Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 59

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 59
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 (1) | General Obligation Bonds Risks — Timely payments depend on the issuer’s credit quality, ability to 
 raise tax revenues and ability to maintain an adequate tax base.                                   |

| (2) | Revenue Bonds Risks — These payments depend on the money earned by the particular facility or class of 
 facilities, or the amount of revenues derived from another source.                                     |

| (3) | Private Activity Bonds Risks — Municipalities and other public authorities issue private activity bonds                                                                                                                               
 to finance development of industrial facilities for use by a private enterprise. The private enterprise pays the principal and interest on the bond, and the issuer does not pledge its faith, credit and taxing power for repayment. |

| (4) | Moral Obligation Bonds Risks — Moral obligation bonds are generally issued by special purpose public                                                                                                    
 authorities of a state or municipality. If the issuer is unable to meet its obligations, repayment of these bonds becomes a moral commitment, but not a legal obligation, of the state or municipality. |

| (5) | Municipal Notes Risks — Municipal notes are shorter term municipal debt obligations. If there is a              
 shortfall in the anticipated proceeds, the notes may not be fully repaid and the Acquiring Fund may lose money. |

| (6) | Municipal Lease Obligations Risks — In a municipal lease obligation, the issuer agrees to make payments                                                                                       
 when due on the lease obligation. Although the issuer does not pledge its unlimited taxing power for payment of the lease obligation, the lease obligation is secured by the leased property. |

| (7) | Tax-exempt Status Risk — The Acquiring Fund and the Investment                                                                                                                                                                                           
 Advisor will rely on the opinion of issuers’ bond counsel and, in the case of certain derivative securities, sponsors’ counsel, on the tax-exempt status of interest on municipal bonds and payments                                                     
 under derivative securities. Neither the Acquiring Fund nor the Investment Advisor will independently review the bases for those tax opinions, which may ultimately be determined to be incorrect and subject the Acquiring Fund and its shareholders to 
 substantial tax liabilities.                                                                                                                                                                                                                             |

Risk Factors and Special Considerations Relating to Municipal Securities. The risks and special considerations involved in investment in municipal securities vary with the types of instruments being acquired. Certain instruments in which the Acquiring Fund may invest may be characterized as derivative instruments. See “The Acquiring Fund’s Investments—Description of MYI Municipal Bonds” and “The Acquiring Fund’s Investments—Strategic Transactions and Other Management Techniques—Financial