PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified, closed-end management investment company. The Fund invests substantially all of its assets in municipal bonds, which pay interest that is exempt from federal, New York State and New York income taxes. The Fund would generally seek to avoid investing in bonds generating interest income, which could subject individuals to alternative minimum tax. The investment manager of the Fund is Allianz Fund Management LLC, which is an indirect, wholly owned subsidiary of Allianz Global Investors of America L.P. (Allianz Global). The sub-adviser of the Fund is Pacific Investment Management Company LLC.