Company: IQI
Filing Date: 2025-05-02
Form Type: N-CSR
Source: 0001193125-25-111545
Chunk: 23

Company: Invesco Quality Municipal Income Trust
Filing Date: 2025-05-02
Form: N-CSR
Chunk 23
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52,883,797 |

The Trust may, when appropriate, purchase shares in the open market or in privately negotiated transactions at a price not above market value or net asset value, whichever is lower at the time of purchase. NOTE 11–Variable Rate Muni Term Preferred Shares The Trust issued Series 2020/2023-IQIVMTP Shares, with a liquidation preference of $100,000 per share, pursuant to an offering exempt from registration under the 1933 Act. As of February 28, 2025, the VMTP Shares outstanding were as follows:

| Issue Date |     | Shares Issued |     | Term Redemption Date |     | Extension Date |            |
| 10/08/2020 |     |         1,789 |     | 12/01/2025           |     |                | 11/21/2022 |

VMTP Shares are a variable-rate form of preferred shares with a mandatory redemption date and are considered debt for financial reporting purposes. On May 31, 2024, the Trust redeemed 316 Series 2020/2023-IQIVMTP Shares, with a liquidation preference of $100,000 per share to pay holders of record as of May 1, 2024, the redemption price, including accumulated but unpaid dividends, to holders of VMTP Shares called for redemption on such date, in connection with the partial redemption. VMTP Shares are subject to optional and mandatory redemption in certain circumstances. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends and a redemption premium, if any. Starting six months prior to the term redemption date, the Trust will be required to earmark assets having a value equal to 110% of the redemption amount. The Trust incurs costs in connection with the issuance and/or the extension of the VMTP Shares. These costs are recorded as a deferred charge and are amortized over the term life of the VMTP Shares. Amortization of these costs is included in Interest, facilities and maintenance feeson the Statement of Operations, and the unamortized balance is included in the value of Variable rate muni term preferred shareson the Statement of Assets and Liabilities. Dividends paid on the VMTP Shares (which are treated as interest expense for financial reporting purposes) are declared daily and paid monthly. The initial rate for dividends was equal to the sum of 1.10% per annum plus the Securities Industry and