SEC Form 4 · accession 0000899243-18-024967
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III · PZC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Sep 18, 2018
Accepted (ET)
Sep 20, 2018 · 7:56 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001181504
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Auction-Rate Preferred SharesF1,F4,F5 | Sep 18, 2018 | J | 501 | — | D | 0 | I | By Subsidiary |
| Auction-Rate Preferred SharesF2,F4,F5 | Sep 18, 2018 | J | 469 | — | D | 0 | I | By Subsidiary |
| Variable Rate MuniFund Term Preferred SharesF3,F4,F5 | Sep 18, 2018 | J | 271 | — | A | 271 | I | By Subsidiary |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The 501 auction-rate preferred shares reported as disposed of in Table I (the "ARP Shares") represent ARP Shares that were beneficially owned by WFC Holdings, LLC ("WFC Holdings") and EVEREN Capital Corporation ("EVEREN"). The ARP Shares were sold to the Issuer as a result of a tender offer made by the Issuer for a tender price of $21,250.00 per share (which included a payment equal to $21,250 per share (representing 85% percent of the $25,000 liquidation preference per share) and accrued dividends of $0.00 per share).
- F2The 469 ARP Shares reported as disposed of in Table I represent ARP Shares that were beneficially owned by WFC Holdings and EVEREN. The ARP Shares were sold to the Issuer as a result of a tender offer made by the Issuer for a tender price of $21,255.08 per share (which included a payment equal to $21,250 per share (representing 85% percent of the $25,000 liquidation preference per share) and accrued dividends of $5.08 per share).
- F3The 271 variable rate munifund term preferred shares reported as acquired in Table I (the "VMTP Shares") represent VMTP Shares of which 28 VMTP Shares are beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"), 241 VMTP Shares are beneficially owned by WFC Holdings, and 2 VMTP Shares are beneficially owned by EVEREN. The VMTP Shares were acquired from the Issuer at a price of $100,000 per share. Following the tender of ARP Shares and the acquisition of the VMTP Shares, none of the reporting persons hold 10% or more of the preferred shares of the Issuer. Capital Strategies, WFC Holdings, and EVEREN are each a wholly owned subsidiary of Wells Fargo & Company ("Wells Fargo").
- F4This statement is jointly filed by Wells Fargo and WFC Holdings. Wells Fargo holds an indirect interest in the securities listed in Table I (the "Securities") by virtue of its indirect ownership of its subsidiaries Capital Strategies and EVEREN, and its direct ownership of its subsidiary WFC Holdings.
- F5Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
Remarks
Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information