SCHEDULE
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SCHEDULE
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to Section 240.14a-12
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Eaton
Vance New York Municipal Income Trust
(Name of
Registrant as Specified in Its Charter)
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(Name of
Person(s) Filing Proxy Statement, if Other Than the Registrant)
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Investor Contact: (800) 262-1122
FOR IMMEDIATE RELEASE
Results of Joint Special Shareholder Meeting
of
Eaton Vance Floating-Rate Income Trust, Eaton
Vance New York Municipal Income Trust and Eaton Vance Senior Floating-Rate Trust
BOSTON, MA, April 15, 2021 — At a joint
special meeting of shareholders held on April 9, 2021 (the “Joint Special Meeting”), shareholders of Eaton Vance Floating-Rate
Income Trust (NYSE: EFT), Eaton Vance New York Municipal Income Trust (NYSE American: EVY) and Eaton Vance Senior Floating-Rate
Trust (NYSE: EFR) (collectively, the “Funds”) were asked to approve new investment advisory agreements (each, a “New
Agreement”) with Eaton Vance Management (“EVM”), the Funds’ investment adviser. A quorum was not present,
and the Joint Special Meeting was adjourned to April 16, 2021 at 9:00 a.m. Eastern Time to allow more time for Fund shareholders
to vote. The October 29, 2020 record date for shareholders entitled to vote at the adjourned Joint Special Meeting remains unchanged.
Information about the adjourned Joint Special Meeting appears below.1
As announced on March 16, 2021, each Fund’s Board
of Trustees (each, a “Board”) has authorized a conditional cash tender offer for up to 25% of such Fund’s outstanding
common shares at a price equal to 99% of the Fund’s net asset value as of the close of regular trading on the New York Stock
Exchange on the date the tender offer expires. Each Fund’s tender offer is conditioned on shareholder approval of a New Agreement
with EVM for such Fund. On March 16, 2021, EFT and EFR also announced an increase in their regular monthly distributions on common
shares of approximately 25% from their respective March 2021 distributions, conditioned on each Fund’s shareholders approving
the New Agreement with EVM for such Fund.
EVM was formerly a wholly owned subsidiary of Eaton Vance
Corp., which was acquired by Morgan Stanley (NYSE: MS) on March 1, 2021 (the “Transaction”). EVM is now part of Morgan
Stanley Investment Management, the asset management division of Morgan Stanley. EVM continues to manage the Funds under interim
investment advisory agreements (each, an “Interim Agreement”) that were approved by the Boards. Each Interim Agreement
took effect upon the closing of the Transaction and may continue for a term of up to 150 days.
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As announced on April 12, 2021, EVY’s Board has approved a plan of liquidation and termination
of EVY. The liquidation and termination pursuant to the plan will be submitted to EVY shareholders for approval at a special meeting
of shareholders (the “EVY Special Meeting”), which is scheduled to be held on June 25, 2021. The EVY Board recommends
that shareholders vote for the liquidation and termination at the EVY Special Meeting. The EVY Board has set a record date of April
23, 2021 (the “Record Date”) for determining those shareholders of EVY entitled to notice of,
and to vote at, the EVY Special Meeting, or at any adjournment or postponement thereof.
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Adjourned Joint Special Meeting. If, as of October
29, 2020, you were a shareholder of EFT, EVY or EFR and have not yet voted, the Funds urge you to submit your vote in advance of
the adjourned Joint Special Meeting by one of the methods described in the Funds’ proxy materials. The Funds’ proxy
statement is available online at https://funds.eatonvance.com/closed-end-fund-and-term-trust-documents.php.
If, as of October 29, 2020, you were a holder of record
of EFT, EVY and/or EFR shares (i.e., you held Fund shares in your own name directly with the Fund) and wish to participate
in and vote at the adjourned Joint Special Meeting, you should email your full name and address to AST at attendameeting@astfinancial.com.
You will then be provided with credentials to participate in the adjourned Joint Special Meeting. You will be able to vote by entering
the control number found on the proxy card you previously received. All requests to participate in and/or vote at the adjourned
Joint Special Meeting must be received by AST by no later than 3:00 p.m. Eastern Time on April 15, 2021.
