Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 25

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 25
---
 recognize gains or losses, which may result in taxable distributions to Acquiring Fund shareholders (including former shareholders of a Target Fund who hold shares of the Acquiring Fund following the Mergers). If such sales had been completed as of August 31, 2025, the repositioning would not have generated net capital gain, taking into account capital loss carryforwards. Following the Mergers, the Acquiring Fund’s ability to use capital loss carryforwards may be limited. Securities held by the Funds are purchased and sold on a principal rather than agency basis, and such transactions are not subject to separate brokerage commissions.

<div align='center'>2</div>

The foregoing discussion and the tax opinion discussed above to be received by the Funds regarding certain aspects of the Mergers, including that the Mergers will qualify as reorganizations under Section 368(a) of the Code, will rely on the position that the Acquiring Fund preferred shares to be issued in the Mergers, if any, will constitute equity of the Acquiring Fund for federal income tax purposes. See “C. Information About the Mergers—Material Federal Income Tax Consequences of the Mergers.”

Comparison of the Acquiring Fund and the Target Funds

General.The Acquiring Fund and the Target Funds are diversified, closed-end management investment companies organized as Massachusetts business trusts. Set forth below is certain comparative information about the organization, capitalization and operation of the Funds.

| Organization     
 Fund             
 New              
 Jersey Municipal |     | Organization 
 Date         
 June         
 1, 1999      |     | State            
 of Organization  
 Commonwealth     
 of Massachusetts |     | Entity   
 Type     
 Business 
 Trust    |
|:-----------------|:----|:-------------|:----|:-----------------|:----|:---------|
| Pennsylvania     
 Municipal        |     | December     
 19, 1990     |     | Commonwealth     
 of Massachusetts |     | Business 
 Trust    |
| Missouri         
 Municipal        |     | March        
 29, 1993     |     | Commonwealth     
 of Massachusetts |     | Business 
 Trust    |
| Acquiring        
 Fund             |     | October      
 8, 2003      |     | Commonwealth     
 of Massachusetts |     | Business 
 Trust    |

Capitalization.

| Capitalization—Common 
 Shares(1)             |     |            |     |             |     |           |     |                               |     |                      |     |                                   |
| Fund                  |     | Authorized 
 Shares