Company: NMZ
Filing Date: 2025-09-29
Form Type: N-14 8C
Source: 0001999371-25-014188
Chunk: 98

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-09-29
Form: N-14 8C
Chunk 98
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 The Special Rate Periods for the Series 2 and 3 VRDP Shares of New Jersey Municipal and the Series 2 and 3 VRDP Shares of Pennsylvania Municipal are “Adjustable Rate,” meaning that the beneficial owner or owners of the applicable series of VRDP Shares may agree from time to time to adjust the dividend rate and other economic terms.

The terms of the New VRDP Shares will be substantially similar, as of the time of the closing of the applicable Merger, to the terms of the corresponding series of VRDP Shares, as applicable, of New Jersey Municipal and/or Pennsylvania Municipal outstanding immediately prior to the closing of the applicable Merger. However, because of the Acquiring Fund’s policy of investing in a nationally diversified portfolio of municipal securities, the terms of the New VRDP Shares will not include a provision, currently applicable to the Target Funds’ VRDP Shares, that generally would require an additional payment to holders subject to, as applicable, New Jersey or Pennsylvania income taxation in the event the applicable Target Fund was required to allocate capital gains and/or ordinary income to a given month’s distribution in order to make such distribution equal, on an after-tax basis, to the amount of the distribution if it was excludable from, as applicable, New Jersey or Pennsylvania income taxation (in addition to federal income taxation). The aggregate liquidation preference of the New VRDP Shares to be received in a Merger, if any, will equal the aggregate liquidation preference of, as applicable, the New Jersey Municipal VRDP Shares or Pennsylvania VRDP Shares held immediately prior to the closing of the Merger. The economic terms of any New VRDP Shares likely may not be the same as the terms of the outstanding AMTP Shares of the Acquiring Fund or other preferred shares issued in the Mergers. The number and terms of VRDP Shares of New Jersey Municipal or of Pennsylvania Municipal currently outstanding may change prior to the Merger due to market or other conditions, and the Acquiring Fund may determine to combine two or more series of Target Fund preferred shares into a smaller number of series of Acquiring Fund preferred shares. See “Additional Information About the Acquiring Fund—Description of Outstanding Acquiring Fund MFP Shares” and “—Description of Outstanding Acquiring Fund VRDP Shares.”

Holders of the New VRDP Shares will be entitled to receive cash dividends when, as and if declared by the Acquiring Fund’s Board. The amount of dividends per New VRDP Share payable on any dividend payment date will equal the sum of dividends accumulated for