John Sievwright - Jun 16, 2021 Form 4 Insider Report for Aberdeen Income Credit Strategies Fund (ACP)

Role: Director
Signature: /s/ Robert Hepp as attorney-in-fact for John Sievwright
Stock symbol: ACP
Transactions as of: Jun 16, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/21/2021, 12:35 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACP	Common Stock	Exercise of in-the-money or at-the-money derivative security		+2.42K	+33.33%		9.69K	Jun 16, 2021	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ACP	Transferable Subscription Right (right to buy)	Exercise of in-the-money or at-the-money derivative security		-7.27K	-100%		0	Jun 16, 2021	Common Stock	2.42K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 10, 2021, Aberdeen Income Credit Strategies Fund (the "Fund") announced the commencement of a pro rata offering (the "Rights Offering") of transferable rights (the "Rights") to holders of the Fund's common shares, as of the record date of May 20, 2021 ("Record Date Shareholder"), entitling the holders of such rights to subscribe for up to an aggregate of 5,812,247 of the Fund's common shares. Record Date Shareholders received one Right for each outstanding whole common share held on the record date. The Rights entitled their holders to purchase one new common share for every three Rights held. The subscription price per common share was $10.20 and was fixed as of the close of the subscription period on June 16, 2021 (the "basic subscription privilege"). The Rights Offering also includes an oversubscription privilege, (continued in footnote 2)
F2	which entitled holders who fully exercised their basic subscription privilege the right to purchase, at a price of $10.20 per common share, additional common shares of the Fund, subject to availability and pro rata allocation of shares among Record Date Shareholders exercising such oversubscription privilege. The reporting person exercised his basic subscription right in full, but did not exercise the oversubscription privilege. The subscription rights expired on June 16, 2021 at 5:00 p.m. Eastern time.

Content

On May 10, 2021, Aberdeen Income Credit Strategies Fund (the "Fund") announced the commencement of a pro rata offering (the "Rights Offering") of transferable rights (the "Rights") to holders of the Fund's common shares, as of the record date of May 20, 2021 ("Record Date Shareholder"), entitling the holders of such rights to subscribe for up to an aggregate of 5,812,247 of the Fund's common shares. Record Date Shareholders received one Right for each outstanding whole common share held on the record date. The Rights entitled their holders to purchase one new common share for every three Rights held. The subscription price per common share was $10.20 and was fixed as of the close of the subscription period on June 16, 2021 (the "basic subscription privilege"). The Rights Offering also includes an oversubscription privilege, (continued in footnote 2)

which entitled holders who fully exercised their basic subscription privilege the right to purchase, at a price of $10.20 per common share, additional common shares of the Fund, subject to availability and pro rata allocation of shares among Record Date Shareholders exercising such oversubscription privilege. The reporting person exercised his basic subscription right in full, but did not exercise the oversubscription privilege. The subscription rights expired on June 16, 2021 at 5:00 p.m. Eastern time.