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:  April 30, 2016  

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		April 30, 2016 (Unaudited)

 

Shares				Description (1)		Coupon						Ratings (2)				Value
				LONG-TERM INVESTMENTS – 138.0% (98.3% of Total Investments)
				$25 PAR (OR SIMILAR) RETAIL PREFERRED – 44.2% (31.4% of Total Investments)
				Banks – 14.1%
	143,400			AgriBank FCB, (3)			6.875%						BBB+			$	15,231,776
	355,166			Citigroup Inc.			7.125%						BB+				9,930,440
	44,969			Citigroup Inc.			6.875%						BB+				1,240,695
	163,800			Cobank Agricultural Credit Bank, (3)			6.250%						BBB+				16,779,263
	37,800			Cobank Agricultural Credit Bank, (3)			6.200%						BBB+				3,802,446
	15,100			Countrywide Capital Trust III			7.000%						BBB–				384,899
	103,100			Fifth Third Bancorp.			6.625%						Baa3				3,020,830
	38,600			PNC Financial Services			6.125%						Baa2				1,115,926
	124,753			Private Bancorp Incorporated			7.125%						N/R				3,400,767
	87,100			Regions Financial Corporation			6.375%						BB				2,282,020
	331,800			Regions Financial Corporation			6.375%						BB				9,111,228
	19,600			U.S. Bancorp.			6.500%						A3				579,376
	182,100			Wells Fargo & Company			6.625%						BBB				5,302,752
	162,300			Zions Bancorporation			6.300%						BB–				4,354,509
				Total Banks													76,536,927
				Capital Markets – 4.4%
	94,900			Goldman Sachs Group, Inc.			5.500%						Ba1				2,384,837
	461,300			Morgan Stanley			7.125%						Ba1				13,262,375
	235,300			Morgan Stanley			6.875%						Ba1				6,456,632
	42,300			Northern Trust Corporation			5.850%						BBB+				1,142,523
	54,750			State Street Corporation			5.350%						Baa1				1,439,378
				Total Capital Markets													24,685,745
				Consumer Finance – 0.9%
	149,800			Discover Financial Services			6.500%						BB–				3,962,210
	27,607			GMAC Capital Trust I			8.125%						B+				690,283
				Total Consumer Finance													4,652,493
				Diversified Financial Services – 0.4%
	76,800			KKR Financial Holdings LLC			7.375%						BBB				2,008,320
				Electric Utilities – 0.4%
	81,000			Entergy Arkansas Inc., (3)			6.450%						Baa3				2,040,188
				Food Products – 3.8%
	267,600			CHS Inc., (4)			7.875%						N/R				7,543,644
	161,100			CHS Inc.			7.100%						N/R				4,468,914
	141,800			CHS Inc.			6.750%						N/R				3,786,060
	24,000			Dairy Farmers of America Inc., 144A, (3)			7.875%						Baa3				2,547,750
	20,500			Dairy Farmers of America Inc., 144A, (3)			7.875%						Baa3				2,105,735
				Total Food Products													20,452,103
				Insurance – 12.0%
	15,000			Aegon N.V			8.000%						Baa1				402,450
	168,500			Arch Capital Group Limited			6.750%						BBB+				4,439,975
	59,200			Aspen Insurance Holdings Limited			7.250%						BBB–				1,564,656
	432,500			Aspen Insurance Holdings Limited			5.950%						BBB–				11,526,125
	177,623			Axis Capital Holdings Limited			6.875%						BBB				4,683,919
	61,100			Delphi Financial Group, Inc., (3)			7.376%						BB+				1,479,769
	174,000			Endurance Specialty Holdings Limited			7.500%						BBB–				4,428,300
	147,600			Hartford Financial Services Group Inc.			7.875%						BBB–				4,689,252
	409,700			Kemper Corporation			7.375%						Ba1				11,123,355
	323,546			Maiden Holdings Limited			8.250%						BB				8,480,140
	163,333			Maiden Holdings NA Limited			7.750%						BBB–				4,377,324
	205,000			Reinsurance Group of America Inc.			6.200%						BBB				6,016,750
	74,800			Torchmark Corporation			6.125%						BBB+				1,911,140
				Total Insurance													65,123,155

 

Nuveen Investments			1

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JPI		Nuveen Preferred and Income Term Fund
		Portfolio of Investments (continued)		April 30, 2016 (Unaudited)

 

