Two Nuveen Closed-End Funds Issue Redemption Notices for Preferred Shares

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Two Nuveen Closed-End Funds Issue Redemption Notices for Preferred Shares

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that two municipal bond closed-end funds have filed with the Securities and Exchange Commission a notice of intention to redeem all of the outstanding MuniFund Term Preferred (MTP) shares for each of the funds. Additionally, one of the funds, the Nuveen Ohio Quality Income Municipal Fund (NYS: NUO) , will redeem all of its outstanding Variable Rate MuniFund Term Preferred (VMTP) shares. The redemption price will be the $10 liquidation value per MTP share, plus an additional amount representing the final accumulated distribution amounts owed and the $100,000 liquidation value per VMTP share, plus an additional amount representing the final accumulated distribution amount owed. Each fund expects to finance the MTP and VMTP share redemptions with the proceeds of newly issued Variable Rate Demand Preferred (VRDP) shares and the redemptions are contingent upon the completion of all aspects of VRDP share placement, which may not occur as planned. Official notification of the redemption will be delivered to MTP and VMTP shareholders at a later date through the Depository Trust Company (DTC). The anticipated redemption date is October 7, 2013.

The funds filing the notice are as follows:

Fund & Common Share Symbol


MTP Share Symbols





Nuveen Ohio Quality Income Municipal Fund (NUO)


NUO PrA 670980804
NUO PrC 670980606
NUO PrD 670980705


Nuveen California Dividend Advantage Municipal Fund 3 (NZH)


NZH PrA 67070Y406
NZH PrB 67070Y505
NZH PrC 67066Y501


The address of the redemption and paying agent, Computershare Inc., is as follows: 250 Royall Street, Canton, Massachusetts 02021.

The funds intend to offer VRDP shares to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act of 1933.

No VRDP shares have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no VRDP shares may be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $216 billion as of June 30, 2013. For more information, please visit the Nuveen Investments website at


Certain statements made in this release are 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:

  • the acceptance by qualified institutional buyers of, and demand for, VRDP in amounts sufficient for each fund to refinance its MTP and VMTP shares as applicable;
  • the need to obtain the agreement of all parties to the final terms of the offerings of VRDP, including the liquidity providers;
  • other 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 statement.

Nuveen Investments
Kristyna Munoz, (312) 917-8343

KEYWORDS:   United States  North America  California  Illinois  Ohio


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