ATLANTA, Dec. 3, 2024
/PRNewswire/ -- Invesco Advisers, Inc., a subsidiary of
Invesco Ltd. (NYSE: IVZ), announced today that it completed the
termination and liquidation of Invesco High Income 2024 Target Term
Fund (NYSE: IHTA) (the "Fund"). In accordance with its investment
objectives and organizational documents, and previously announced
liquidation plans, the Fund terminated its existence and liquidated
on December 2, 2024 (the "Termination
Date").
The Fund launched on December 4,
2017 with the investment objectives to provide a high level
of current income and to return $9.835 per share (the original net asset value
("NAV") per common share before deducting offering costs of
$0.02 per share) ("Original NAV") to
common shareholders on or about December 1,
2024. As anticipated and previously disclosed,
the Fund's objective of returning the Original NAV to common
shareholders on or about the Termination Date was not met. The
objective to return the Fund's Original NAV was not an express or
implied guarantee obligation of the Fund and was dependent on a
number of factors.
The Fund is returning to its shareholders a NAV of $7.57 per common share as its liquidating
distribution. The Fund also paid an additional distribution of
$0.1471 per common share on the
Termination Date. Since inception, the Fund paid 83 regular
distributions totalling $3.35 per
common share, which equates to an average distribution rate of
4.93% on Original NAV and 4.85% on the public offering price. The
annualized total return on NAV for the Fund shareholders who
invested at the initial public offering was 2.12% and the total
return on market price was 1.86%.
Shareholders may recognize a gain or loss for U.S. tax purposes
as a result of the liquidation of the Fund. Invesco does not
provide tax advice; shareholders should consult a professional tax
advisor regarding their specific tax situation.
For more information, call 1-800-341-2929.
This communication is not intended to, and shall not,
constitute an offer to purchase or sell shares of any of the
Invesco Funds, including the Fund.
About Invesco Ltd.
Invesco Ltd. is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive, and alternative investment capabilities. With
offices in more than 20 countries, Invesco Ltd. managed
$1.8 trillion in assets on
behalf of clients worldwide as of September
30, 2024. For more information, visit
www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an investment
adviser; it provides investment advisory services to individual and
institutional clients and does not sell securities. Each entity is
a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund
will achieve its investment objective. Common shares are bought on
the secondary market and may trade at a discount or premium to NAV.
Regular brokerage commissions apply.
NOT A DEPOSIT l NOT FDIC INSURED l NOT
GUARANTEED BY THE BANK | MAY LOSE VALUE |
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Media Relations Contact: Matthew
Chisum,
Matthew.Chisum@invesco.com, 212-652-4368
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SOURCE Invesco Ltd.