Schedule 13D/A Update: Sept 5, 2025 Amendment for VCV VMTP Shares

Rhea-AI Filing Summary

Amendment No. 5 to a Schedule 13D reports that Bank of America Corporation and Banc of America Preferred Funding Corp (the "Reporting Persons") have filed an amendment relating to the Series 2015/6-VCV Variable Rate Muni Term Preferred Shares of Invesco California Value Municipal Income Trust (CUSIP 46132H601). The amendment relates to the execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025, and updates schedules and exhibits in the original Schedule 13D filed November 27, 2019. The reporting tables show the Reporting Persons together beneficially own 1,770 shares, representing 100.0% of the class, with shared voting and dispositive power of 1,770 shares. The filing lists replaced exhibits including a joint filing agreement, power of attorney, updated schedules and the September 5, 2025 amendment as Exhibit 99.9.

Positive

• Reporting persons disclose full ownership of the class: 1,770 shares representing 100.0% of the class
• Amendment executed to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025
• Updated exhibits and schedules filed (including Joint Filing Agreement, Power of Attorney and the amendment as Exhibit 99.9)

Negative

• Main text does not include transactional terms of the September 5, 2025 amendment in-line (terms are provided as Exhibit 99.9 rather than summarized)
• The filing is primarily procedural and does not disclose financial metrics or economic impact related to the amendment

Insights

Financial Analyst

TL;DR: Reporting persons hold 100% of the VMTP class and filed Amendment No.5 to update schedules and attach a September 5, 2025 purchase-agreement amendment.

The filing documents that BAC and BAPFC beneficially own 1,770 VMTP shares, equal to 100% of the class, and that they executed an amendment to the purchase agreement dated September 5, 2025. This amendment replaces prior schedules and exhibits in the Original Schedule 13D. The disclosure is procedural and documents ownership and contract amendment; the filing itself does not present operational financial metrics or change reported share counts beyond confirming complete class ownership.

Corporate Governance Expert

TL;DR: Ownership and governance disclosures updated; exhibits and schedules replaced to reflect a September 5, 2025 agreement amendment.

The amendment updates identity/background information and replaces referenced schedules and exhibits, indicating housekeeping and contractual documentation updates for the VMTP shares. The filing identifies shared voting and dispositive power for the Reporting Persons and attaches governance-related exhibits (joint filing agreement and power of attorney). The disclosure appears to ensure SEC record consistency following the executed amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Invesco California Value Municipal Income Trust

(Name of Issuer)

SERIES 2015/6-VCV VARIABLE RATE MUNI TERM PREFERRED SHARES

(Title of Class of Securities)

46132H601

(CUSIP Number)

Bank of America Corporation
Bank of America Corporate Center, 100 N. Tryon Street
Charlotte, NC, 28255
980-825-9256

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/05/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 46132H601

1

Name of reporting person

BANK OF AMERICA CORP /DE/

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,770.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,770.00

11

Aggregate amount beneficially owned by each reporting person

1,770.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100.0 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 46132H601

1

Name of reporting person

Banc of America Preferred Funding Corp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,770.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,770.00

11

Aggregate amount beneficially owned by each reporting person

1,770.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: SERIES 2015/6-VCV VARIABLE RATE MUNI TERM PREFERRED SHARES
(b)	Name of Issuer: Invesco California Value Municipal Income Trust
(c)	Address of Issuer's Principal Executive Offices: 1331 SPRING STREET N.W., 1331 SPRING STREET N.W., ATLANTA, GEORGIA , 30309.
Item 1 Comment: This Amendment No. 5 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated November 18, 2019 and filed with the SEC on November 27, 2019 (as amended to the date hereof, the "Original Schedule 13D"), for Bank of America Corporation ("BAC") and Banc of America Preferred Funding Corporation ("BAPFC") (collectively, the "Reporting Persons") with respect to the Series 2015/6-VCV Variable Rate Muni Term Preferred Shares (CUSIP No. 46132H601) ("VMTP Shares") of Invesco California Value Municipal Income Trust (the "Issuer"). This Amendment is being filed in relation to the execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement, dated as of September 5, 2025 relating to the VMTP Shares (CUSIP No. 46132H601) of the Issuer, a copy of which is filed herewith as Exhibit 99.9.
Item 2.	Identity and Background
(c)	Item 2(c) of the Original Schedule 13D is hereby amended by deleting Schedule I referenced therein and replacing it with Schedule I included with this Amendment.
(d)	Item 2(d) of the Original Schedule 13D is hereby amended by deleting Schedule II referenced therein and replacing it with Schedule II included with this Amendment.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits: "Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Power of Attorney 99.7 Schedule I 99.8 Schedule II 99.9 Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement, dated September 5, 2025"

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF AMERICA CORP /DE/

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	09/09/2025

Banc of America Preferred Funding Corp

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	09/09/2025

FAQ

Who filed the Schedule 13D/A for VCV (CUSIP 46132H601)?

The filing was made by Bank of America Corporation and Banc of America Preferred Funding Corp as the Reporting Persons.

How many VMTP shares are reported and what percent of the class do they represent?

The Reporting Persons beneficially own 1,770 shares, representing 100.0% of the class.

What event prompted this Amendment No. 5?

The amendment is filed in relation to the execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025.

Were any exhibits or schedules changed by this amendment?

Yes. The filing replaces prior Schedule I and Schedule II and replaces Exhibit 99.1 and 99.2, adding Exhibits including 99.1 Joint Filing Agreement, 99.2 Power of Attorney, 99.7 Schedule I, 99.8 Schedule II, and 99.9 the September 5, 2025 amendment.

Does the filing disclose voting and dispositive power for the reported shares?

Yes. The tables show shared voting power of 1,770 and shared dispositive power of 1,770; sole voting and dispositive power are reported as 0.00.