Nuveen California to redeem $43.18 million of auction-rate preferreds

By Toni Weeks

San Diego, June 6 - Nuveen California Dividend Advantage Municipal Fund 3 will redeem its outstanding series M and TH municipal auction-rate cumulative preferred securities, according to a filing with the Securities and Exchange Commission.

Each of the 1,727 shares has a liquidation preference of $25,000, and the redemption will total $43,175,000.

The fund will redeem 864 series TH shares on June 29 and 863 series M shares on June 30.

Nuveen is an investment management firm based in Chicago.

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