If, as of the relevant record date, you held EFT,
EVY and/or EFR shares through an intermediary (such as a broker-dealer) and wish to participate in and vote at the adjourned
Joint Special Meeting, you will need to obtain a legal proxy from your intermediary reflecting the Fund’s name, the number
of Fund shares you held and your name and email address. You may forward an email from your intermediary containing the legal proxy
or attach an image of the legal proxy to an email and send it to AST at attendameeting@astfinancial.com with “Legal Proxy”
in the subject line. You will then be provided with credentials to participate in the adjourned Joint Special Meeting, as well
as a unique control number to vote your shares. If you would like to participate in, but NOT vote at, the adjourned Joint Special
Meeting, please send an email to AST at attendameeting@astfinancial.com with proof of ownership of EFT, EFR and/or EVY shares.
A statement, letter or the Vote Instruction Form from your intermediary will be sufficient proof of ownership. You will then be
provided with credentials to participate in the adjourned Joint Special Meeting. All requests to participate in and/or vote at
the adjourned Joint Special Meeting must be received by AST by no later than 3:00 p.m. Eastern Time on April 15, 2021.
Please contact AST at attendameeting@astfinancial.com
with any questions regarding access to the adjourned Joint Special Meeting, and an AST representative will contact you to answer
your questions.
About the Funds
Except pursuant to a tender offer, common shares of the
Funds are available for purchase or sale only through secondary market trading at their current market price. Shares of closed-end
funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based
on factors affecting the supply and demand for shares, such as Fund distribution rates relative to
similar investments, investors’ expectations for
future distribution changes, the clarity of a Fund’s investment strategy and future return expectations, and investors’
confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible
loss of principal invested. Shares of each Fund are not FDIC-insured and are not deposits or other obligations of, or guaranteed
by, any bank. Each Fund is not a complete investment program and you may lose money investing therein. An investment in a Fund
may not be appropriate for all investors. Before investing, prospective investors should consider carefully a Fund’s investment
objective, strategies, risks, charges and expenses.
Fund distributions may include amounts from sources other
than net investment income. When that is estimated to be the case, shareholders will be notified on a monthly basis. The final
determination of the tax character of Fund distributions will occur after the end of each calendar year, at which time that determination
will be reported to shareholders. Fund distributions in any period may be more or less than the net return earned by the Fund on
investments, and therefore should not be used as a measure of performance or confused with “yield” or “income.”
Distributions in excess of Fund returns will cause a Fund’s net assets and net asset value per share to decline. Fund distributions
may be affected by numerous factors, including changes in Fund performance, the cost of leverage, portfolio holdings, realized
and projected returns, and other factors. There can be no assurance that future Board action, an unanticipated change in market
conditions or other unforeseen factors will not result in a change in the Fund’s distributions at a future time.
This announcement is not a recommendation, an offer to
purchase or a solicitation of an offer to sell shares of a Fund. The Funds have not commenced the conditional tender offers described
in this release. Each tender offer will be made only if the condition described above is satisfied, and only by an offer to purchase,
a related letter of transmittal and other documents filed with the SEC as exhibits to a tender offer statement on Schedule TO,
with all such documents available on the SEC’s website at www.sec.gov. For each tender offer, the applicable Fund will also
make available to shareholders without charge the offer to purchase and the letter of transmittal. Shareholders should read these
documents carefully, as they would contain important information about the tender offer.
In connection with the EVY Special Meeting, EVY intends
to file a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”). Shareholders are advised
to read EVY’s Special Meeting proxy statement when it is available because it will contain important information. When filed
with the SEC, the proxy statement and other documents filed by EVY will be available free of charge on the SEC website, www.sec.gov.
Copies of the EVY Special Meeting proxy statement will also be mailed to each EVY shareholder of record as of the Record Date.
This press release is for informational purposes only
and is not intended to, and does not, constitute an offer to purchase or sell shares of a Fund. Additional information about the
Funds, including performance and portfolio characteristic information, is available at eatonvance.com.
Statements in this press release that are not historical
facts may be forward-looking statements, as defined by the U.S. securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to uncertainties and other factors that may be beyond a Fund’s
control and could cause actual results to differ materially from those set forth in the forward-looking statements.
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