Shares				Description (1)		Coupon								Ratings (2)				Value
				Oil, Gas & Consumable Fuels – 1.0%
	219,800			Nustar Logistics Limited Partnership			7.625%								Ba2			$	5,396,090
				Real Estate Investment Trust – 0.6%
	114,600			Wells Fargo REIT			6.375%								BBB+				3,132,018
				Thrifts & Mortgage Finance – 1.5%
	172,400			Federal Agricultural Mortgage Corporation			6.875%								N/R				4,603,080
	146,600			Federal Agricultural Mortgage Corporation			6.000%								N/R				3,858,512
				Total Thrifts & Mortgage Finance															8,461,592
				U.S. Agency – 5.1%
	255,100			Farm Credit Bank of Texas, (3)			6.750%								Baa1				27,463,122
				Total $25 Par (or similar) Retail Preferred (cost $226,863,015)															239,951,753
Principal Amount (000)				Description (1)		Coupon				Maturity				Ratings (2)				Value
				CORPORATE BONDS – 10.7% (7.6% of Total Investments)
				Banks – 7.2%
$	6,330			Bank of America Corporation			6.250%				3/05/65				BB+			$	6,353,737
	2,850			Bank of America Corporation			6.300%				3/10/66				BB+				2,985,375
	5,390			ING Groep N.V			6.500%				10/16/65				BBB–				4,962,169
	14,110			JPMorgan Chase & Company			6.750%				12/31/49				BBB–				15,610,599
	6,910			JPMorgan Chase & Company			5.300%				11/01/65				BBB–				6,910,000
	2,110			M&T Bank Corporation			6.450%				12/31/49				Baa2				2,278,800
	37,700			Total Banks															39,100,680
				Capital Markets – 2.1%
	11,735			Goldman Sachs Group Inc.			5.375%				11/10/65				Ba1				11,324,275
				Diversified Financial Services – 0.6%
	3,360			BNP Paribas, 144A			7.625%				3/30/66				BBB–				3,444,000
				Food Products – 0.2%
	1,090			Land O Lakes Capital Trust I, 144A, (4)			7.450%				3/15/28				BB+				1,174,475
				Insurance – 0.6%
	2,600			Security Benefit Life Insurance Company, 144A			7.450%				10/01/33				BBB				3,126,794
$	56,485			Total Corporate Bonds (cost $57,332,380)															58,170,224
Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 83.1% (59.3% of Total Investments)
				Banks – 28.7%
	600			Banco Santander SA, Reg S			6.375%				N/A (5)				Ba1			$	546,069
	6,125			Bank of America Corporation			6.500%				N/A (5)				BB+				6,446,563
	3,436			Bank of America Corporation			8.000%				N/A (5)				BB+				3,350,100
	4,000			Barclays Bank PLC, 144A, (4)			10.180%				6/12/21				A–				5,083,364
	17,850			Barclays PLC			8.250%				N/A (5)				BB+				17,895,232
	8,120			Citigroup Inc.			6.250%				N/A (5)				BB+				8,251,950
	1,940			Citigroup Inc.			6.250%				N/A (5)				BB+				1,995,775
	8,435			Citigroup Inc.			5.875%				N/A (5)				BB+				8,159,176
	4,540			Citizens Financial Group Inc.,			5.500%				N/A (5)				BB+				4,335,700
	4,895			Cobank Agricultural Credit Bank			6.250%				N/A (5)				BBB+				5,066,325
	4,265			Commerzbank AG, 144A			8.125%				9/19/23				BBB				5,006,470
	490			Credit Agricole SA, 144A			8.125%				N/A (5)				BB+				505,925
	4,250			Credit Agricole, S.A, 144A			6.625%				N/A (5)				BB+				4,005,625
	4,351			HSBC Capital Funding LP, Debt, 144A			10.176%				N/A (5)				Baa1				6,390,531
	4,005			HSBC Holdings PLC			6.375%				N/A (5)				BBB				3,789,730

 

