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Nuveen Dividend Advantage Municipal Fund 3, 2.80% MTP Pfd 1/1/2016
Ticker Symbol: NZF-C* CUSIP: 67070X507 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/11/2014
Security has been Called for: Friday, April 11, 2014
March 11, 2014 -- Nuveen Investments, today announced that two municipal bond closed-end funds have filed with the Securities and Exchange Commission notices of intention to redeem all of their respective outstanding MuniFund Term Preferred (MTP) and Variable Rate MuniFund Term Preferred (VMTP) shares. (NZF-C & NRK-C) The MTP redemption price will be the $10 liquidation preference per share, plus an additional amount representing the final accumulated distribution amounts owed. The VMTP redemption price will be the $100,000 liquidation preference per share, plus an additional amount representing the final accumulated distribution amounts owed. Each fund expects to finance the MTP and VMTP share redemptions with the proceeds of newly issued preferred shares and the redemptions are contingent upon the completion of all aspects of such preferred share placements by each Fund, which may not occur as planned. Official notification of the redemptions will be delivered to MTP and VMTP shareholders of each Fund at a later date through The Depository Trust Company (DTC). The anticipated date of each redemption is April 11, 2014. The address of the redemption and paying agent, Computershare Inc., is as follows: 250 Royall Street, Canton, Massachusetts 02021.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Nuveen Dividend Advantage Municipal Fund 3, 2.80% MuniFund Term Preferred (MTP) Shares, Series 2016, with a liquidation preference of $10 per share. As of 1/1/2012, the MTP Shares will be subject to redemption at the option of the Fund, subject to payment of a premium of 1.00% through 6/30/2012, 0.5% through 12/31/2012, and at par thereafter. The fund is required to redeem the MTP shares at $10 per share on 1/1/2016. Distributions of 2.80% ($0.28) per annum are paid monthly on the first business day of the month to holders of record on the record date which will be the 15th day of the month prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The December dividend will be paid on the last business day of December. Dividends paid by the preferred are intended to be exempt from regular federal income taxes but a portion may be subject to the federal alternate minimum tax. If the dividend is not exempt for regular federal income taxes, the fund will make a supplemental payment to make the dividends equivalent on an after tax basis. Upon issuance, the shares will have a long term credit rating of Aaa from Moody's, AAA from S&P and AAA from Fitch. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (NZF)
IPO - 12/16/2010 - 6.50 Million Shares @ $10.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: NZFFP Changed: 1/14/2011
Market Value $65.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 333 West Wacker Drive, Chicago, IL 60606 |
| Main Phone Number |
312-917-7700 |
| Fax Number |
Not Available |
| Investor Contact
Kristyna Munoz
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312-917-8343
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| Toll Free Phone Number |
800-257-8787 |
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