<SEC-DOCUMENT>0001999371-25-016349.txt : 20251029
<SEC-HEADER>0001999371-25-016349.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029075916
ACCESSION NUMBER:		0001999371-25-016349
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Saba Capital Income & Opportunities Fund
		CENTRAL INDEX KEY:			0000826020
		ORGANIZATION NAME:           	
		EIN:				956874587
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1030

	FILING VALUES:
		FORM TYPE:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288532
		FILM NUMBER:		251426894

	BUSINESS ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
		BUSINESS PHONE:		212-542-3610

	MAIL ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE, 58TH FLOOR
		STREET 2:		C/O SABA CAPITAL MANAGEMENT, L.P.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Voya PRIME RATE TRUST
		DATE OF NAME CHANGE:	20140421

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ING PRIME RATE TRUST
		DATE OF NAME CHANGE:	20020205

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM AMERICA PRIME RATE TRUST
		DATE OF NAME CHANGE:	19960518
</SEC-HEADER>
<DOCUMENT>
<TYPE>497AD
<SEQUENCE>1
<FILENAME>saba-497ad_102925.htm
<DESCRIPTION>FORM 497AD
<TEXT>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 10.25pt 0 0">&nbsp;</P>

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    <TD STYLE="width: 100%; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><IMG SRC="sabacaplogo.jpg" ALT="" STYLE="height: 106px; width: 233px"></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman,serif; margin: 10.25pt 0 0">&nbsp;</P>

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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 50%; font: bold 10.5pt Times New Roman, Times, Serif; vertical-align: bottom"><BR STYLE="clear: both">
SABA CAPITAL INCOME &amp; OPPORTUNITIES FUND</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 50%; font: bold 10.5pt Times New Roman, Times, Serif; text-align: right">FOR IMMEDIATE RELEASE</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 4.6pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif"><FONT STYLE="font-size: 10pt">405 Lexington Avenue, 58th Floor</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 10pt">October 29, <FONT STYLE="letter-spacing: -0.2pt">2025</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-size: 10pt">New York, New York 10174</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-size: 10pt">Contact: 844-460-<FONT STYLE="letter-spacing: -0.2pt">9411</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0in 0in; text-align: center"><B>Saba Capital Income &amp; Opportunities
Fund (BRW) Announces Preliminary Results of Rights Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0.25in 0; text-indent: 40.5pt"><B>New York, New York</B> &ndash; Saba
Capital Income &amp; Opportunities Fund (NYSE: BRW) (the &ldquo;Fund&rdquo;), a registered closed-end management investment company listed
on the New York Stock Exchange, today announced the preliminary results of its successful transferable rights offer (the &ldquo;Offer&rdquo;)
which expired on October 28, 2025 (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0.25in 0; text-indent: 40.5pt">The subscription price for the Fund&rsquo;s
common shares of beneficial interest, without par value (the &ldquo;Common Shares&rdquo;), to be issued was $7.26 per Common Share, which
was equal to 87.5% of the Fund&rsquo;s net asset value per Common Share at the close of trading on the New York Stock Exchange on the
Expiration Date. Gross proceeds received by the Fund, before any expenses of the Offer, are expected to total approximately $78.7 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0.25in 0; text-indent: 40.5pt"><B>The information in this press release
is not complete and is subject to change. This document is not an offer to sell any securities and is not soliciting an offer to buy any
securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a
prospectus. Investors should consider the Fund&rsquo;s investment objective, risks, charges and expenses carefully before investing. The
Fund&rsquo;s prospectus supplement and accompanying prospectus contains additional information about the Fund and additional information
about the Offer. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.5pt"><B>About Saba Capital Income &amp; Opportunities
Fund.</B> Saba Capital Income &amp; Opportunities Fund is a publicly-traded registered closed-end management investment company. The Fund&rsquo;s
common shares trade on the New York Stock Exchange under the ticker symbol &ldquo;BRW.&rdquo; The Fund is managed by Saba Capital Management,
L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.5pt"><B>Forward-Looking Statements.</B> This press
release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements
that are not statements of historical fact (including but not limited to statements containing the words &ldquo;believes,&rdquo; &ldquo;plans,&rdquo;
&ldquo;anticipates,&rdquo; &ldquo;expects,&rdquo; &ldquo;estimates&rdquo; and similar expressions) should also be considered to be forward-looking
statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties.
Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements.
These factors, including but not limited to the &ldquo;Risks&rdquo; noted in the Fund&rsquo;s prospectus as well as the uncertainty as
to whether the Fund will realize anticipated benefits from the Offer, are identified from time to time in the Fund&rsquo;s filings with
the Securities and Exchange Commission as well as the materials on the Fund&rsquo;s website. Forward-looking statements speak only as
of the date they are made, and the Fund assumes no duty to and does not undertake to update forward-looking statements. Actual results
could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical
performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in; text-indent: 40.5pt">For further information on Saba Capital Income
&amp; Opportunities Fund, please visit our website at: www.sabacef.com.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0.25in 0 0">&nbsp;</P>

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