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Nuveen California Dividend Advantage Municipal Fund 3 | MuniFund Term Preferred Shares, 2.95% Series 2015 (NZH.PRC)
This preferred is marked as having been called.
Prospectus excerpt: Nuveen California Dividend Advantage Municipal Fund 3 is offering 7,500,000 MuniFund Term Preferred Shares, 2.95% Series 2015 (ÙSeries 2015 MTP Sharesˆ), with a liquidation preference of $10 per share (ÙMTP Sharesˆ). The Fund intends to use the net proceeds from the sale of MTP Shares to refinance and redeem a portion of the Fund?s outstanding Municipal Auction Rate Cumulative Preferred Shares (ÙMuniPreferred÷ sharesˆ), and to maintain the Fund?s leveraged capital structure. Certain of the underwriters and their affiliates or their customers own or are obligated to repurchase in the future MuniPreferred shares and, as a result, may benefit from any such redemption. See ÙProspectus Summary?The Offering.ˆ Full Prospectus PDF », Secondary Prospectus PDF », NZH Page »
Series: | 2015 | Alternate symbology: | NZH-C, NZH-PC, NZHprC | Redeemable?: | Yes | Call Date: | 1/1/2011 (Now Trading Post Call Date) | Maturity Date: | 1/1/2015 | Cumulative?: | Yes | Shares Offered: | 7,500,000 | Overallotment: | 1,125,000 | Liquidation Preference: | $10.00 | Original Coupon: | 2.95% | Pay Period: | Monthly | CDx3 Compliance Rating: |
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Nuveen California Dividend Advantage Municipal Fund 3 is a diversified, closed-end management investment company. Co. seeks to provide current income exempt from both regular federal and California state income taxes, and in the case of California AMT-Free Income (NKX) the alternative minimum tax applicable to individuals, by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain U.S. territories. As of Feb 29 2016, Co. had total investment portfolio of $505.2 million and total assets of $527.0 million. Preferreds: NZH.PRC, NZH.PRA, NZH.PRB Open the NZH Information Page »
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