04/23/2026 | Press release | Distributed by Public on 04/23/2026 15:09
Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-284227
LMP CAPITAL AND INCOME FUND INC.
SUPPLEMENT DATED APRIL 23, 2026 TO THE
PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 14, 2025
Portfolio Manager Updates Effective May 1, 2026
Effective as of May 1, 2026, the following supplements and, to the extent inconsistent with, supersedes the section entitled "Management of the Fund" in the Fund's Prospectus ("Prospectus") and the section entitled "Portfolio Managers" in the Fund's Statement of Additional Information ("SAI"):
Prospectus
The information contained in "Investment Management Team" in the "Management of the Fund" section of the Prospectus is removed entirely and replaced as follows:
Investment Management Team
Set forth below is information regarding the team of professionals at ClearBridge and Western Asset responsible for overseeing the day-to-day operations of the Fund.
|
Name, Address and Title |
Principal Occupation(s) During Past 5 Years |
|
|
Peter Vanderlee ClearBridge 300 S.E. 2nd Street Fort Lauderdale, FL 33301 |
Portfolio manager of the Fund and responsible for overseeing the Fund's allocation between equity and fixed income securities, as well as the Fund's equity investments in general; Managing Director and Portfolio Manager with ClearBridge Investments. Mr. Vanderlee has 23 years of investment management experience and thirteen years of related investment experience. | |
|
Patrick McElroy ClearBridge 1 Madison Avenue, 17th Floor New York, NY 10010 |
Portfolio manager of the Fund; Mr. McElroy is a Director and a Portfolio Manager of ClearBridge. Mr. McElroy joined the subadviser in 2007 and was previously a Convertible Securities Research Analyst for Palisade Capital Management, a Convertible Securities and Equities Research Analyst at Jefferies & Co., a Research Associate for Fixed Income at Standard & Poor's and prior to that, worked in Fixed Income Division Sales at Donaldson, Lufkin and Jenrette Securities. He has 31 years of investment industry experience. | |
|
Michael C. Buchanan Western Asset 385 East Colorado Blvd. Pasadena, CA 91101 |
Responsible for the day-to-day management with other members of the Fund's portfolio management team; employed by Western Asset Management as an investment professional for at least the past five years; Managing Director and head of U.S. Credit Products from 2003-2005 at Credit Suisse Asset Management. | |
|
Ryan Brist Western Asset 385 East Colorado Blvd. Pasadena, CA 91101 |
Responsible for the day-to-day management with other members of Western Asset's portfolio management team of the fixed income portion of the Fund; Head of U.S. Investment Grade Credit of Western Asset since 2009; Chief Investment Officer and Portfolio Manager at Logan Circle Partners, L.P. from 2007-2009; Co-Chief Investment Officer and Senior Portfolio Manager at Delaware Investment Advisors from 2000-2007. | |
|
Christopher F. Kilpatrick Western Asset 385 East Colorado Blvd. Pasadena, CA 91101 |
Responsible for the day-to-day management with other members of the Fund's portfolio management team; employed by Western Asset Management as an investment professional for at least the past five years. | |
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|
Name, Address and Title |
Principal Occupation(s) During Past 5 Years |
|
|
Mark Lindbloom Western Asset 385 East Colorado Blvd. Pasadena, CA 91101 |
Co-portfolio manager of the fixed income portion of the Fund; Portfolio Manager with Western Asset since 2006. Formerly, a Managing Director of Citigroup Asset Management and its predecessors from 1986-2006. | |
|
Walter Kilcullen Western Asset 385 East Colorado Blvd. Pasadena, CA 91101 |
Responsible for the day-to-day management with other members of the Fund's portfolio management team; employed by Western Asset Management as an investment professional since 2002. | |
Additional information about the portfolio managers' compensation, other accounts managed by them and other information is provided in the SAI.
SAI
The information contained in the table in the "Portfolio Managers" section of the SAI is removed entirely and replaced as follows:
Unless otherwise indicated, the information below is provided as of the date of this SAI.
