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Nuveen Insured New York to redeem $50.35 million preferred shares
By Jennifer Chiou
New York, Sept. 8 - Nuveen Insured New York Premium Income Municipal Fund, Inc. will redeem its series M and T municipal auction-rate cumulative preferred shares, according to a filing with the Securities and Exchange Commission.
The preferreds each have a liquidation preference of $25,000, and the redemption will total $50.35 million, including:
• 1,022 series M preferreds on Sept. 30; and
• 992 series T preferreds on Oct. 3.
Nuveen is an investment management firm based in Chicago.
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