CHICAGO--(BUSINESS WIRE)--Nuveen, an operating division of TIAA Global Asset Management, today announced that Nuveen Pennsylvania Investment Quality Municipal Fund (NYSE: NQP), Nuveen New Jersey Dividend Advantage Municipal Fund (NYSE: NXJ), and Nuveen Ohio Quality Income Municipal Fund (NYSE: NUO) each designated a special rate period until November 15, 2017 for certain Variable Rate Demand Preferred shares listed below.
|Fund||Common||Preferred||VRDP Amount||Number of|
|Nuveen Pennsylvania Investment Quality Municipal Fund||NQP||Series 2||$112,500,000||1,125|
|Nuveen Pennsylvania Investment Quality Municipal Fund||NQP||Series 3||$105,000,000||1,050|
|Nuveen New Jersey Dividend Advantage Municipal Fund||NXJ||Series 2||$144,300,000||1,443|
|Nuveen New Jersey Dividend Advantage Municipal Fund||NXJ||Series 3||$88,600,000||886|
|Nuveen Ohio Quality Income Municipal Fund||NUO||Series 1||$148,000,000||1,480|
In connection with the transition to the special rate period, the VRDP shares of each series have been remarketed and sold to an institutional investor. During the special rate period, the VRDP shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or supported by a liquidity provider. During this period, VRDP dividends will be set monthly at a floating rate based on a predetermined formula. The VRDP shares are preferred securities of the fund and are senior, with priority in all respects, to the fund’s common shares in liquidation and as to payment of dividends.
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 provides investment solutions designed to help secure the long-term goals of individual investors and the advisors who serve them. Through the investment expertise of leading asset managers across traditional and alternative asset classes, Nuveen is committed to delivering consultative guidance that aligns with client needs. Funds are distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen website at www.nuveen.com.
The information contained on the Nuveen website is not a part of this press release.
FORWARD LOOKING STATEMENTS
Certain statements made or referenced in this release may be 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 statements.
This notice is being provided pursuant to Regulation FD (Fair Disclosure) to ensure that the fund’s common and preferred shareholders have been informed of the fund’s issuance of Term Preferred Shares.