Company: EOI
Filing Date: 2025-01-22
Form Type: 424B5
Source: 0001193125-25-010284
Chunk: 17

Company: Eaton Vance Enhanced Equity Income Fund
Filing Date: 2025-01-22
Form: 424B5
Chunk 17
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 covered call options on a substantial portion of its portfolio, although on up to 5% of the Fund’s net assets, the Fund may sell the stock underlying a call option prior to purchasing back the call option. Such sales shall occur no more than three days before the option buy back. The extent of option writing activity depends upon market conditions and the Adviser’s ongoing assessment of the attractiveness of writing call options on the Fund’s stock holdings. Writing call options involves a tradeoff between the option premiums received and reduced participation in potential future stock price appreciation. Depending on the Adviser’s evaluation, the Fund may write call options on varying percentages of the Fund’s common stock holdings. The Fund seeks to generate current earnings from option writing premiums and, to a lesser extent, from dividends on stocks held. The Fund’s call option-writing program seeks to achieve a high level of net option premiums, while maintaining the potential for capital appreciation in each stock on which options are written up to a defined target price for that stock determined by the Adviser. The Fund may in certain circumstances purchase put options on the Standard & Poor’s 500 ®Composite Stock Price Index (“S&P 500 ®”) and other broad-based securities indices deemed suitable for this purpose, and/or on individual stocks held in its portfolio or use other derivative instruments in order to help protect against a decline in the value of its portfolio securities. During unusual market conditions, the Fund may invest up to 100% of its assets in cash or cash equivalents temporarily, which may be inconsistent with its investment objectives, principal strategies and other policies. Exchange Listing. As of January 13, 2025, the Fund had 40,775,628 Common Shares outstanding. The Fund’s Common Shares are traded on the New York Stock Exchange (“NYSE”) under the symbol “EOI.” As of January 13, 2025, the last reported sales price of a Common Share of the Fund on the NYSE was $20.34. Common Shares offered and sold pursuant to this Registration Statement will also be listed on the NYSE and trade under this symbol. The Fund’s net asset value and distribution rate will vary and may be affected by numerous factors, including changes in stock prices, option premiums, market interest rates, dividend rates and other factors. An investment in the Fund may not be appropriate for all investors. There is no assurance that the Fund will achieve its investment objectives. This Prospectus, together with any applicable Prospectus Supplement, sets forth concisely information you should know before investing in the