Company: NMS
Filing Date: 2025-02-05
Form Type: N-CSRS
Source: 0001193125-25-020489
Chunk: 157

Company: Nuveen Minnesota Quality Municipal Income Fund
Filing Date: 2025-02-05
Form: N-CSRS
Chunk 157
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considered.

Effective

Leverage:

Effective

leverage

is

a

fund’s

effective

economic

leverage,

and

includes

both

regulatory

leverage

(see

leverage)

and

the

leverage

effects

of

certain

derivative

investments

in

the

fund’s

portfolio.

Currently,

the

leverage

effects

of

Tender

Option

Bond

(TOB)

inverse

floater

holdings

are

included

in

effective

leverage

values,

in

addition

to

any

regulatory

leverage.

Escrowed

to

Maturity

Bond:

When

proceeds

of

a

refunding

issue

are

deposited

in

an

escrow

account

for

investment

in

an

amount

sufficient

to

pay

the

principal

and

interest

on

the

issue

being

refunded.

In

some

cases,

though,

an

issuer

may

expressly

reserve

its

right

to

exercise

an

early

call

of

bonds

that

have

been

escrowed

to

maturity.

Inverse

Floating

Rate

Securities:

Inverse

floating

rate

securities,

are

the

residual

interest

in

a

tender

option

bond

(TOB)

trust,

sometimes

referred

to

as

“inverse

floaters”,

are

created

by

depositing

a

municipal

bond,

typically

with

a

fixed

interest

rate,

into

a

special

purpose

trust.

This

trust,

in

turn,

(a)

issues

floating

rate

certificates

typically

paying

short-term

tax-exempt

interest

rates

to

third

parties

in

amounts

equal

to

some

fraction

of

the

deposited

bond’s

par

amount

or

market

value,

and

(b)

issues

an

inverse

floating

rate

certificate

(sometimes

referred

to

as

an

“inverse

floater”)

to

an

investor

(such

as

a

Fund)

interested

in

gaining

investment

exposure

to

a

long-term

municipal

bond.