Nuveen High Income 2020 Target Term Fund Corrects Its Net Asset Value per Common Share

The Nuveen High Income 2020 Target Term Fund JHY daily net asset values per common share (NAVs) published for each business day during the period from 17 August 2020 through 2 September 2020 were incorrect. The fund's published NAV on each business day during that period was $9.62, while the corrected NAV for each such day was $9.53. These incorrect daily NAVs in turn caused the discount/premium of the market price to NAV published during that period, and any return-to-date-on-NAV figures published during that period, to be incorrect.

JHY seeks to provide a high level of current income and return the original $9.85 net asset value per common share (the original NAV) on or about 1 November 2020. Due to recent market conditions, JHY does not anticipate returning the original NAV at its termination. This objective is not a guarantee and is dependent on a number of factors including the extent of market recovery and the cumulative level of income retained in relation to cumulative portfolio gains net of losses.

For more information, please visit Nuveen's CEF homepage www.nuveen.com/closed-end-funds.

About Nuveen

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1 trillion in assets under management as of 30 June 2020 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

Nuveen Securities, LLC, member FINRA and SIPC.

The information contained on the Nuveen website is not a part of this press release.

FORWARD-LOOKING STATEMENTS

Certain statements made herein are 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 obtain requisite shareholder approval for the proposals described herein;
• the number of shares tendered in response to each fund's tender offer; and
• other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen Fund Advisers and Nuveen affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

EPS-1346328PR-E0920X

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