Nuveen Corporate Income November 2021 Target Term Fund Announces Liquidation Details
21 September 2021 - 6:30AM
Business Wire
The Nuveen Corporate Income November 2021 Target Term Fund
(NYSE: JHB) today announced new details concerning its liquidation.
Consistent with its investment objectives and organizational
documents, the fund plans to terminate its existence and liquidate
on or about 1 November 2021.
As the fund approaches liquidation, its common shares will
continue trading on the New York Stock Exchange through 26 October
2021 and will be suspended from trading before the open of trading
on 27 October 2021. The fund will not declare its regular monthly
distribution in October 2021 and expects that all accumulated
earnings will be included in the final liquidating distribution.
The fund anticipates making its final liquidating distribution on
or about 1 November 2021.
As previously announced, the fund entered its wind up period in
anticipation of its termination date. Leading up to the final
distribution date, as the fund’s portfolio securities continue to
mature and are sold, the fund may further deviate from its
investment objectives and policies, and its portfolio will continue
to transition into high quality, short-term securities or cash and
cash equivalents.
Also as previously announced, due to recent market conditions,
JHB does not anticipate returning the Original NAV at its
termination. The investment objective relating to Original NAV is
not a guarantee and is dependent on a number of factors including
the extent of market recovery and the cumulative level of income
retained in relation to cumulative portfolio gains net of
losses.
Shareholders may recognize a gain or loss for U.S. tax purposes
as a result of the liquidation. Nuveen does not provide tax advice;
investors should consult a professional tax advisor regarding their
specific tax situation.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $65
billion of assets under management across 62 CEFs as of 30 June
2021. The funds offer exposure to a broad range of asset classes
and are designed for income-focused investors seeking regular
distributions. Nuveen has more than 30 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused 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 30 June 2021 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made or referenced in this release may be
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous 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 undertake no responsibility to update publicly or revise
any forward-looking statement.
EPS-1837136PR-E0921X
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