Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 136

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 136
---
 a Call Right may exercise such right to require a
mandatory tender for the purchase of related MYI Municipal Bonds, subject to certain conditions. A Call Right that is not exercised prior to maturity of the related MYI Municipal Bond will expire without value. The economic effect of holding both
the Call Right and the related MYI Municipal Bond is identical to holding a MYI Municipal Bond as a non-callable security. Certain investments in such obligations may be illiquid.

Yields. Yields on MYI Municipal Bonds are dependent on a variety of factors, including the general condition of the money market and of
the MYI Municipal Bond market, the size of a particular offering, the financial condition of the issuer, the maturity of the obligation and the rating of the issue. The ability of the Acquiring Fund to achieve its investment objective is also
dependent on the continuing ability of the issuers of the securities in which the Acquiring Fund invests to meet their obligations for the payment of interest and principal when due. There are variations in the risks involved in holding MYI
Municipal Bonds, both within a particular classification and between classifications, depending on numerous factors. Furthermore, the rights of owners of MYI Municipal Bonds and the obligations of the issuer of such MYI Municipal Bonds may be
subject to applicable bankruptcy, insolvency and similar laws and court decisions affecting the rights of creditors generally and to general equitable principles, which may limit the enforcement of certain remedies.

“High Yield” or “Junk” Bonds. The Acquiring Fund may invest up to 20% of its managed assets in securities that are
rated below investment grade, or are considered by BlackRock to be of comparable quality, at the time of purchase, subject to the Acquiring Fund’s other investment policies. Information with respect to ratings assigned to tax-exempt obligations that the Acquiring Fund may purchase is set forth in—Ratings of Investments. MYI Municipal Bonds of below investment grade quality (“Ba/BB”
or below) are commonly known as “junk bonds.” Securities rated below investment grade are judged to have speculative characteristics with respect to their interest and principal payments. Such securities may face major ongoing
uncertainties or exposure to adverse business, financial or economic conditions which could lead to inadequate capacity to meet timely interest and principal payments.

Strategic Transactions and Other Management Techniques

The Acquiring Fund may purchase and sell futures contracts, enter into various interest rate transactions and swap contracts (including, but
not limited to, credit default swaps) and may purchase