Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 251

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 251
---

counterparties.

Additionally,

counterparties

may

be

required

to

pledge

collateral

daily

(based

on

the

daily

valuation

of

the

### financial
asset)

on

behalf

of

each

Fund

with

a

value

approximately

equal

to

the

amount

of

any

unrealized

gain

above

a

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

an

unrealized

loss,

the

Funds

have

instructed

the

custodian

to

pledge

assets

of

the

Funds

as

collateral

with

a

value

approximately

equal

to

the

amount

of

the

unrealized

loss

above

a

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

if

and

when

the

valuations

fluctuate,

either

up

or

down,

by

at

least

the

pre-determined

threshold

amount.

#### 6.

#### Fund

#### Shares

#### Common

#### Shares
Tender

Offer

The

Board

authorized

JPI

to

conduct

a

tender

offer

pursuant

to

which

the

Fund

offered

to

purchase

up

to

100%

of

its

then

outstanding

shares

for

cash

on

a

pro

rata

basis

at

a

price

per

share

equal

100%

of

the

NAV

per

share

as

determined

as

of

the

close

of

regular

trading

on

the

NYSE

on

the

expiration

date

of

the

tender

offer.

On

July

17,

2024,

Nuveen

announced

the

Fund’s

tender

offer,

which

commenced

on

July

17,

2024

and

expired

on

August

14,

2024.

Details

of

the

tender

offer

from

participating

shareholders

during

the

current

reporting

period

were

as

follows:

#### Common

#### Shares

#### Equity

#### Shelf

#### Programs

#### and

####