Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 210

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 210
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 together with any other persons interpositioned between such lender and the Fund with respect to a participation.               |

| (1) | This                                                                                      
 table presents the fundamental investment restrictions of each Fund as they appear in     
 the respective Fund’s most recent registration statement, as the same may subsequently    
 have been modified with the approval of the holders of a majority of the Fund’s           
 outstanding voting securities. Accordingly, the use of certain defined terms in the table 
 does not necessarily correspond with defined terms used elsewhere in this SAI.            |

| (2) | Section 18(c)                                                                                   
 of the 1940 Act generally limits a registered closed-end investment company to issuing          
 one class of senior securities representing indebtedness and one class of senior securities     
 representing stock, except that the class of indebtedness or stock may be issued in one         
 or more series, and promissory notes or other evidences of indebtedness issued in consideration 
 of any loan, extension, or renewal thereof, made by a bank or other person and privately        
 arranged, and not intended to be publicly distributed, are not deemed a separate class          
 of senior securities.                                                                           |

| (3) | Section 18(a)                                                                              
 of the 1940 Act generally prohibits a registered closed-end fund from incurring borrowings 
 if, immediately thereafter, the aggregate amount of its borrowings exceeds 33 1/3% of      
 its total assets. The Funds have not applied for, and currently do not intend to apply     
 for, any exemptive relief that would allow it to borrow outside of the limits of the       
 1940 Act.                                                                                  |

| (4) | Section 21                                                                             
 of the 1940 Act makes it unlawful for a registered investment company, like the Funds, 
 to lend money or other property if (i) the investment company’s policies set           
 forth in its registration statement do not permit such a loan or (ii) the borrower     
 controls or is under common control with the investment company.                       |

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The Target Fund may issue preferred shares or other senior securities, such as commercial paper or notes. If it does so, the Target Fund may be subject to certain restrictions imposed by either guidelines of one or more NRSROs that may issue ratings for senior securities issued by the Target Fund or, if the Target Fund borrows from a lender, by the lender. These guidelines may impose asset coverage or portfolio composition requirements that are more stringent than those imposed on the Target Fund