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CHICAGO, August 24, 2016 – Nuveen, an operating division of TIAA Global Asset Management, today announced it has successfully completed the initial public offering of the Nuveen High Income November 2021 Target Term Fund (NYSE: JHB). The new closed-end fund’s investment objectives are to seek to provide a high level of current income and to return the original $9.85 net asset value (NAV) per common share on or about November 1, 2021. The fund will seek to achieve its investment objectives by investing primarily in shorter maturity, high-yield corporate bonds.
The fund will begin trading on the New York Stock Exchange (NYSE) today, under the symbol JHB.
The fund raised $500 million (before deduction of the sales load and offering expenses payable by the fund) in its common share offering, excluding any exercise of the underwriters’ option to purchase additional shares.
If the underwriters exercise that option in full, the fund will have raised approximately $564 million.