NEW YORK--(BUSINESS WIRE)--The Nuveen High Income December 2019 Target Term Fund (NYSE:JHD) successfully completed its termination and liquidation following the close of business on November 29, 2019. The termination and liquidation was performed in accordance with the Fund’s investment objectives and organizational documents, consistent with the fund’s previously announced liquidation plans.
The Nuveen High Income December 2019 Target Term Fund launched on May 10, 2016 as a short duration strategy that invested primarily in high yield corporate debt, with two investment objectives, to provide high current income and return the original net asset value (NAV) of $9.86 per common share upon termination on or about December 1, 2019.
The fund is returning to shareholders an extended NAV of $9.9063 per common share as its liquidating distribution, $0.0463 more than the original $9.86 NAV. Over its three year term, the fund paid 40 monthly distributions and two long-term capital gain distributions totaling $1.7198 per share, which equates to an average distribution rate of 4.90% on NAV and 4.84% on market. The annualized total return on NAV for shareholders who invested at the initial public offering was 5.02% and the market price total return was 4.63%.
Shareholders may recognize gain or loss for U.S. tax purposes as a result of the liquidation. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1 trillion in assets under management as of 30 September 2019 and operations in 24 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.