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BNY Mellon Hi Yld Stgs Fd

The Bank of New York Mellon Corporation is currently engaged in a global brand strategy initiative with the aim of building a global investment brand for BNY Investments. In connection with this initiative, “BNY Mellon” is being replaced with “BNY” to align with the BNY Investments brand. Accordingly, on the Effective Date, the Fund’s name will be “BNY High Yield Strategies Fund”.

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Listed closed-end funds (CEFs) and business development companies (BDCs) trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor can sell shares at a price greater than or equal to the purchase price, or that a CEF’s or BDC’s discount will narrow or be eliminated. Non-listed closed-end funds and business development companies do not offer investors daily liquidity, but rather on a quarterly or semi-annual basis, often on a small percentage of shares. CEFs often use leverage, which can increase a fund’s risk or volatility. The actual amount of distributions may vary with fund performance and other conditions.

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