Form 4: Wells Fargo Disposes of Remarketable Variable Rate MuniFund Term Preferred Shares in PIMCO Municipal Income Fund II

Wells Fargo & Company, through its subsidiary Wells Fargo Municipal Capital Strategies, LLC, disposed of 687 Remarketable Variable Rate MuniFund Term Preferred Shares of PIMCO Municipal Income Fund II due to a redemption by the issuer.

Summary

• Wells Fargo & Company, along with its subsidiary Wells Fargo Municipal Capital Strategies, LLC, filed a Form 4 regarding changes in beneficial ownership of PIMCO Municipal Income Fund II shares.
• On June 12, 2024, Wells Fargo Municipal Capital Strategies, LLC disposed of 687 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) of Series 2051.
• The disposal was a result of a redemption by PIMCO Municipal Income Fund II at a price of $100,120.9290 per share, which includes a liquidation preference of $100,000.00 per share and accrued dividends of $120.9290 per share.
• Following the transaction, Wells Fargo still holds an indirect interest in the securities through its subsidiary.
• Both Wells Fargo & Company and Wells Fargo Municipal Capital Strategies, LLC have signed a joint filing agreement.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a routine transaction (redemption of shares). It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing reflects routine transactions related to beneficial ownership and is specific to Wells Fargo's holdings in PIMCO Municipal Income Fund II. It doesn't necessarily indicate broader trends in the municipal bond market or the closed-end fund industry.

Stakeholder Impact

• The redemption may have a minor impact on the fund's asset base, but is unlikely to significantly affect shareholders.

Key Dates