Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that Nuveen California Dividend Advantage Municipal Fund 2 (AMEX: NVX) called for redemption at par all of its outstanding auction-rate preferred securities (ARPS). The fund’s Board of Trustees has approved this redemption, which totals $39.95 million and will be funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP).
NVX is redeeming all of its $39.95 million of currently outstanding ARPS.
|Series||Cusip #||Total Shares Redeemed||Total Amount Redeemed||Redemption Date|
|M||67069X203||799||$19,975,000||April 21, 2011|
|F||67069X302||799||$19,975,000||April 20, 2011|
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions, high-net-worth and affluent investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments managed $197 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.