Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 118

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 118
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 value
differential among them, such as exchanging a right to receive a payment in foreign currency for the right to receive U.S. dollars. Currency
swap agreements may be entered into on a net basis or may involve the delivery of the entire principal value of one designated currency
in exchange for the entire principal value of another designated currency. In such cases, the entire principal value of a currency swap
is subject to the risk that the counterparty will default on its contractual delivery obligations.

<div align='center'>S-10</div>

Credit Default Swaps. The Fund may
enter into credit default swap contracts and options thereon. A credit default swap consists of an agreement between two parties in which
the “buyer” agrees to pay to the “seller” a periodic stream of payments over the term of the contract and the
seller agrees to pay the buyer the par value (or other agreed-upon value) of a referenced debt obligation upon the occurrence of a credit
event with respect to the issuer of the referenced debt obligation. Generally, a credit event means bankruptcy, failure to pay, obligation
acceleration or modified restructuring. The Fund may be either the buyer or seller in a credit default swap. As the buyer in a credit
default swap, the Fund would pay to the counterparty the periodic stream of payments. If no default occurs, the Fund would receive no
benefit from the contract. As the seller in a credit default swap, the Fund would receive the stream of payments but would be subject
to exposure on the notional amount of the swap, which it would be required to pay in the event of default. The use of credit default
swaps could result in losses to the Fund if the Investment Adviser fails to correctly evaluate the creditworthiness of the issuer of
the referenced debt obligation.

Inflation Swaps. Inflation swap agreements
are contracts in which one party agrees to pay the cumulative percentage increase in a price index, such as the Consumer Price Index,
over the term of the swap (with some lag on the referenced inflation index), and the other party pays a compounded fixed rate. Inflation
swap agreements may be used to protect the net asset value of the Fund against an unexpected change in the rate of inflation measured
by an inflation index. The value of inflation swap agreements is expected to change in response to changes in real interest rates. Real
interest rates are tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increase
at a faster rate