Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that the Nuveen California Dividend Advantage Municipal Fund 3 (AMEX: NZH) called for redemption a portion of its outstanding auction-rate preferred securities (ARPS). The fund’s Board of Trustees has approved this redemption, which totals $26.325 million and will be funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP). NZH is redeeming $26.325 million of its $69.5 million of currently outstanding ARPS.
|Series||Cusip #||Total SharesRedeemed||Total AmountRedeemed||RedemptionDate|
|M||67070Y307||526||$13,150,000||May 6, 2011|
|TH||67070Y208||527||$13,175,000||May 4, 2011|