Nuveen Intermediate Duration Municipal Term Fund Announces Intention to Redeem Preferred Shares

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Jan 30, 2023

The Nuveen Intermediate Duration Municipal Term Fund (NYSE: NID) has filed with the Securities and Exchange Commission a notice of intention to redeem the fund’s outstanding Series 2023 Adjustable Rate MuniFund Term Preferred Shares. The Adjustable Rate MuniFund Term Preferred Share redemption price will be the $100,000 liquidation preference per share, plus an additional amount representing the final accumulated dividends owed. The Fund expects to finance the Series 2023 Adjustable Rate MuniFund Term Preferred Share redemption with portfolio sales and cash on hand, and this redemption is contingent upon the completion of all aspects of such portfolio sales by the Fund, which may not occur as planned. Official notification of the redemption will be delivered to affected shareholders through The Depository Trust Company (DTC).