1 The anticipated distributions may be composed of net investment income, capital appreciation, or possibly a return of capital. Unlike a distribution attributable to tax-exempt income, a distribution attributable to capital appreciation and/or return of capital could be subject to tax depending on a shareholder’s situation. In addition, in certain circumstances, net investment income may be subject to state and local tax as well as the federal alternative minimum tax (“AMT”). Investors should consult their tax advisors about the tax consequences of an investment in the Fund.
2The Fund will terminate as of the close of business on 1 Sep 2032, provided that the Fund’s Board of Trustees may, in its sole discretion and without any action by the shareholders of the Fund, by vote of a majority of the then Board of Trustees with notice to the shareholders, extend the Fund’s term for up to two one year periods. In addition, the Board may determine to cause the Fund to conduct an Eligible Tender Offer. If the Eligible Tender Offer is completed, the Board of Trustees may, in its sole discretion and without any action by the shareholders of the Fund, by vote of a majority of the then Board of Trustees, provide that the Fund may continue without limitation of time subject to certain terms and conditions. If an Eligible Tender Offer is not conducted, the Fund will cease investment operations, retire or redeem its leverage facilities, liquidate its investment portfolio (to the extent possible) and distribute all of its liquidated net assets to Common Shareholders of record in one or more distributions on or after 1 Sep 2032 or as extended by the Board.
Important information on risk
Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. The values of municipal securities held by the Fund may be adversely affected by local political and economic conditions and developments. Debt or fixed income securities such as those municipal securities held by the Fund, are subject to market risk, credit risk, interest rate risk, liquidity risk and income risk. As interest rates rise, bond prices fall. Lower quality municipal securities may be more likely to fail to make timely interest or principal payments. Leverage increases return volatility and magnifies the Fund's potential return and its risks; there is no guarantee a fund's leverage strategy will be successful. These and other risk considerations such as inverse floater risk, derivatives risk and tax risk are described in more detail in the Shareholder Update section of the Fund’s annual report at nuveen.com/NDMO-annual-report.
An investment in this fund presents a number of risks and is not suitable for all investors. Investors should carefully review and consider potential risks before investing.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Performance data shown represents past performance and does not predict or guarantee future results. Current performance may be higher or lower than the data shown. NAV returns are net of fund expenses, and assume reinvestment of distributions.
Nuveen Asset Management, LLC is the subadviser to the Fund and an affiliate of Nuveen, LLC.
Nuveen Securities, LLC, member FINRA and SIPC.
X-3695517P-E0724W
