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Nuveen Closed-End Fund Mergers Complete

November 18, 2019

NEW YORK--(BUSINESS WIRE)--Nov 18, 2019--

The reorganization of Nuveen North Carolina Quality Municipal Income Fund (NYSE: NNC) into Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) and the merger of Nuveen Connecticut Quality Municipal Income Fund (NTC) into Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) were completed prior to the open of the New York Stock Exchange on November 18, 2019.

In the reorganization of NNC into NEA, NEA acquired substantially all of the assets and liabilities of NNC in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares. In the merger of NTC into NVG, NVG acquired substantially all of the assets and liabilities of NTC in a tax-free transaction and common shares of NTC were converted to newly-issued common shares of NVG in an amount equal to the aggregate net assets of NTC. The transactions were based upon the values of the funds’ net assets as of the close of trading on November 15, 2019. The exchange ratios at which common shares of the acquired funds were exchanged for/converted to common shares of the acquiring funds are listed below:

Fund

Exchange Ratio

Nuveen North Carolina Quality Municipal Income Fund (NNC)

0.97758416

Nuveen Connecticut Quality Municipal Income Fund (NTC)

0.75494913

Additionally, preferred shareholders of each acquired fund received an equivalent number of newly issued preferred shares of the applicable acquiring fund with substantially the same terms as their previous preferred shares.

For more information about the transactions, please visit www.nuveen.com/CEF.

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 September 2019 and operations in 24 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-1014354PR-E01119

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CONTACT: Advisors:

800-752-8700Investors:

800-257-8787Media:

media-inquiries@nuveen.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Nuveen

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PUB: 11/18/2019 09:15 AM/DISC: 11/18/2019 09:15 AM

http://www.businesswire.com/news/home/20191118005456/en