JPMorgan Redeems PCQ Preferred Shares for Over $79 Million

JPMorgan Chase Bank, N.A., one of PIMCO California Municipal Income Fund's (PCQ) largest shareholders, recently redeemed 790 Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2054-A.

The shares were held indirectly by trust and were redeemed at a price of $100,211.23287 per share, which included a liquidation preference of $100,000.00 and accrued dividends of $211.23287.

The redemption was not part of a Rule 10b5-1 trading plan, according to the Form 4 filing.