CHICAGO - (Business Wire) Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the MuniFund Term Preferred (MTP) shares issued by the Nuveen Insured Dividend Advantage Municipal Fund (NVG) on October 19 2009, have begun trading on the New York Stock Exchange (NYSE), under the ticker symbol “NVG PrC”. MTP is a fixed rate form of preferred stock with a mandatory redemption period, in the case of NVG’s MTP shares, of five years. By issuing MTP, the fund sought to take advantage of the current historically low interest rate environment to lock in an attractive tax-exempt cost of leverage for a period as long as the term of the MTP. Issuing MTP helps the fund mitigate the risk of a significant increase in its cost of leverage should short-term interest rates rise. For more information about NVG common and MTP shares, visit http://www.nuveen.com/CEF/FundDetail.aspx?FundCode=NVG.
The Nuveen Insured Dividend Advantage Municipal Fund is a leveraged closed-end fund that seeks to provide current income exempt from regular federal income tax and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the fund’s investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued. The fund invests primarily in a portfolio of municipal bonds that are exempt from regular federal income taxes and that are covered by insurance guaranteeing the timely payment of principal and interest thereon by insurers with a claims paying ability rated at least A.
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $141 billion as of September 30 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606 or www.nuveen.com/cef. Investors should read the prospectus carefully before they invest or send money.
This document is not an offer to sell this security and is not soliciting an offer to buy this security in any state where the offer or sale is not permitted.
Nuveen Investments
Media Contact:
Kristyna Sujata
312-917-8343
KRISTYNA.SUJATA@NUVEEN.COM
