<SEC-DOCUMENT>0001214659-17-003853.txt : 20170605
<SEC-HEADER>0001214659-17-003853.hdr.sgml : 20170605
<ACCEPTANCE-DATETIME>20170605163741
ACCESSION NUMBER:		0001214659-17-003853
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170605
DATE AS OF CHANGE:		20170605

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco Pennsylvania Value Municipal Income Trust
		CENTRAL INDEX KEY:			0000895528
		IRS NUMBER:				367017427
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-84427
		FILM NUMBER:		17891684

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Invesco Van Kampen Pennsylvania Value Municipal Income Trust
		DATE OF NAME CHANGE:	20100601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19981006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VAN KAMPEN AMERICAN CAPITAL PENNSYLVANIA VALUE MUNIC INCO TR
		DATE OF NAME CHANGE:	19971007

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RBC Capital Markets, LLC
		CENTRAL INDEX KEY:			0000050916
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				411228350
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		RBC DAIN RAUSCHER PLAZA
		STREET 2:		60 SOUTH SIXTH STREET
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
		BUSINESS PHONE:		612 371-2711

	MAIL ADDRESS:	
		STREET 1:		60 SOUTH 6TH STREET
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RBC Capital Markets CORP
		DATE OF NAME CHANGE:	20080325

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RBC DAIN RAUSCHER INC
		DATE OF NAME CHANGE:	20060110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RBC DAIN RAUSCHER CORP
		DATE OF NAME CHANGE:	20011228
</SEC-HEADER>
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<TYPE>SC 13G
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<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">UNITED STATES</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt"><br>
</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</font></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">SCHEDULE 13G</div>

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<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Under the Securities Exchange Act of 1934<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Invesco Pennsylvania Value Municipal Income Trust</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Name of Issuer)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">46132K 604</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">June 1, 2017</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font>&#160;Rule 13d-1(b)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font> Rule 13d-1(c)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160;Rule 13d-1(d)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">* The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The information required in the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section&#160;18 of the Securities Exchange Act of 1934 (&#8220;Act&#8221;) 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).</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">46132K 604<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NAMES OF REPORTING PERSONS</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;RBC Capital Markets, LLC</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#9744;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SEC USE ONLY</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Minnesota</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SOLE VOTING POWER</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NUMBER OF</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: middle" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SHARES</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">6</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SHARED VOTING POWER</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BENEFICIALLY</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">OWNED BY</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">75</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: middle" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">EACH</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">7</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SOLE DISPOSITIVE POWER</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">REPORTING</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">PERSON</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">75</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: middle" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">WITH:</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 3.02%; VERTICAL-ALIGN: middle; BORDER-RIGHT: #000000 2px solid" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">8</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">SHARED DISPOSITIVE POWER</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 16.94%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 0.93%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 79.11%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">9</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">75</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">10</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (9)&#160;EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">11</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: bottom; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">5.45%</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
<td style="WIDTH: 90.75%; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 7.71%; VERTICAL-ALIGN: middle" rowspan="3">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">12</div>
</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 1.54%; VERTICAL-ALIGN: bottom">
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">BD</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 1(a) Name of issuer: </div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Invesco Pennsylvania Value Municipal Income Trust</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 1(b) Address of issuer's principal executive offices:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">1555 Peachtree Street, N.E.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> Atlanta, Georgia&#160; 30309</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2(a) Name of person filing:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">RBC Capital Markets, LLC ("RBCCM")</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2(b) Address or principal business office or, if none, residence:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Brookfield Place</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">200 Vesey Street</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">New York, New York 10281</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2(c) Citizenship or Place of Organization:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Minnesota</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2(d) Title of class of securities:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Variable Rate Muni Term Preferred Shares ("VMTP")</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2(e) CUSIP No.:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">46132K 604</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 3. </font>If this statement is filed pursuant to &#167;&#167;240.13d&#8211;1(b) or 240.13d&#8211;2(b) or (c), check whether the person filing is a:</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(a) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9746;</font> Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(b) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font> Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(c) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(d) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a&#8211;8);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(e) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; An investment adviser in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(E);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(f) &#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; An employee benefit plan or endowment fund in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(F);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(g) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; A parent holding company or control person in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(G);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(h) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(i) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a&#8211;3);</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(j) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; A non-U.S. institution in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(J);</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(k) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font>&#160; Group, in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with &#167;240.13d&#8211;1(b)(1)(ii)(J), please specify the type of institution: ____</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 4. Ownership</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(a) Amount beneficially owned:&#160; 75*</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(b) Percent of class:&#160; 5.45%</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(c) Number of shares as to which the person has:</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(i) Sole power to vote or to direct the vote:&#160;&#160; 0</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(ii) Shared power to vote or to direct the vote:&#160; 75**</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(iii) Sole power to dispose or to direct the disposition of:&#160; 75</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(iv) Shared power to dispose or to direct the disposition of:&#160; 0</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">*&#160; In addition to the 75 shares of VMTP acquired by RBCCM on June 1, 2017, RBC Municipal Products, LLC ("RBCMP"), an affiliate of RBCCM, is the beneficial owner of 1,301 shares of VMTP which are separately reported by RBCMP in a Schedule 13D filing.</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">**&#160; On May 15, 2012 RBC Municipal Products, Inc. as succeeded by conversion by RBC Municipal Products, LLC ("RBCMP") assigned certain preferred class voting rights on the VMTP to a voting trust (the "Voting Trust") created pursuant to the Voting Trust Agreement, dated May 15, 2012 among RBCMP, Lord Securities Corporation, as trustee (the "Voting Trustee") and Institutional Shareholder Services Inc. (the "Voting Consultant"), as amended.&#160; The Voting Trust provides that with respect to voting or consent matters relating to the voting rights assigned to the Voting Trust, the Voting Consultant analyzes such voting or consent matters and makes a recommendation to the Voting Trustee on voting or consenting.&#160; The Voting Trustee is obligated to follow any such recommendations of the Voting Consultant when providing a vote or consent.&#160; The 75 shares<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>of VMTP acquired by RBCCM on June 1, 2017, together with the 1,301 shares of VMTP previously acquired by RBCMP, are subject to the foregoing voting arrangement.<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160; </font>Voting and consent rights on the VMTP not assigned to the Voting Trust have been retained by RBCCM.</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 5. </font>Ownership of 5 Percent or Less of a Class.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</font> .</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 6. </font>Ownership of More than 5 Percent on Behalf of Another Person.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Not Applicable</div>

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<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 7. </font>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Not Applicable</div>

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<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 8. Identification and Classification of Members of the Group</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Not Applicable</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 9. </font>Notice of Dissolution of Group.</div>

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<div>Not Applicable</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Item 10. Certifications</div>

<div>&#160;</div>

<div>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURE</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">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.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">June 2, 2017</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">RBC CAPITAL MARKETS, LLC</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">By: /s/ John Penn*</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Name: John Penn</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Title:&#160; Authorized Signatory</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">*This Schedule 13G/A was executed by John Penn pursuant to the power of attorney filed with the Securities and Exchange Commission on November 12, 2010 in connection with a Schedule 13G/A for RMR Real Estate Income Fund, which power of attorney is incorporated herein by reference.</div>

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<div>&#160;</div>

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