MainStay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distributions for the Mo

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MainStay DefinedTerm Municipal Opportunities Fund Declares Monthly Dividend Distributions for the Months of October, November and December

Next Shareholder Conference Call on October 8, 2013 at 4:15pm ET

NEW YORK--(BUSINESS WIRE)-- MainStay DefinedTerm Municipal Opportunities Fund (the "Fund") (NYS: MMD) today announced monthly dividend distributions of $0.096 per common share for the months of October, November and December 2013. This amount represents an increase from the Fund's September dividend distribution which was $0.0958 per common share. The announcement of any year-end ordinary income and/or capital gains distributions would occur on or about December 2, 2013, and would be additive to the December income distribution.


The Fund is also pleased to announce that it will host its next shareholder conference call on October 8, 2013 at 4:15pm ET. The call is open to the public and will be led by Robert DiMella, the Fund's Co-Portfolio Manager and Co-Head of the MacKay Municipal Managers™ team at MacKay Shields LLC. In addition to providing an update on the Fund, Mr. DiMella will discuss his team's latest market insights and where they're finding opportunities, which can be found here: https://www.mackayshields.com/images/pdf/Insights_Muni_Sept2013.pdf.

Details for the call are as follows:

Call Date:  Tuesday, October 8, 2013
Call Time:4:15pm Eastern Time
Call Number:(877) 648-7974
Call ID:65240912
 

Replay Number:

(855) 859-2056

Replay ID:65240912
 

Please note that a replay of the call will be available for two months, beginning on or before Wednesday, October 16, 2013. A written summary of the call will be available at www.mainstayinvestments.com/mmd.

Shareholders are invited to submit questions in advance of the call by sending an email to product_management@nylim.com.

Please be advised that the next Shareholder Conference Call will be held on Tuesday, January 14, 2014.

Dividend Distribution Schedule:

        

Month

 

  

Ex-Date

 

  

Record Date

 

  

Payable Date

 

  

Amount1

 

October  10/10/2013  10/15/2013  10/31/2013  $0.096
November  11/13/2013  11/15/2013  11/29/2013  $0.096

December2

  12/12/2013  12/16/2013  12/31/2013  $0.096
 

The Fund's daily New York Stock Exchange closing prices, net asset values per share, as well as other information, are available at www.mainstayinvestments.com/mmd or by calling the Fund's shareholder servicing agent at (855) 456-9683.

To subscribe to the Weekly MainStay Muni Monitor to receive weekly perspectives from MacKay Municipal Managers™ go to mainstayinvestments.com/munis and enter your e-mail address.

About MainStay Investments

With over $80 billion in assets under management as of July 31, 2013, MainStay Investments is the mutual fund distribution arm of New York Life. MainStay provides financial advisors access to a powerful mix of autonomous, institutional investment managers, delivered by people who understand the needs of today's financial advisor. As an indirect subsidiary of New York Life Insurance Company, a Fortune 100 company founded in 1845, MainStay is owned by the largest mutual life insurance company in the United States* and one of the largest life insurers in the world.

About MacKay Shields LLC

MacKay Shields LLC ("MacKay") serves as the Fund's investment sub-advisor. MacKay is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC. MacKay is a multi product investment management firm with approximately $76 billion in assets as of July 31, 2013. MacKay manages a number of fixed income strategies for institutional clients and retail mutual funds, including: high yield, high yield active core, core plus, global fixed income, municipal and investment grade. MacKay also manages a convertible strategy.

Past performance is no assurance of future results.Investment return and market value of an investment in the Fund will fluctuate.Shares, when sold, may be worth more or less than their original cost.

A portion of the Fund's income may be subject to state and local taxes or the alternative income tax. The Fund may invest in derivatives, which may increase the volatility of the Fund's net asset value and may result in a loss to the Fund. Funds that invest in bonds are subject to credit (default) and interest-rate risk and can lose principal value when interest rates rise. The Fund uses leverage, which will magnify the Fund's investment, market, and certain other risks.

This material may include statements that constitute "forward-looking statements" under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates and information about possible or future results or events related to the Fund, market or regulatory developments. The information expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the information expressed herein. The information expressed herein are subject to change at any time based upon economic, market, or other conditions and the Fund undertakes no obligation to update the information expressed herein.

1 Derived from undistributed net income.
2 December dividend may be higher due to a possible cap gain distribution - The Fund's annual capital gain distribution, if any, will be announced on or about December 2, 2013.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, May 20, 2013.



New York Life
Media:
Allison Scott, 212-576-4517
allison_scott@nylim.com
or
Investor:
855-456-9683

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

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