<SEC-DOCUMENT>0001193125-22-089755.txt : 20220330
<SEC-HEADER>0001193125-22-089755.hdr.sgml : 20220330
<ACCEPTANCE-DATETIME>20220330160343
ACCESSION NUMBER:		0001193125-22-089755
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220330
DATE AS OF CHANGE:		20220330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Dynamic Income Fund
		CENTRAL INDEX KEY:			0001510599
		IRS NUMBER:				274580758
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-250288
		FILM NUMBER:		22786394

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-739-4000

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d280012d424b3.htm
<DESCRIPTION>424B3
<TEXT>
<HTML><HEAD>
<TITLE>424B3</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PIMCO DYNAMIC INCOME FUND </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(the &#147;Fund&#148;) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Supplement dated March&nbsp;30, 2022 to the Fund&#146;s Current Prospectus, as supplemented from time to time </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><I>On March&nbsp;25, 2022, the Fund&#146;s Board of Trustees approved the Fund&#146;s investment in PIMCO Funds: Private
Account Portfolio Series&nbsp;&#150; PIMCO Short-Term Floating NAV Portfolio III and PIMCO Funds: Private Account Portfolio Series&nbsp;&#150; PIMCO Short Asset Portfolio, each a series of PIMCO Funds. Accordingly, effective immediately, the
&#147;Portfolio Contents&nbsp;&#150; Other Investment Companies&#148; section of the Prospectus is deleted and replaced with the following: </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Fund may invest in securities of other open- or <FONT STYLE="white-space:nowrap">closed-end</FONT>
investment companies (including those advised by PIMCO), including, without limitation, ETFs, to the extent that such investments are consistent with the Fund&#146;s investment objectives, strategies and policies and permissible under the 1940 Act.
The Fund may invest in other investment companies to gain broad market or sector exposure or for cash management purposes, including during periods when it has large amounts of uninvested cash or when PIMCO believes share prices of other investment
companies offer attractive values. The Fund may invest in certain money market funds and/or short-term bond funds (&#147;Central Funds&#148;), to the extent permitted by the 1940 Act, the rules thereunder or exemptive relief therefrom. The Central
Funds are registered investment companies created for use by certain registered investment companies advised by PIMCO in connection with their cash management activities. The Fund treats its investments in other investment companies that invest
primarily in types of securities in which the Fund may invest directly as investments in such types of securities for purposes of the Fund&#146;s investment policies (<I>e.g.</I>, the Fund&#146;s investment in an investment company that invests
primarily in debt securities will be treated by the Fund as an investment in a debt security). As a shareholder in an investment company, the Fund would bear its ratable share of that investment company&#146;s expenses and would remain subject to
payment of the Fund&#146;s management fees and other expenses with respect to assets so invested. Common Shareholders would therefore be subject to duplicative expenses to the extent the Fund invests in other investment companies. The securities of
other investment companies may be leveraged, in which case the NAV and/or market value of the investment company&#146;s shares will be more volatile than unleveraged investments. See &#147;Principal Risks of the Fund&#151;Leverage Risk.&#148; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Investors Should Retain This Supplement for Future Reference </U></B></P>
<P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">PDI_SUPP1_033022 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
