Company: JPC
Filing Date: 2025-06-12
Form Type: 424B3
Source: 0001999371-25-007638
Chunk: 225

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-12
Form: 424B3
Chunk 225
---
 made on a pro ratabasis. An order may not be allocated on a pro ratabasis where, for example (i) consideration is given to portfolio managers who have been instrumental in developing or negotiating a particular investment; (ii) consideration is given to an account with specialized investment policies that coincide with the particulars of a specific investment; (iii) pro rataallocation would result in odd-lot or de minimisamounts being allocated to a portfolio or other client; or (iv) the Sub-Adviser reasonably determines that departure from a pro rataallocation is advisable. There may also be instances where a Fund will not participate at all in a transaction that is allocated among other accounts. While these allocation procedures could have a detrimental effect on the price or amount of the securities available to the Fund from time to time, it is the opinion of the Board that the benefits available from the Sub-Adviser’s management outweigh any disadvantage that may arise from the Sub-Adviser’s larger management activities and its need to allocate securities.

The information in the table below reflects the aggregate brokerage commission paid by the Target Fund and the Acquiring Fund for the last three fiscal years:

|                |     |     2024 |     |   2023 |     |    2022 |
| Target Fund    |     |  $17,352 |     | $1,982 |     |  $5,537 |
|                |     |     2024 |     |   2023 |     |    2022 |
| Acquiring Fund |     | $102,384 |     | $6,422 |     | $65,505 |

During its most recently completed fiscal year, no Fund paid commissions in return for research services.

During the fiscal year ended July 31, 2024, the Funds acquired securities of their regular brokers or dealers, as defined in Rule 10b-1 under the 1940 Act, or of the parents of such brokers or dealers. The following table provides the names of those brokers or dealers and states the value of the Funds’ aggregate holdings of the securities of each issuer as of July 31, 2024:

| Fund      |     | Broker/Dealer           |     | Issuer                        |     |                                                      Aggregate 
 Fund Holdings of Broker/Dealer or Parent (as of July 31, 2024) |
|:----------|:----|:------------------------|:----|:------------------------------|:----|---------------------------------------------------------------: