UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-22699

 

Nuveen Preferred and Income Term Fund

(Exact name of registrant as specified in charter)

   333 West Wacker Drive, Chicago, Illinois 60606   

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary
   333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant’s telephone number, including area code:      312-917-7700     

Date of fiscal year end:      7/31     

Date of reporting period:      10/31/13     

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 



 

Item 1. Schedule of Investments

 



 

 

 

Portfolio of Investments (Unaudited)

 

 

 

 

 

Nuveen Preferred and Income Term Fund (JPI)

 

 

 

 

 

October 31, 2013

 

 

 

 

Shares

 

Description (1)

 

Coupon

 

 

 

Ratings (2)

 

Value

 

 

 

Long-Term Investments - 138.1% (97.8% of Total Investments)

 

 

 

 

 

 

 

 

 

$25 Par (or similar) Retail Structures - 37.0% (26.2% of Total Investments)

 

 

 

 

 

 

 

Capital Markets - 1.3%

 

 

 

 

 

 

 

 

 

16,894

 

Deutsche Bank Capital Funding Trust VIII

 

6.375%

 

 

 

BBB-

 

$      407,652

 

50,000

 

Deutsche Bank Contingent Capital Trust V

 

8.050%

 

 

 

BBB-

 

1,353,000

 

242,100

 

Goldman Sachs Group, Inc.

 

5.500%

 

 

 

BB+

 

5,527,143

 

 

 

Total Capital Markets

 

 

 

 

 

 

 

7,287,795

 

 

 

Commercial Banks - 7.7%

 

 

 

 

 

 

 

 

 

132,600

 

AgriBank FCB, WI/DD

 

6.875%

 

 

 

A-

 

13,320,996

 

80,500

 

City National Corporation, WI/DD

 

6.750%

 

 

 

BBB-

 

2,012,500

 

523,200

 

Morgan Stanley

 

7.125%

 

 

 

BB+

 

13,577,040

 

68,553

 

Private Bancorp Incorporated

 

7.125%

 

 

 

N/R

 

1,699,429

 

87,100

 

Regions Financial Corporation

 

6.375%

 

 

 

BB

 

1,994,590

 

153,800

 

Texas Capital Bancshares Inc.

 

6.500%

 

 

 

BB

 

3,423,588

 

38,800

 

U.S. Bancorp

 

6.500%

 

 

 

BBB+

 

1,040,616

 

237,600

 

Wells Fargo & Company

 

5.850%

 

 

 

BBB+

 

5,778,432

 

 

 

Total Commercial Banks

 

 

 

 

 

 

 

42,847,191

 

 

 

Consumer Finance - 0.6%

 

 

 

 

 

 

 

 

 

149,800

 

Discover Financial Services

 

6.500%

 

 

 

BB

 

3,583,216

 

 

 

Diversified Financial Services - 8.6%

 

 

 

 

 

 

 

327,066

 

Citigroup Inc.

 

7.125%

 

 

 

BB+

 

8,474,280

 

15,100

 

Countrywide Capital Trust V

 

7.000%

 

 

 

BB+

 

378,255

 

40,000

 

ING Groep N.V.

 

7.200%

 

 

 

BBB-

 

1,006,400

 

651,000

 

ING Groep N.V.

 

7.375%

 

 

 

BBB-

 

16,431,240

 

840,603

 

ING Groep N.V.

 

8.500%

 

 

 

BBB-

 

21,670,745

 

 

 

Total Diversified Financial Services

 

 

 

 

 

 

 

47,960,920

 

 

 

Food Products - 1.7%

 

 

 

 

 

 

 

 

 

340,000

 

CHS Inc.

 

7.875%

 

 

 

N/R

 

9,727,400

 

 

 

Insurance - 8.1%

 

 

 

 

 

 

 

 

 

100,000

 

Aegon N.V.

 

6.500%

 

 

 

Baa1

 

2,425,000

 

15,000

 

Aegon N.V.

