Company: NAZ
Filing Date: 2025-05-07
Form Type: N-CSRS
Source: 0001193125-25-114739
Chunk: 37

Company: NUVEEN ARIZONA QUALITY MUNICIPAL INCOME FUND
Filing Date: 2025-05-07
Form: N-CSRS
Chunk 37
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 VRDP Shares may be redeemed, in whole or in part, at any time at the option of each Fund. Each Fund may also redeem certain of the VRDP Shares if the Fund fails to maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends. The average liquidation preference of VRDP Shares outstanding and annualized dividend rate for each Fund during the current fiscal period were as follows:

| Fund |     | Average       
 Liquidation   
 Preference of 
 VRDP Shares   
 Outstanding   |             |     | Annualized    
 Dividend Rate |      |   |
|:-----|:----|:--------------|------------:|:----|:--------------|-----:|:--|
| NKX  |     | $             | 256,700,000 |     |               | 3.09 | % |
| NAC  |     |               | 907,800,000 |     |               | 3.50 |   |
| NXJ  |     |               | 313,900,000 |     |               | 4.10 |   |

| 153 |

Notes to Financial Statements (continued)

| Fund |     | Average       
 Liquidation   
 Preference of 
 VRDP Shares   
 Outstanding   |             |     | Annualized    
 Dividend Rate |       |
|:-----|:----|:--------------|------------:|:----|:--------------|------:|
| NRK  |     | $             | 583,800,000 |     |               | 3.11% |
| NAN  |     |               |  89,000,000 |     |               |  3.20 |
| NQP  |     |               | 217,500,000 |     |               |  4.11 |

For financial reporting purposes, the liquidation preference of VRDP Shares is a liability and is recognized as a component of “VRDP Shares, Net” on the Statement of Assets and Liabilities. Unpaid dividends on VRDP Shares are recognized as a component of “Payable for interest” on the Statement of Assets and Liabilities, when applicable. Dividends accrued on VRDP Shares are recognized as a component of “Interest expense and amortization of offering costs” on the Statement of Operations. Costs incurred by the Funds in connection with their offerings of VRDP Shares were recorded as a