shares of the Issuer (CUSIP No. 72200T509) for an equal number of RVMTP Shares of PNI (CUSIP No. 72200Y508).
• Consequently, as of August 1, 2025, the Reporting Persons ceased to be beneficial owners of more than five percent of the class of securities of the original Issuer.
• Their aggregate beneficial ownership of the Issuer's RVMTP Shares is now 0.00, representing 0% of the class.

Sentiment

Score: 5

Explanation: The filing is a neutral, procedural update regarding a change in beneficial ownership due to a corporate reorganization, with no direct positive or negative financial implications for the reporting entities disclosed.

Risks

• 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.
• Some of these proceedings have resulted in findings of violations of federal or state securities laws, as reported and summarized in BofA Securities Form BD.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding the future performance or strategy of the Reporting Persons or the PIMCO funds beyond the completed reorganization.

Industry Context

This filing reflects a specific corporate action related to a closed-end municipal bond fund's reorganization, which is a common event in the fund industry to optimize fund structures or achieve economies of scale. It does not indicate broader industry trends or competitive shifts.

Legal Proceedings

• Bank of America Corporation and certain affiliates have been involved in civil proceedings and regulatory actions, some of which resulted in findings of violations of federal or state securities laws. These are summarized in BofA Securities Form BD.

Stakeholder Impact

• Shareholders of PIMCO New York Municipal Income Fund: Their shares were exchanged for PIMCO New York Municipal Income Fund II shares as part of the reorganization.

Key Dates

Keywords

PIMCO, Bank of America, BAC, BAPFC, Schedule 13D, Municipal Income Fund, Reorganization, RVMTP Shares, Beneficial Ownership, Closed-End Fund