Nuveen Closed-End Fund Announces Intention to Redeem Preferred Shares
NEW YORK--(BUSINESS WIRE)--Nov 28, 2018--The Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) has filed with the Securities and Exchange Commission a notice of intention to redeem outstanding Variable Rate MuniFund Term Preferred Shares (VMTP). The VMTP redemption price will be the $100,000 liquidation preference per share, plus an additional amount representing the final accumulated distribution amount owed. The Fund expects to finance the VMTP share redemption with the proceeds of newly created tender option bond trusts and the redemption is contingent upon the completion of all aspects of such trust creation by the Fund, which may not occur as planned. Official notification of the redemption will be delivered to VMTP shareholders at a later date through The Depository Trust Company (DTC).
The anticipated date of redemption of the outstanding VMTP shares are as follows:
The address of the redemption and paying agent, Computershare Inc., is as follows: 250 Royall Street, Canton, Massachusetts 02021.
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 $988 billion in assets under management as of 9/30/18 and operations in 16 countries. Its affiliates 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.
FORWARD LOOKING STATEMENTS:
Certain statements made or referenced in this release may be forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:market developments, including the successful trust creation identified in this press release; legal and regulatory developments; and other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.
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CONTACT: Name Kristyna Munoz
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
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PUB: 11/28/2018 04:41 PM/DISC: 11/28/2018 04:41 PM