Nuveen Municipal 2021 Target Term Fund Announces Termination and Liquidation

Rhea-AI Summary

The Nuveen Municipal 2021 Target Term Fund (NYSE: NHA) has successfully completed its termination and liquidation as of March 1, 2021. The fund returned a net asset value (NAV) of $9.7100 per share to shareholders, slightly above the original NAV of $9.85. The total distribution, including a special payment made on February 12, 2021, amounted to $9.8585 per share. Over its five-year term, the fund paid regular distributions totaling $0.9359 per share, resulting in an average distribution rate of 1.86% on NAV. Shareholders may face tax implications due to the liquidation.

Positive

• Final liquidation distribution of $9.7100 per share, indicating higher than expected returns.
• Total distribution of $9.8585 per share exceeds original NAV of $9.85.
• Regular distributions over five years totaled $0.9359 per share, averaging 1.86% distribution rate on NAV.

Negative

• Shareholders may recognize a gain or loss for U.S. tax purposes due to liquidation.

The Nuveen Municipal 2021 Target Term Fund (NYSE: NHA) successfully completed its termination and liquidation following the close of business on March 1, 2021. The termination and liquidation was performed in accordance with the Fund’s investment objectives and organizational documents, consistent with the fund’s previously announced liquidation plans.

The Nuveen Municipal 2021 Target Term Fund launched on January 26, 2016 as a short duration municipal strategy, with two investment objectives, to provide high current income and return the original net asset value (NAV) of $9.85 per common share upon termination on or about March 1, 2021.

The fund is returning to shareholders an extended NAV of $9.7100 per common share as its liquidating distribution. Investors should consider the distribution declared today along with the previously announced special distribution declared on February 12, 2021 as part of the final distribution of proceeds in connection with the fund’s investment objective. The Fund’s final liquidating distribution amount is listed below.

Per share details are as follows:

Special distribution declared on February 12, 2021	$0.1485
Final liquidating distribution announced today	$9.7100
Total distribution	$9.8585

The fund distributed $0.0085 more than the original $9.85 NAV. Over its five year term, the fund paid 60 regular distributions totaling $0.9359 per share, which equates to an average distribution rate of 1.86% on NAV and 1.84% on market. The annualized total return on NAV for shareholders who invested at the initial public offering was 1.91% and the market price total return was 1.59%.

Shareholders may recognize gain or loss for U.S. tax purposes as a result of the liquidation. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.

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

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 $1.2 trillion in assets under management as of 31 Dec 2020 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 in this release 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; 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 statement.

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FAQ

What was the final distribution amount for Nuveen Municipal 2021 Target Term Fund (NHA)?

The final liquidating distribution for the Nuveen Municipal 2021 Target Term Fund was $9.7100 per share.

How much did the Nuveen Municipal 2021 Target Term Fund (NHA) distribute in total?

The total distribution was $9.8585 per share, which includes a special distribution of $0.1485 and the final liquidating distribution.

When did the termination of Nuveen Municipal 2021 Target Term Fund (NHA) occur?

The termination and liquidation of the Nuveen Municipal 2021 Target Term Fund occurred on March 1, 2021.

What was the average distribution rate for the Nuveen Municipal 2021 Target Term Fund (NHA)?

The average distribution rate for the fund was 1.86% on NAV over its five-year term.

Will there be tax implications for investors of Nuveen Municipal 2021 Target Term Fund (NHA)?

Yes, shareholders may face tax implications, potentially recognizing gain or loss due to the liquidation.