---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-281022"
form_type: "8-K"
ticker: "PCN"
cik: "0001160990"
company_name: "PIMCO CORPORATE & INCOME STRATEGY FUND"
filed_at: "2026-06-24T20:02:33+00:00"
generated_at: "2026-06-24T20:03:22.248145+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PIMCO Corporate & Income Strategy Fund adds loan origination, unlimited defaulted bond investing

## Summary
- Effective June 24, 2026, the Fund may invest in and originate loans—including real estate, consumer, and corporate loans—without credit criteria restrictions.
- From July 24, 2026, the Fund may invest without limit in defaulted bonds, adding high-risk distressed debt exposure.
- The supplement removes the 20% cap on below-investment-grade debt (except CCC+ or lower) and lifts prior restrictions on stressed/distressed issuers.
- Loan origination introduces risks: origination costs, broken deal costs, borrower credit risk, and potential illiquidity of loan investments.
- These strategy changes significantly broaden the Fund's risk profile, allowing investment in subprime or unrated loans.

## SEC filing metadata
- accession: 0001193125-26-281022
- form_type: 8-K
- ticker: PCN
- cik: 0001160990
- company_name: PIMCO CORPORATE & INCOME STRATEGY FUND
- filed_at: 2026-06-24T20:02:33+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1160990/000119312526281022/0001193125-26-281022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1160990/000119312526281022/d39610d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-281022
- JSON: https://secwatch.observer/filing/0001193125-26-281022.json
- Plain text: https://secwatch.observer/filing/0001193125-26-281022.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.