NEW YORK–(BUSINESS WIRE)–The Board of Trustees for six Nuveen municipal closed-end funds approved
three merger proposals. The mergers are subject to customary conditions,
including shareholder approval. The mergers are intended to create
larger funds with lower operating expenses and increased trading volume
on the exchange for common shares.
More information on the proposed mergers will be contained in proxy
materials expected to be filed in the coming weeks. The proposed fund
mergers are as follows:
| Acquired Fund | Symbol | Acquiring Fund | Symbol | ||||||
|
Nuveen Texas Quality Municipal Income Fund |
NTX | Nuveen Quality Municipal Income Fund | NAD | ||||||
| Nuveen North Carolina Quality Municipal Income Fund | NNC | Nuveen AMT-Free Quality Municipal Income Fund | NEA | ||||||
| Nuveen Connecticut Quality Municipal Income Fund | NTC | Nuveen AMT-Free Municipal Credit Income Fund | NVG | ||||||
If shareholders approve the reorganization, Nuveen Connecticut Quality
Municipal Income Fund shareholders will receive a cash distribution
prior to the closing of the reorganization of approximately 10% of net
asset value per share.
For more general closed-end fund information and education, please visit
Nuveen’s closed-end fund website.
FORWARD-LOOKING STATEMENTS
Certain statements made herein are 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;
• the ability to satisfy conditions to the proposed mergers; and
• other additional risks and uncertainties.
You should not place undue reliance on forward-looking statements, which
speak only as of the date they are made. Nuveen and the closed-end funds
managed by Nuveen Fund Advisers and Nuveen affiliates undertake no
responsibility to update publicly or revise any forward-looking
statements.
The annual and semi-annual reports and other regulatory filings of
Nuveen closed-end funds with the Securities and Exchange Commission
(“SEC”) are accessible on the SEC’s web site at www.sec.gov
and on Nuveen’s web site at http://www.nuveen.com/cef
and may discuss the above-mentioned or other factors that affect Nuveen
closed-end funds. The information contained on the Nuveen website is not
a part of this press release.
IMPORTANT INFORMATION
In connection with the merger proposals discussed herein, the funds
expect to file with the SEC solicitation materials in the form of proxy
statements and/or joint proxy statement/prospectuses that will be
included in registration statements on Form N-14, as applicable. After
each registration statement is filed with the SEC, it may be amended or
withdrawn and the proxy statement and/or joint proxy
statement/prospectus will not be distributed to shareholders unless and
until the registration statement is declared effective by the SEC.
Investors are urged to read the solicitation materials and any other
relevant documents when they become available because they will contain
important information about the merger proposals. After they are filed,
free copies of the solicitation materials will be available on the SEC’s
web site at www.sec.gov.
This communication is for informational purposes only and is not a
solicitation of a proxy from any fund shareholder and does not
constitute an offer of any securities for sale. No offer of securities
will be made except pursuant to a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933. However, the funds, Nuveen
Fund Advisers and certain of their respective directors/trustees,
officers and affiliates may be deemed under the rules of the SEC to be
participants in the solicitation of proxies from shareholders in
connection with the merger proposals discussed herein. Information about
the trustees and officers of the funds may be found in their respective
annual reports previously filed with the SEC.
Fund shares are not guaranteed or endorsed by any bank or other insured
depository institution, and are not federally insured by the Federal
Deposit Insurance Corporation. Shares of closed-end funds are subject to
investment risks, including the possible loss of principal invested.
Past performance is no guarantee of future results. Closed-end funds
frequently trade at a discount to their net asset value.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of
outcome-focused investment solutions designed to secure the long-term
financial goals of institutional and individual investors. Nuveen has
$989 billion in assets under management as of 3/31/19 and operations in
16 countries. Its affiliates offer deep expertise across a comprehensive
range of traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this
press release.
855278-INV-AN-05/21
Contacts
Kristyna Munoz
312-917-8343
[email protected]
