BNY Mellon U.S. Municipal Infrastructure Debt Fund USD W Inc

OBJECTIVE To provide as high a level of income as is consistent with the preservation of capital. POLICY The Fund will: – invest predominantly in a portfolio of municipal bonds issued to finance infrastructure sectors and projects in the United States of America; – invest in tender option bonds; – invest in debt and debt related securities which may be investment grade quality or sub investment grade quality (lower than BBB- at the date of purchase as rated by Standard & Poor's or equivalent rating agencies); – invest in derivatives (financial instruments whose value is derived from other assets)to help achieve the Fund's investment objective. The Fund will also use derivatives with the aim of risk or cost reduction or to generate additional capital or income; and – neither promote environmental and/or social characteristics pursuant to Article 8 of the Sustainable Finance Disclosure Regulation "SFDR" nor have sustainable investment as its objective pursuant to Article 9 of SFDR. Consequently, for the purposes of SFDR it is considered an Article 6 Fund. The Fund may: – invest in government and/or corporate debt and debt-related securities; – invest up to 10% of its net asset value in securities rated below BBat the date of purchase as rated by Standard & Poor's or equivalent rating agencies; – invest up to 10% of its net asset value in other collective investment schemes; – invest up to 10% of its net asset value in aggregate in transferable securities or money market instruments which are not admitted to or dealt in on an Eligible Market, in accordance with the UCITS Regulations; and – hold cash for the purpose of hedging or liquidity. Benchmark: The Fund will measure its performance against 50% Bloomberg Barclays U.S. Municipal Bond TR Index, 50% Bloomberg Barclays Taxable U.S. Municipal Bond TR Index (the "Benchmark"). The Fund is actively managed, which means the Investment Manager has absolute discretion to invest outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus. While the majority of the Fund's holdings are expected to be constituents of, and have similar weightings to, the Benchmark, the investment strategy does not restrict the extent to which the Investment Manager may deviate from the Benchmark. OTHER INFORMATION Treatment of income: income from investments will be paid to shareholders semi-annually on or before 11 August and 11 February. Dealing: you can buy and sell your shares in the Fund between 9:00 and 17:00 (Irish Time) on each day which is a business day in Ireland and the U.S. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is USD 15,000,000.