Nuveen Details Merger Benefits, Addresses State Tax Exemption Impact for Proxy Firm

summarizeSummary

Nuveen filed supplemental material to a proxy advisory firm, demonstrating that shareholders of merging funds will experience a net increase in tax-adjusted yields post-merger, despite the loss of state tax exemption.

check_boxKey Events

• Addresses Proxy Firm Inquiry

  Supplemental material filed in response to a proxy advisory firm's inquiry about the impact of losing state tax exemption post-merger.

• Details Post-Merger Yield Benefits

  Provides data showing that shareholders of NXJ, NQP, and NOM will realize an earnings gain and a net increase in tax-adjusted yields after merging with NMZ, despite losing their state tax exemption.

• Supports Ongoing Merger Approval

  This communication is part of the ongoing effort to secure shareholder and proxy advisory firm support for the proposed merger, following previous filings detailing merger benefits.

auto_awesomeAnalysis

This filing provides crucial supplemental information to a proxy advisory firm, addressing a key concern regarding the impact of losing state tax exemption for shareholders of Nuveen New Jersey Quality Municipal Income Fund (NXJ), Nuveen Pennsylvania Quality Municipal Income Fund (NQP), and Nuveen Missouri Quality Municipal Income Fund (NOM) post-merger with Nuveen Municipal High Income Opportunity Fund (NMZ). By presenting detailed tax-adjusted yield comparisons, Nuveen aims to demonstrate that the merger will result in a net increase in earnings for these shareholders, thereby mitigating a potential hurdle for securing merger approval. This proactive communication is vital for the successful completion of the proposed merger.