Neuberger High Yield (NHS) — Bank of America Acquires 100 Preferred Shares

What Happened
Bank of America Corporation (reporting indirectly through its wholly owned subsidiary Bank of America NA, a 10% owner) acquired 100 Mandatory Redeemable Preferred Shares, Series D (MRPS Shares) of Neuberger High Yield Strategies Fund Inc. (NHS). The MRPS Shares were purchased from the issuer at $100,000 per share, for a total purchase price of $10,000,000. Prior to this transaction BANA beneficially owned 400 MRPS Shares; after the acquisition BANA (and thus BAC indirectly) beneficially owns 500 MRPS Shares.

Key Details

• Transaction date: 2026-08-28; Form 4 filed: 2026-09-01 (timely within standard reporting window).
• Security: 100 Mandatory Redeemable Preferred Shares, Series D (MRPS Shares).
• Price: $100,000 per share; total value $10,000,000 (per footnote). The Table I entry shows N/A for price, but footnote clarifies the $100,000/share price.
• Holdings after transaction: BANA beneficially owns 500 MRPS Shares; BAC holds an indirect interest via 100% ownership of BANA.
• Footnotes: F1 explains the $100,000/share purchase and prior holdings; F2 confirms BAC’s indirect ownership through BANA; F3 states the filing does not imply a group relationship under Section 13(d).

Context
This is an institutional acquisition of preferred shares from the fund (not a common-stock open-market purchase by an executive). Preferred shares have different rights than common stock, so this transaction may not signal the same market sentiment that executive purchases of common shares often do. The filing identifies BAC/BANA as a 10% owner rather than an individual insider.