 

8.000%

 

 

 

Baa1

 

405,150

 

43,000

 

Arch Capital Group Limited

 

6.750%

 

 

 

BBB

 

1,041,890

 

432,500

 

Aspen Insurance Holdings Limited

 

5.950%

 

 

 

BBB-

 

10,362,700

 

59,200

 

Aspen Insurance Holdings Limited

 

7.250%

 

 

 

BBB-

 

1,480,592

 

177,623

 

Axis Capital Holdings Limited

 

6.875%

 

 

 

BBB

 

4,342,882

 

299,000

 

Endurance Specialty Holdings Limited

 

7.500%

 

 

 

BBB-

 

7,567,690

 

147,600

 

Hartford Financial Services Group Inc.

 

7.875%

 

 

 

BB+

 

4,259,736

 

400,000

 

Maiden Holdings Limited

 

8.250%

 

 

 

BB

 

10,236,000

 

140,000

 

Reinsurance Group of America Inc.

 

6.200%

 

 

 

BBB

 

3,487,400

 

 

 

Total Insurance

 

 

 

 

 

 

 

45,609,040

 

 

 

Oil, Gas & Consumable Fuels - 0.9%

 

 

 

 

 

 

 

198,600

 

Nustar Logistics Limited Partnership

 

7.625%

 

 

 

B+

 

5,076,216

 

 

 

U.S. Agency - 8.1%

 

 

 

 

 

 

 

 

 

100,000

 

CoBank Agricultural Credit Bank, (3)

 

11.000%

 

 

 

A-

 

5,328,130

 

179,800

 

CoBank Agricultural Credit Bank, 144A, (3)

 

6.250%

 

 

 

A-

 

17,811,438

 

219,900

 

Farm Credit Bank of Texas, 144A, (3)

 

6.750%

 

 

 

Baa1

 

21,983,139

 

 

 

Total U.S. Agency

 

 

 

 

 

 

 

45,122,707

 

 

 

Total $25 Par (or similar) Retail Structures (cost $210,274,470)

 

 

 

 

 

207,214,485

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity

 

Ratings (2)

 

Value

 

 

 

Corporate Bonds - 2.6% (1.8% of Total Investments)

 

 

 

 

 

 

 

 

 

 

 

Diversified Financial Services - 0.5%

 

 

 

 

 

 

 

$     3,025

 

ING US Inc.

 

5.650%

 

5/15/53

 

Ba1

 

$    2,878,693

 

 

 

Insurance - 2.1%

 

 

 

 

 

 

 

 

 

8,430

 

Nationwide Mutual Insurance Company, 144A

 

9.375%

 

8/15/39

 

A-

 

11,758,299

 

$   11,455

 

Total Corporate Bonds (cost $14,464,565)

 

 

 

 

 

 

 

14,636,992

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)/

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Description (1)

 

Coupon

 

Maturity

 

Ratings (2)

 

Value

 

 

 

$1,000 Par (or similar) Institutional Structures - 98.5% (69.8% of Total Investments)

 

 

 

 

 

 

 

Capital Markets - 1.9%

 

 

 

 

 

 

 

 

 

6,509

 

Credit Suisse Group Guernsey I Ltd., Reg S

 

7.875%

 

2/24/41

 

BB+

 

$    7,117,917

 

1,500

 

Deutsche Bank Capital Funding Trust V, 144A

 

4.901%

 

N/A (4)

 

Ba2

 

1,350,000

 

1,972

 

Macquarie PMI LLC

 

8.375%

 

N/A (4)

 

BBB+

 

2,080,460

 

 

 

Total Capital Markets

 

 

 

 

 

 

 

10,548,377

 

 

 

Commercial Banks - 28.8%

 

 

 

 

 

 

 

 

 

4,700

 

Abbey National Capital Trust I

 

8.963%

 

N/A (4)

 

BBB-

 

5,851,500

 

14,310

 

Santander Finance Preferred SAU

 

10.500%

 

N/A (4)

 

BBB+

 

14,605,144

 

13,000

 

Barclays Bank PLC, 144A

 

10.179%

 

6/12/21

 

A-

 

17,211,090

 

12,325

 

BNP Paribas, 144A

 

7.195%

 

N/A (4)

 

BBB

 

12,833,406

 

1,955

 

Commerzbank AG, 144A

 

8.125%

 

9/19/23

 

BBB+

 

2,086,963

 

2,195

 

Fifth Third Bancorp.

