SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE TO
Tender Offer Statement Under Section 14(D)(1) or 13(E)(1) of the
Securities Exchange Act Of 1934
(Amendment No. 3)

NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND

(Name of Subject Company (Issuer))

NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND

(Name of Filing Person (Issuer))

COMMON SHARES OF BENEFICIAL INTEREST, NO PAR VALUE PER SHARE

(Title of Class of Securities)

64128C106

(CUSIP Number of Class of Securities)

Robert Conti

Chief Executive Officer and President
Neuberger Berman High Yield Strategies Fund
605 Third Avenue
New York, NY 10158-0180
Telephone: (877) 628-2583

(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications on Behalf of the Person(s) Filing Statement)

With a Copy to:

Arthur C. Delibert, Esq.

K&L Gates LLP
1601 K Street, NW
Washington, DC 20006

Telephone: (202) 778-9000

Calculation of Filing Fee

Transaction Valuation		Amount of Filing Fee
$10,460,273 (a)		$583.68 (b)

(a) Calculated as the aggregate maximum purchase price to be paid for 1,225,459 shares in the offer, based upon a price of 98% of the net asset value per share of $8.71 on April 28, 2009.
(b) Calculated at $55.80 per $1,000,000 of the Transaction Valuation.

x	Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

Amount Previously Paid: $583.68	Filing Party: Neuberger Berman High Yield Strategies Fund
Form or Registration No.: Schedule TO	Date Filed: May 1, 2009

o	Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

o	third party tender offer subject to Rule 14d-1.
x	issuer tender offer subject to Rule 13e-4.
o	going-private transaction subject to Rule 13e-3.
o	amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer. x

Amendment No. 3 to Tender Offer Statement

This Amendment No. 3 hereby amends and supplements the Tender Offer Statement on Schedule TO initially filed by Neuberger Berman High Yield Strategies Fund, a Delaware statutory trust (the “Fund”), with the Securities and Exchange Commission (the "Commission") on May 1, 2009, as amended by Amendment No. 1 to Schedule TO filed with the Commission on May 4, 2009 and Amendment No. 2 to Schedule TO filed with the Commission on June 1, 2009 (as amended hereby, the “Schedule TO”). The Schedule TO relates to the Fund’s offer to purchase up to 10% of its outstanding shares of beneficial interest, no par value per share, upon the terms and subject to the conditions set forth in the Fund’s Offer to Purchase dated May 1, 2009 and the related Letter of Transmittal, copies of which have been filed as Exhibits (a)(1) and (a)(2), respectively (which, together with any amendments or supplements thereto, collectively constitute the “Offer”). Filed herewith as Exhibit (a)(7) is a copy of the press release issued by the Fund dated June 5, 2009 announcing the results of the Offer and the information contained therein is incorporated herein by reference.

Except as amended herein, the information set forth in the Offer to Purchase and the related Letter of Transmittal is incorporated herein by reference with respect to Items 1 through 9 and Item 11 of this Schedule TO.

Item 12. Exhibits

Item 12 is hereby amended to add the following exhibit.

Exhibit No.	Document
(a)(7)	Press Release issued by the Fund dated June 5, 2009.

Item 13.

Not applicable.

Signature

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

	NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND
	By:	/s/ Robert Conti
	Name:	Robert Conti
	Title:	President and Chief Executive Officer

Dated as of: June 5, 2009

Exhibit Index

Exhibit No.	Document
(a)(1)(i)	Offer to Purchase dated May 1, 2009.²
(a)(1)(ii)	Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9).²
(a)(1)(iii)	Notice of Guaranteed Delivery.²
(a)(1)(iv)	Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.¹
(a)(1)(v)	Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.²
(a)(1)(vi)	Notice of Withdrawal.¹
(a)(5)	Press Release issued by the Fund dated May 1, 2009.¹
(a)(6)	Press Release issued by the Fund dated June 1, 2009.³
(a)(7)	Press Release issued by the Fund dated June 5, 2009. (Filed herewith.)

¹	Previously filed as an exhibit to the Schedule TO filed by the Fund with the Commission on May 1, 2009.
²	Previously filed as an exhibit to Amendment No. 1 to the Schedule TO filed by the Fund with the Commission on May 4, 2009.
³	Previously filed as an exhibit to Amendment No. 2 to the Schedule TO filed by the Fund on June 1, 2009.

Neuberger Berman Management LLC

605 Third Avenue

New York, NY 10158-3698

Tel 212.476.9000

Contact:

Neuberger Berman Management LLC

Investor Information

(877) 461-1899

NEUBERGER BERMAN CLOSED-END FUNDS ANNOUNCE
FINAL RESULTS OF TENDER OFFERS

NEW YORK, June 5, 2009 — Neuberger Berman California Intermediate Municipal Fund Inc. (AMEX: NBW), Neuberger Berman Dividend Advantage Fund Inc. (AMEX: NDD), Neuberger Berman High Yield Strategies Fund (NYSE: NHS), Neuberger Berman Income Opportunity Fund Inc. (AMEX: NOX), Neuberger Berman Intermediate Municipal Fund Inc. (AMEX: NBH), Neuberger Berman New York Intermediate Municipal Fund Inc. (AMEX: NBO) and Neuberger Berman Real Estate Securities Income Fund Inc. (AMEX: NRO) (each, a “Fund” and collectively, the “Funds”) each announced today the final results of its tender offer.

The tender offers, which expired at 12:00 Midnight, New York City time on Friday, May 29, 2009 were, with the exception of NRO’s, oversubscribed. In accordance with the terms of each Fund’s Offer to Purchase, even if the tender offer is oversubscribed, the Fund will accept all shares properly tendered by shareholders holding fewer than 100 common shares that tendered all their shares and that provided appropriate certification as part of the tender (“odd-lot adjustment”). If the total number of shares tendered exceeds the number of shares a Fund offered to purchase, the Fund will purchase 10% of its outstanding common shares on a pro-rata basis, after making the odd-lot adjustment, based on the number of shares properly tendered, the “Pro-Ration Factor.” The final results of the tender offers are provided in the table below.

Fund	Number of Shares Tendered	Number of Tendered Shares to be Purchased	Pro-Ration Factor	Purchase Price (98% of NAV on Expiration Date)	Number of Outstanding Shares after Tender Offer
NBW	1,740,878	679,935	36.91%	$13.46	6,119,419
NDD	2,708,791	580,523	20.95%	$ 7.76	5,224,713
NOX	4,002,891	1,773,438	44.15%	$ 4.89	15,960,945
NBH	4,438,185	2,070,512	46.18%	$13.46	18,634,612
NHS	2,261,172	1,225,458	53.88%	$ 9.60	11,029,126
NBO	1,263,661	558,221	42.21%	$13.33	5,023,997
NRO	3,569,693	3,569,693	100.00%	$ 2.08	68,492,839

The Funds will purchase the common shares that they accepted for tender as promptly as practicable. Shareholders who have questions regarding the tender offers should contact their financial advisors, or should call Mellon Investor Services LLC, the information agent for the tender offers, at (866) 223-8669 or the Funds at (877) 461-1899.

About Neuberger Berman

Neuberger Berman Group LLC is one of the world’s largest private, independent employee-controlled asset management companies. As of May 29, 2009, assets under management were approximately $162 billion. Established in 1939, Neuberger Berman is a leader in providing a broad range of global investment solutions – equity, fixed income, and alternatives – to institutions and individuals through customized separately managed accounts, mutual funds and alternative investment products. For more information please visit our website at www.nb.com.

# # #

Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund’s investment adviser to attract or retain key employees, inability of a Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.