Nuveen High Income December 2018 Target Term Fund Announces Termination and Liquidation
Business Wire 3-Dec-2018 9:25 AM
JHA returns $9.94 per Common Share
The Nuveen High Income December 2018 Target Term Fund (NYSE:JHA)
successfully completed its termination and liquidation following the
close of business on November 30, 2018. The termination and liquidation
was performed in accordance with the Fund's investment objectives and
organizational documents, consistent with the fund's previously
announced liquidation plans.
The Nuveen High Income December 2018 Target Term Fund launched on
November 12, 2015 as a short duration strategy that invested primarily
in high yield corporate debt, with two investment objectives, to provide
high current income and return the original net asset value (NAV) of
$9.86 per common share upon termination on or about December 1, 2018.
The fund is returning to shareholders an extended NAV of $9.9435 per
common share as its liquidating distribution, $0.0835 more than the
original $9.86 NAV. Over its three year term, the fund paid 34 monthly
distributions and one long-term capital gain distribution totaling
$1.3987 per share, which equates to an average distribution rate of
4.65% on NAV and 4.58% on market. The annualized total return on NAV for
shareholders who invested at the initial public offering was 4.96% and
the market price total return was 4.49%.
Shareholders may recognize gain or loss for U.S. tax purposes as a
result of the liquidation. Nuveen does not provide tax advice; investors
should consult a professional tax advisor regarding their specific tax
situation.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of
outcome-focused investment solutions designed to secure the long-term
financial goals of institutional and individual investors. Nuveen has
$988 billion in assets under management as of 9/30/18 and operations in
16 countries. Its affiliates offer deep expertise across a comprehensive
range of traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please visit www.nuveen.com.
Closed-end fund historical distribution sources have included net
investment income, realized gains and return of capital.
The information contained on the Nuveen website is not a part of this
press release. Nuveen Securities, LLC, member FINRA and SIPC.
681567-INV-O-12/20
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