Nuveen Preferred & Income Closed-End Funds Announce Shareholder Approval of Proposed Mergers
- The merger of Nuveen Preferred and Income Fund (JPT), Nuveen Preferred & Income Securities Fund (JPS), and Nuveen Preferred & Income Opportunities Fund (JPC) has been approved by shareholders. The mergers will combine JPT and JPS into JPC.
- The mergers are expected to become effective before the market opens on November 6, 2023.
- None.
The monthly distributions typically declared the first business day of the month for JPT, JPS, and JPC will be replaced by pre-merger distributions declared on October 24, 2023 with a record date of November 3, 2023. The payable date will remain December 1, 2023. Following the mergers, the surviving fund, JPC, may declare a post-merger distribution, which, to the extent made, is expected to have a record date of November 16, 2023 and be payable December 1, 2023. The total per-common share dollar amount of the pre- and, to the extent made, post-merger distributions received by common shareholders of each fund on December 1, 2023 are expected to be equal to or greater than the per-common share dollar amount of the prior month’s distribution of each fund prior to the mergers.
Nuveen is a leading sponsor of closed-end funds (CEFs) with
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
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;
- 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 and its 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 www.nuveen.com/cef and may discuss the abovementioned or other factors that affect Nuveen closed-end funds. The information contained on the Nuveen website is not a part of this press release.
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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
Source: Nuveen
FAQ
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