	2			Nuveen Investments

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Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				Banks (continued)
	2,400			HSBC Holdings PLC			6.375%				N/A (5)				BBB			$	2,318,160
	7,485			Intesa Sanpaolo Spa, 144A			7.700%				N/A (5)				Ba3				6,914,269
	18,920			Lloyd’s Banking Group PLC			7.500%				N/A (5)				BB+				18,759,180
	4,390			Nordea Bank AB, 144A			6.125%				N/A (5)				BBB				4,235,472
	4,855			PNC Financial Services Inc.			6.750%				N/A (5)				Baa2				5,370,844
	5,473			Royal Bank of Scotland Group PLC			7.648%				N/A (5)				BB				6,376,045
	7,290			Royal Bank of Scotland Group PLC			7.500%				N/A (5)				BB–				6,797,925
	14,900			Societe Generale, 144A			7.875%				N/A (5)				BB+				14,147,550
	3,790			Standard Chartered PLC, 144A			6.500%				N/A (5)				BBB–				3,496,275
	2,695			SunTrust Bank Inc.			5.625%				N/A (5)				Baa3				2,668,050
	270			U.S. Bancorp.			5.125%				N/A (5)				A3				276,075
	3,667			Zions Bancorporation			7.200%				N/A (5)				BB–				3,887,020
				Total Banks															156,075,400
				Capital Market – 4.7%
	3,500			Bank of New York Mellon Corporation			4.950%				N/A (5)				Baa1				3,494,925
	9,407			Credit Suisse Group AG, 144A			7.500%				N/A (5)				BB+				9,343,446
	3,100			Morgan Stanley			5.550%				N/A (5)				Ba1				3,069,000
	2,105			State Street Corporation			5.250%				N/A (5)				Baa1				2,144,995
	7,512			UBS Group AG, Reg S			7.125%				N/A (5)				BB+				7,624,680
				Total Capital Market															25,677,046
				Consumer Finance – 2.3%
	3,635			American Express Company			5.200%				N/A (5)				Baa2				3,444,163
	2,000			American Express Company			4.900%				N/A (5)				Baa2				1,800,000
	7,600			Capital One Financial Corporation			5.500%				N/A (5)				Baa3				7,543,000
				Total Consumer Finance															12,787,163
				Diversified Financial Services – 8.7%
	15,700			Agstar Financial Services Inc., 144A			6.750%				N/A (5)				BB				17,461,344
	4,330			BNP Paribas, 144A			7.375%				N/A (5)				BBB–				4,275,875
	6,040			BNP Paribas, 144A			7.195%				N/A (5)				BBB				6,560,950
	2,500			Depository Trust & Clearing Corporation			4.875%				N/A (5)				A+				2,500,000
	12,143			Rabobank Nederland, 144A			11.000%				N/A (5)				Baa2				14,798,672
	1,697			Voya Financial Inc.			5.650%				5/15/53				Baa3				1,589,240
				Total Diversified Financial Services															47,186,081
				Food Products – 1.9%
	8,895			Land O’ Lakes Incorporated, 144A			8.000%				N/A (5)				BB				9,161,850
	1,275			Land O’Lakes Inc., 144A			8.000%				N/A (5)				BB				1,294,125
				Total Food Products															10,455,975
				Industrial Conglomerates – 4.6%
	24,127			General Electric Company			5.000%				N/A (5)				AA–				25,061,921
				Insurance – 22.9%
	7,215			Aviva PLC, Reg S			8.250%				N/A (5)				BBB				7,909,760
	1,265			AXA SA, (4)			8.600%				12/15/30				A3				1,695,467
	2,640			Cloverie PLC Zurich Insurance, Reg S			8.250%				N/A (5)				A				2,908,620
	2,500			CNP Assurances, Reg S			7.500%				N/A (5)				BBB+				2,740,610
	30,995			Financial Security Assurance Holdings, (4)			6.400%				11/26/18				BBB+				21,386,550
	2,424			Friends Life Holdings PLC, Reg S			7.875%				N/A (5)				A–				2,675,718
	2,299			La Mondiale SAM, Reg S			7.625%				N/A (5)				BBB				2,463,126
	4,380			MetLife Capital Trust X, 144A			9.250%				3/15/38				BBB				5,978,700
	3,655			MetLife Inc.			5.250%				N/A (5)				BBB				3,558,874
	7,703			Provident Financing Trust I, (4)			7.405%				3/15/38				Baa3				8,794,507
	3,325			Prudential Financial Inc., (4)			5.875%				9/15/42				BBB+				3,593,494
	13,600			QBE Cap Funding III Limited, 144A, (4)			7.250%				5/24/41				BBB				14,908,864
	1,935			QBE Insurance Group Limited, Reg S			6.750%				12/2/44				BBB				2,080,125
	19,020			Sirius International Group Limited, 144A			7.506%				N/A (5)				BB+				18,687,150
	25,226			Symetra Financial Corporation, 144A, (4)			8.300%				10/15/37				Baa2				25,162,935
				Total Insurance															124,544,500

 

Nuveen Investments			3

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JPI		Nuveen Preferred and Income Term Fund
		Portfolio of Investments (continued)		April 30, 2016 (Unaudited)

 