 

5.100%

 

N/A (4)

 

BBB-

 

1,975,500

 

8,031

 

HSBC Capital Funding LP, 144A

 

10.176%

 

N/A (4)

 

BBB+

 

11,484,330

 

3,000

 

PNC Financial Services Inc.

 

6.750%

 

N/A (4)

 

BBB

 

3,165,000

 

29,403

 

Rabobank Nederland, 144A

 

11.000%

 

N/A (4)

 

A-

 

38,664,287

 

5,473

 

Royal Bank of Scotland Group PLC

 

7.648%

 

N/A (4)

 

BBB

 

5,691,920

 

9,962

 

Societe Generale, Reg S

 

8.750%

 

N/A (4)

 

BBB-

 

10,565,697

 

29,410

 

Wells Fargo & Company

 

7.980%

 

N/A (4)

 

BBB+

 

33,159,775

 

4,210

 

Zions Bancorporation

 

7.200%

 

N/A (4)

 

BB

 

4,210,000

 

 

 

Total Commercial Banks

 

 

 

 

 

 

 

161,504,612

 

 

 

Diversified Financial Services - 20.3%

 

 

 

 

 

 

 

15,700

 

Agstar Financial Services Inc., 144A

 

6.750%

 

N/A (4)

 

BB

 

15,680,375

 

17,505

 

Bank of America Corporation

 

8.000%

 

N/A (4)

 

BB+

 

19,386,787

 

2,000

 

Bank of America Corporation

 

8.125%

 

N/A (4)

 

BBB-

 

2,235,000

 

3,675

 

Citigroup Inc.

 

5.900%

 

N/A (4)

 

BBB-

 

3,490,089

 

3,710

 

Citigroup Inc.

 

5.950%

 

N/A (4)

 

BB+

 

3,538,413

 

27,940

 

General Electric Capital Corporation

 

7.125%

 

N/A (4)

 

AA-

 

31,153,100

 

5,285

 

JPMorgan Chase & Company

 

6.000%

 

N/A (4)

 

BBB

 

5,113,237

 

30,270

 

JPMorgan Chase & Company

 

7.900%

 

N/A (4)

 

BBB+

 

33,372,675

 

 

 

Total Diversified Financial Services

 

 

 

 

 

 

 

113,969,676

 

 

 

Electric Utilities - 0.4%

 

 

 

 

 

 

 

 

 

2,000

 

Electricite de France, 144A

 

5.250%

 

N/A (4)

 

A3

 

1,966,000

 

 

 

Insurance - 43.9%

 

 

 

 

 

 

 

 

 

1,309

 

AG2R La Mondiale Vie, Reg S

 

7.625%

 

N/A (4)

 

BBB-

 

1,364,328

 

7,781

 

AIG Life Holdings Inc.

 

8.500%

 

7/01/30

 

BBB

 

10,037,490

 

1,890

 

American International Group, Inc.

 

8.175%

 

5/15/58

 

BBB

 

2,329,425

 

3,500

 

Aquarius & Investments PLC Fbo SwissRe

 

8.250%

 

N/A (4)

 

N/R

 

3,832,500

 

18,740

 

Aviva PLC, Reg S

 

8.250%

 

N/A (4)

 

BBB

 

20,637,612

 

5,740

 

AXA SA

 

8.600%

 

12/15/30

 

A3

 

6,986,958

 

34,045

 

Catlin Insurance Company Ltd., 144A

 

7.249%

 

N/A (4)

 

BBB+

 

35,321,687

 

2,640

 

Cloverie PLC Zurich Insurance, Reg S

 

8.250%

 

N/A (4)

 

A

 

3,062,400

 

2,500

 

CNP Assurances

 

7.500%

 

N/A (4)

 

BBB+

 

2,740,571

 

1,900

 

Dai-Ichi Mutual Life, 144A

 

7.250%

 

N/A (4)

 

A3

 

2,166,000

 

36,660

 

