Nuveen California to redeem all series M and W auction-rate preferreds

By Toni Weeks

San Diego, Dec. 16 - Nuveen California Investment Quality Municipal Fund, Inc. gave notice that it will redeem all of its outstanding series M and W municipal auction-rate cumulative preferred shares in January, according to a filing with the Securities and Exchange Commission.

Each share has a liquidation preference of $25,000.

The redemption, which will total $94,925,000, will be completed over two days, with 3,051 series M shares to be redeemed Jan. 7 and 746 series W shares to be redeemed Jan. 11.

Nuveen is an investment management firm based in Chicago.

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