Principal Amount (000)/ Shares				Description (1)		Coupon				Maturity				Ratings (2)				Value
				Machinery – 0.4%
	2,345			Stanley Black & Decker Inc.			5.750%				12/15/53				BBB+			$	2,465,181
				Metals & Mining – 1.2%
	6,170			BHP Billiton Finance USA Limited, 144A			6.250%				10/19/75				A–				6,447,650
				Real Estate Investment Trust – 6.9%
	12,298			Sovereign Real Estate Investment Trust, 144A			12.000%				12/31/49				Ba1				15,003,560
	14,652			Wells Fargo & Company			7.980%				N/A (5)				BBB				15,238,080
	6,820			Wells Fargo & Company			5.875%				N/A (5)				BBB				7,284,613
				Total Real Estate Investment Trust															37,526,253
				Specialty Retail – 0.6%
	2,850			Aquarius & Investments PLC fbo SwissRe, Reg S			8.250%				N/A (5)				N/R				3,101,188
				U.S. Agency – 0.2%
	752			Farm Credit Bank of Texas, 144A			10.000%				N/A (5)				Baa1				924,020
				Total $1,000 Par (or similar) Institutional Preferred (cost $451,049,103)															452,252,378
				Total Long-Term Investments (cost $748,037,787)															750,374,355
Principal Amount (000)				Description (1)		Coupon				Maturity								Value
				SHORT-TERM INVESTMENTS – 2.4% (1.7% of Total Investments)
				REPURCHASE AGREEMENTS – 2.4% (1.7% of Total Investments)
$	12,793			Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/29/16, repurchase price $12,793,321, collateralized by $12,595,000 U.S. Treasury Notes, 2.125%, due 5/15/25, value $13,051,569			0.030%				5/02/16							$	12,793,289
				Total Short-Term Investments (cost $12,793,289)															12,793,289
				Total Investments (cost $748,037,787) – 140.4%															763,167,644
				Borrowings – (41.4)% (6), (7)															(225,000,000	)
				Other Assets Less Liabilities – 1.0% (8)															5,254,379
				Net Assets Applicable to Common Shares – 100%														$	543,422,023

Investments in Derivatives as of April 30, 2016

 

Counterparty		Notional Amount				Fund Pay/Receive Floating Rate				Floating Rate Index		Fixed Rate (Annualized)				Fixed Rate Payment Frequency				Effective Date (9)				Optional Termination Date				Termination Date				Value				Unrealized Appreciation (Depreciation)
JPMorgan Chase Bank, N.A.		$	84,375,000				Receive			1-Month USD-LIBOR-ICE			1.735	%			Monthly				6/01/16				12/01/18				12/01/20			$	(3,038,987	)		$	(3,539,777	)
JPMorgan Chase Bank, N.A.			84,375,000				Receive			1-Month USD-LIBOR-ICE			2.188				Monthly				6/01/16				12/01/20				12/01/22				(5,631,733	)			(6,325,132	)
		$	168,750,000																													$	(8,670,720	)		$	(9,864,909	)

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.

 

	4			Nuveen Investments

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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 risk 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		$	168,501,704			$	71,450,049			$	—			$	239,951,753
Corporate Bonds			—				58,170,224				—				58,170,224
$1,000 Par (or similar) Institutional Preferred			—				452,252,378				—				452,252,378
Short-Term Investments:
Repurchase Agreements			—				12,793,289				—				12,793,289
Investments in Derivatives:
Interest Rate Swaps*			—				(9,864,909	)			—				(9,864,909	)
Total		$	168,501,705			$	584,801,031			$	—			$	753,302,735

*	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 recognizing of premium amortization, timing differences in recognition of income on REIT investments and timing difference in 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 April 30, 2016, the cost of investments (excluding investments in derivatives) was $747,228,808.

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of April 30, 2016, were as follows:

 

Gross unrealized:
Appreciation		$	28,869,617
Depreciation			(12,930,781	)
Net unrealized appreciation (depreciation) of investments		$	15,938,836

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

 

(4)	Investment, or a portion of investment, is hypothecated. The total value of investments hypothecated as of the end of the reporting period was $68,661,515.

 

(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 $517,776,966 have been pledged as collateral for borrowings.

 

(7)	Borrowings as a percentage of Total Investments is 29.5%.

 

(8)

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

 

Nuveen Investments			5

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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: June 29, 2016

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: June 29, 2016
By (Signature and Title)		/s/ Stephen D. Foy
		Stephen D. Foy
		Vice President and Controller (principal financial officer)
Date: June 29, 2016