Nuveen Closed-End Fund Completes Preferred Share Private Placement

CHICAGO–(BUSINESS WIRE)–The Nuveen Floating Rate Income Fund (NYSE: JFR) has successfully
completed a private placement with qualified institutional buyers, as
defined pursuant to Rule 144A under the Securities Act of 1933 (the
Securities Act), of Term Preferred Shares with a term redemption date of
June 1, 2024 (Series 2024 Term Preferred Shares).

Details of the Series 2024 Term Preferred Shares are as follows:

                           
Fund     Common     Series 2024 Term     Number of Series     Term
Share Ticker Preferred Shares 2024 Term Redemption
            Issuance Amount     Preferred Shares     Date
Nuveen Floating Rate Income Fund     JFR     $35,000,000     35,000     6/1/2024
 

The fund intends to use the net proceeds from this offering of Series
2024 Term Preferred Shares to repay a portion of the fund’s outstanding
indebtedness.

The Series 2024 Term Preferred Shares will pay a dividend rate based on
a fixed spread to a short term index. 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 2024 Term Preferred Shares rank equally with
the fund’s outstanding Term Preferred Shares, Series 2019, Series 2022,
and Series 2027, with respect to liquidation and dividends.

The Series 2024 Term Preferred Shares have not been registered under the
Securities Act or any state securities laws. Unless so registered, the
Series 2024 Term Preferred Shares may not be offered or sold in the
United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities laws.
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 $906 billion in assets under management as of
3/31/17 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.

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

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

FORWARD LOOKING STATEMENTS:

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, including the successful sale of new preferred
    securities by the fund identified in this press release;
  • 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 private placement of Series 2024 Term
Preferred Shares.

160949-INV-O-05/19

Contacts

Nuveen
Kathleen Cardoza
312-917-7813
[email protected]