Nuveen today announced that the Nuveen Municipal 2021 Target Term Fund (NYSE: NHA) declared a special tax-exempt distribution.
The following dates apply to today's special distribution declaration:
February 23, 2021
February 22, 2021
February 26, 2021
Special Per Share
Nuveen Municipal 2021 Target Term Fund
As previously announced, consistent with its investment objectives and organizational documents, the fund plans to terminate its existence and liquidate on or about March 1, 2021. As the fund approaches liquidation, its common shares will continue trading on the New York Stock Exchange through February 23, 2021 and will be suspended from trading before the open of trading on February 24, 2021.
The special tax-exempt distribution declared today, together with the fund’s final liquidating distribution, should be considered as part of the fund’s objective to return the original $9.85 net asset value of the fund (Original NAV) on or about March 1, 2021.
The current net asset value (NAV) of the fund as of the close of business on February 11, 2021 was $9.86. The fund’s NAV will be reduced by the amount of the distribution declared today on the Ex-Dividend Date.
As previously announced, due to recent market conditions, NHA has increased risk associated with achieving its objective of 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.
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 31 Dec 2020 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.
The information contained on the Nuveen website is not a part of this announcement.
Nuveen Securities, LLC, member FINRA and SIPC.
FORWARD LOOKING STATEMENTS:
Certain statements made or referenced herein 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 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 investment specialists undertake no responsibility to update publicly or revise any forward-looking statements.