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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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:
| Series | Cusip # | Total Shares Redeemed | Total Amount Redeemed | Redemption 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.
MEDIA CONTACT:
Kathleen Cardoza
312-917-7813
kathleen.cardoza@nuveen.com
or
Kristyna Sujata
312-917-8343
kristyna.sujata@nuveen.com