Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 138

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 138
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 Fund” for a further discussion of possible action to reduce or eliminate such discount to net asset value.

Description of Outstanding Acquiring Fund TFP Shares

The Acquiring Fund’s outstanding Series A TFP Shares and Series B TFP Shares (together, the “Acquiring Fund TFP Shares”), which are expected to remain outstanding following the completion of the Merger, are as follows:

| Series              |     | Shares      
 Outstanding |         |     | Par Value 
 Per Share |      |     | Liquidation Preference Per Share |       |     | Issue Date    |     | Term            
 Redemption Date |
|:--------------------|:----|:------------|--------:|:----|:----------|-----:|:----|:---------------------------------|------:|:----|:--------------|:----|:----------------|
| Series A TFP Shares |     |             | 150,000 |     | $         | 0.01 |     | $                                | 1,000 |     | August 2022   |     | August 1, 2037  |
| Series B TFP Shares |     |             | 270,000 |     | $         | 0.01 |     | $                                | 1,000 |     | November 2023 |     | July 1, 2032    |

The Acquiring Fund TFP Shares were issued to qualified institutional buyers through private transactions exempt from registration under the 1933 Act.

The Acquiring Fund TFP Shares are [in the “Variable Rate Demand Mode” (the “VRD Mode”), in which the dividend is established by a remarketing agent.]

Under the statement establishing and fixing the rights and preferences of the Acquiring Fund Series A TFP Shares and the Acquiring Fund Series B TFP Shares, as supplemented (each, a “TFP Statement”), the Acquiring Fund TFP Shares currently pay an adjustable dividend rate set weekly by a remarketing agent. Holders of the Acquiring Fund TFP Shares have the right to give notice on any business day to tender the securities for remarketing in seven days. The Acquiring Fund TFP Shares are also subject to a mandatory tender for remarketing upon the occurrence of certain events, such as a mode change or the non-payment of dividends by the Acquiring Fund.

Should a remarketing be unsuccessful, the dividend rate will reset to a maximum rate as defined in the governing documents of the Acquiring Fund TFP Shares. The dividend rate shall in no circumstances exceed