Nuveen Announces Completion of New York Municipal Closed-End Funds Merger
June 08 2015 - 8:30AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the reorganization of three New York municipal
closed-end funds was completed prior to the open of the New York
Stock Exchange on June 8, 2015. As part of the previously announced
reorganization, the funds have been merged as follows:
Acquired Fund
Symbol Acquiring Fund
Symbol
Nuveen New York PerformancePlus Municipal
Fund, Inc.
NNP
Nuveen New York DividendAdvantage
Municipal Fund
NAN
Nuveen New York DividendAdvantage
Municipal Fund 2
NXK
In the merger, NAN acquired substantially all of the assets and
liabilities of the acquired funds NNP and NXK, 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 June 5, 2015. The exchange
ratios at which common shares of each acquired fund were exchanged
for common shares of the acquiring funds are listed below:
Fund Exchange Ratio Nuveen New York
Performance Plus Municipal Fund, Inc. 1.03045469 Nuveen New
York Dividend Advantage Municipal Fund 2 0.97814859
Additionally, preferred shareholders of each acquired fund
received an equivalent number of newly issued preferred shares from
the acquiring fund, with substantially the same terms as their
previous preferred shares.
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, LLC, Symphony Asset Management
LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset
Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital
Management, LLC and Gresham Investment Management LLC, all of which
are registered investment advisers and independent investment
subsidiaries of Nuveen Investments, Inc. Funds distributed by
Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc.
Nuveen Investments operates as a separate subsidiary within
TIAA-CREF, which is a leading provider of retirement and financial
services in the academic, research, medical and cultural fields. In
total, Nuveen Investments managed approximately $233 billion as of
March 31, 2015. For more information, please visit the Nuveen
Investments website at www.nuveen.com.
8393-INV-O-06/16
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version on businesswire.com: http://www.businesswire.com/news/home/20150608005524/en/
Nuveen InvestmentsMedia Contact:Kristyna Munoz,
312-917-8343KRISTYNA.MUNOZ@NUVEEN.COM
Nuveen New York Dividend Advantage Municipal Fund 2 Share of Beneficial Interest (delisted) (AMEX:NXK)
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