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Nuveen Closed-End Fund Reorganizations Complete

NEW YORK--(BUSINESS WIRE)--The reorganization of Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) into Nuveen Quality Municipal Income Fund (NYSE: NAD) and the reorganization of Nuveen New York Municipal Value Fund 2 (NYSE: NYV) into Nuveen New York Municipal Value Fund (NYSE: NNY) were completed prior to the open of the New York Stock Exchange on April 12, 2021.

In the reorganization, NAD acquired substantially all of the assets and liabilities of NMY in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. In the reorganization, NNY acquired substantially all of the assets and liabilities of NYV in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. NNY also completed a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. The exchange was based upon the values of the funds’ net assets as of the close of trading on April 9, 2021. The exchange ratio at which common shares of NAD were issued in exchange for the net assets for NMY and common shares of NNY were issued in exchange for net assets of NYV is listed below:

Ticker

Fund Name

Exchange Ratio

NMY

Nuveen Maryland Quality Municipal Income Fund

0.94181513

NYV

Nuveen New York Municipal Value Fund 2

1.55145189

For more information about the shareholder-approved reorganizations, 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 $1.2 trillion in assets under management as of 31 Dec 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.

EPS-1598028PR-E0421X

Contacts

Financial Professionals:
800-752-8700

Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

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NYSE:NMY
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Contacts

Financial Professionals:
800-752-8700

Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

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