Company: PTY
Filing Date: 2025-06-06
Form Type: 424B5
Source: 0001193125-25-137029
Chunk: 237

Company: PIMCO CORPORATE & INCOME OPPORTUNITY FUND
Filing Date: 2025-06-06
Form: 424B5
Chunk 237
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 from 150% to 200%, thereby increasing the dividend rate payable to ARPS holders and increasing the costs to Common Shareholders associated with the Fund’s leverage. In July 2012, Moody’s downgraded its rating of the ARPS from “A2” to “A3” pursuant to a revised ratings methodology adopted by Moody’s. Also, in May 2014, Moody’s upgraded its rating of the Fund’s ARPS from A3 to A2, citing changes in the Fund’s asset coverage ratio and economic leverage. The Fund expects that the ARPS will continue to pay dividends at the maximum applicable rate for the foreseeable future and cannot predict whether or when the auction markets for the ARPS may resume normal functioning. As noted, the “maximum applicable rate” for each series of ARPS depends on the credit ratings assigned to such shares (currently by Moody’s) and on the duration of the rate period. The maximum applicable rate for any regular rate period (i.e., any rate period other than a non-payment period) will be the applicable percentage of the reference rate. The reference rate is the applicable “AA” Financial Composite Commercial Paper Rate (for a Dividend Period of fewer than 184 days) or the applicable Treasury Index Rate (for a Dividend Period of 184 days or more). The applicable percentage for any Dividend Period is generally determined based on the credit rating assigned to the ARPS by Moody’s on the auction date for such period (as set forth in the table below).

| Moody’s Credit Rating | ApplicablePercentage |
| Aa3 or above          | 150%                 |
| A3 to A1              | 200%                 |
| Baa3 to Baa1          | 225%                 |
| Below Baa3            | 275%                 |

Rating agency guidelines and asset coverage The Fund is required to satisfy various asset maintenance requirements with respect to its ARPS under the terms of the Bylaws, which are summarized below. 1940 Act preferred shares asset coverage The Fund is required under the Bylaws to maintain, with respect to the ARPS, as of the last business day of each month in which any Preferred Shares are outstanding, 1940 Act Preferred Shares Asset Coverage (as defined below) of at least 200% with respect to senior securities that are equity securities, including the Preferred Shares. If the Fund fails to maintain 1940 Act Preferred Shares Asset Coverage and such failure is not cured as of the last business day of the following month,