Fund Description: Oxford Lane Capital Corp., 8.25% Term Preferred Series 2031 liquidation preference $25 per share, redeemable at the issuer's option on or after 03/20/2028 at $25 per share plus accrued and unpaid dividends, and with a stated maturity of 03/30/2031. <p> Cumulative distributions of 8.25% per annum ($2.0625 per annum or $0.171875 per month) will be paid monthly on last business day of each month to holders of record on the record date fixed by the board, not more than 20 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is the record date). <p> Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders (see page S-32 of the prospectus for further information). <p> In the event that the issuer fails to maintain asset coverage of at least 200% as of the close of business on the last business day of a calendar quarter, the shares may become subject to mandatory redemption of at least a portion of the shares (see prospectus for further information) <p> This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BBB by Egan-Jones Ratings Co at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.