BXMX Nuveen S&P 500 Buy Write Income Fund

The Nuveen Dow 30SM Dynamic Overwrite Fund (DIAX) and Nuveen S&P 500 Buy-Write Income Fund (BXMX) have declared their regular quarterly distributions. These funds represent two of several Nuveen investment strategies designed for investors seeking diversified sources of income to prepare for and sustain their retirement income and other cash flow needs. Information regarding each fund’s last 19(a) Quarterly Distribution Notice (as of September 26, 2018) is also included below. This informational notice provides further details on the sources of fund distributions. The full text of this notice is also available on the Nuveen website via Distribution Source Estimates. For further information regarding fund distributions including earnings, undistributed net investment income, and notices please visit www.nuveen.com/cef.

The following dates apply to today's declarations:

    Record Date December 14, 2018 Ex-Dividend Date December 13, 2018 Payable Date December 31, 2018               Quarterly Distribution Per Share     Change From

Ticker

Exchange

Fund Name

Amount     Previous Quarter

Covered Call

DIAX NYSE Nuveen Dow 30SM Dynamic Overwrite Fund $.3100 - BXMX NYSE Nuveen S&P 500 Buy-Write Income Fund $.2450 -  

Quarterly Managed Distributions

The goal of each fund’s managed distribution program is to provide shareholders relatively consistent and predictable cash flow by systematically converting expected long-term return potential into regular distributions. Historical distribution sources have included net investment income, realized gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization contained in shareholders’ 1099-DIV forms after the end of the year.

Under a Managed Distribution policy, Nuveen closed-end funds seek to maintain a stable regular distribution amount that, over the long term, matches the fund’s total distributions paid to its total return. Investors should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate or from the terms of its Managed Distribution Policy.

• Actual returns likely will differ from projected long-term returns, (and therefore a fund’s distribution rate, also), at least over shorter time periods. Over a specific timeframe, a fund’s net asset value will increase (if returns exceed distributions), or decrease (if distributions exceed returns), by the difference between actual returns and total distributions.
• A return of capital is a non-taxable distribution of a portion of the fund’s capital. When a fund’s returns exceed distributions, return of capital may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when a fund’s returns fall short of distributions, it will represent a portion of the investors’ original principal unless the shortfall is offset during other time periods over the life of the investment (previous or subsequent) when the fund’s total return exceeds distributions.
• For additional information about managed distributions, please see Understanding Managed Distributions.

The following tables provide estimates of each fund’s distribution sources, reflecting year-to-date cumulative experience through the month-end prior to the latest distribution. The funds attribute these estimates equally to each regular distribution throughout the year. Consequently, the estimated information as of the specified month-end shown below is for the current distribution, and also represents an updated estimate for all prior months in the year. DIAX and BXMX estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of their distributions may be (and is shown below as being estimated to be) a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of the fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report distributions for federal income tax purposes. More details about each Fund’s distributions and the basis for these estimates are available on www.nuveen.com/cef .

Data as of 8/31/2018

                                  Current Quarter       Calendar YTD Estimated Source of Distribution Estimated Per Share Amounts Per Share     Realized             Realized     Fund       Distribution     NII 1     Gains     ROC 2       Distributions 4     NII 1     Gains     ROC 2 BXMX .2450 14.6% 0.0% 85.4% .7350 .1074 .0000 .6276 DIAX       .3100     22.5%     18.2%     59.2%       .9300     .2096     .1695     .5509 1 NII is net investment income and is a projection through the end of the current calendar quarter based on most recent month-end data. 2 ROC is return of capital and may represent unrealized gains, return of shareholder's principal, or both. In certain circumstances, all or a portion of the ROC may be characterized as ordinary income under federal tax law. The actual tax characterization will be provided to shareholders on Form 1099-DIV shortly after calendar year-end. 3 Includes the most recent quarterly distribution declaration.  

The following table provides information regarding each fund’s distributions and total return performance over various time periods. This information is intended to help you better understand whether returns for the specified time periods were sufficient to meet distributions.

Data as of 8/31/2018

                                                                          Per Share Distribution             YTD Net       Inception       Current       Annualized Total Return on NAV       YTD Inception       Monthly Monthly Realized Unrealized Dist. Rate             Dist. Rate Fund       Date     Quarterly       Equivalent       NII1       Gain/Loss2       Gain/Loss2       on NAV3       1-Year       5-Year       YTD       on NAV4 BXMX 10/2004 .2450 .0817 .0118 -.2398 7.8131 6.82% 8.19% 8.75% 3.71% 5.12% DIAX 4/2005 .3100 .1033 .0240 .1695 10.5886 6.48% 14.62% 11.43% 3.97% 4.86% 1 NII is net investment income, which is expressed as a monthly amount using a six-month average. 2 These are approximations. Actual amounts may be more or less than amounts listed above. 3 Current distribution, annualized, expressed over the most recent month-end NAV. 4 Sum of year-to-date distributions expressed over the most recent month-end NAV.  

For more general closed-end fund information and education, please visit Nuveen’s closed-end fund website.

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 $988 billion in assets under management as of 9/30/18 and operations in 16 countries. Its affiliates 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.

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

Nuveen Securities, LLC, member FINRA and SIPC.

683295-INV-O-12/19

View source version on businesswire.com: https://www.businesswire.com/news/home/20181203006086/en/

Kristyna Munoz254-644-1615Kristyna.munoz@nuveen.com