Tender Offer - Fidelity Multi-Strategy Credit Fund

Form Type: N-23C3A

Filing Date: 2025-05-28

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525128962

Filing Summary: On May 28, 2025, Fidelity Multi-Strategy Credit Fund issued a notification regarding a quarterly repurchase offer as per Rule 23c-3. The Fund is offering to repurchase up to 5% of its total shares, providing liquidity to shareholders since shares are not redeemable on a daily basis nor traded on a stock exchange. The offer period will run from May 28, 2025, to June 26, 2025. Shareholders can tender shares during this period and must do so through their financial intermediaries. A contingent deferred sales charge of 1.00% applies to Class C shareholders who tender shares held for less than 365 days. If total repurchase requests exceed the 5% limit, the Fund may increase the amount by up to an additional 2%. Shares will be repurchased at the net asset value (NAV) determined on June 26, 2025, and payment will occur within seven days thereafter. A major caveat is that if the repurchase offer is oversubscribed, share repurchase will occur on a pro rata basis. Furthermore, shareholders can withdraw or modify their tendering of shares until the deadline. This notice also outlines the tax implications for selling shares, reiterating that it may be treated as a taxable event.