Company: JPC
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230231
Chunk: 34

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 34
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ity Association of America (“TIAA”). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds’ portfolios, manages the Funds’ business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub‑ advisory agreements with Nuveen Asset Management, LLC (the “Sub‑Adviser”), a subsidiary of the Adviser, under which the Sub‑Adviser manages the investment portfolio of the Funds. The Adviser is responsible for managing JPC’s and JPI’s investments in swap contracts. JPI Fund Restructuring and Tender Offer:On July 17, 2024, shareholders of JPI approved a proposal to amend the Fund’s declaration of trust to eliminate the Fund’s term structure, subject to the completion of a tender offer. The amendment allows shareholders the opportunity to maintain their investment in the Fund and its leveraged exposure to preferred and other income producing securities in lieu of the Fund’s scheduled termination. Additionally, on July 17, 2024, the Fund conducted a tender offer, which allowed shareholders to offer up to 100% of their common shares for repurchase for cash at a price per share equal to 100% of the net asset value (“NAV”) per share determined on the date the tender offer expired. The tender offer expired on August 14, 2024. In the tender offer 8,672,542 shares were tendered, representing approximately 38% of the Fund’s common shares outstanding. Properly tendered shares were repurchased at $20.0081 per share, which was the NAV of the Fund as of the close of ordinary trading on the New York Stock Exchange on August 14, 2024. As a result of the successful completion of the tender offer, the restructuring of the Fund was completed and on August 19, 2024, the following changes became effective.

| • | The Fund’s declaration of trust was amended to eliminate the term of the Fund. |

| • | The Fund’s name changed from Nuveen Preferred and Income Term Fund to Nuveen Preferred Securities & Income Opportunities Fund. |

JPC, JPS and JPT Fund Mergers:Effective prior to opening of business on November 6, 2023, Nuveen Preferred & Income Securities Fund (JPS) and Nuveen Preferred and Income Fund (JPT) (the “Target Funds”) were each merged into J