Nuveen Credit Opportunities 2022 Target Term Fund Announces Termination and Liquidation

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NEW YORK, June 02, 2022–(BUSINESS WIRE)–The Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO) completed its closing and liquidation after the close of business on June 1, 2022. The closing and liquidation was completed in accordance with the objectives of fund investment and organizational documents, consistent with previously announced fund liquidation plans.

The Nuveen Credit Opportunities 2022 Target Term Fund was launched on March 28, 2017 as a short duration strategy that invests primarily in high yield corporate debt, with two investment objectives, to provide high current income and to return the original net asset value (original NAV). of $9.85 per common share upon termination on or about June 1, 2022.

As expected, due to market conditions, JCO did not return the original net asset value upon its termination. The original net asset value investment objective was not a guarantee and depended on a number of factors, including the extent of the market rally and the cumulative level of retained income versus gains. portfolio net of losses.

The fund returns to shareholders an extended net asset value of $7.9446 per common share as a liquidation distribution. Investors should consider the distribution announced today as well as the previously announced special distribution declared on May 12, 2022 as part of the final distribution of proceeds within the investment objective of the fund. The final amount of the fund liquidation distribution is shown below.

The details per action are as follows:

Special distribution declared on May 12, 2022

$0.0713

Final Liquidating Distribution Announced Today

$7.9446

Total distribution

$8.0159

Over its five-year term, the fund has paid 60 regular distributions totaling $2.6770 per share, which equates to an average distribution rate of 5.25% on net asset value and 5.17% on market price. The annualized total return on net asset value for shareholders who invested in the IPO was 1.77% and the total market price return was 1.54%.

Shareholders may recognize a gain or loss for US tax purposes as a result of the liquidation. Nuveen does not provide tax advice; investors should consult a professional tax adviser regarding their specific tax situation.

Nuveen is a leading closed-end fund (CEF) sponsor with $62 billion in assets under management across 58 CEFs as of March 31, 2022. The funds provide exposure to a wide range of asset classes and are designed for income-oriented investors who seek regular 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:
media-inquiries@nuveen.com

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 $1.2 trillion in assets under management as of March 31, 2022 and operations 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 or referenced in this release may be 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, including the timing of distributions and other events identified in this press release;

  • legal and regulatory developments; and

  • other additional risks and uncertainties.

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20220602005794/en/

contacts

Finance professionals:
800-752-8700
Investors:
800-257-8787

Media:
media-inquiries@nuveen.com

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