PIMCO Fund Confirms Partial Redemption of Preferred Shares

summarizeSummary

Bank of America Corporation updated its Schedule 13D to report the partial redemption of 810 Remarketable Variable Rate Munifund Term Preferred Shares by PIMCO California Municipal Income Fund, an action previously announced by the fund.

check_boxKey Events

• Partial Preferred Share Redemption

  PIMCO California Municipal Income Fund redeemed 810 Remarketable Variable Rate Munifund Term Preferred Shares (Series 2054) from Banc of America Preferred Funding Corp on February 23, 2026.

• Ownership Percentage Update

  Following the redemption, Bank of America Corporation and its affiliate now collectively own 1,920 RVMTP Shares, representing 59.8% of the class.

• Follows Prior Announcement

  This redemption follows the fund's N-23C-2 filing on January 23, 2026, which indicated an intent to redeem up to $81 million of these preferred shares.

auto_awesomeAnalysis

This Schedule 13D/A confirms the execution of a partial redemption of preferred shares by PIMCO California Municipal Income Fund, following the fund's N-23C-2 filing on January 23, 2026, which announced the intent to redeem up to $81 million of these shares. The redemption of 810 Remarketable Variable Rate Munifund Term Preferred Shares reduces the fund's outstanding preferred stock, which can improve its capital structure and reduce dividend obligations. This is a positive development for the fund's financial health.