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:       July 31      

Date of reporting period:  October 31, 2015  

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.

 

 

 

 

 

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Item 1. Schedule of Investments

 

 

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JPI

 

Nuveen Preferred and Income Term Fund
Portfolio of Investments		October 31, 2015 (Unaudited)

 

Shares				Description (1)		Coupon						Ratings (2)				Value
				LONG–TERM INVESTMENTS – 138.2% (99.2% of Total Investments)
				$25 PAR (OR SIMILAR) RETAIL PREFERRED – 42.7% (30.7% of Total Investments)
				Banks – 14.8%
	143,400			AgriBank FCB, (4)			6.875%						BBB+			$	15,003,225
	355,166			Citigroup Inc.			7.125%						BB+				9,791,927
	44,969			Citigroup Inc.			6.875%						BB+				1,238,446
	80,500			City National Corporation			6.750%						Baa2				2,338,525
	163,800			Cobank Agricultural Credit Bank, 144A, (4)			6.250%						BBB+				16,943,063
	37,800			Cobank Agricultural Credit Bank, (4)			6.200%						BBB+				3,880,408
	15,100			Countrywide Capital Trust III			7.000%						BBB–				387,768
	121,300			Fifth Third Bancorp.			6.625%						Baa3				3,384,270
	38,600			PNC Financial Services			6.125%						Baa2				1,075,010
	124,753			Private Bancorp Incorporated			7.125%						N/R				3,388,291
	87,100			Regions Financial Corporation			6.375%						BB				2,264,600
	331,800			Regions Financial Corporation			6.375%						BB				8,786,064
	117,300			Texas Capital Bancshares Inc.			6.500%						Ba2				2,999,361
	38,800			U.S. Bancorp.			6.500%						A3				1,124,424
	182,100			Wells Fargo & Company			6.625%						BBB				5,124,294
	210,100			Zions Bancorporation			6.300%						BB–				5,489,913
				Total Banks													83,219,589
				Capital Markets – 4.1%
	94,900			Goldman Sachs Group, Inc.			5.500%						Ba1				2,362,061
	511,800			Morgan Stanley, (3)			7.125%						Ba1				14,253,630
	235,300			Morgan Stanley			6.875%						Ba1				6,364,865
				Total Capital Markets													22,980,556
				Consumer Finance – 1.0%
	51,300			Capital One Financial Corporation			6.700%						Baa3				1,395,873
	149,800			Discover Financial Services			6.500%						BB–				3,998,162
				Total Consumer Finance													5,394,035
				Diversified Financial Services – 0.4%
	76,800			KKR Financial Holdings LLC			7.375%						BBB				2,032,896
				Diversified Telecommunication Services – 0.3%
	62,000			Verizon Communications Inc.			5.900%						A–				1,649,200
				Electric Utilities – 0.4%
	81,000			Entergy Arkansas Inc., (4)			6.450%						BB+				2,035,125
				Food Products – 3.2%
	267,600			CHS Inc.			7.875%						N/R				7,685,472
	161,100			CHS Inc.			7.100%						N/R				4,459,248
	141,800			CHS Inc.			6.750%						N/R				3,822,928
	20,500			Dairy Farmers of America Inc., 144A, (4)			7.785%						Baa3				2,083,954
				Total Food Products													18,051,602
				Insurance – 10.7%
	15,000			Aegon N.V			8.000%						Baa1				415,200
	168,500			Arch Capital Group Limited			6.750%						BBB+				4,525,910
	59,200			Aspen Insurance Holdings Limited			7.250%						BBB–				1,578,272
	432,500			Aspen Insurance Holdings Limited			5.950%						BBB–				11,024,425
	177,623			Axis Capital Holdings Limited			6.875%						BBB				4,802,926
	61,100			Delphi Financial Group, Inc., (4)			7.376%						BB+				1,504,588
	174,000			Endurance Specialty Holdings Limited			7.500%						BBB–				4,532,700
	147,600			Hartford Financial Services Group Inc.			7.875%						BBB–				4,546,080

 

Nuveen Investments			1

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JPI		Nuveen Preferred and Income Term Fund
		Portfolio of Investments (continued)		October 31, 2015 (Unaudited)

 

