DEFA14A: Nuveen Preferred & Income Term Fund: Shareholders to Vote on Term Proposal

Shareholders of the Nuveen Preferred & Income Term Fund (JPI) will vote on a term proposal at the Annual Meeting on April 12, 2024, which offers a management fee discount or potential liquidation.

Summary

• Nuveen Preferred & Income Term Fund (JPI) is holding its Annual Meeting on April 12, 2024, at 2:00 p.m. CT.
• Shareholders will vote on a term proposal.
• A vote for the term proposal allows investors to continue their investment with a management fee discount for the first year or tender some or all of their shares at up to 100% of NAV.
• A vote against the term proposal results in automatic liquidation of every position and termination of the Fund for all shareholders.
• Shareholders can vote online, by phone, or by mail using the provided WHITE proxy card.
• Computershare Fund Services can be contacted toll-free at 1 (888) 815-5825 for questions about the proposals.

Sentiment

Score: 5

Explanation: Neutral sentiment as it presents a choice to shareholders with both positive and negative outcomes depending on the vote.

Positives

• Shareholders have the option to continue their investment with a management fee discount for the first year if the term proposal is approved.
• Shareholders can tender some or all of their shares at up to 100% of NAV if the term proposal is approved.

Negatives

• Voting against the term proposal will result in the automatic liquidation of every position and the termination of the Fund for all shareholders.

Risks

• If the term proposal is not approved, shareholders face automatic liquidation of their positions.

Future Outlook

The future of the fund depends on the outcome of the shareholder vote on the term proposal. Approval leads to continued operation with a management fee discount, while rejection results in liquidation.

Industry Context

This announcement is typical for closed-end funds approaching the end of their term, where shareholders are given the option to extend the fund's life or liquidate.

Stakeholder Impact

• Shareholders will be directly impacted by the outcome of the vote, with potential for continued investment with a fee discount or liquidation.
• Fund managers will be impacted as the fund will either continue or be liquidated.

Next Steps

• Shareholders need to vote on the term proposal before the Annual Meeting on April 12, 2024.

Key Dates

Keywords

Nuveen Preferred & Income Term Fund, JPI, term proposal, Annual Meeting, liquidation, management fee discount, NAV, proxy vote, shareholders