Business & Finance
Business and Finance
Business and Finance
Wed, December 17, 2008
Tue, December 16, 2008 Eight Nuveen Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Preferred Securities
CHICAGO--([ BUSINESS WIRE ])--Eight closed-end funds sponsored by Nuveen Investments, Nuveen Diversified Dividend and Income Fund (NYSE: JDD), Nuveen Multi-Strategy Income and Growth Fund (NYSE: JPC), Nuveen Multi-Strategy Income and Growth Fund 2 (NYSE: JQC), Nuveen Quality Preferred Income Fund (NYSE: JTP) Nuveen Quality Preferred Income Fund 2 (NYSE: JPS), Nuveen Quality Preferred Income Fund 3 (NYSE: JHP), Nuveen Real Estate Income Fund (NYSEALTERNEXT: JRS) and Nuveen Tax-Advantaged Total Return Strategy Fund (NYSE: JTA), today called for redemption at par a portion of their outstanding auction-rate preferred securities (ARPS). The funds' Board of Trustees has approved each redemption.
This latest round of refinancing brings the total amount of Nuveen funds' taxable ARPS redeemed to approximately $3.4 billion, or nearly 80% of the $4.3 billion in taxable Nuveen fund ARPS outstanding, beginning in February of this year.
JDD is redeeming $15 million of its currently outstanding $87 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JDD redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| T | 6706EP204 | 300 | $7,500,000 | December 31, 2008 | ||||
| W | 6706EP303 | 300 | $7,500,000 | December 31, 2008 |
JPC is redeeming $139.35 million of its currently outstanding $258 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JPC redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67073B205 | 929 | $23,225,000 | January 6, 2009 | ||||
| T | 67073B304 | 929 | $23,225,000 | December 31, 2008 | ||||
| W | 67073B403 | 929 | $23,225,000 | December 31, 2008 | ||||
| TH | 67073B502 | 929 | $23,225,000 | January 2, 2009 | ||||
| F | 67073B601 | 929 | $23,225,000 | January 5, 2009 | ||||
| F2 |
| 67073B700 | 929 | $23,225,000 | January 5, 2009 |
JQC is redeeming $159.2 million of its currently outstanding $325 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JQC redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67073D201 | 637 | $15,925,000 | January 6, 2009 | ||||
| M2 | 67073D300 | 637 | $15,925,000 | January 6, 2009 | ||||
| T | 67073D409 | 637 | $15,925,000 | December 31, 2008 | ||||
| T2 | 67073D508 | 637 | $15,925,000 | December 31, 2008 | ||||
| W | 67073D607 | 637 | $15,925,000 | December 31, 2008 | ||||
| W2 | 67073D706 | 637 | $15,925,000 | December 31, 2008 | ||||
| TH | 67073D805 | 637 | $15,925,000 | January 2, 2009 | ||||
| TH2 | 67073D888 | 637 | $15,925,000 | January 2, 2009 | ||||
| F | 67073D870 | 637 | $15,925,000 | January 5, 2009 | ||||
| F2 | 67073D862 | 637 | $15,925,000 | January 5, 2009 |
JTP is redeeming $119.125 million of its currently outstanding $184 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JTP redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67071S200 | 953 | $23,825,000 | January 6, 2009 | ||||
| T | 67071S309 | 953 | $23,825,000 | December 31, 2008 | ||||
| W | 67071S408 | 953 | $23,825,000 | December 31, 2008 | ||||
| TH | 67071S507 | 953 | $23,825,000 | January 2, 2009 | ||||
| F | 67071S606 | 953 | $23,825,000 | January 5, 2009 |
JPS is redeeming $190 million of its currently outstanding $320 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JPS redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67072C204 | 1,140 | $28,500,000 | January 6, 2009 | ||||
| T | 67072C303 | 1,140 | $28,500,000 | December 31, 2008 | ||||
| T2 | 67072C709 | 950 | $23,750,000 | December 31, 2008 | ||||
| W | 67072C402 | 1,140 | $28,500,000 | December 31, 2008 | ||||
| TH | 67072C501 | 1,140 | $28,500,000 | January 2, 2009 | ||||
| TH2 | 67072C808 | 950 | $23,750,000 | January 2, 2009 | ||||
| F | 67072C600 | 1,140 | $28,500,000 | January 5, 2009 |
JHP is redeeming $38.9 million of its currently outstanding $57 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JHP redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67072W200 | 778 | $19,450,000 | January 6, 2009 | ||||
| TH | 67072W309 | 778 | $19,450,000 | January 2, 2009 |
JRS is redeeming $25 million of its currently outstanding $62 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JRS redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 67071B207 | 197 | $4,925,000 | January 6, 2009 | ||||
| T | 67071B306 | 198 | $4,950,000 | December 31, 2008 | ||||
| W | 67071B405 | 197 | $4,925,000 | December 31, 2008 | ||||
| TH | 67071B603 | 211 | $5,275,000 | January 2, 2009 | ||||
| F | 67071B504 | 197 | $4,925,000 | January 5, 2009 |
JTA is redeeming $16.15 million of its currently outstanding $45 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JTA redemptions:
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| W | 67090H201 | 1,800 | $45,000,000 | December 31, 2008 |
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 HydePark, NWQ, Nuveen, Rittenhouse, Santa Barbara, Symphony and Tradewinds. In total, the Company managed $134 billion of assets on September 30, 2008.