Shares				Description (1)		Coupon								Ratings (2)				Value
				Insurance (continued)
	306,800			Kemper Corporation			7.375%								Ba1			$	8,479,952
	323,546			Maiden Holdings Limited			8.250%								BB				8,586,911
	163,333			Maiden Holdings Limited			7.750%								BBB–				4,429,591
	205,000			Reinsurance Group of America Inc.			6.200%								BBB				5,940,900
				Total Insurance															60,367,455
				Oil, Gas & Consumable Fuels – 1.0%
	219,800			Nustar Logistics Limited Partnership			7.625%								Ba2				5,631,276
				Real Estate Investment Trust – 0.5%
	114,600			Wells Fargo REIT			6.375%								BBB+				3,023,148
				Thrifts & Mortgage Finance – 1.5%
	172,400			Federal Agricultural Mortgage Corporation			6.875%								N/R				4,628,940
	146,600			Federal Agricultural Mortgage Corporation			6.000%								N/R				3,774,950
				Total Thrifts & Mortgage Finance															8,403,890
				U.S. Agency – 4.8%
	255,100			Farm Credit Bank of Texas, 144A, (4)			6.750%								Baa1				26,825,372
				Total $25 Par (or similar) Retail Preferred (cost $227,919,067)															239,614,144
Principal Amount (000)				Description (1)		Coupon				Maturity				Ratings (2)				Value
				CORPORATE BONDS – 8.1% (5.8% of Total Investments)
				Banks – 4.5%
$	8,975			Bank of America Corporation			6.250%				3/05/65				BB+			$	9,101,099
	4,250			Credit Agricole, S.A, 144A			6.625%				12/23/64				BB+				4,186,250
	3,650			ING Groep N.V			6.500%				10/16/65				Ba1				3,510,844
	4,760			JPMorgan Chase & Company			5.300%				11/01/65				BBB–				4,774,280
	3,790			Standard Chartered PLC, 144A			6.500%				10/02/65				BBB–				3,740,139
	25,425			Total Banks															25,312,612
				Capital Markets – 1.8%
	9,915			Goldman Sachs Group Inc.			5.375%				11/10/65				Ba1				9,815,850
				Food Products – 0.2%
	1,090			Land O’ Lakes Capital Trust I, 144A			7.450%				3/15/28				BB				1,155,400
				Insurance – 1.6%
	4,430			Nationwide Mutual Insurance Company, 144A			9.375%				8/15/39				A–				6,696,928
	1,965			Security Benefit Life Insurance Company, 144A			7.450%				10/01/33				BBB				2,410,577
	6,395			Total Insurance															9,107,505
$	42,825			Total Corporate Bonds (cost $44,499,273)															45,391,367
Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 87.4% (62.7% of Total Investments)
				Banks – 37.8%
	975			Bank of America Corporation			8.125%				N/A (5)				BB+			$	1,015,307
	6,980			Bank of America Corporation			8.000%				N/A (5)				BB+				7,277,348
	8,915			Bank of America Corporation			6.500%				N/A (5)				BB+				9,316,264
	4,000			Barclays Bank PLC, 144A			10.180%				6/12/21				A–				5,252,520
	11,760			Barclays PLC			8.250%				N/A (5)				BB+				12,520,931
	1,300			Citigroup Inc.			5.950%				N/A (5)				BB+				1,297,453
	8,645			Citigroup Inc.			5.875%				N/A (5)				BB+				8,556,475
	8,060			Citigroup Inc.			5.800%				N/A (5)				BB+				8,009,625

 

