Nuveen Preferred and Income Term Fund Announces Shareholder Proposal
Nuveen Preferred and Income Term Fund Common Shares of Beneficial Interest (JPI)
US:NYSE Investor Relations:
nuveen.com/home/corporate/media/pressroom.aspx
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--The Board of Trustees of Nuveen Preferred and Income Term Fund (NYSE: JPI) has approved a proposal that will allow shareholders of the fund the opportunity to maintain their investment in the fund and its leveraged exposure to preferred and other income producing securities.In light of the upcoming scheduled termination of JPI on August 31, 2024, the proposal asks shareholders to vote to amend the fund’s declaration of trust to eliminate the fund’s term structure. If the amendment is approved by shareholders, the fund will conduct a tender offer for 100% of its outstanding shares at net asset value. If the fund’s common assets taking into account common shares properly tendered in the tender offer would be $70 million or greater, the tender offer will be completed and the fund’s term will be eliminated. If the fund’s common assets after the tender offer would be less than $70 million, the tender offer will be cancelled with no common shares repurchased,
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Sec Filings
- 4/24/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- 4/9/24 - Form DEFA14A
- JPI's page on the SEC website