MainStay MacKay DefinedTerm Municipal Opportunities Fund Announces Amendment to the Declaration of Trust

NEW YORK, June 10, 2022 /PRNewswire/ -- The Board of Trustees of MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE: MMD) has approved an amendment to the Fund's declaration of trust (the "Amendment") that will allow the Fund to conduct a tender offer to purchase all common shares of the Fund at a price equal to the Fund's net asset value ("NAV") per common share calculated in accordance with the Fund's valuation procedures, with the expiration date of the tender offer being as of a date within twelve months preceding December 31, 2024 (an "Eligible Tender Offer"). Currently, the Fund's scheduled termination date (the "Termination Date") is December 31, 2024. Subject to the terms outlined below, if the Tender Offer occurs and significant assets remain in the Fund following the Tender Offer, the Fund may determine to further amend the Declaration of Trust to continue as a perpetual closed-end fund.