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Nuveen to redeem MuniFund term preferred shares from two funds
By Tali Rackner
Norfolk, Va., March 11 - Nuveen Investments said the Nuveen New York AMT-Free Municipal Income Fund and the Nuveen Dividend Advantage Municipal Fund 3 will redeem all shares of their MuniFund term preferred shares on April 11, according to two Rule 23c-2 filings with the Securities and Exchange Commission.
The New York AMT-Free Municipal Income Fund will redeem 2,768,000 of its 2.55% series 2015 MuniFund term preferred shares at a liquidation preference of $10 per share for a total of $27.68 million.
It will also redeem 507 of its series 2014 variable-rate MuniFund term preferred shares at a liquidation preference of $100,000 per share for a total of $50.7 million.
The Dividend Advantage Municipal Fund 3 will redeem 7 million of its 2.8% series 2016 MuniFund term preferred shares at a liquidation preference of $10 per share for a total of $70 million.
It will also redeem 1,692 of its series 2014 variable-rate MuniFund term preferred shares at a liquidation preference of $100,000 per share for a total of $169.2 million.
Nuveen is a Chicago-based investment services company.
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