The short-term ratings of the VRDP
Shares were directly linked to the short-term rating of JPMorgan Chase Bank, N.
shares include a liquidity feature that allows holders of VRDP
to have their shares purchased by a liquidity provider in the event that sell orders have not been matched with purchase orders and successfully settled in a remarketing.
262,200,000 of VRDP
Shares, Series 2, final mandatory redemption on March 1, 2040, rated 'AAA', short-term rating withdrawn.
The above transition will be done through a mandatory re-marketing of the VRDP
shares from existing holders via the re-marketing agent to an institutional purchaser, Nuveen stated.
rated 'A/F1' by Fitch), as liquidity provider; --The terms and conditions of the VRDP
shares purchase agreement (purchase agreement).
109,000,000 of VRDP
Shares, Series 4, final mandatory redemption on Dec.
During the initial period, the VRDP
shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or supported by a liquidity provider.
42,700,000 of VRDP
shares, series 3, due March 1, 2040, affirmed at 'AAA/F1+', Deutsche Bank AG (rated 'A+/F1+' by Fitch) as liquidity provider.
The credit strength of the liquidity provider of the Series 5 VRDP
160,000,000 of VRDP
Shares, Series 8, final mandatory redemption on Nov.
Finally, formal notice of the redemption will be delivered to preferred shareholders at a later date through The Depository Trust Company (DTC) and the address of the VRDP
shares tender and paying agent, the Bank of New York Mellon, is 101 Barclay Street, New York, New York 10286.
NPY and NQC Issue Additional Shares of Series 2 VRDP