Nuveen Announces Completion of New Jersey Municipal Closed-End Fund Merger Closed-End Funds

CHICAGO--()--Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the reorganization of four Nuveen New Jersey closed-end funds was completed prior to the opening of the New York Stock Exchange on November 10, 2014. As part of the previously announced reorganization, the funds have been merged as follows:

           
Acquired Fund     Symbol     Acquiring Fund     Symbol
 

• Nuveen New Jersey Investment
Quality Municipal Fund, Inc.

NQJ

 

 

Nuveen New Jersey Dividend
Advantage Municipal Fund

NXJ

• Nuveen New Jersey Premium
Income Municipal Fund, Inc.

NNJ

 

 
 

• Nuveen New Jersey Dividend
Advantage Municipal Fund 2

NUJ

               
 

In the merger, NXJ acquired substantially all of the assets and liabilities of the acquired funds NQJ, NNJ and NUJ, as set forth above, in tax-free transactions in exchange for an equal aggregate value of newly-issued common shares. The exchanges took place based upon the funds’ closing net asset values on November 7, 2014. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of the acquiring funds are listed below:

   

Fund

    Exchange Ratio
Nuveen New Jersey Investment Quality Municipal Fund, Inc.     0.98422389
Nuveen New Jersey Premium Income Municipal Fund, Inc.     1.00159044
Nuveen New Jersey Dividend Advantage Municipal Fund 2     0.98199215
 

Additionally, preferred shareholders of each acquired fund received an equivalent number of newly issued preferred shares from the acquiring fund, with substantially the same terms as their previous preferred shares.

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 independent investment subsidiaries of Nuveen Investments, Inc. Funds are distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed $231 billion as of June 30, 2014. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Contacts

Nuveen Investments
Media Contact:
Kristyna Munoz, 312-917-8343
kristyna.munoz@nuveen.com

Contacts

Nuveen Investments
Media Contact:
Kristyna Munoz, 312-917-8343
kristyna.munoz@nuveen.com