Eleven Nuveen Municipal Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Securities.CHICAGO -- Eleven closed-end funds Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. sponsored by Nuveen Investments Nuveen Investments is a public company in the asset management industry. References http://www.nuveen.com Nuveen's Corporate Website today called for redemption at par a portion of their outstanding auction-rate preferred securities (ARPS ARPS See: Adjustable-rate preferred stock ARPS See: Auction rate preferred stock ). The funds' Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has approved each redemption, which total more than $25 million. Each of the funds will be using tender option bonds (TOBs) to finance the partial redemption Partial Redemption An investment-transaction classification that refers to the withdrawal of a portion of a security's value by the owner. Rather than withdrawing the entire amount of his or her security's value from the account, an investor may prefer to keep a portion of the of its ARPS. TOBs are floating rate securities issued by trusts into which a fund has deposited municipal securities. The funds issuing at-par redemption notices are: Insured Tax Free Advantage Municipal Fund (NEA) Insured Dividend Advantage Municipal Fund (NVG) Connecticut Premium Income Municipal Fund (NTC) Connecticut Dividend Advantage Municipal Fund (NFC) Connecticut Dividend Advantage Municipal Fund 2 (NGK) Connecticut Dividend Advantage Municipal Fund 3 (NGO) New Jersey Premium Income Municipal Fund (NNJ) New Jersey Dividend Advantage Municipal Fund (NXJ) North Carolina Premium Income Municipal Fund (NNC) Texas Quality Income Municipal Fund (NTX) Virginia Dividend Advantage Municipal Fund (NGB) For each fund having multiple auction-rate preferred share series, the fund's redemption amount will be allocated on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis among such series. The Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion (DTC DTC See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). ), the securities' holder of record, determines how each partial redemption for a particular series will be allocated among each participant broker-dealer account for that series. Each participant broker-dealer, as nominee for underlying beneficial owners Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial (street-name shareholders), in turn determines how redeemed shares are allocated among its underlying beneficial owners. The procedures used by different broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC. The tables below list the total number of shares, par amounts and scheduled redemption dates Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. for these redemptions, which are pro rata by series: NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen is redeeming $1.65 million of its $132.8 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
T > > 670657204 > > 33
$825,000
June 3, 2009
W > > 670657303 > > 33
$825,000
June 4, 2009
NVG NVG Night Vision Goggles NVG Neovascular Glaucoma NVG New Venture Gear (auto transmission) NVG Not Very Good NVG New Ventures Group is redeeming $8.15 million of its $210.8 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
M > > 67071L205 > > 111
$2,775,000
June 9, 2009
T > > 67071L304 > > 107
$2,675,000
June 3, 2009
TH > > 67071L403 > > 108
$2,700,000
June 5, 2009
NTC is redeeming $1.525 million of its $34.975 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
TH > > 67060D206 > > 61
$1,525,000
June 5, 2009
NFC NFC abbr. National Football Conference is redeeming $0.75 million of its $18.0 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
T > > 67069T202 > > 30
$750,000
June 3, 2009
NGK NGK Nederlandse Gereformeerde Kerk (Dutch Reformed Church; South Africa) NGK New Greek NGK Nihon Gaishi Kaisha (NGK Insulators, Ltd. Nagoya, Japan) is redeeming $0.675 million of its $16.125 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
W > > 67071R202 > > 27
$675,000
June 4, 2009
NGO NGO abbr. nongovernmental organization Noun 1. NGO - an organization that is not part of the local or state or federal government nongovernmental organization is redeeming $1.75 million of its $30.025 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
F > > 67071Y207 > > 70
$1,750,000
June 8, 2009
NNJ NNJ Nexus Network Journal NNJ North New Jersey NNJ Neonatal Jaundice is redeeming $2.075 million of its $91.6 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
T > > 67101N403 > > 14
$350,000
June 3, 2009
W > > 67101N304 > > 33
$825,000
June 4, 2009
TH > > 67101N205 > > 36
$900,000
June 5, 2009
NXJ is redeeming $1.1 million of its $47.025 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
T > > 67069Y201 > > 44
$1,100,000
June 3, 2009
NNC NNC NASCAR Nextel Cup (stock car racing circuit) NNC National Neighborhood Coalition NNC Naga National Council (India) NNC Neural Network Council (IEEE) is redeeming $1.65 million of its $46.8 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
TH > > 67060P209 > > 66
$1,650,000
June 5, 2009
NTX NTX N-Telopeptide Cross-Links (bone resorption marker) NTX Navy Teletypewriter Exchange NTX Nt Extended NTX Network Terminal Accelerator is redeeming $3.95 million of its $69.0 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
M > > 670983303 > > 44
$1,100,000
June 9, 2009
TH > > 670983204 > > 114
$2,850,000
June 5, 2009
NGB is redeeming $2.25 million of its $21.75 million of currently outstanding ARPS.
> > > > Total Shares
Total Amount
Redemption
Series > > Cusip # > > Redeemed
Redeemed
Date
W > > 67069M207 > > 90
$2,250,000
June 4, 2009
For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen's auction-rate preferred resource center at www.nuveen.com/arps. Nuveen Investments provides high quality investment services designed to help secure the long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Symphony, Tradewinds and Winslow Capital. In total, the Company managed $115 billion of assets on March 31, 2009. |
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