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

Nuveen Preferred & Income Term Fund is asking shareholders to vote in favor of the Term Proposal to avoid automatic liquidation of the fund.

Summary

• Nuveen Preferred & Income Term Fund is urging shareholders to vote 'IN FAVOR' of the Term Proposal at the Annual Meeting on April 12, 2024.
• If the Term Proposal is not approved, the Fund will automatically liquidate.
• The Fund emphasizes that voting for the Term Proposal will protect shareholder investment choices and maintain a tax-efficient investment vehicle focused on preferred securities and qualified dividend income.
• Shareholders can vote online, by phone, or by mail using the WHITE proxy card.
• Computershare Fund Services can be contacted toll-free at 1 (888) 815-5825 for any questions.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive, as the fund is actively trying to avoid liquidation and maintain its investment strategy. However, the risk of liquidation introduces a negative element.

Positives

• The Term Proposal aims to preserve a tax-efficient investment vehicle for shareholders.
• The Fund offers exposure to a strategy focused on preferred securities, delivering qualified dividend income.

Negatives

• If the Term Proposal fails, the Fund will automatically liquidate, which may not be in the best interest of all shareholders.

Risks

• The primary risk is the potential liquidation of the Fund if the Term Proposal is not approved by shareholders.

Future Outlook

The future of the fund depends on the outcome of the shareholder vote on the Term Proposal. Approval will allow the fund to continue operating, while failure will result in liquidation.

Management Comments

• Management urges shareholders to vote 'IN FAVOR' of the Term Proposal to protect their investment choices.

Industry Context

This announcement is typical for closed-end funds facing potential termination events, requiring shareholder votes to determine their future.

Stakeholder Impact

• Shareholders face the risk of liquidation if the Term Proposal is not approved.
• Employees of the fund may be affected by the potential liquidation.

Next Steps

• Shareholders need to vote on the Term Proposal before the Annual Meeting on April 12, 2024.

Key Dates

Keywords

Term Proposal, Nuveen Preferred & Income Term Fund, Liquidation, Shareholder Vote, Proxy, Preferred Securities, Qualified Dividend Income