The fund intends to make regular monthly distributions to its shareholders based on its past and projected performance. Among other factors, the fund will seek to establish a distribution rate that roughly corresponds to NCAM’s projections of the total return that could reasonably be expected to be generated by the fund over an extended period of time. Investors should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate. As market conditions and portfolio performance may change, the rate of distributions on the shares and the fund’s distribution policy could change.Because the fund expects to be classified as a partnership for tax purposes, shareholders will be allocated their pro-rata share of the fund’s income, gains, losses, deductions and credits for purposes of computing their tax liability. Fund shareholders will receive a Schedule K-1 which reports their allocable portion of such tax items. Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual 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—Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $220 billion as of September 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.