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Posted by
Two Blokes April 24, 2025 -
Filed in
Stock
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Nuveen Credit Strategies Income Fund's 1-for-5 rights offering has a subscription price based on the higher of 90% of NAV or 95% of the average closing price. The "higher of" condition prevents a vicious cycle of discount widening, effectively creating a discount floor and limiting how wide the discount can get. Investors should not subscribe if JQC's discount widens beyond -10%, as it would be cheaper to purchase the fund on the open market.
