-

Nuveen High Income 2020 Target Term Fund Announces Liquidation Details

NEW YORK--(BUSINESS WIRE)--The Nuveen High Income 2020 Target Term Fund (NYSE: JHY) today announced new details concerning its liquidation. Consistent with its investment objectives and organizational documents, the fund plans to terminate its existence and liquidate on or about 30 October 2020.

As the fund approaches liquidation, its common shares will continue trading on the New York Stock Exchange through 26 October 2020 and will be suspended from trading before the open of trading on 27 October 2020. The fund will not declare its regular monthly distribution in October 2020 and expects that all accumulated earnings will be included in the final liquidating distribution. The fund anticipates making its final liquidating distribution on or about 30 October 2020.

As previously announced, the fund entered its wind up period in anticipation of its termination date. Leading up to the final distribution date, as the fund’s portfolio securities continue to mature and are sold, the fund may further deviate from its investment objectives and policies, and its portfolio will continue to transition into high quality, short-term securities or cash and cash equivalents.

Also as previously announced, due to recent market conditions, JHY does not anticipate returning the Original NAV at its termination. The investment objective relating to Original NAV is not a guarantee and is dependent on a number of factors including the extent of market recovery and the cumulative level of income retained in relation to cumulative portfolio gains net of losses. Inception-to-date NAV performance through 24 September 2020 is 4.67%.

Shareholders may recognize a 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.

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds.

About Nuveen

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 June 2020 and operations in 27 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.

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, including the timing of distributions and other events identified in this press release;
  • legal and regulatory developments; and
  • other additional risks and uncertainties.

EPS-1336178PR-E0920X

Contacts

Advisors:
800-752-8700

Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

Industry:

Nuveen

NYSE:JHY
Release Versions
English

Contacts

Advisors:
800-752-8700

Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

More News From Nuveen

Nuveen Real Asset Income and Growth Fund Announces Preliminary Results of Rights Offering

CHICAGO--(BUSINESS WIRE)--Nuveen Real Asset Income and Growth Fund (NYSE: JRI) (the “Fund”) today announced the preliminary results of its transferable rights offering (the “Offer”) which expired at 5:00 p.m., Eastern time, on March 9, 2026 (the “Expiration Date”). The Offer entitled the rights holders to subscribe for an aggregate of up to an additional 7,000,000 common shares of the Fund (“Common Shares”). The Board has also approved a secondary over-subscription, whereby the Fund is authoriz...

Nuveen Covered Call Closed-End Funds Announce Shareholder Approval of Proposed Mergers

CHICAGO--(BUSINESS WIRE)--Shareholders of Nuveen S&P 500 Buy-Write Income Fund (NYSE: BXMX), Nuveen Dow 30℠ Dynamic Overwrite Fund (NYSE: DIAX), and Nuveen S&P 500 Dynamic Overwrite Fund (NYSE: SPXX) have approved a proposal to merge the funds. The mergers will combine each of BXMX and DIAX into SPXX. Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before the market opens on March 30, 2026. Each fund has declared a regula...

Nuveen Real Asset Income and Growth Fund Declares Distribution

CHICAGO--(BUSINESS WIRE)--The Nuveen Real Asset Income and Growth Fund (NYSE: JRI) has declared its regular monthly distribution with a record date of March 2, 2026, payable April 1, 2026. As previously announced, the Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common shares (par value $.01 per share) (“Common Shares”) as of February 6, 2026 (the “Record Date”). The Rights offering will expire at 5:00 p.m....
Back to Newsroom