Three Nuveen Select Tax-Free Income portfolios announce stock offers

By Toni Weeks

San Luis Obispo, Calif., June 19 - Nuveen Select Tax-Free Income Portfolio 1, 2 and 3 announced share offerings, according to separate 497 filings with the Securities and Exchange Commission. All three are diversified, closed-end management investment companies advised by Chicago-based Nuveen Fund Advisors, LLC.

Each fund seeks to provide current income exempt from regular federal income tax, consistent with preservation of capital. The fund invests, under normal circumstances, at least 80% of its managed assets in municipal securities and other related investments, the income from which is exempt from regular federal income tax and federal alternative minimum tax (AMT). The investments are primarily investment grade.

Thomas Spalding is the portfolio manager of all three funds.

The Nuveen Select Tax-Free Income Portfolio plans to offer 1.6 million common shares. The fund's closing price (NYSE: NXP) on May 31 was $13.86.

The maximum sales charge is 4%. Total annual expenses are 0.28% and include management fees of 0.21%.

The Nuveen Select Tax-Free Income Portfolio 2 plans to offer 1.7 million shares. The fund's closing price (NYSE: NXQ) on May 31 was $13.66.

The maximum sales charge is 4%. Total annual expenses are 0.33% and include management fees of 0.26%.

The Nuveen Select Tax-Free Income Portfolio 3 plans to offer 1.3 million shares. The fund's closing price (NYSE: NXR) on May 31 was $14.19.

The maximum sales charge is 4%. Total annual expenses are 0.33% and include management fees of 0.27%.

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