NEW YORK–(COMMERCIAL THREAD)–The Nuveen Corporate Income November 2021 Target Term Fund (NYSE: JHB) today announced new details regarding its liquidation. In accordance with its investment objectives and organizational documents, the fund plans to end its existence and liquidate on or around November 1, 2021.
As the fund nears liquidation, its common shares will continue to trade on the New York Stock Exchange until October 26, 2021 and will be suspended from trading until trading begins on October 27, 2021. The fund will not report not its regular monthly distribution in October 2021. and expects all accrued profits to be included in the final liquidation distribution. The fund expects to make its final liquidation distribution on or around November 1, 2021.
As previously announced, the fund has entered its liquidation period in anticipation of its termination date. Until the final distribution date, as the securities in the fund’s portfolio mature and are sold, the fund may deviate further from its investment objectives and policies, and its portfolio will continue to transform. in short-term, high-quality securities or in cash and cash equivalents.
In addition, as previously announced, due to recent market conditions, JHB does not plan to return the original NAV upon termination. The investment objective relative to the original NAV is not a guarantee and depends on a number of factors, including the extent of the market rally and the cumulative level of income withheld relative to gains. cumulative portfolio net of losses.
Shareholders may recognize a gain or loss for US tax purposes as a result of the liquidation. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their particular tax situation.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $ 65 billion in assets under management in 62 CEFs as of June 30, 2021. The funds provide exposure to a wide range of asset classes and are designed for income-oriented investors looking for spreads. Nuveen has over 30 years of experience in managing CEF.
For more information, please visit the Nuveen CEF homepage www.nuveen.com/closed-end-funds.
Nuveen, TIAA’s investment manager, offers a comprehensive suite of results-driven investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $ 1.2 trillion in assets under management as of June 30, 2021 and operations in 27 countries. Its investment specialists offer in-depth expertise in a full range of traditional and alternative investments through a wide range of vehicles and personalized strategies. For more information, please visit www.nuveen.com.
Nuveen Securities, LLC, member of FINRA and SIPC.
The information contained on the Nuveen site is not part of this press release.
Certain statements made or referenced in this press release may be forward-looking statements. Actual future results or events may differ materially from those anticipated in forward-looking statements due to many factors. These include, but are not limited to:
market developments, including the timing of distributions and other events identified in this press release;
legal and regulatory developments; and
other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates assume no responsibility to publicly update or revise any forward-looking statements.