Two Nuveen Closed-End Funds Propose New VRDP Actions

The Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJ) and Nuveen Virginia Quality Municipal Income Fund (NYSE: NPV), as part of Nuveen’s regular leverage management process, propose to transition each of their Series 1 Variable Rate Demand Preferred Shares (VRDP Shares) to a special rate period, through a mandatory remarketing of the VRDP Shares from existing holders through the remarketing agent to an institutional purchaser.

If and when each fund reaches an agreement to proceed, as anticipated, each fund will provide existing holders of the applicable VRDP Shares with advance notice of the mandatory remarketing in accordance with the governing documents of the VRDP Shares. During the special rate period, the VRDP Shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or supported by a liquidity provider. The proposed transitions may take place as early as late January 2017; however, the timing and completion of the proposed transition by each fund are subject to market conditions, as well as to reaching final agreement with the purchaser and satisfaction of customary closing conditions.

No VRDP Shares have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no VRDP Shares may be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the advisors who serve them. Through the investment expertise of leading asset managers across traditional and alternative asset classes, Nuveen is committed to delivering consultative guidance that aligns with client needs. Securities offered through Nuveen Securities, LLC, Member FINRA and SIPC. Nuveen is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen website at www.nuveen.com.

The information contained on the Nuveen website is not a part of this press release.

FORWARD LOOKING STATEMENTS

Certain statements made or referenced in this release may be forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

• market developments;
• legal and regulatory developments; and
• other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

The Annual and Semi-Annual Reports and other regulatory filings of the Nuveen closed-end funds with the Securities and Exchange Commission (SEC) are accessible on the SEC's website at www.sec.gov and on Nuveen`s website at www.nuveen.com/cef and may discuss the above-mentioned or other factors that affect the Nuveen closed-end funds. The information contained on those websites is not a part of this press release.

21832-INV-O-01/18

View source version on businesswire.com: http://www.businesswire.com/news/home/20170110006347/en/

NuveenMedia Contact:Kristyna Munoz(312) [e-mail]