DEFA14A 1 d800391ddefa14a.htm BLACKROCK NEW YORK MUNICIPAL INCOME TRUST (BNY)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

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BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if Other than the Registrant)

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Your vote matters BlackRock New York Municipal Income Trust (NYSE: BNY)
Outperformance1 #1 Performing Fund in Peer Group in 2023 10%
Return on Net Asset Value (approximate) in 2023, outperforming 100% of competitor funds Monthly Tax-Exempt Income2 9.3%
Tax equivalent yield 41% Increase in monthly distributions since November 2023
The future of your long-term investment depends on you At this year’s upcoming Annual Meeting on June 17, we are asking all BNY shareholders to make their voices heard and protect their investment. An activist hedge fund, Saba Capital Management L.P. (“Saba”), is attempting to influence your Fund’s board through the election of its own candidates, who may potentially seek to change your Fund’s strategy and its ability to deliver the consistent, stable income you rely on. Vote on the enclosed white proxy card today:
“FOR” BlackRock Board nominees BlackRock brings best-in-class expertise and deep experience as investment advisor
BlackRock is a leader in Municipal bond investing with $185 billion in Municipal Assets Under Management, including $20 billion in closed-end Municipal funds. BlackRock Municipal CEFs leverage a team of 53 dedicated Municipal professionals with an average 23+ years of investment experience4 Management fee ranks in the 1st quartile relative to peers3
Voluntarily repurchased over $5 million of shares, adding approximately $900K to BNY’s net asset value since inception4
1. Morningstar data as of March 31, 2024. Peer group reflects the Morningstar Closed-End Muni New York Long category, not including BlackRock funds 2. Morningstar data as of March 31, 2024. Assumes a federal tax rate of 37.00% and a New York tax rate of 10.90% for a total combined rate of 47.90% 3. Broadridge data as of 12/31/2023. Peer group reflects Broadridge Expense Group for BNY 4. BlackRock data as of March 31, 2024.
BlackRock®

Your Board is under attack by a self-serving activist hedge fund.
Protect your long-term investment by voting for your board-recommended nominees on the enclosed white card
Your BlackRock Board nominees up for election J. Phillip Holloman Former President and Chief Operating Officer of Cintas Corporation and director of PulteGroup, Inc. and Rockwell Automation Inc.
Catherine A. Lynch, CFA Former Chief Executive Officer and Chief Investment Officer of the National Railroad Retirement Investment. Board Director for PennyMac Mortgage Investment Trust Arthur P. Steinmetz Former Chairman, Chief Executive Officer and President of the Oppenheimer Funds, Inc. Former Director of ScotiaBank (U.S.) Your Board delivers: Experience
Actions to protect all shareholders Business & governance expertise
Execution for the long term Diversity BlackRock®

Vote for your Trustees on the enclosed white proxy card BlackRock New York Municipal Income Trust (NYSE: BNY)
Please do NOT send back any proxy card you may receive from Saba We ask that all shareholders vote on the enclosed white proxy card to preserve your Fund: “FOR” BlackRock Board nominees
How do I vote? Vote online Using the website provided on your enclosed white proxy card and following the simple instructions www.proxyvote.com
Vote by phone By calling the toll-free number on your enclosed white proxy card and following the simple instructions
Vote by mail By completing and returning your enclosed white proxy card in the postage paid envelope provided.
If you have any questions about the proposal to be voted, please feel free to contact Georgeson LLC (“Georgeson”), toll free at 1-866-529-0358. BlackRock®

Important information about the Fund
This material is not an advertisement and is intended for existing shareholder use only. This document and the information contained herein relates solely to BlackRock New York
Municipal Income Trust (BNY). The information contained herein does not relate to, and is not relevant to, any other fund or product sponsored or distributed by BlackRock or any of its affiliates. This document is not an offer to sell any securities and is not a solicitation of an offer to buy any securities.
Common shares for the closed-end fund identified above are only available for purchase and sale at current market price on a stock exchange. A closed-end fund’s dividend yield, market price and NAV will fluctuate with market conditions. The information for this Fund is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares.
Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a fund’s shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount.
© 2024 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc., or its affiliates. All other trademarks are those of their respective owners. May 2024 | BlackRock New York Municipal Income Trust (BNY)
Not FDIC Insured • May Lose Value • No Bank Guarantee BNY_2024_FL1 BlackRock