Nuveen Maryland Quality Municipal Income Fund | 2.85% MTP Pfd 2/1/2016 (NMY.PRH)
This preferred is marked as having been called.
Prospectus excerpt: Nuveen Maryland Dividend Advantage Municipal Fund 3 is offering 1,536,600 MuniFund Term Preferred Shares, 2.85% Series 2016 (“Series 2016 MTP Shares”), with a liquidation preference of $10 per share (“MTP Shares”). The Fund intends to use the net proceeds from the sale of MTP Shares to refinance and redeem all of the Fund’s outstanding Municipal Auction Rate Cumulative Preferred Shares (“MuniPreferred™ shares”), and to maintain the Fund’s leveraged capital structure. Certain of the underwriters and their affiliates or their customers own or are obligated to repurchase in the future MuniPreferred shares and, as a result, may benefit from any such redemption.
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Nuveen Maryland Quality Municipal Income Fund is a closed-end management investment company. The Fund's investment objective is to provide current income exempt from both regular federal and designated state income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain United States territories. Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax and a single state's personal income tax. Preferreds: NMY.PRC, NMY.PRG, NMY.PRF, NMY.PRE, NMY.PRH, NMY.PRD Open the NMY Information Page » |
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