Two Nuveen Closed-End Funds Announce Variable Rate Demand Preferred Share Actions
26 Janvier 2017 - 10:25PM
Business Wire
Nuveen, an operating division of TIAA Global Asset Management,
today announced that Nuveen New Jersey Quality Municipal Income
Fund (NYSE: NXJ), and Nuveen Virginia Quality Municipal
Income Fund (NYSE: NPV), as part of an ongoing leverage
management process, each designated a special rate period until
January 24, 2018 for certain of their Variable Rate Demand
Preferred shares as listed below.
Fund Common Preferred
VRDP Amount Number of Share
Series Outstanding Preferred
Ticker Shares
Nuveen New Jersey Quality Municipal Income Fund NXJ
Series 1 $81,000,000 810 Nuveen Virginia Quality
Municipal Income Fund NPV Series 1
$128,000,000 1,280
Prior to the transition to the special rate period, the VRDP
shares of each series have been remarketed and sold to an
institutional investor. During the special rate period, the VRDP
shares will not be remarketed by a remarketing agent, be subject to
optional or mandatory tender events, or supported by a liquidity
provider. During this special rate period, VRDP dividends will be
set monthly at a floating rate based on a predetermined formula.
The VRDP shares are preferred securities of the fund and are
senior, with priority in all respects, to the fund’s common shares
in liquidation and as to payment of dividends.
No VRDP shares have been registered under the Securities Act of
1933 (the Securities Act) or any state securities laws. Unless so
registered, no VRDP shares may be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This press release is neither an offer to sell nor a
solicitation of an offer to buy any of these securities.
Nuveen provides investment solutions designed to help secure the
long-term goals of individual investors and the advisors who serve
them. Through the investment expertise of leading asset managers
across traditional and alternative asset classes, Nuveen is
committed to delivering consultative guidance that aligns with
client needs. Securities offered through Nuveen Securities, LLC,
Member FINRA and SIPC. Nuveen is an operating division of TIAA
Global Asset Management. For more information, please visit the
Nuveen website at www.nuveen.com.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD LOOKING STATEMENTS
Certain statements made or referenced in this release may be
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These include,
but are not limited to:
- market developments;
- legal and regulatory developments;
and
- other additional risks and
uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its
affiliates undertake no responsibility to update publicly or revise
any forward-looking statements.
This notice is being provided pursuant to Regulation FD (Fair
Disclosure) to inform each fund’s common and preferred shareholders
of the fund’s designation of a special rate period for VRDP shares
of the applicable series.
22475-INV-O-01/18
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version on businesswire.com: http://www.businesswire.com/news/home/20170126006212/en/
NuveenMedia Contact:Kristyna Munoz(312)
917-8343KRISTYNA.MUNOZ@NUVEEN.COM
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