Nuveen to Complete Refinancing of Taxable Closed-End Fund ARPS

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the remaining portion of the outstanding auction-rate preferred shares (ARPS) of its equity and corporate debt closed-end funds will be redeemed. This final portion of outstanding ARPS totals approximately $750 million. The funds have been granted temporary exemptive relief from Section 18 of the Investment Company Act of 1940 (’40 Act) from the Securities and Exchange Commission (SEC). This relief will permit the funds to temporarily operate with reduced asset coverage levels for the debt used to refinance these remaining ARPS.

The funds issuing at-par redemption notices are:

JDD Nuveen Diversified Dividend & Income Fund
JPC Nuveen Multi-Strategy Income & Growth Fund
JQC Nuveen Multi-Strategy Income & Growth Fund 2
JTP Nuveen Quality Preferred Income Fund
JPS Nuveen Quality Preferred Income Fund 2
JHP Nuveen Quality Preferred Income Fund 3
JRS Nuveen Real Estate Income Fund
JTA Nuveen Tax-Advantaged Total Return Strategy Fund
NSL Nuveen Senior Income Fund
JFR Nuveen Floating Rate Income Fund
JRO Nuveen Floating Rate Income Opportunity Fund

Once completed, this additional $750 million redemption will finish the refinancing of all remaining Nuveen equity and corporate debt closed-end fund ARPS.

“We are very pleased to announce that we have made the necessary steps so that our taxable closed-end funds can complete the final refinancing of all of their outstanding ARPS,” said Bill Adams, Executive Vice President, Nuveen Investments. “Further, we want to remind our closed-end fund investors that we continue to move forward and remain committed to refinancing all of our outstanding ARPS issued by our municipal bond closed-end funds.”

The tables below list the total number of shares, par amounts and scheduled redemption dates for these redemptions.

JTA is redeeming all of its currently outstanding $28.85 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JTA redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
W 67090H201 1,154 $28,850,000 September 17, 2009

JRS is redeeming all of its currently outstanding $17 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JRS redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67071B207 135 $3,375,000 September 22, 2009
T 67071B306 134 $3,350,000 September 23, 2009
W 67071B405 134 $3,350,000 September 17, 2009
TH 67071B603 143 $3,575,000 September 18, 2009
F 67071B504 134 $3,350,000 September 21, 2009

JDD is redeeming all of its currently outstanding $15 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JDD redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
T 6706EP204 300 $7,500,000 September 23, 2009
W 6706EP303 300 $7,500,000 September 17, 2009

JPC is redeeming all of its currently outstanding $118.65 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JPC redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67073B205 791 $19,775,000 September 22, 2009
T 67073B304 791 $19,775,000 September 23, 2009
W 67073B403 791 $19,775,000 September 17, 2009
TH 67073B502 791 $19,775,000 September 18, 2009
F 67073B601 791 $19,775,000 September 21, 2009
F2 67073B700 791 $19,775,000 September 21, 2009

JQC is redeeming all of its currently outstanding $165.8 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JQC redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67073D201 663 $16,575,000 September 22, 2009
M2 67073D300 663 $16,575,000 September 22, 2009
T 67073D409 663 $16,575,000 September 23, 2009
T2 67073D508 663 $16,575,000 September 23, 2009
W 67073D607 663 $16,575,000 September 17, 2009
W2 67073D706 664 $16,600,000 September 17, 2009
TH 67073D805 664 $16,600,000 September 18, 2009
TH2 67073D888 663 $16,575,000 September 18, 2009
F 67073D870 663 $16,575,000 September 21, 2009
F2 67073D862 663 $16,575,000 September 21, 2009

JTP is redeeming all of its currently outstanding $64.875 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JTP redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67071S200 519 $12,975,000 September 22, 2009
T 67071S309 519 $12,975,000 September 23, 2009
W 67071S408 519 $12,975,000 September 17, 2009
TH 67071S507 519 $12,975,000 September 18, 2009
F 67071S606 519 $12,975,000 September 21, 2009

JPS is redeeming all of its currently outstanding $130 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JPS redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67072C204 780 $19,500,000 September 22, 2009
T 67072C303 780 $19,500,000 September 23, 2009
T2 67072C709 650 $16,250,000 September 23, 2009
W 67072C402 780 $19,500,000 September 17, 2009
TH 67072C501 780 $19,500,000 September 18, 2009
TH2 67072C808 650 $16,250,000 September 18, 2009
F 67072C600 780 $19,500,000 September 21, 2009

JHP is redeeming all of its currently outstanding $18.1 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JHP redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67072W200 362 $9,050,000 September 22, 2009
TH 67072W309 362 $9,050,000 September 18, 2009

JFR is redeeming all of its currently outstanding $105 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JFR redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 67072T207 1,050 $26,250,000 September 22, 2009
T 67072T306 1,050 $26,250,000 September 23, 2009
W 67072T405 1,050 $26,250,000 September 17, 2009
F 67072T504 1,050 $26,250,000 September 21, 2009

JRO is redeeming all of its currently outstanding $60 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JRO redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
M 6706EN209 800 $20,000,000 September 22, 2009
TH 6706EN308 800 $20,000,000 September 18, 2009
F 6706EN407 800 $20,000,000 September 21, 2009

NSL is redeeming all of its currently outstanding $26 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for NSL redemptions:

SeriesCusip #Total Shares RedeemedTotal Amount RedeemedRedemption
Date
TH 67067Y203 1,040 $26,000,000 October 9, 2009

For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen’s auction-rate preferred resource center at www.nuveen.com/arps.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $128 billion of assets on June 30, 2009.

Contacts:

Nuveen Investments
MEDIA CONTACT:
Kathleen Cardoza
312-917-7813
kathleen.cardoza@nuveen.com
or
Kristyna Sujata
312-917-8343
kristyna.sujata@nuveen.com
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here