Bank of America Reports 200 PNI Preferred Shares Redeemed
Bank of America Corporation reported that 200 preferred shares of PIMCO New York Municipal Income Fund II (NYSE: PNI) were redeemed on October 30, 2026, leaving 560 shares beneficially owned.S. Securities and Exchange Commission (SEC)(https://www.sec.gov/Archives/edgar/data/1170311/000007085826000556/xslF345X06/primary_doc.xml).
The filing identifies Bank of America Corporation, incorporated in Delaware, and its wholly owned subsidiary, Banc of America Preferred Funding Corporation (BAPFC), as joint reporting persons. Both are classified as 10% owners of the issuer.
The transaction involved Series 2054 Remarketable Variable Rate MuniFund Term Preferred Shares. The issuer redeemed the securities at their liquidation preference plus accumulated but unpaid dividends, following a redemption notice filed with the SEC on September 15, 2026.
Details of the Preferred Share Redemption
The Form 4 records the October 30 transaction under code J, with disposition classification D, indicating that 200 securities were disposed of. The ownership classification is I, identifying the remaining beneficial interest as indirect.
The transaction appears in Table I, covering non-derivative securities acquired, disposed of or beneficially owned. The filing identifies BAPFC as the subsidiary that held the redeemed shares, while Bank of America’s interest arose through its ownership of that subsidiary.
The securities carry CUSIP 72200Y508, identifying the preferred-share class involved in the redemption. The Form 4 provides the redemption-pricing basis in its explanatory footnotes rather than a separate numerical transaction price.
Updated Ownership Under Schedule 13D
A corresponding Schedule 13D, Amendment No. 5, confirms the ownership change and identifies the transaction as the reason for amending the reporting persons’ earlier ownership disclosure.
The amendment updates an original Schedule 13D dated April 17, 2024, and filed April 24, 2024. Its ownership disclosures show 560 shares subject to shared voting and dispositive power, with zero shares under sole voting or dispositive power.
Both reporting persons disclose 100.0% of the remaining class as beneficially owned. That percentage refers to the preferred securities identified in the filing, not the fund’s publicly traded common shares.
The amendment also updates the reporting persons’ identity and background schedules, ownership disclosures and exhibits, including the joint filing agreement and power of attorney.
Filing Signatures and Reporting Dates
The Form 4 and Schedule 13D amendment were signed on November 3, 2026, by Andres Ortiz, acting as authorized signatory for both Bank of America Corporation and Banc of America Preferred Funding Corporation.
The disclosures distinguish the redemption date from the subsequent filing signatures and establish the remaining preferred-share position after the issuer’s redemption.
The transaction represents a reduction in the number of preferred securities held through Bank of America’s subsidiary. The accompanying ownership amendment documents the resulting position in the specific preferred-share class without indicating a disposal of PNI common shares.
