Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 90

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 90
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 municipal debt and common equity.

Investment Policies of the Acquiring Fund

In addition to the Acquiring Fund’s investment policies discussed above, the following investment policies also apply to the Acquiring Fund, under normal circumstances:

| ● | The                                                                                          
 Acquiring Fund will invest at least 50% of its Managed Assets in securities rated investment 
 grade (BBB/Baa and above) at the time of investment. Investment grade quality securities     
 are those securities that, at the time of investment, are rated by at least one NRSRO        
 within the four highest grades (Baa or BBB or better by Moody’s, S&P, or Fitch),             
 or are unrated but judged to be of comparable quality.                                       |

| ● | The                                                                                           
 Acquiring Fund will invest more than 25% of its Managed Assets in the securities of companies 
 principally engaged in financial services.                                                    |

| ● | The                                                                                      
 Acquiring Fund is not limited in the amount of its investments in non-U.S. issuers. The  
 Acquiring Fund may invest up to 10% of its Managed Assets in non-U.S. dollar-denominated 
 securities. The Acquiring Fund may invest up to 5% of its Managed Assets in preferred    
 securities issued by companies located in emerging market countries.                     |

Investment Policies of the Target Fund

In addition to the Target Fund’s investment policies discussed above, the following investment policies also apply to the Target Fund, under normal circumstances:

| ● | The                                                                                     
 Target Fund may invest up to 20% of its Managed Assets in securities issued by federal, 
 state and local governments and U.S. government agencies.                               |

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| ● | The                                                                                          
 Target Fund invests at least 50% of its Managed Assets in securities rated investment        
 grade (BBB-/Baa3 or higher) at the time of purchase. A security is considered to have        
 the highest rating assigned to it by a rating agency or, in the case of an unrated security, 
 to have the same rating as rated securities judged by the Target Fund’s sub-adviser          
 to be of comparable quality.                                                                 |

| ● | The                                                                                    
 Target Fund may invest up to 10% of its Managed Assets in securities rated below B-/B3 
 at the time of purchase.                                                               |

| ● | The                                                                                         
 Target Fund may invest up to 10% of its Managed Assets in securities of issuers in emerging 
 market countries.