Nuveen Announces Completion Of Preferred Securities Closed-End Fund Merger

Nuveen Investments, an operating division of TIAA Global Asset Management, today announced that the reorganization of three closed-end funds that invest in preferred securities was completed prior to the open of the New York Stock Exchange on May 9, 2016. Additionally, previously announced non-fundamental policy changes are now in effect, and the acquiring fund, Nuveen Quality Preferred Income Fund 2 has been renamed the Nuveen Preferred Securities Income Fund. The fund will continue to trade under the symbol JPS.

As part of the previously announced reorganization, the funds have been merged as follows:
Acquired Funds   Symbol   Acquiring Fund   Symbol
Nuveen Quality Preferred Income Fund   JTP   Nuveen Preferred Securities Income Fund, formerly the Nuveen Quality Preferred Income Fund 2  

JPS
Nuveen Quality Preferred Income Fund 3 JHP
         

In the merger, JPS acquired substantially all of the assets and liabilities of JTP and JHP as set forth above, in tax-free transactions in exchange for an equal aggregate value of newly-issued common shares. The exchanges took place based upon the funds' closing net asset values on May 6, 2016. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of JPS are listed below:
Fund   Exchange Ratio
Nuveen Quality Preferred Income Fund   0.93255163
Nuveen Quality Preferred Income Fund 3   0.97616317

A Q&A posted on Nuveen's web site provides a summary of the merger and the above referenced non-fundamental investment policy changes.

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of TIAA Global Asset Management's high-caliber investment managers, Nuveen is committed to providing world-class consultative services and advice that align with client needs. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen Investments website at www.nuveen.com.

16121-INV-O-05/17

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