John Hancock Preferred Income Fund II (the Fund) is a closed-end management investment company. The Fund's primary objective is to provide a high level of current income consistent with preservation of capital. The Fund's secondary objective is to provide growth of capital to the extent consistent with its primary objective. The Fund will invest at least 80% of its assets in preferred stocks and other preferred securities, including convertible preferred securities. The Fund normally will invest at least 25% of its total assets in the industries comprising the utilities sector, which includes telecommunications companies, measured at the time of purchase. It will invest at least 65% of its total assets in preferred securities or other fixed-income securities rated investment grade or higher by Moody's or Standard & Poor's at the time of investment. John Hancock Advisers, LLC serves as investment adviser for the Fund.