Nuveen PA Quality Muni Inc SEC Filings

Form 4 filing for Nuveen Pennsylvania Quality Municipal Income Fund (NQP) reports a small open-market sale by 10% owner Saba Capital Management, L.P. on 07/09/2025.

• Shares sold: 4,900 common shares
• Sale price: $11.14 per share
• Proceeds: roughly $54,586
• Post-transaction holdings: 5,002,377 shares held indirectly
• Reporting persons: Saba Capital Management, L.P. and its founder Boaz Weinstein, each disclosed as 10% owners

The disposal represents less than 0.1% of Saba’s total NQP position, leaving its stake essentially unchanged in strategic terms. No derivative transactions or insider purchases were disclosed.

UBS AG is marketing a new 12-month structured note, the “Trigger Callable Yield Note,” linked to the least-performing of three U.S. equity benchmarks—the Nasdaq-100, Russell 2000 and S&P 500. Investors receive fixed monthly coupons set on the trade date at ≥ 9.10% p.a., irrespective of index performance, unless UBS calls the note early. The issuer may redeem the note in full—beginning six months after settlement—on any monthly call date; investors would then receive the principal plus the current coupon, ending all further payments.

Principal protection is contingent. If the note is not called and the final level of every index is ≥ 70% of its initial level (“downside threshold”), investors receive full principal at maturity plus the final coupon. If any index closes below its threshold, repayment equals $1,000 × (1 + worst index return); losses therefore mirror the worst-performing index, up to 100% of capital.

Key terms: (1) Denomination: $1,000 per note; (2) Trade/settlement dates: 1 Aug 2025 / 6 Aug 2025; (3) Maturity: 6 Aug 2026; (4) Estimated initial value: $953.60–$983.60, below the $1,000 issue price, reflecting dealer markup, hedging and funding costs; (5) Underwriting discount: $2.50 per note; (6) Listing: none; liquidity depends on dealer markets.

Risk highlights: investors face (i) market risk of all three indices with no upside participation; (ii) principal loss if any index falls > 30%; (iii) call risk & reinvestment risk if UBS redeems when rates are low; (iv) credit risk of UBS AG; (v) limited secondary liquidity; (vi) tax uncertainty—treated as a short-term debt component plus a put option.

The product targets yield-oriented investors comfortable with equity downside exposure, early redemption, and UBS credit. It is not suitable for those seeking capital protection, index upside participation or active secondary trading.

Nuveen Pennsylvania Quality Municipal Income Fund (NQP) – Form 4 filed 07/07/2025

10% owner Saba Capital Management, L.P. and its founder Boaz Weinstein reported two open-market sales of NQP common shares:

• 07/02/2025: 18,594 shares sold at $11.21
• 07/03/2025: 21,908 shares sold at $11.19

The transactions reduced the group’s indirect holdings from 5,058,973 to 5,018,471 shares (a decrease of 40,502 shares). No derivative securities were involved, and the reporting persons remain 10% beneficial owners.