Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 115

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 115
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 by the Fund’s sub-adviser.                    |

| ● | The                                                                                      
 Fund may invest up to 20% of its Managed Assets in municipal securities that at the time 
 of investment are rated below investment grade or are unrated by any NRSRO but judged    
 to be of comparable quality by the Fund’s sub-adviser.                                   |

| ● | No                                                                                         
 more than 10% of the Fund’s Managed Assets may be invested in municipal securities         
 rated below B3/B- or that are unrated but judged to be of comparable quality by the Fund’s 
 sub-adviser.                                                                               |

| ● | The                                                                                       
 Fund may invest up to 20% of its Managed Assets in municipal securities that pay interest 
 that is taxable under the federal alternative minimum tax (“AMT Bonds”).                  |

| ● | The                                                                              
 Fund may invest up to 15% of its net assets in inverse floating rate securities. |

| ● | The                                                                                   
 Fund will generally maintain an investment portfolio with an overall weighted average 
 maturity of greater than 10 years.                                                    |

The foregoing policies apply only at the time of any new investment.

Each Fund uses leverage to pursue its investment objectives. The Funds may use leverage to the extent permitted by the 1940 Act. The Funds may source leverage through a number of methods including the issuance of preferred shares, investments in inverse floating rate securities and borrowings. In addition, the Funds may also use certain derivatives that have the economic effect of leverage by creating additional investment exposure. The amount and sources of leverage will vary depending on market conditions.

Temporary Defensive Periods

During temporary defensive periods (e.g., times when, in the Adviser’s and/or the Sub-Adviser’s opinion, temporary imbalances of supply and demand or other temporary dislocations in the tax-exempt bond market adversely affect the price at which long-term or intermediate-term municipal securities are available), and in order to keep a Fund’s cash fully invested, each Fund may invest any percentage of its Managed Assets in short-term investments including high quality, short-term debt securities that may be either tax-exempt or taxable. The Funds may not achieve their investment objectives during such periods.

Portfolio Investments

Municipal Securities

General. The Acquiring Fund may invest in various municipal securities, including municipal bonds and notes, other securities issued to finance and refinance public projects, and other related securities and derivative instruments creating exposure to municipal bonds, notes and securities that provide for the payment of interest income that is exempt from