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Seven Nuveen Closed-End Funds Issue At-Par Redemption Notices For Auction-Rate Preferred Securities

Seven closed-end funds sponsored by Nuveen Investments this week called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved each redemption, which total $525.35 million. The Nuveen New York Dividend Advantage Municipal Fund (NYSE: NAN); Nuveen North Carolina Premium Income Municipal Fund (NYSE: NNC); and Nuveen Connecticut Premium Income Municipal Fund (NYSE: NTC) redemptions have been funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP). The Nuveen New York Quality Income Municipal Fund, Inc. (NYSE: NUN); Nuveen Premier Insured Municipal Income Fund, Inc. (NYSE: NIF); Nuveen California Investment Quality Municipal Fund, Inc. (NYSE: NQC); and Nuveen California Performance Plus Municipal Fund, Inc. (NYSE: NCP) redemptions were achieved through the issuance of Variable Rate Demand Preferred shares (VDRPs).

NAN is redeeming all of its $21.9 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

  Redemption Date
F   67066X206   876   $21,900,000   January 6, 2011
 

NNC is redeeming all of its $21.55 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

  Redemption Date
TH   67060P209   862   $21,550,000   January 5, 2011
 

NTC is redeeming all of its $15.725 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

  Redemption Date
TH   67060D206   629   $15,725,000   January 5, 2011
 

NIF is redeeming all of its $130.125 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

  Redemption Date
W   670987403   678   $16,950,000   January 11, 2011
TH   670987205   2,263   $56,575,000   January 12, 2011
F   670987304   2,264   $56,600,000   January 6, 2011
 

NQC is redeeming all of its $94.925 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

 

Redemption Date

M   67062A200   3,051   $76,275,000   January 7, 2011
W   67062A309   746   $18,650,000   January 11, 2011
 

NCP is redeeming all of its $80.35 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

 

Redemption Date

T   67062Q205   1,357   $33,925,000   January 10, 2011
W   67062Q403   500   $12,500,000   January 11, 2011
F   67062Q304   1,357   $33,925,000   January 6, 2011
 

NUN is redeeming all of its $160.775 million of currently outstanding ARPS.

         
Series   Cusip #  

Total Shares Redeemed

 

Total Amount Redeemed

 

Redemption Date

M   670986306   1,794   $44,850,000   January 7, 2011
W   670986405   1,796   $44,900,000   January 11, 2011
TH   670986207   1,959   $48,975,000   January 12, 2011
F   670986504   882   $22,050,000   January 6, 2011
 

For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen’s auction-rate preferred resource center at www.nuveen.com/arps.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed nearly $163 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.



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