DEFA14A: Nuveen Preferred & Income Term Fund: Shareholders to Vote on Fund's Future

Nuveen Preferred & Income Term Fund (JPI) urges shareholders to vote on the Term Proposal, offering a choice between continuing investment with a management fee discount or tendering shares at NAV.

Summary

• Nuveen Preferred & Income Term Fund (JPI) is holding a vote regarding the fund's future.
• The Board of Directors recommends shareholders vote FOR the Term Proposal.
• Voting for the Term Proposal allows shareholders to continue investing in JPI with a management fee discount for the first year or tender some or all of their shares at 100% of NAV.
• Without shareholder approval, the Fund will automatically terminate.
• The annual meeting has been moved to June 3, 2024, at 2:00 p.m. Central Time.
• Shareholders are encouraged to vote using the WHITE proxy card via online, phone, or mail.
• Computershare Fund Services is available at 1 (888) 815-5825 to answer any questions about the proposals.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it presents a choice to shareholders with both positive (discounted fees, tender at NAV) and negative (potential fund termination) implications.

Positives

• Shareholders have a choice to either continue investing in the fund with a management fee discount or tender their shares at NAV.
• The Board is providing shareholders with options regarding the fund's future.

Negatives

• The fund will automatically terminate if the Term Proposal is not approved by shareholders.

Risks

• Failure to secure shareholder approval for the Term Proposal will lead to the Fund's termination, potentially impacting shareholder investments.

Future Outlook

The future of the fund depends on the outcome of the shareholder vote on the Term Proposal. Approval allows for continued investment with potential benefits, while rejection leads to termination.

Management Comments

• The Board asks every JPI shareholder to vote FOR the Term Proposal on the WHITE proxy card.
• Voting FOR the Term Proposal empowers you to continue your investment in JPI with a management fee discount for the first year or tender some or all of your shares at 100% of NAV.
• Without your vote, the Fund automatically terminates for all.
• Protect investor choice and your investment by voting FOR the Term Proposal.

Industry Context

This announcement reflects the ongoing considerations and decisions faced by closed-end funds regarding their structure and future, often involving shareholder votes on continuation or liquidation.

Stakeholder Impact

• Shareholders will be directly impacted by the outcome of the vote, affecting their investment options and potential returns.
• The fund's management and employees will be affected depending on whether the fund continues or terminates.

Next Steps

• Shareholders need to vote on the Term Proposal before the annual meeting.
• The outcome of the vote will determine the future of the Nuveen Preferred & Income Term Fund (JPI).

Key Dates

Keywords

Nuveen Preferred & Income Term Fund, Term Proposal, Shareholder Vote, Fund Termination, Management Fee Discount, NAV, JPI