Nuveen to redeem $664.83 million auction-rate preferreds in January

By Toni Weeks

San Diego, Dec. 30 - Nuveen Insured Municipal Opportunity Fund, Inc. announced that it will redeem all of its outstanding M, T, W, W2, W3, TH, TH2, TH3 and F municipal auction-rate preferred securities in January, according to a filing with the Securities and Exchange Commission.

Each share has a liquidation preference of $25,000, and the redemption will total $664,825,000.

The redemption will be completed over five days, according to the following schedule:

• 3,319 series M shares on Jan. 21

• 3,319 series T shares on Jan. 24

• 3,320 series W shares on Jan. 25

• 2,655 series W2 shares on Jan. 25

• 1,486 series W3 shares on Jan. 25

• 3,319 series TH shares on Jan. 26

• 3,321 series TH2 shares on Jan. 26

• 2,536 series TH3 shares on Jan. 26 and

• 3,318 series F shares on Jan. 20.

Nuveen is an investment management firm based in Chicago.

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