First American Minnesota Municipal Income Fund II, Inc. (NYSE MKT: MXN)
(the "Fund"), today announced that the Fund has completed the redemption
of all of its outstanding Auction Preferred Shares. As previously
disclosed on April 1, 2014, the Fund completed the private placement
of Variable Rate MuniFund Term Preferred Shares (VMTP) to generate cash
proceeds to fund the redemption. Minnesota Municipal Income Portfolio
Inc. (NYSE: MXA) and American Municipal Income Portfolio Inc. (NYSE:
XAA) intend to complete the redemption of all of their outstanding
Remarketed Preferred Shares on May 8, 2014 and May 9, 2014, respectively.
No VMTP shares have been registered under the Securities Act of
1933 (the Securities Act) or any state securities laws. Unless so
registered, no VMTP shares may be offered or sold in the United States
except pursuan to an exemption from the registration requirements of
the Securities Act and applicable state securities laws. This press
release is neither an offer to sell nor a solicitation of an offer to
buy any VMTP shares.
For more information about the Funds, visit www.firstamericanfunds.com
or call 800.677.3863.
Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as
investment advisor to the First American Closed-End Funds. A subsidiary
of U.S. Bank National Association, U.S. Bancorp Asset Management focuses
on providing investment management services to institutional clients,
including corporations, public entities and nonprofits. It has combined
assets under management of more than $52 billion as of March 31, 2014.
First American Closed-End Funds are subadvised by Nuveen Fund Advisors,
LLC and Nuveen Asset Management, LLC.
Investment products, including shares of closed-end funds, are not
obligations of, or guaranteed by, any bank, including U.S. Bank or any
U.S. Bancorp affiliate, nor are they insured by the Federal Deposit
Insurance Corporation, the Federal Reserve Board, or any other agency.
An investment in such products involves investment risk, including
possible loss of principal.
Please remember, you could lose money with this investment. Neither
safety of principal nor stability of income is guaranteed. Past
performance does not guarantee future results.
U.S. Bank National Association is a separate entity and wholly owned
subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the
United States, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
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