BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (DCF)

Special Risk: An investment in the Fund involves special risk considerations, which are summarized below. The Fund is designed as a long-term investment and not as a vehicle for short-term trading purposes. An investment in the fund's Common Shares may be speculative and it involves a high degree of risk. The Fund should not constitute a complete investment program. Due to the uncertainty in all investments, there can be no assurance that the Fund will achieve its investment objectives.
No Operating History. The Fund has no operating history and its Common Shares have no history of public trading. As a result, prospective investors have no track record or history on which to base their investment decision.
Risk of Market Price Discount From Net Asset Value: Shares of closed-end funds frequently trade at a market price that is below their net asset value. This is commonly referred to as trading at a discount. This characteristic of shares of closed-end funds is a risk separate and distinct from the risk that the Fund's net asset value may decrease. Common Shareholders who sell their Common Shares within a relatively short period after completion of this public offering are likely to be exposed to this risk.
Management and Allocation Risk: The Fund's primary portfolio managers will make all determinations regarding allocations and reallocations of the Fund's Managed Assets to each Credit Strategy. The percentage allocations among Credit Strategies may, from time to time, be out of balance with the target allocations set by the fund's primary portfolio managers due to various factors, such as varying investment performance among Credit Strategies, illiquidity of certain portfolio investments or a change in the target allocations. Any rebalancing of the Fund's portfolio, whether pursuant to a fixed percentage allocation or otherwise, may have an adverse effect on the performance of the Fund and may be subject to certain additional limits and constraints.
Seven-Year Term Risk: It is anticipated that the Fund will terminate on or about December 1, 2024, subject to certain extensions described herein. As the assets of the Fund will be liquidated in connection with its termination, the Fund may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, which may cause the Fund to lose money.
Investment and Market Risk: An investment in the Fund is subject to investment risk, including the possible loss of the entire amount that you invest. Your investment in Common Shares represents an indirect investment in the credit instruments and other investments and assets owned by the Fund. The value of the Fund's portfolio securities may move up or down, sometimes rapidly and unpredictably.
Principal Risks of the Use of Derivatives: The Fund will be subject to additional risks with respect to its use of derivatives. A small investment in derivatives could have a potentially large impact on the Fund?s performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets.
Risks of Investing in Credit Instruments: Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in credit instruments and other investments with similar economic characteristics. Credit instruments are particularly susceptible to the following risks:
Issuer Risk: The market value of credit instruments may decline for a number of reasons that directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods and services.
Credit Risk: Credit risk is the risk that one or more credit instruments in the Fund's portfolio will decline in price or fail to pay interest or principal when due because the issuer of the instrument experiences a decline in its financial status.
Foreign Investment Risk: Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.
Equity Risk: Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.