Three Nuveen Closed-End Funds Issue Redemption Notices for MuniFund Term
CHICAGO -- August 7, 2013
Nuveen Investments, a leading global provider of investment services to
institutions as well as individual investors, today announced that three
municipal bond closed-end funds have filed with the Securities and Exchange
Commission a notice of intention to redeem all of the outstanding MuniFund
Term Preferred (MTP) shares for each of the funds. The redemption price will
be the $10.00 liquidation value per MTP share, plus an additional amount
representing the final accumulated distribution amounts owed. Each fund
expects to finance the MTP share redemptions with the proceeds of newly issued
Variable Rate Demand Preferred (VRDP) shares and the redemptions are
contingent upon the completion of all aspects of VRDP share placement, which
may not occur as planned. Official notification of the redemption will be
delivered to MTP shareholders at a later date through the Depository Trust
Company (DTC). The anticipated redemption date is September 9, 2013.
The funds filing the notice are as follows:
Fund MTP Share MTP CUSIPs Common Share
Nuveen California Dividend NVX PrA, NVX 67069X500
Advantage Municipal Fund 2 PrC NVX
Nuveen New Jersey Dividend NXJ PrA NXJ PrA NXJ
Advantage Municipal Fund 67069Y300
Nuveen Virginia Premium NPV PrA, NPV 67064R409
Income Municipal Fund PrC, NPV PrD, NPV
NPV PrE NPV PrD
The address of the redemption and paying agent, Computershare Inc., is as
follows: 250 Royall Street, Canton, Massachusetts 02021.
The funds intend to offer VRDP shares to qualified institutional buyers in a
private offering pursuant to Rule 144A of the Securities Act of 1933.
No VRDP shares have been registered under the Securities Act of 1933 (the
Securities Act) or any state securities laws. Unless so registered, no VRDP
shares may be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act and
applicable state securities laws. This press release is neither an offer to
sell nor a solicitation of an offer to buy any of these securities.
Nuveen Investments provides high-quality investment services designed to help
secure the long-term goals of institutional and individual investors as well
as the consultants and financial advisors who serve them. Nuveen Investments
markets a wide range of specialized investment solutions which provide
investors access to capabilities of its high-quality boutique investment
affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ
Investment Management Company, LLC, Santa Barbara Asset Management, LLC,
Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham
Investment Management LLC, all of which are registered investment advisers and
subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen
Securities, LLC., a subsidiary of Nuveen Investments, Inc. In total, Nuveen
Investments managed approximately $224 billion as of March 31, 2013. For more
information, please visit the Nuveen Investments website at www.nuveen.com.
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:
*the acceptance by qualified institutional buyers of, and demand for, VRDP
in amounts sufficient for each fund to refinance its MTP shares;
*the need to obtain the agreement of all parties to the final terms of the
offerings of VRDP, including the liquidity providers;
*other 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.
Kristyna Munoz, (312) 917-8343
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