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Form 4: BofA and Merrill Lynch report 2,100-share NZF transactions on 08/19/2025

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Nuveen Municipal Credit Income Fund (NZF) had a set of intraday transactions reported on Form 4 by Bank of America Corporation and its subsidiary Merrill Lynch. On 08/19/2025 the Reporting Persons purchased a total of 2,100 shares of NZF common stock in four purchase transactions at prices between $11.805 and $11.8085 per share, and then sold 2,100 shares at $11.86 per share. The transactions are reported as indirect beneficial ownership and, after the sale, the report shows 0 shares beneficially owned following the transactions. The Form 4 is jointly filed by Bank of America Corporation and Merrill Lynch and includes standard disclaimers that the Reporting Persons disclaim beneficial ownership except for any pecuniary interest.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Small net-zero position change: purchases and an immediate sale of 2,100 NZF shares executed the same day; no ongoing beneficial ownership reported.

The reported trades on 08/19/2025 consist of four small purchases totaling 2,100 shares followed by a sale of the same 2,100 shares, with prices clustered around $11.805 to $11.86. The transactions are disclosed as indirect holdings and the filing shows 0 shares beneficially owned after the sale. The filing is joint between Bank of America Corporation and Merrill Lynch and includes standard legal disclaimers. From a financial perspective these are routine Section 16 disclosures documenting short-duration activity rather than a change in long-term ownership.

TL;DR: Proper joint disclosure and disclaimers present; filing shows no retained indirect ownership after reported transactions.

The Form 4 is properly signed and jointly filed by the two reporting entities and includes explicit disclaimer language about beneficial ownership and potential remittance of any Section 16(b) recoverable profits. The report identifies the transactions as indirect and records zero shares held after the sale, which is consistent with a transient trading pattern and meets standard disclosure expectations under Section 16(a).

Insider BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role 10% Owner | 10% Owner
Bought 2,100 shs ($25K)
Sold 2,100 shs ($25K)
Type Security Shares Price Value
Purchase COMMON STOCK 1,400 $11.8085 $17K
Purchase COMMON STOCK 300 $11.805 $4K
Purchase COMMON STOCK 300 $11.805 $4K
Purchase COMMON STOCK 100 $11.805 $1K
Sale COMMON STOCK 2,100 $11.86 $25K
Holdings After Transaction: COMMON STOCK — 0 shares (Indirect, See Footnotes)
Footnotes (3)
  1. F1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
  2. F2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
  3. F3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last) (First) (Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NC 28255
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Nuveen Municipal Credit Income Fund [ NZF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK(1)(2)(3) 08/19/2025 P 1,400 A $11.8085 1,400 I See Footnotes(1)(2)(3)
COMMON STOCK(1)(2)(3) 08/19/2025 P 300 A $11.805 1,700 I See Footnotes(1)(2)(3)
COMMON STOCK(1)(2)(3) 08/19/2025 P 300 A $11.805 2,000 I See Footnotes(1)(2)(3)
COMMON STOCK(1)(2)(3) 08/19/2025 P 100 A $11.805 2,100 I See Footnotes(1)(2)(3)
COMMON STOCK(1)(2)(3) 08/19/2025 S 2,100 D $11.86 0 I See Footnotes(1)(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last) (First) (Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NC 28255
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
(Last) (First) (Middle)
ONE BRYANT PARK
(Street)
NEW YORK NY 10036
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.
BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory Andres Ortiz 08/21/2025
MERRIL LYNCH, PIERCE, FENNER & SMITH INC. By: Its: Authorized Signatory Andres Ortiz 08/21/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR