Company: OIA
Filing Date: 2025-03-13
Form Type: 424B5
Source: 0001104659-25-023508
Chunk: 56

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-03-13
Form: 424B5
Chunk 56
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 Commercial Paper (Municipal Paper) is similar to taxable commercial paper, except that tax-exempt 
 commercial paper is issued by states, municipalities and their agencies.                          |

| ● | Tax-Exempt                                                                                     
 Mandatory Paydown Securities (TEMPS) are fixed rate term bonds carrying a short-term maturity, 
 usually three to four years beyond the expected redemption. TEMPS are structured as bullet     
 repayments, with required optional redemptions as entrance fees are collected.                 |

| ● | Zero                                                                                                 
 Coupon and Pay-in-Kind Securities do not immediately produce cash income. These securities           
 are issued at an original issue discount, with the full value, including accrued interest,           
 paid at maturity. Interest income may be reportable annually, even though no annual payments         
 are made. Market prices of zero coupon bonds tend to be more volatile than bonds that pay            
 interest regularly. Pay-in-kind securities are securities that have interest payable by delivery     
 of additional securities. Upon maturity, the holder is entitled to receive the aggregate             
 par value of the securities. Zero coupon and pay-in-kind securities may be subject to greater        
 fluctuation in value and less liquidity in the event of adverse market conditions than comparably    
 rated securities paying cash interest at regular interest payment periods. Prices on non-cash-paying 
 instruments may be more sensitive to changes in the issuer’s financial condition, fluctuation        
 in interest rates and market demand/supply imbalances than cash-paying securities with similar       
 credit ratings, and thus may be more speculative. Special tax considerations are associated          
 with investing in certain lower-grade securities, such as zero coupon or pay-in-kind securities.     
 Pay-in-kind securities are subject to additional risks including that the interest payments          
 deferred on pay-in-kind loans are subject to the risk that the borrower may default when             
 the deferred payments are due in cash at the maturity of the loan.                                   |

| ● | Capital                                                                                        
 Appreciation Bonds are municipal securities in which the investment return on the initial      
 principal payment is reinvested at a compounded rate until the bond matures. The principal     
 and interest are due on maturity. Thus, like zero coupon securities, investors must wait       
 until maturity to receive interest and principal, which increases the interest rate and credit 
 risks.                                                                                         |

| ● | Payments                                                                                     
 in lieu of taxes (also known as PILOTs) are voluntary payments by, for instance the U.S.     
 government or nonprofits, to local governments that help offset losses in or otherwise serve 
 as a substitute for property taxes