Nuveen municipal funds to redeem preferreds with new issue proceeds

By Susanna Moon

Chicago, April 29 - Nuveen municipal funds plans to redeem several series of preferred shares on May 3, according to three separate filings with the Securities and Exchange Commission.

Nuveen Maryland Premium Income Municipal Fund plans to redeem six series of its MuniFund term preferred shares: its 2.6% series 2015; 2.6% series 2015 No. 1; 2.65% series 2015; 2.65% series 2015 No. 1; 2.85% series 2016; and 2.9% series 2016.

Nuveen Georgia Dividend Advantage Municipal Fund 2 plans to redeem three series of its MuniFund term preferreds: 2.65% series 2015; 2.65% series 2015 No. 1; and 2.65% series 2015 No. 2.

Nuveen Pennsylvania Investment Quality Municipal Fund plans to redeem its MuniFund term preferreds, 2.10% series 2015 and 2.15% series 2015.

Each series of preferreds has a liquidation preference of $10.00 per share.

The redemption of the preferreds is conditioned on the issue of new preferreds.

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