Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 165

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 165
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 that a portion of the income it produces will be includable in alternative minimum taxable income. VMTP Shares therefore would not ordinarily be a suitable investment for investors who are subject to the federal
alternative minimum tax or who would become subject to such tax by purchasing VMTP Shares. The suitability of an investment in VMTP Shares will depend upon a comparison of the after-tax yield likely to be
provided from MVT with that from comparable tax-exempt investments not subject to the alternative minimum tax, and from comparable fully taxable investments, in light of each such investor’s tax position.
Special considerations may apply to corporate investors.

The average maturity of MVT’s portfolio securities varies from time to time
based upon an assessment of economic and market conditions by the Investment Advisor. MVT’s portfolio at any given time may include long- term and intermediate-term MVT Municipal Bonds.

MVT’s stated expectation is that it will invest in MVT Municipal Bonds that, in the Investment Advisor’s opinion, are underrated or
undervalued. Underrated MVT Municipal Bonds are those whose ratings do not, in the opinion of the Investment Advisor, reflect their true higher creditworthiness. Undervalued MVT Municipal Bonds are bonds that, in the opinion of the Investment
Advisor, are worth more than the value assigned to them in the marketplace. The Investment Advisor may at times believe that bonds associated with a particular municipal market sector (for example, but not limited to electric utilities), or issued
by a particular municipal issuer, are undervalued. The Investment Advisor may purchase those bonds for MVT’s portfolio because they represent a market sector or issuer that the Investment Advisor considers undervalued, even if the value of
those particular bonds appears to be consistent with the value of similar bonds. MVT Municipal Bonds of particular types (for example, but not limited to hospital bonds, industrial revenue bonds or bonds issued by a particular municipal issuer) may
be undervalued because there is a temporary excess of supply in that market sector, or because of a general decline in the market price of MVT Municipal Bonds of the market sector for reasons that do not apply to the particular MVT Municipal Bonds
that are considered undervalued. MVT’s investment in underrated or undervalued MVT Municipal Bonds will be based on the Investment Advisor’s belief that their yield is higher than that available on bonds bearing equivalent levels of
interest rate risk, credit risk and other forms of risk, and that their prices will ultimately rise, relative to the market, to reflect their