Nuveen Select Tax-Free Income Portfolio (NXP)

GlobalFoundries Inc. (NASDAQGFS) is a leading global semiconductor foundry that makes chips for AMD, Broadcom, Qualcomm, Cirrus Logic, and NXP Semiconductors.

NXP Semiconductors is at an inflection point that means capital returns will continue, and the share price could move to a new high.

As previously announced, the Board of Trustees of Nuveen Intermediate Duration Municipal Term Fund (NYSENID) has approved the liquidation of the fund upon the fund’s originally scheduled termination date. NID intends to liquidate on or before March 31, 2023. The fund will not declare its regular monthly income distribution in March 2023 and expects to include any remaining undistributed net investment income with the fund’s final liquidating distribution. The fund anticipates making its final liquidating distribution on or about March 31, 2023. In connection with the liquidation, the fund anticipates providing an estimate of the amount of tax-exempt income included as part of the fund’s liquidating distribution. The final tax character of all distributions paid in 2023 will be reported to shareholders on Form 1099-DIV, which will be sent out in early 2024. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.

Today, the Nuveen Select Tax-Free Income Portfolio (NYSENXP) has declared a monthly distribution with the record, ex-dividend and payable date outlined below. As previously announced, the reorganization of Nuveen Select Tax-Free Income Portfolio 2 NYSE: NXQNYSENXQ)(NYSE: NXRNYSENXR into Nuveen Select Tax-Free Income Portfolio (NYSE: NXPNYSE) was successfully completed prior to the opening of the New York Stock Exchange on December 6, 2021. Today’s declaration represents the first regular monthly distribution following the reorganization.

The reorganization of Nuveen Select Tax-Free Income Portfolio 2 (NYSENXQ) and Nuveen Select Tax-Free Income Portfolio 3 NYSE: NXRNYSENXR)(NYSE: NXPNYSENXP was successfully completed prior to the opening of the New York Stock Exchange on December 6, 2021.

Three Nuveen Closed-End Funds announced pre-reorganization distributions. The specific distribution dates and amounts are detailed below. As previously announced, shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSENXP), Nuveen Select Tax-Free Income Portfolio 2 NYSE: NXQNYSENXQ)(NYSE: NXRNYSENXR have approved the funds’ reorganization. The reorganization will combine NXQ and NXR into NXP. The pre-reorganization distribution for each fund being acquired is intended to fully distribute the acquired fund’s accumulated undistributed net investment income (UNII) prior to the closing of the reorganization.

Shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSENXP), Nuveen Select Tax-Free Income Portfolio 2 NYSE: NXQNYSENXQ)(NYSE: NXRNYSENXR have approved the funds’ reorganization. The reorganization will combine NXQ and NXR into NXP. Subject to the satisfaction of certain customary closing conditions, the transactions are expected to become effective before the market opens on December 6, 2021.

The Boards of Trustees of Nuveen Select Tax-Free Income Portfolio (NYSENXP), Nuveen Select Tax-Free Income Portfolio 2 NYSE: NXQNYSENXQ)(NYSE: NXRNYSENXR have approved a proposal to reorganize the funds. The proposed reorganization, if approved by shareholders, would combine NXQ and NXR into NXP. The reorganization is intended to create a larger fund with lower operating expenses and increased trading volume on the exchange for common shares.