Financial Security Assurance Holdings, 144A

 

6.400%

 

12/15/66

 

BBB

 

28,778,100

 

2,424

 

Friends Life Group PLC, Reg S

 

7.875%

 

N/A (4)

 

BBB

 

2,599,740

 

20,955

 

Glen Meadows Pass-Through Trust, 144A

 

6.505%

 

2/12/67

 

BB+

 

20,012,025

 

1,120

 

Great-West Life & Annuity Insurance Capital LP II, 144A

 

7.153%

 

5/16/46

 

A-

 

1,176,000

 

780

 

Lincoln National Corporation

 

7.000%

 

5/17/66

 

BBB

 

805,350

 

16,060

 

MetLife Capital Trust X, 144A

 

9.250%

 

4/08/38

 

BBB

 

20,757,550

 

5,610

 

Provident Financing Trust I

 

7.405%

 

3/15/38

 

BBB+

 

6,154,608

 

825

 

Prudential Financial Inc.

 

5.875%

 

9/15/42

 

BBB+

 

837,375

 

1,000

 

Prudential PLC, Reg S

 

6.500%

 

N/A (4)

 

A-

 

1,002,400

 

5,000

 

Prudential PLC

 

7.750%

 

N/A (4)

 

A-

 

5,382,740

 

22,410

 

QBE Capital Funding Trust II, 144A

 

7.250%

 

5/24/41

 

BBB+

 

23,586,525

 

6,428

 

Reinsurance Group of America Inc.

 

6.750%

 

12/15/65

 

BBB-

 

6,315,510

 

4,000

 

Sompo Japan Insurance, 144A

 

5.325%

 

3/28/73

 

A-

 

4,017,888

 

28,226

 

Symetra Financial Corporation, 144A

 

8.300%

 

10/15/37

 

BB+

 

28,790,520

 

1,485

 

The Allstate Corporation

 

5.750%

 

8/15/53

 

Baa1

 

1,518,413

 

5,990

 

White Mountain Re Group, 144A

 

7.506%

 

N/A (4)

 

BB+

 

6,164,890

 

 

 

Total Insurance

 

 

 

 

 

 

 

246,378,605

 

 

 

Real Estate Investment Trust - 3.1%

 

 

 

 

 

 

13,998

 

Sovereign Real Estate Investment Trust, 144A

 

12.000%

 

N/A (4)

 

Ba1

 

17,634,316

 

 

 

U.S. Agency - 0.1%

 

 

 

 

 

 

 

 

 

502

 

Farm Credit Bank of Texas

 

10.000%

 

N/A (4)

 

Baa1

 

611,028

 

 

 

Total $1,000 Par (or similar) Institutional Structures (cost $541,078,060)

 

 

 

 

 

552,612,614

 

 

 

Total Long-Term Investments (cost $765,817,095)

 

 

 

 

 

 

 

774,464,091

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity 

 

 

 

Value

 

 

 

Short-Term Investments - 3.1% (2.2% of Total Investments)

 

 

 

 

 

 

 

$   17,386

 

Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/31/13, repurchase price $17,385,672, collateralized by $18,375,000 U.S. Treasury Notes, 0.875%, due 7/31/19, value $17,734,742

 

0.000%

 

11/01/13

 

 

 

$    17,385,672

 

 

 

Total Short-Term Investments (cost $17,385,672)

 

 

 

 

 

 

 

17,385,672

 

 

 

Total Investments (cost $783,202,767) - 141.2%

 

 

 

 

 

 

 

791,849,763

 

 

 

Borrowings -  (40.1)%  (5), (6)

 

 

 

 

 

 

 

(225,000,000

)

 

 

Other Assets Less Liabilities - (1.1)%  (7)

 

 

 

 

 

 

 

(5,998,023

)

 

 

Net Assets Applicable to Common Shares - 100%

 

 

 

 

 

 

 

$  560,851,740

 

 

Investments in Derivatives as of October 31, 2013

 

Swaps outstanding:

 

 

 

 

 

Fund

 

 

 

 

 

Fixed Rate

 

 

 

 

 

Unrealized

 

