SEC Form 4 · accession 0001209191-15-046978

DWS STRATEGIC MUNICIPAL INCOME TRUST · KSM

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owners

PARTNERRE LTD

10% Owner

PartnerRe Principal Finance Inc.

10% Owner

Partner Reinsurance Co Ltd.

10% Owner

Period of report

Mar 3, 2015

Accepted (ET)

May 27, 2015 · 10:06 am EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000846596

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Floating Rate Municipal Term Preferred Shares, Series 2015^F1	Mar 3, 2015	X	2,419	$25,007.67	A	2,419	I	By Subsidiary

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Put Option (obligation to buy)^F2,F3,F1	$25,007.67	Mar 3, 2015	X	2,419	D	Jan 21, 2015	Mar 31, 2015	Floating Rate Municipal Term Preferred Shares, Series 2015	2,419	0	I

Explanation of responses

F1Partner Reinsurance Company of the U.S. ("PRC-US"), a wholly owned subsidiary of PartnerRe Ltd., is a direct beneficial owner of the reported securities. PartnerRe Ltd. Is an indirect beneficial owner of the reported securities.. PartnerRe Principal Finance Inc., a wholly owned indirect subsidiary of PartnerRe Ltd., acts as investment adviser for PRC-US and Partner Reinsurance Company Ltd. ("PRC"), a wholly owned direct subsidiary of PartnerRe Ltd. PartnerRe Principal Finance Inc. and PRC do not beneficially own any of the reported securities within the meaning of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934 (the "Exchange Act").
F2On January 16, 2015, PRC and Citibank N.A. ("Citibank") entered into a Put/Call Agreement (the "Put/Call Agreement"), by which, among other things, (i) PRC granted Citibank an option (exercisable between January 21, 2015 and March 31, 2015) (the "Put Option") to cause PRC to purchase the Floating Rate Municipal Term Preferred Shares, Series 2015 (the "MTPS Shares") from Citibank at the option price of $25,000 per share plus accumulated but unpaid dividends (the "Option Price"); and (ii) Citibank granted PRC an option (exercisable on April 1, 2015) (the "Call Option") to cause Citibank to sell the MTPS Shares to PRC at the Option Price. On March 3, 2015, Citibank notified PRC that it was exercising the Put Option.
F3PRC designated its affiliate, PRC-US, to perform its obligations under the Put/Call Agreement, and accordingly PRC-US purchased the MTPS Shares from Citibank on March 10, 2015 for the Option Price. The Call Option expired immediately following the exercise of the Put Option, whereupon PRC ceased to be subject to Section 16 of the Exchange Act.