Nuveen (NYSE: NPV) to merge NPV and NMS into NZF; shareholders to vote

Rhea-AI Filing Summary

Nuveen Virginia Quality Municipal Income Fund announced a proposed merger to combine NPV and Nuveen Minnesota Quality Municipal Income Fund (NMS) into Nuveen Municipal Credit Income Fund (NZF). The mergers are conditioned on shareholder approval and other customary conditions, and detailed proxy materials are expected to be filed in the coming weeks. If approved, shareholders of NPV and NMS would no longer retain their funds' state-specific tax exemption because NZF is a national municipal fund; each merger may close independently of the other.

Insights

Corporate Finance Analyst

Merger restructures three closed-end municipal funds into a single national vehicle.

The proposal combines NPV and NMS into NZF, which changes the tax profile for state-specific shareholders because NZF is a national municipal fund. The transactions are conditioned on shareholder approvals and other customary conditions.

Key investor items: proxy materials will contain voting details and the merger terms; timing and vote outcomes will determine whether and when the tax profile changes.

Tax & Municipal-Bond Specialist

Shareholders of state-specific funds may lose state tax exemption if mergers close.

NPV and NMS currently seek income exempt from federal and a single state; NZF seeks federal-only exemption. Shareholders should note the change in tax treatment tied to the merger outcome.

Watch the forthcoming proxy materials for precise tax-relevant mechanics and any transition provisions.

Key Figures

Registration Number: 333-282564 Supplement Date: April 30, 2026 Funds to combine: 2 funds

3 metrics

Registration Number 333-282564 prospectus supplement cover

Supplement Date April 30, 2026 date of the prospectus supplement

Funds to combine 2 funds NPV and NMS to be merged into NZF

Key Terms

state-specific municipal fund, national municipal fund, proxy materials, forward-looking statements

4 terms

state-specific municipal fund financial

"each fund is a state-specific municipal fund that seeks to provide current income exempt from regular federal income tax and the income tax of a single state"

national municipal fund financial

"NZF, which is a national municipal fund that seeks to provide current income exempt from regular federal income tax"

proxy materials regulatory

"Detailed information on the proposed mergers will be contained in proxy materials expected to be filed"

Proxy materials are the packet of documents sent to shareholders that explain items to be voted on at a company meeting and include the actual ballot or instructions for casting a vote. Think of them as a voting packet that lays out who’s running the company, major proposals (like pay, mergers, or board changes), and arguments for and against each item. Investors care because those votes shape corporate direction, affect risk and future profits, and can influence share value.

forward-looking statements regulatory

"Certain statements made or referenced in this supplement may be forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/30/2026 - 07:01 AM Learn about SEC filing dates

FAQ

What merger did Nuveen (NPV) disclose in the supplement?

The supplement states that NPV and Nuveen Minnesota Quality Municipal Income Fund (NMS) are proposed to be merged into Nuveen Municipal Credit Income Fund (NZF). The transaction requires shareholder approval and other customary closing conditions before it can be completed.

Will NPV shareholders keep their state tax exemption after the merger?

No. The supplement explains that if the mergers occur, shareholders of NPV and NMS would lose the applicable state tax exemption because NZF is a national municipal fund that seeks federal-only tax-exempt income.

Are the two mergers dependent on each other to close?

No. The supplement explicitly states the closing of NMS into NZF and the closing of NPV into NZF are not contingent on the other merger closing; each may close independently, subject to its own conditions and approvals.

When will shareholders receive more details and materials about the mergers?

Proxy materials with detailed information are expected to be filed with the SEC in the coming weeks. Those materials will include the specific terms, voting procedures, and any additional conditions applicable to each proposed merger.

Does the supplement solicit proxies from shareholders?

No. The supplement states it is for informational purposes only and is not a solicitation of a proxy from any fund shareholder. Formal solicitation will occur, if applicable, through the forthcoming proxy materials.

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-282564

Nuveen Virginia Quality Municipal Income Fund (NYSE: NPV)

(the “Fund”)

Supplement Dated April 30, 2026

to the Fund’s Currently Effective Prospectus and Statement of Additional Information (“SAI”)

The Boards of Trustees of Nuveen Virginia Quality Municipal Income Fund (NYSE: NPV), Nuveen Minnesota Quality Municipal Income Fund (NYSE: NMS) and Nuveen Municipal Credit Income Fund (NYSE: NZF) have approved a proposal to merge the funds. The proposed mergers, if approved by shareholders, would combine NPV and NMS into NZF. The mergers are intended to create a larger fund with increased trading volume for common shares on the exchange.

Shareholders of each of NMS and NPV should note that each fund is a state-specific municipal fund that seeks to provide current income exempt from regular federal income tax and the income tax of a single state, and if the proposed mergers are approved, each fund would be merged into NZF, which is a national municipal fund that seeks to provide current income exempt from regular federal income tax. As such, if the proposed mergers occur, shareholders of NPV and NMS will lose the benefit of the applicable state tax exemption as a result of the applicable merger into NZF. The closing of the merger of NMS into NZF, and the merger of NPV into NZF, is not contingent on the closing of the other merger.

The proposed mergers for the funds are subject to certain conditions, including necessary approval by the funds’ shareholders. NPV and NMS will each hold Special Meetings of Shareholders for their common and preferred shareholders to consider approval of the merger proposal. In addition, NZF will hold a Special Meeting of Shareholders for its preferred shareholders to consider approval of the merger proposal. Detailed information on the proposed mergers will be contained in proxy materials expected to be filed with the Securities and Exchange Commission in the coming weeks. This supplement is for informational purposes only and is not a solicitation of a proxy from any fund shareholder.

This constitutes a supplement to your fund’s Prospectus and SAI, does not set forth all of the terms of an investment in the fund and therefore should be read in conjunction with such documents.

FORWARD-LOOKING STATEMENTS

Certain statements made or referenced in this supplement may be forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

• market developments;

• legal and regulatory developments;

• the ability to satisfy conditions to the proposed mergers; and

• other additional risks and uncertainties.

You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

PLEASE KEEP THIS WITH YOUR

FUND’S PROSPECTUS AND SAI FOR FUTURE REFERENCE

EGN-NPVP-0426P