Nuveen Preferred and Income 2022 Term Fund Announces Preliminary Tender Offer Results

NEW YORK, February 18, 2022–(BUSINESS WIRE)–Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) has announced the preliminary results of a tender offer.

As previously announced, the fund has completed a tender offer allowing shareholders to tender up to 100% of their common shares for cash redemption at a price per share equal to 100% of the specified net asset value per share. on the expiration date of the tender offer. . The tender offer expired on February 17, 2022 at 5:00 p.m. Eastern Time.

According to preliminary information, 2,419,994 common shares have been tendered, representing approximately 35% of the fund’s outstanding common shares. These figures do not include actions brought by Notice of Guaranteed Delivery.

Completion of the public tender offer for the fund is subject to certain conditions, in particular that the total net assets of the fund must be equal to or greater than $70 million at the expiry date of the public tender offer. purchase, taking into account the amounts that would be paid to shareholders who duly tendered their shares. If the fund’s net assets after the tender offer are less than $70 million, the tender offer will not be completed and no common shares will be repurchased.

The fund currently anticipates the satisfaction of all conditions of the tender offer and the success of the tender offer and expects to announce the final results of the offer on February 24, 2022. Accordingly, the fund intends to implement the restructuring described in the fund’s proxy statement. dated October 20, 2021 and in the tender offer relating to the tender offer.

Nuveen is a leading closed-end fund (CEF) sponsor with $66 billion in assets under management across 58 CEFs as of December 31, 2021. The funds provide exposure to a wide range of asset classes and are designed for income-oriented investors seeking distributions. Nuveen has over 30 years of experience managing CEFs.

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

Finance professionals:
800-752-8700

Investors:
800-257-8787

Media:
[email protected]

About Nuveen

Nuveen, TIAA’s investment manager, offers a full suite of results-driven investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of December 31, 2021 and operates in 27 countries. Its investment specialists offer deep expertise in a full range of traditional and alternative investments across a wide range of vehicles and custom strategies. For more information, please visit www.nuveen.com.

Nuveen Securities, LLC, Member FINRA and SIPC.

Information contained on Nuveen’s website does not form part of this press release.

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release are forward-looking statements. Actual results or future events may differ materially from those anticipated in the forward-looking statements due to numerous factors. These include, but are not limited to:

• market developments;

• legal and regulatory developments;

• satisfaction of the conditions for the completion of the public offer; and

• other additional risks and uncertainties.

You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Nuveen and the closed-end funds managed by Nuveen and its affiliates assume no responsibility to publicly update or revise any forward-looking statements.

Annual and semi-annual reports and other regulatory filings of Nuveen closed-end funds with the Securities and Exchange Commission (“SEC”) are available on the SEC’s website at www.sec.gov and at the website of Nuveen at www.nuveen.com/cef and may discuss the factors mentioned above or other factors that affect Nuveen closed-end funds.

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contacts

Finance professionals:
800-752-8700

Investors:
800-257-8787

Media:
[email protected]