Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 355

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 355
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-traded contract price during a single trading day. Once the daily limit has been reached in the contract, no trades may be entered into at a price beyond the limit,   
 thus preventing the liquidation of open positions. Prices have in the past moved beyond the daily limit on a number of consecutive trading days. If it is not possible to close an open derivative position entered into by the Acquiring Fund, the      
 Acquiring Fund would continue to be required to make daily cash payments of variation margin in the event of adverse price movements. In such a situation, if the Acquiring Fund has insufficient cash, it may have to sell portfolio securities to meet 
 daily variation margin requirements at a time when it may be disadvantageous to do so.                                                                                                                                                                   |

| • |     | Correlation Risk—the risk that changes in the value of a derivative will not match the changes in                                                                                                                                                       
 the value of the portfolio holdings that are being hedged or of the particular market or security to which the Acquiring Fund seeks exposure through the use of the derivative. There are a number of factors which may prevent a derivative instrument 
 from achieving the desired correlation (or inverse correlation) with an underlying asset, rate or index, such as the impact of fees, expenses and transaction costs, the timing of pricing, and disruptions or illiquidity in the markets for such      
 derivative instrument.                                                                                                                                                                                                                                  |

| • |     | Index Risk—if the derivative is linked to the performance of an index, it will be subject to the                                                                                                                                                          
 risks associated with changes in that index. If the index changes, the Acquiring Fund could receive lower interest payments or experience a reduction in the value of the derivative to below the price that the Acquiring Fund paid for such derivative. 
 Certain indexed securities, including inverse securities (which move in an opposite direction to the index), may create leverage, to the extent that they increase or decrease in value at a rate that is a multiple of the changes in the applicable     
 index.                                                                                                                                                                                                                                                    |

| • |     | Volatility Risk—the risk that the Acquiring Fund’s use of derivatives may reduce income or                                                                                                                                                        
 gain and/or increase volatility. Volatility is defined as the characteristic of a security, an index or a market to fluctuate significantly in price over a defined time period. The Acquiring Fund could suffer losses related to its derivative 
 positions as a result of unanticipated market movements, which losses are potentially unlimited.                                                                                                                                                  |

When a derivative is used as a hedge against a position that the Acquiring Fund holds,