Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced it has successfully completed the initial public offering of the Nuveen High Income 2020 Target Term Fund (NYSE: JHY). The new closed-end fund’s investment objectives are to seek to provide a high level of current income and to return the original $9.85 net asset value (NAV) per common share on or about November 1, 2020. The fund will seek to achieve its investment objectives by investing primarily in shorter maturity, high-yield corporate bonds.

The fund will begin trading on the New York Stock Exchange (NYSE) today, under the symbol JHY.

The fund raised approximately $124 million (before deduction of the sales load and offering expenses payable by the fund) in its common share offering, excluding any exercise of the underwriters’ option to purchase additional shares. If the underwriters exercise that option in full, the fund will have raised approximately $143 million.

Nuveen Fund Advisors, LLC, a subsidiary of Nuveen Investments, is the fund’s investment adviser, responsible for the fund’s overall investment strategy and its implementation, including the use of leverage. Nuveen Asset Management, an affiliate of Nuveen Investments, is the fund’s subadviser, responsible for investing the fund’s assets. The lead managers of the underwriting syndicate were Morgan Stanley, Barclays, RBC Capital Markets and Nuveen Securities.

Shares of closed-end investment companies, like the fund, usually trade on a national stock exchange. Similar to stocks, the fund’s share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value.

About Closed-End Funds

Nuveen closed-end funds have long been valued for their potential to provide attractive income. In the search for increased income opportunities, closed-end funds can be a smart choice. Because of their unique closed structure, closed-end funds can use leverage, and are generally able to invest more fully and flexibly than other types of widely available investment vehicles. Their higher yield potential can make them a powerful tool for optimizing an income portfolio.

About Nuveen Investments

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and independent investment subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed approximately $230 billion as of June 30, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Securities, LLC, 333 W. Wacker Drive, Chicago, IL 60606. Investors should read the prospectus carefully before they invest or send money.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted.

9469-INV-O-07/16

Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312) 917-8343kristyna.munoz@nuveen.com

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