Nuveen Closed-End Funds Declare Pre-Merger Distributions

Rhea-AI Summary

Nuveen announces pre-merger distributions for three closed-end funds and provides details of upcoming mergers.

Positive

• Nuveen has declared pre-merger distributions for Nuveen Preferred and Income Fund (JPT), Nuveen Preferred & Income Securities Fund (JPS), and Nuveen Preferred & Income Opportunities Fund (JPC). The pre-merger distributions aim to fully distribute the acquired funds' accumulated undistributed net investment income (UNII) before the mergers. Following the mergers, JPC is expected to declare a post-closing distribution on December 1, 2023. The total per-common share dollar amount of the pre- and post-closing distributions received on December 1, 2023, will be equal to or greater than the per-common share dollar amount of the prior month's dividend.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Nuveen today announced that three Nuveen Closed-End Funds have declared pre-merger distributions. The specific distribution dates and amounts are detailed below. As previously announced, common and preferred shareholders, as applicable, of Nuveen Preferred and Income Fund (NYSE: JPT), Nuveen Preferred & Income Securities Fund (NYSE: JPS), and Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), have approved a proposal to merge the funds. The mergers will combine each of JPT and JPS into JPC. The pre-merger distribution for each fund being acquired is intended to fully distribute the acquired fund’s accumulated undistributed net investment income (UNII) prior to the closing of the mergers.

Following the mergers, JPC is expected to declare a post-closing distribution, with a record date of November 16, 2023, payable December 1, 2023. For common shareholders of each fund, the total per-common share dollar amount of the pre- and post-closing distributions received on December 1, 2023 will be equal to or greater than the per-common share dollar amount of the prior month’s dividend.

The following dates apply to today’s pre-merger distribution declarations:

Record Date	November 3, 2023
Ex-Dividend Date	November 2, 2023
Payable Date	December 1, 2023

Ticker	Exchange	Fund Name	Per Share Distribution
JPT	NYSE	Nuveen Preferred and Income Fund	$0.1115
JPS	NYSE	Nuveen Preferred & Income Securities Fund	$0.0359
JPC	NYSE	Nuveen Preferred & Income Opportunities Fund	$0.0419

Nuveen is a leading sponsor of closed-end funds (CEFs) with $53 billion of assets under management across 51 CEFs as of 30 Jun 2023. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

Financial Professionals:
800-752-8700

Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

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 $1.1 trillion in assets under management as of 30 Jun 2023 and operations in 27 countries. Its investment specialists 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.

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, including the timing of distributions and other events identified in this press release;
• legal and regulatory developments; 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 and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

EPS-3184358CR-E1023W

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024398421/en/

Financial Professionals:

800-752-8700



Investors:

800-257-8787



Media:

media-inquiries@nuveen.com

Source: Nuveen

FAQ

What are the pre-merger distributions for?

The pre-merger distributions are intended to fully distribute the acquired funds' accumulated undistributed net investment income (UNII) before the mergers.

What will happen after the mergers?

After the mergers, JPC is expected to declare a post-closing distribution on December 1, 2023.

Will the per-common share dollar amount of the distributions change?

The total per-common share dollar amount of the pre- and post-closing distributions received on December 1, 2023, will be equal to or greater than the per-common share dollar amount of the prior month's dividend.