Nuveen Investments, an operating division of TIAA Global Asset Management, today announced it has successfully completed the initial public offering of the Nuveen High Income December 2019 Target Term Fund (NYSE:JHD). The new closed-end fund’s investment objectives are to seek to provide a high level of current income and to return the original $9.86 net asset value (NAV) per common share on or about December 1, 2019. The fund will seek to achieve its investment objectives by investing primarily in shorter maturity, high-yield corporate bonds.

The fund will begin trading on the New York Stock Exchange (NYSE) today, under the symbol JHD.

The fund raised $245 million (before deduction of the sales load and offering expenses payable by the fund) in its common share offering, excluding any exercise of the underwriters’ option to purchase additional shares. If the underwriters exercise that option in full, the fund will have raised approximately $276 million.

Nuveen Fund Advisors, LLC, a subsidiary of Nuveen Investments, is the fund’s investment adviser, responsible for the fund’s overall investment strategy and its implementation, including the use of leverage. Nuveen Asset Management, an affiliate of Nuveen Investments, is the fund’s subadviser, responsible for investing the fund’s assets. The lead managers of the underwriting syndicate were Morgan Stanley, RBC Capital Markets, Stifel and Nuveen Securities.

Shares of closed-end investment companies, like the fund, usually trade on a national stock exchange. Similar to stocks, the fund’s share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value.

About Closed-End Funds

Nuveen closed-end funds have long been valued for their potential to provide attractive income. In the search for increased income opportunities, closed-end funds can be a smart choice. Because of their unique closed structure, closed-end funds can use leverage, and are generally able to invest more fully and flexibly than other types of widely available investment vehicles. Their higher yield potential can make them a powerful tool for optimizing an income portfolio.

About Nuveen Investments

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of TIAA Global Asset Management’s high-caliber investment managers, Nuveen is committed to providing world-class consultative services and advice that align with client needs. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Securities, LLC, 333 W. Wacker Drive, Chicago, IL 60606. Investors should read the prospectus carefully before they invest or send money.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted.

Key Risk Considerations:

Investment and Market Risk: An investment in Common Shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in Common Shares represents an indirect investment in the securities owned by the fund. Your Common Shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of fund dividends and distributions.

Below Investment Grade Risk: Securities of below investment grade quality are regarded as having speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal, and may be subject to higher price volatility and default risk than investment grade securities of comparable terms and duration. Issuers of lower grade securities may be highly leveraged and may not have available to them more traditional methods of financing. The prices of these lower grade securities are typically more sensitive to negative developments, such as a decline in the issuer’s revenues or a general economic downturn. The secondary market for lower-rated securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the fund’s ability to dispose of a particular security. If a below-investment-grade security goes into default, or enters bankruptcy, it might be difficult to sell that security in a timely manner at any reasonable price.

Interest Rate Risk: Generally, when market interest rates rise, bond prices fall, and vice versa. Interest rate risk is the risk that the debt securities in the fund’s portfolio will decline in value because of increases in market interest rates. As interest rates decline, issuers of debt securities may prepay principal earlier than scheduled, forcing the fund to reinvest in lower-yielding securities and potentially reducing the fund’s income. As interest rates increase, slower than expected principal payments may extend the average life of securities, potentially locking in a below-market interest rate and reducing the fund’s value. In typical market interest rate environments, the prices of longer-term debt securities generally fluctuate more than prices of shorter-term debt securities as interest rates change. These risks may be greater in the current market environment because, as of the date of the fund’s prospectus, certain interest rates are at or near historic lows. If the Federal Reserve raises the federal funds rate, there is a risk that interest rates will rise, which will likely drive down bond prices.

Derivatives Risk, including the Risk of Swaps: The fund’s use of derivatives (including swaps) involves risks different from, and possibly greater than, the risks associated with investing directly in the investments underlying the derivatives. If the fund enters into a derivative transaction, it could lose more than the principal amount invested.

For additional detailed risk information, please refer to the fund’s prospectus or visit the fund’s webpage at www.nuveen.com.

Distributions: Fund distributions are expected to be sourced entirely from net investment income.

16205-INV-O-05/17

Media Contact:Nuveen InvestmentsKristyna Munoz, 312-917-8343kristyna.munoz@nuveen.nom

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