NVN Nuveen New York Select Quality Municipal Fund, Inc.

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the merger of certain Nuveen’s New York state municipal bond closed-end funds was completed prior to the opening of business on March 11, 2013.

The closed-end funds have been merged as follows:

Acquired Fund   Symbol   Acquiring Fund   Symbol Nuveen New York Quality Income Municipal Fund, Inc.   NUN  

 

 

 

Nuveen New York AMT-Free Municipal Income Fund

 

 

 

 

NRK

Nuveen New York Premium Income Municipal Fund, Inc. NNF Nuveen New York Investment Quality Municipal Fund, Inc. NQN Nuveen New York Select Quality Municipal Fund, Inc. NVN Nuveen New York Dividend Advantage Municipal Income Fund   NKO      

In the merger, NRK acquired substantially all of the assets and liabilities of the five other funds listed above in a tax-free transaction in exchange for an equal aggregate of newly-issued common shares. The exchange took place based upon the funds’ closing net asset values on March 8, 2013. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of the acquiring fund are listed below:

Fund   Exchange Ratio Nuveen New York Quality Income Municipal Fund, Inc.   1.034102 Nuveen New York Premium Income Municipal Fund, Inc. 1.046608 Nuveen New York Investment Quality Municipal Fund, Inc. 1.034630 Nuveen New York Select Quality Municipal Fund, Inc. 1.055839 Nuveen New York Dividend Advantage Municipal Income Fund   1.031876  

Additionally, Variable MuniFund Term Preferred (VMTP) and Variable Rate Demand Preferred (VRDP) shareholders of each acquired fund received an equivalent number of newly issued VMTP and VRDP shares from the acquiring fund, with substantially the same terms as their previous VMTP and VRDP 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 subsidiaries of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $219 billion as of December 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.