{"id":474708,"date":"2021-04-12T08:58:05","date_gmt":"2021-04-12T12:58:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-closed-end-fund-reorganizations-complete-2\/"},"modified":"2021-04-12T08:58:05","modified_gmt":"2021-04-12T12:58:05","slug":"nuveen-closed-end-fund-reorganizations-complete-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-closed-end-fund-reorganizations-complete-2\/","title":{"rendered":"Nuveen Closed-End Fund Reorganizations Complete"},"content":{"rendered":"

<\/p>\n

Nuveen Closed-End Fund Reorganizations Complete<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe reorganization of Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) into Nuveen Quality Municipal Income Fund (NYSE: NAD) and the reorganization of Nuveen New York Municipal Value Fund 2 (NYSE: NYV) into Nuveen New York Municipal Value Fund (NYSE: NNY) were completed prior to the open of the New York Stock Exchange on April 12, 2021.\n<\/p>\n

\nIn the reorganization, NAD acquired substantially all of the assets and liabilities of NMY in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. In the reorganization, NNY acquired substantially all of the assets and liabilities of NYV in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. NNY also completed a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. The exchange was based upon the values of the funds\u2019 net assets as of the close of trading on April 9, 2021. The exchange ratio at which common shares of NAD were issued in exchange for the net assets for NMY and common shares of NNY were issued in exchange for net assets of NYV is listed below:\n<\/p>\n\n\n\n\n
\n

Ticker<\/b><\/p>\n<\/td>\n

\n\n

Fund Name<\/b><\/p>\n<\/td>\n

\n\n

Exchange Ratio<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nNMY\n<\/p>\n<\/td>\n

\n\n

\nNuveen Maryland Quality Municipal Income Fund\n<\/p>\n<\/td>\n

\n\n

\n0.94181513\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNYV\n<\/p>\n<\/td>\n

\n\n

\nNuveen New York Municipal Value Fund 2\n<\/p>\n<\/td>\n

\n\n

\n1.55145189\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nFor more information about the shareholder-approved reorganizations, please visit Nuveen\u2019s CEF homepage www.nuveen.com\/closed-end-funds<\/a>.\n<\/p>\n

About Nuveen<\/b><\/p>\n

\nNuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.2 trillion in assets under management as of 31 Dec 2020 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com<\/a>.\n<\/p>\n

\nNuveen Securities, LLC, member FINRA and SIPC.\n<\/p>\n

\nThe information contained on the Nuveen website is not a part of this press release.\n<\/p>\n

\nEPS-1598028PR-E0421X\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210412005201\/en\/<\/a><\/span><\/p>\n

\nFinancial Professionals:
\n
800-752-8700\n<\/p>\n

\nInvestors:
\n
800-257-8787\n<\/p>\n

\nMedia:
\n
media-inquiries@nuveen.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Nuveen Closed-End Fund Reorganizations Complete NEW YORK–(BUSINESS WIRE)– The reorganization of Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) into Nuveen Quality Municipal Income Fund (NYSE: NAD) and the reorganization of Nuveen New York Municipal Value Fund 2 (NYSE: NYV) into Nuveen New York Municipal Value Fund (NYSE: NNY) were completed prior to the open of the New York Stock Exchange on April 12, 2021. In the reorganization, NAD acquired substantially all of the assets and liabilities of NMY in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. In the reorganization, NNY acquired substantially all of the assets and liabilities of NYV in a tax-free transaction in … <\/p>\n

Continue reading “Nuveen Closed-End Fund Reorganizations Complete”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-474708","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNuveen Closed-End Fund Reorganizations Complete - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-closed-end-fund-reorganizations-complete-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nuveen Closed-End Fund Reorganizations Complete - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Nuveen Closed-End Fund Reorganizations Complete NEW YORK–(BUSINESS WIRE)– The reorganization of Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) into Nuveen Quality Municipal Income Fund (NYSE: NAD) and the reorganization of Nuveen New York Municipal Value Fund 2 (NYSE: NYV) into Nuveen New York Municipal Value Fund (NYSE: NNY) were completed prior to the open of the New York Stock Exchange on April 12, 2021. In the reorganization, NAD acquired substantially all of the assets and liabilities of NMY in a tax-free transaction in exchange for newly-issued common shares in an aggregate amount equal in value to the net assets transferred. 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