JPMorgan Chase Bank, National Association filed an amended Schedule 13G reporting beneficial ownership of 1,349 Series 5 Variable Rate Demand Preferred Shares of Nuveen California Quality Municipal Income Fund, representing 14.86% of the fund’s preferred shares based on issuer data.
JPMorgan reports no sole voting power over these shares, with shared voting power over 1,349 shares and sole dispositive power over 1,349 shares. Certain voting rights were assigned to a voting trust that follows recommendations from a voting consultant, while JPMorgan retained other voting and all dispositive rights. JPMorgan acquired the VRDP shares in June 2020 and deposited 100% into a tender option bond trust, which holds title but does not control voting or disposition. The position is certified as being held in the ordinary course of business and not for the purpose of influencing control of the fund.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Nuveen California Quality Municipal Income Fund
(Name of Issuer)
Series 5 Variable Rate Demand Preferred Shares
(Title of Class of Securities)
67066Y873
(CUSIP Number)
12/17/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
67066Y873
1
Names of Reporting Persons
JPMorgan Chase Bank, National Association
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,349.00
7
Sole Dispositive Power
1,349.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,349.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
14.86 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Nuveen California Quality Municipal Income Fund
(b)
Address of issuer's principal executive offices:
333 W. Wacker Drive; Suite 3200, Chicago, IL 60606
Item 2.
(a)
Name of person filing:
JPMorgan Chase Bank, National Association ("JPM")
(b)
Address or principal business office or, if none, residence:
1111 Polaris Parkway Columbus, OH 43240
(c)
Citizenship:
United States of America
(d)
Title of class of securities:
Series 5 Variable Rate Demand Preferred Shares
(e)
CUSIP No.:
67066Y873
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1,349
(b)
Percent of class:
14.86%*
* Represents percentage ownership of VRDP Shares as a percentage of all preferred shares outstanding and is calculated based on information suppled by the issuer.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
1,349**
** On June 18, 2020 JPM assigned certain preferred class voting rights on the VRDP Shares to a voting trust (the "Voting Trust") created pursuant to the Voting Trust Agreement, dated June 18, 2020 among JPM, Lord Securities Corporation, as trustee (the "Voting Trustee") and Institutional Shareholder Services Inc. (the "Voting Consultant"). Voting and consent rights on the VRDP Shares not assigned to the Voting Trust have been retained by JPM. The Voting Trust provides that with respect to voting or consent matters relating to the voting rights assigned to the Voting Trust, the Voting Consultant analyzes such voting or consent matters and makes a recommendation to the Voting Trustee on voting or consenting. The Voting Trustee is obligated to follow any such recommendations of the Voting Consultant when providing a vote or consent.
(iii) Sole power to dispose or to direct the disposition of:
1,349
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
On June 18, 2020 JPM acquired the VRDP Shares from the issuer and on June 25, 2020 JPM deposited 100% of the VRDP Shares into a tender option bond trust (a "TOB") named J.P. Morgan Taxable Putters/Taxable Drivers, Series 5038 Trust. The TOB has title to 100% of the VRDP Shares but does not have the power to dispose or direct the disposition of the VRDP Shares. No voting rights on the VRDP Shares have been transferred to the TOB and voting rights on the VRDP Shares are retained by JPM and the Voting Trust as described in Item 4.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What does JPMorgan report in this Schedule 13G/A for NAC?
JPMorgan Chase Bank, National Association reports beneficial ownership of 1,349 Series 5 Variable Rate Demand Preferred Shares of Nuveen California Quality Municipal Income Fund, representing 14.86% of the preferred share class.
What percentage of Nuveen California Quality Municipal Income Fund’s preferred shares does JPMorgan own?
JPMorgan reports owning 14.86% of the fund’s Series 5 Variable Rate Demand Preferred Shares, based on information supplied by the issuer.
How much voting and dispositive power does JPMorgan have over the NAC preferred shares?
JPMorgan reports 0 shares with sole voting power, 1,349 shares with shared voting power, 1,349 shares with sole dispositive power, and 0 shares with shared dispositive power.
What is the role of the voting trust mentioned in the NAC Schedule 13G/A?
On June 18, 2020, JPMorgan assigned certain voting rights on the VRDP shares to a voting trust. A voting consultant analyzes voting matters and recommends how to vote, and the voting trustee is obligated to follow those recommendations.
How are the NAC VRDP shares held by JPMorgan structured?
JPMorgan acquired the VRDP shares on June 18, 2020 and on June 25, 2020 deposited 100% of the VRDP shares into a tender option bond trust named J.P. Morgan Taxable Putters/Taxable Drivers, Series 5038 Trust, which holds title but does not control voting or disposition.
Is JPMorgan seeking to influence control of Nuveen California Quality Municipal Income Fund?
The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of the issuer.
