NEW YORK–(BUSINESS WIRE)–Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) and Nuveen
AMT-Free Municipal Credit Income Fund (NYSE: NVG) have each filed with
the Securities and Exchange Commission a notice of intention to redeem a
portion of the respective Fund’s outstanding MuniFund Preferred shares.
The MuniFund Preferred share redemption price will be the $100,000
liquidation preference per share, plus an additional amount representing
the final accumulated dividend amounts owed. The Funds expect to finance
the MuniFund Preferred share redemptions with the proceeds of newly
issued preferred shares and cash on hand, and the redemptions are
contingent upon the completion of all aspects of such preferred share
placements by the respective Funds, which may not occur as planned.
Formal notification of the redemption by each Fund will be delivered to
MuniFund Preferred shareholders at a later date through The Depository
Trust Company (DTC).
The anticipated date of redemption of MuniFund Preferred shares and
maximum number of shares expected to be redeemed are as follows:
|Fund & Common Share Symbol||Series||Share||MuniFund||Anticipated|
|Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA)||Series B||Up to 2,000||670657816||3/12/2019|
|Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG)||Series A||Up to 2,000||67071L833||3/12/2019|
The address of the calculation and paying agent, The Bank of New York
Mellon, is 240 Greenwich Street, 7E, New York, New York 10007.
Investors in each Fund should consider the investment objectives, risks,
and charges and expenses of the respective Fund carefully before
investing; a prospectus relating to any offering of new preferred shares
as referred to above will contain this and other information about the
respective Fund; the prospectus will be available from the underwriter
or underwriters of such offering; and each prospectus should be read
carefully before investing.
This press release does not constitute an offer to sell or a
solicitation to buy any of the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in
which such offer or solicitation or sale would be unlawful prior to
registration or qualification under the laws of such state or
A registration statement relating to the new preferred shares proposed
to be issued and other securities of each Fund was filed with the
Securities and Exchange Commission. Each Fund may not sell the new
preferred shares until the registration statement filed with the
Securities and Exchange Commission is effective.
The MuniFund Preferred shares intended for redemption have not been
registered under the Securities Act of 1933 or any state securities
laws, and, unless so registered, may not be offered or sold in the
United States except pursuant to an exemption from the registration
requirements of the Securities Act of 1933 and applicable state
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
$930 billion in assets under management as of 12/31/18 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
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
market developments, including the successful sale of new preferred
securities by the respective Funds;
the respective Funds having the cash on hand or generating enough
proceeds from the sale of portfolio securities sufficient, together
with the net proceeds of any offering of new preferred shares, to
redeem a portion of its outstanding MuniFund Preferred shares;
- 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