 

 

Notional

 

Pay/Receive

 

 

 

Fixed Rate

 

Payment

 

Effective

 

Termination

 

Appreciation

 

Counterparty

 

Amount

 

Floating Rate

 

Floating Rate Index

 

(Annualized)

 

Frequency

 

Date (8)

 

Date

 

(Depreciation) (7)

 

JPMorgan

 

$   84,375,000

 

Receive

 

1-Month USD-LIBOR

 

1.498%

 

Monthly

 

12/01/14

 

12/01/18

 

$     737,722

 

JPMorgan

 

84,375,000

 

Receive

 

1-Month USD-LIBOR

 

1.995

 

Monthly

 

12/01/14

 

12/01/20

 

1,739,647

 

 

 

$ 168,750,000

 

 

 

 

 

 

 

 

 

 

 

 

 

$  2,477,369

 

 

 

 

Fair Value Measurements

 

 

 

 

 

Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

 

 

 

 

 

Level 1 - Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

 

Level 2 - Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

 

Level 3 - Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

 

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

Long-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

$25 Par (or similar) Retail Structures

 

$

162,091,778

 

$

45,122,707

 

$

 

$

207,214,485

 

 

 

Corporate Bonds

 

 

14,636,992

 

 

14,636,992

 

 

 

$1,000 Par (or similar) Institutional Structures

 

 

552,612,614

 

 

552,612,614

 

 

 

Short-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements

 

 

17,385,672

 

 

17,385,672

 

 

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

Swaps*

 

 

2,477,369

 

 

2,477,369

 

 

 

Total

 

$

162,091,778

 

$

632,235,354

 

$

 

$

794,327,132

 

 

 

 

 

 

* Represents net unrealized appreciation (depreciation).

 

 

 

 

 

Income Tax Information

 

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to recognition of premium amortization, timing differences in the recognition of income and timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

 

As of October 31, 2013, the cost of investments (excluding investments in derivatives) was $784,302,575.

 

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of October 31, 2013, were as follows:

 

 

 

 

 

 

 

 

 

 

 

Gross unrealized:

 

 

 

 

 

Appreciation

 

$

17,662,490

 

 

 

Depreciation

 

(10,115,302

)

 

 

 

 

 

 

 

 

Net unrealized appreciation (depreciation) of investments

 

$

7,547,188

 

 

 

 

 

 

 

 

 

 

 

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.

 

 

(1)

 

All percentages shown in the Portfolio of Investments are based on net assets applicable to shares unless otherwise noted.

 

 

(2)

 

Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

 

 

(3)

 

For fair value measurement disclosure purposes, $25 Par (or similar) Retail Structures classified as Level 2.

 

 

(4)

 

Perpetual security. Maturity date is not applicable.

 

 

(5)

 

The Fund may pledge up to 100% of its eligible investments in the Portfolio of Investments as collateral for Borrowings. As of October 31, 2013, investments with a value of $532,866,267 have been pledged as collateral for Borrowings.

 

 

(6)

 

Borrowings as a percentage of Total Investments is 28.4%.

 

 

(7)

 

Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.

 

 

(8)

 

Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each swap contract.

 

 

N/A

 

Not Applicable.

 

 

WI/DD

 

Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

 

 

144A

 

Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

 

 

Reg S

 

Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States.

USD-LIBOR

 

United States Dollar-London Inter-Bank Offered Rate.

 



 

Item 2. Controls and Procedures.

a.                The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

b.                There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.

 



 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant) Nuveen Preferred and Income Term Fund

 

 

By (Signature and Title)

/s/ Kevin J. McCarthy

 

 

Kevin J. McCarthy

 

 

Vice President and Secretary

 

 

 

Date: December 30, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

By (Signature and Title)

/s/ Gifford R. Zimmerman

 

 

Gifford R. Zimmerman

 

 

Chief Administrative Officer (principal executive officer)

 

 

 

Date: December 30, 2013

 

 

By (Signature and Title)

/s/ Stephen D. Foy

 

 

Stephen D. Foy

 

 

Vice President and Controller (principal financial officer)

 

 

 

Date: December 30, 2013