The table below identifies the number of accounts (other than the Fund) for which the Fund's portfolio managers have day-to-day management responsibilities and the total assets in such accounts, within each of the following categories, as of November 30, 2025: registered investment companies, other pooled investment vehicles and other accounts. For each category, the number of accounts and total assets in the accounts where fees are based on performance is also indicated.
|
Name of PM |
Type of Account |
Number of Accounts Managed |
Total Assets |
Number of |
Assets |
|||||
|
Peter Vanderlee |
Other Registered Investment Companies | 2 |
$1.56 billion |
None |
None |
|||||
|
Other Pooled Vehicles |
3 |
$1.60 billion |
None |
None |
||||||
|
Other Accounts |
1,424 |
$500 million |
None |
None |
||||||
|
Patrick McElroy |
Other Registered Investment Companies | 2 |
$1.56 billion |
None |
None |
|||||
| Other Pooled Vehicles | 3 |
$1.60 billion |
None |
None |
||||||
| Other Accounts | 1,509 |
$550 million |
None |
None |
||||||
|
Michael C. Buchanan‡ |
Other Registered Investment Companies | 58 |
$81.65 billion |
None |
None |
|||||
| Other Pooled Vehicles | 192 |
$45.81 billion |
16 |
$2.99 billion |
||||||
| Other Accounts | 274 |
$80.14 billion |
12 |
$6.66 billion |
||||||
|
Ryan Brist‡ |
Other Registered Investment Companies | 26 |
$10.13 billion |
None |
None |
|||||
| Other Pooled Vehicles | 15 |
$13.35 billion |
None |
None |
||||||
| Other Accounts | 73 |
$31.37 billion |
4 |
$1.44 billion |
||||||
2
|
Name of PM |
Type of Account |
Number of Accounts Managed |
Total Assets |
Number of |
Assets |
|||||
|
Christoper Kilpatrick‡ |
Other Registered Investment Companies | 11 |
$4.76 billion |
None |
None |
|||||
| Other Pooled Vehicles | 7 |
$543 million |
3 |
$383 million |
||||||
| Other Accounts | 13 |
$761 million |
None |
None |
||||||
|
Mark Lindbloom‡ |
Other Registered Investment Companies | 12 |
$10.35 billion |
None |
None |
|||||
| Other Pooled Vehicles | 12 |
$2.76 billion |
None |
None |
||||||
| Other Accounts | 56 |
$20.45 billion |
None |
None |
||||||
|
Walter Kilcullen‡* |
Other Registered Investment Companies | 10 |
$3.26 billion |
None |
None |
|||||
| Other Pooled Vehicles | 13 |
$5.97 billion |
3 |
$0.38 billion |
||||||
| Other Accounts | 11 |
$1.56 billion |
None |
None |
||||||
| ‡ |
The numbers above reflect the overall number of portfolios managed by employees of Western Asset. |
| * |
The information for Mr. Kilcullen is as of March 31, 2026. |
The information contained in "Portfolio Manager Securities Ownership" in the "Portfolio Managers" section of the SAI is removed entirely and replaced as follows:
Portfolio Manager Securities Ownership
The portfolio managers held the following amounts of securities of the Fund as of November 30, 2025.
|
Portfolio Manager |
Dollar Range of Securities Beneficially Owned ($) |
|
|
Peter Vanderlee |
E | |
|
Patrick McElroy |
A | |
|
Michael C. Buchanan |
A | |
|
Ryan Brist |
A | |
|
Christopher Kilpatrick |
A | |
|
Mark Lindbloom |
A | |
|
Walter Kilcullen* |
A |
| * |
The information for Mr. Kilcullen is as of March 31, 2026. |
Dollar Range ownership is as follows:
A: none
B: $1 - $10,000
C: 10,001 - $50,000
D: $50,001 - $100,000
E: $100,001 - $500,000
F: $500,001 - $1 million
G: over $1 million
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Portfolio Manager Updates Effective September 30, 2026
Effective as of September 30, 2026, the following supplements and, to the extent inconsistent with, supersedes the section entitled "Management of the Fund" in the Prospectus and the section entitled "Portfolio Managers" in the SAI:
Prospectus
The information relating to Christopher Kilpatrick is deleted in its entirety from the "Management of the Fund" section of the Prospectus
SAI
The information relating to Christopher Kilpatrick is deleted in its entirety from the "Portfolio Managers" section of the SAI.
Capitalized terms not defined herein have the meanings assigned to them in the Prospectus.
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