	2			Nuveen Investments

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Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				Banks (continued)
	4,540			Citizens Financial Group Inc., 144A			5.500%				N/A (5)				BB+			$	4,460,550
	4,265			Commerzbank AG, 144A			8.125%				9/19/23				BBB–				4,938,529
	1,050			Credit Agricole SA, 144A			7.875%				N/A (5)				BB+				1,077,429
	2,340			General Electric Capital Corporation			6.250%				N/A (5)				Baa1				2,608,164
	18,300			General Electric Capital Corporation			7.125%				N/A (5)				Baa1				21,502,500
	4,351			HSBC Capital Funding LP, Debt, 144A			10.176%				N/A (5)				Baa1				6,570,010
	4,005			HSBC Holdings PLC			6.375%				N/A (5)				BBB				3,966,993
	2,400			HSBC Holdings PLC			6.375%				N/A (5)				BBB				2,370,000
	3,945			Intesa Sanpaolo SpA, 144A			7.700%				N/A (5)				Ba3				3,989,381
	11,405			JPMorgan Chase & Company			6.750%				N/A (5)				BBB–				12,374,425
	5,375			JPMorgan Chase & Company			7.900%				N/A (5)				BBB–				5,584,625
	18,920			Lloyd’s Banking Group PLC			7.500%				N/A (5)				BB+				20,102,500
	2,110			M&T Bank Corporation			6.450%				N/A (5)				Baa2				2,253,083
	4,390			Nordea Bank AB, 144A			6.125%				N/A (5)				BBB				4,335,125
	4,855			PNC Financial Services Inc.			6.750%				N/A (5)				Baa2				5,232,282
	5,473			Royal Bank of Scotland Group PLC			7.648%				N/A (5)				BB				6,813,885
	3,480			Royal Bank of Scotland Group PLC			7.500%				N/A (5)				BB–				3,601,800
	14,900			Societe Generale, 144A			7.875%				N/A (5)				BB+				14,946,637
	2,695			SunTrust Bank Inc.			5.625%				N/A (5)				Baa3				2,718,581
	14,652			Wells Fargo & Company			7.980%				N/A (5)				BBB				15,604,380
	6,820			Wells Fargo & Company			5.875%				N/A (5)				BBB				7,213,514
	6,017			Zions Bancorporation			7.200%				N/A (5)				BB–				6,483,318
				Total Banks															211,993,634
				Capital Markets – 6.1%
	3,500			Bank of New York Mellon Corporation			4.950%				N/A (5)				Baa1				3,500,000
	18,057			Credit Suisse Group AG, 144A			7.500%				N/A (5)				BB+				19,062,594
	725			Deutsche Bank AG			7.500%				N/A (5)				BB+				690,563
	3,100			Morgan Stanley			5.550%				N/A (5)				Ba1				3,096,125
	2,105			State Street Corporation			5.250%				N/A (5)				Baa1				2,112,578
	5,735			UBS Group AG, Reg S			7.125%				N/A (5)				BB+				5,978,967
				Total Capital Markets															34,440,827
				Consumer Finance – 2.4%
	250			Ally Financial Inc., 144A			7.000%				N/A (5)				B				254,789
	3,635			American Express Company			5.200%				N/A (5)				Baa2				3,635,000
	2,000			American Express Company			4.900%				N/A (5)				Baa2				1,940,000
	7,600			Capital One Financial Corporation			5.550%				N/A (5)				Baa3				7,614,250
				Total Consumer Finance															13,444,039
				Diversified Financial Services – 10.1%
	15,700			Agstar Financial Services Inc., 144A			6.750%				N/A (5)				BB				16,686,156
	2,185			Banco BTG Pactual SA/Luxembourg, 144A			8.750%				N/A (5)				B2				1,979,610
	4,330			BNP Paribas, 144A			7.375%				N/A (5)				BBB–				4,481,550
	6,040			BNP Paribas, 144A			7.195%				N/A (5)				BBB				6,915,800
	4,500			Depository Trust & Clearing Corporation, 144A, (3)			4.875%				N/A (5)				A+				4,522,500
	16,188			Rabobank Nederland, 144A			11.000%				N/A (5)				Baa2				20,133,203
	1,697			Voya Financial Inc.			5.650%				5/15/53				Baa3				1,718,213
				Total Diversified Financial Services															56,437,032
				Food Products – 1.6%
	8,895			Land O’ Lakes Incorporated, 144A			8.000%				N/A (5)				BB				9,161,850
				Insurance – 24.6%
	2,850			Aquarius & Investments PLC fbo SwissRe, Reg S			8.250%				N/A (5)				N/R				3,101,282
	7,215			Aviva PLC, Reg S			8.250%				N/A (5)				BBB				7,884,768
	1,265			AXA SA			8.600%				12/15/30				A3				1,732,266
	7,930			Catlin Insurance Company Limited, 144A			7.249%				N/A (5)				BBB+				6,799,975
	2,640			Cloverie PLC Zurich Insurance, Reg S			8.250%				N/A (5)				A				2,960,100
	2,500			CNP Assurances, Reg S			7.500%				N/A (5)				BBB+				2,737,335

 

Nuveen Investments			3

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JPI		Nuveen Preferred and Income Term Fund
		Portfolio of Investments (continued)		October 31, 2015 (Unaudited)

 

Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				Insurance (continued)
	30,995			Financial Security Assurance Holdings, 144A			6.400%				12/15/66				BBB+			$	22,626,350
	2,424			Friends Life Group PLC, Reg S			7.875%				N/A (5)				A–				2,704,714
	720			Glen Meadows Pass Through Trust, 144A			6.505%				2/12/67				BBB–				622,800
	2,299			La Mondiale SAM, Reg S			7.625%				N/A (5)				BBB				2,491,541
	5,430			MetLife Capital Trust X, 144A			9.250%				4/08/38				BBB				7,548,786
	3,655			MetLife Inc.			5.250%				N/A (5)				BBB				3,689,266
	7,703			Provident Financing Trust I			7.405%				3/15/38				Baa3				8,709,243
	3,325			Prudential Financial Inc.			5.875%				9/15/42				BBB+				3,524,500
	14,600			QBE Cap Funding III Limited, 144A			7.250%				5/24/41				BBB				16,169,500
	2,135			QBE Insurance Group Limited, Reg S			6.750%				12/02/44				BBB				2,209,725
	16,685			Sirius International Group Limited, 144A			7.506%				N/A (5)				BBB–				16,851,849
	25,226			Symetra Financial Corporation, 144A			8.300%				10/15/37				BBB–				25,793,584
				Total Insurance															138,157,584
				Machinery – 0.2%
	1,095			Stanley Black & Decker Inc.			5.750%				12/15/53				BBB+				1,157,963
				Metals & Mining – 0.9%
	5,200			BHP Billiton Finance USA Limited, 144A			6.250%				10/19/75				A–				5,323,500
				Real Estate Investment Trust – 3.5%
	15,298			Sovereign Real Estate Investment Trust, 144A			12.000%				N/A (5)				Ba1				19,428,460
				U.S. Agency – 0.2%
	752			Farm Credit Bank of Texas, 144A			10.000%				N/A (5)				Baa1				947,520
				Total $1,000 Par (or similar) Institutional Preferred (cost $481,693,225)															490,492,409
				Total Long-Term Investments (cost $754,111,565)															775,497,920
Principal Amount (000)				Description (1)		Coupon				Maturity								Value
				SHORT-TERM INVESTMENTS – 1.1% (0.8% of Total Investments)
				REPURCHASE AGREEMENTS – 1.1% (0.8% of Total Investments)
$	6,457			Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/30/15, repurchase price $6,456,622, collateralized by $6,640,000 U.S. Treasury Notes, 1.750%, due 9/30/22, value $6,590,200			0.000%				11/02/15							$	6,456,622
				Total Short-Term Investments (cost $6,456,622)															6,456,622
				Total Investments (cost $760,568,187) – 139.3%															781,954,542
				Borrowings – (40.1)% (6), (7)															(225,000,000	)
				Other Assets Less Liabilities – 0.8% (8)															4,249,417
				Net Assets Applicable to Common Shares – 100%														$	561,203,959

Investments in Derivatives as of October 31, 2015

Interest Rate Swaps Outstanding:

 

Counterparty		Notional Amount				Fund Pay/Receive Floating Rate				Floating Rate Index				Fixed Rate (Annualized)				Fixed Rate Payment Frequency				Effective Date (9)				Termination Date				Unrealized Appreciation (Depreciation)
JPMorgan		$	84,375,000				Receive				1-Month USA-LIBOR-ICE				1.735	%			Monthly				12/01/15				12/01/20			$	(2,565,603	)
JPMorgan			84,375,000				Receive				1-Month USA-LIBOR-ICE				2.188				Monthly				12/01/15				12/01/22				(4,302,308	)
		$	168,750,000																											$	(6,867,911	)

 

	4			Nuveen Investments

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Fair Value Measurements

Fair value is defined as the price that would be received 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 Preferred		$	171,338,409			$	68,275,735			$	—			$	239,614,144
Corporate Bonds			—				45,391,367				—				45,391,367
$1,000 Par (or similar) Institutional Preferred			—				490,492,409				—				490,492,409
Short-Term Investments:
Repurchase Agreements			—				6,456,622				—				6,456,622
Investments in Derivatives:
Interest Rate Swaps*			—				(6,867,911	)			—				(6,867,911	)
Total		$	171,338,409			$	603,748,222			$	—			$	775,086,631

*	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 on REIT investments 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, 2015, the cost of investments (excluding investments in derivatives) was $759,793,865.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of October 31, 2015, were as follows:

 

Gross unrealized:
Appreciation		$	26,760,260
Depreciation			(4,599,583	)
Net unrealized appreciation (depreciation) of investments		$	22,160,677

 

Nuveen Investments			5

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JPI		Nuveen Preferred and Income Term Fund
		Portfolio of Investments (continued)		October 31, 2015 (Unaudited)

 

 

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 common 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)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.

 

(4)	For fair value measurement disclosure purposes, investment classified as Level 2.

 

(5)	Perpetual security. Maturity date is not applicable.

 

(6)

The Fund may pledge up to 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) as collateral for borrowings. As of the end of the reporting period, investments with a value of $505,609,308 have been pledged as collateral for borrowings.

 

(7)	Borrowings as a percentage of Total Investments is 28.8%.

 

(8)

Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter derivatives as presented on the Statement of Assets and Liabilities. The unrealized appreciation (depreciation) of exchange-cleared and exchange-traded derivatives, when applicable. Other assets less liabilities alson includes the value of options.

 

(9)	Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.

 

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.

 

REIT	Real Estate Investment Trust

 

USD-LIBOR-ICE

United States Dollar – London Inter-Bank Offered Rate – Intercontinental Exchange

 

	6			Nuveen Investments

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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.

 

 

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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, 2015

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, 2015
By (Signature and Title)		/s/ Stephen D. Foy
		Stephen D. Foy
		Vice President and Controller (principal financial officer)
Date: December 30, 2015