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Nuveen Floating Rate Income Opportunity Fund Completes Term Preferred Share Offering


Nuveen, today announced Nuveen Floating Rate Income Opportunity Fund (JRO) has issued Term Preferred Shares, with a term redemption date of April 1, 2022 (Series 2022-1 Term Preferred Shares) through an offering registered with the U.S. Securities and Exchange Commission.

Details of the Series 2022-1 Term Preferred Shares issuance are as follows:

Fund     Common     Series 2022-1     Number of     Term
Share Term Series Redemption
Preferred 2022-1 Date
Ticker Shares Term
Issuance Preferred
            Amount     Shares      
Nuveen Floating Rate Income Opportunity Fund     JRO     $21,000,000     21,000     4/1/2022

The fund intends to use the net proceeds from this offering of Series 2022-1 Term Preferred Shares to repay indebtedness and to increase the Fund’s leverage.

The Series 2022-1 Term Preferred Shares will pay a dividend rate that will adjust based upon a pre-determined schedule. Term Preferred Shares are preferred securities of the fund and are senior, with priority in all respects, to the fund’s common shares in liquidation and as to payments of dividends. The Series 2022-1 Term Preferred Shares rank equally with the fund’s outstanding Term Preferred Shares, Series 2022, Series 2023, and Series 2027, with respect to liquidation and dividends. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

About Nuveen

Nuveen offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. As the investment management arm of TIAA, Nuveen has $882 billion in assets under management as of 12/31/16 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

The information contained on the Nuveen website is not a part of this press release.

Securities offered through Nuveen Securities, LLC, member FINRA and SIPC.


Certain statements made or referenced in this release may be forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

  • market developments;
  • legal and regulatory developments; and
  • other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

This notice is being provided pursuant to Regulation FD (Fair Disclosure) to ensure that the fund’s common and preferred shareholders have been informed of the fund’s issuance of Series 2022-1 Term Preferred Shares. The offering of Series 2022-1 Term Preferred Shares is part of a shelf registration statement. In addition to the Series 2022-1 Term Preferred Shares sold today and term preferred shares previously sold by the fund in connection with its shelf registration statement, the fund may offer and sell additional series of term preferred shares.


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