Seven Nuveen Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Preferred Securities
December 17 2010 - 9:25AM
Business Wire
Seven closed-end funds sponsored by Nuveen Investments this week
called for redemption at par all of their outstanding auction-rate
preferred securities (ARPS). The funds’ Board of Trustees has
approved each redemption, which total $525.35 million. The Nuveen
New York Dividend Advantage Municipal Fund (NYSE: NAN);
Nuveen North Carolina Premium Income Municipal Fund (NYSE:
NNC); and Nuveen Connecticut Premium Income Municipal Fund
(NYSE: NTC) redemptions have been funded by proceeds
received from the issuance of MuniFund Term Preferred Shares (MTP).
The Nuveen New York Quality Income Municipal Fund, Inc. (NYSE:
NUN); Nuveen Premier Insured Municipal Income Fund, Inc.
(NYSE: NIF); Nuveen California Investment Quality Municipal
Fund, Inc. (NYSE: NQC); and Nuveen California Performance
Plus Municipal Fund, Inc. (NYSE: NCP) redemptions were
achieved through the issuance of Variable Rate Demand Preferred
shares (VDRPs).
NAN is redeeming all of its $21.9 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate F 67066X206 876
$21,900,000 January 6, 2011
NNC is redeeming all of its $21.55 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate TH 67060P209 862
$21,550,000 January 5, 2011
NTC is redeeming all of its $15.725 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate TH 67060D206 629
$15,725,000 January 5, 2011
NIF is redeeming all of its $130.125 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate W 670987403 678
$16,950,000 January 11, 2011 TH 670987205
2,263 $56,575,000 January 12, 2011 F
670987304 2,264 $56,600,000 January 6, 2011
NQC is redeeming all of its $94.925 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate
M 67062A200 3,051 $76,275,000 January
7, 2011 W 67062A309 746 $18,650,000
January 11, 2011
NCP is redeeming all of its $80.35 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate
T 67062Q205 1,357 $33,925,000 January
10, 2011 W 67062Q403 500 $12,500,000
January 11, 2011 F 67062Q304 1,357 $33,925,000
January 6, 2011
NUN is redeeming all of its $160.775 million of currently
outstanding ARPS.
Series Cusip
#
Total SharesRedeemed
Total AmountRedeemed
RedemptionDate
M 670986306 1,794 $44,850,000 January
7, 2011 W 670986405 1,796 $44,900,000
January 11, 2011 TH 670986207 1,959
$48,975,000 January 12, 2011 F 670986504 882
$22,050,000 January 6, 2011
For more information about Nuveen closed-end funds, visit
www.nuveen.com/cef. ARPS information and updates are posted on
Nuveen’s auction-rate preferred resource center at
www.nuveen.com/arps.
Nuveen Investments provides high quality investment services
designed to help secure the long-term goals of institutions and
high net worth investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets its growing
range of specialized investment solutions under the high-quality
brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow
Capital and Nuveen HydePark. In total, the Company managed nearly
$163 billion as of September 30, 2010. For more information, please
visit the Nuveen Investments website at www.nuveen.com.
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