Invesco Pennsylvania Value Municipal Income Trust (VPV) Form 4/A Invesco Pennsylvania Value Municipal Income Trust / BANK OF CANADA ROYAL ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

RBC Capital Markets, LLC

(Last) (First) (Middle)

BROOKFIELD PLACE

200 VESEY STREET

(Street)

NEW YORK NY 10281

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Invesco Pennsylvania Value Municipal Income Trust [ VPV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/05/2017

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Variable Rate Muni Term Preferred Shares	06/01/2017		J(1)		75	A	$100,000	1,376(2)(3)	D(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

RBC Capital Markets, LLC

(Last) (First) (Middle)

BROOKFIELD PLACE

200 VESEY STREET

(Street)

NEW YORK NY 10281

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

RBC Municipal Products, Inc.

(Last) (First) (Middle)

3 WORLD FINANCIAL CENTER

200 VESEY STREET

(Street)

NEW YORK NY 10281

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

ROYAL BANK OF CANADA

(Last) (First) (Middle)

ROYAL BANK PLAZA

200 BAY STREET

(Street)

TORONTO A6 M5J2J5

(City) (State) (Zip)

Explanation of Responses:

1. This statement is jointly filed by Royal Bank of Canada ("RBC"), RBC Municipal Products, LLC (the successor by conversion of RBC Municipal Products, Inc.) ("MPI") and RBC Capital Markets, LLC ("RBCCM"). RBC holds an indirect interest in the securities listed in Table I (the "Securities") by virtue of its indirect 100% ownership of its subsidiaries RBCCM and MPI.

2. The 75 Variable Rate Muni Term Preferred Shares ("VMTP Shares") acquired on June 1, 2017 were directly held by RBCCM, which is a wholly owned indirect subsidiary of RBC, and were transferred to MPI on July 3, 2017. MPI is the beneficial owner of 1,301 VMTP Shares which were previously deposited by MPI with The Bank of New York Mellon, as trustee of RBC Taxable TOB Trust, Series E-52, a Delaware trust that is a tender option bond financing trust (the "TOB") along with the 75 VMTP shares acquired by MPI which were deposited into the TOB on July 3, 2017. MPI is the beneficial owner of 1,376 VMTP Shares through its ownership of the residual certificates issued by the TOB. MPI also holds the right to dissolve the TOB, dispose of the 1,376 VMTP Shares and direct certain voting and consent rights on such VMTP Shares.

3. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Remarks:

The original Form 4 filed on June 5, 2017 is amended by this Form 4 amendment to reflect the transfer of 75 VMTP Shares on July 3, 2017 from RBCCM to MPI and then into the TOB. Exhibits Index Exhibit 99.1 - Joint Filing Agreement Exhibit 99.2 - Joint Filer Information

	/s/ John Penn 1	08/28/2017
	/s/ Joseph Huesman	08/28/2017
	/s/ John Penn 2	08/28/2017
	** Signature of Reporting Person	Date
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