Company: JPC
Filing Date: 2025-06-12
Form Type: 424B3
Source: 0001999371-25-007638
Chunk: 142

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-12
Form: 424B3
Chunk 142
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 outstanding Acquiring Fund TFP Shares. Holders of outstanding Acquiring Fund TFP Shares also are entitled to vote as a class with holders of other preferred shares, if any, of the Acquiring Fund on matters that relate to the conversion of the Acquiring Fund to an open-end investment company, certain plans of reorganization adversely affecting holders of the preferred shares or any other action requiring a vote of security holders of the Acquiring Fund under Section 13(a) of the 1940 Act. In certain circumstances, holders of preferred shares, including outstanding Acquiring Fund TFP Shares, are entitled to elect additional trustees in the event dividends are due and unpaid and sufficient cash or specified securities have not been deposited for their payment, or at any time holders of preferred shares are entitled under the 1940 Act to elect a majority of the trustees of the Acquiring Fund.

Priority of Payment

The outstanding Acquiring Fund TFP Shares are senior in priority to the Acquiring Fund’s common shares as to the payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Acquiring Fund. The Acquiring Fund TFP Shares have equal priority as to the payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Acquiring Fund with each other.

Borrowings and Priority of Payment

The Acquiring Fund borrows under the Credit Agreement and the Repo Facility. As of March 31, 2025, the borrowing capacity under the Credit Agreement was $715,000,000, and the Acquiring Fund’s outstanding indebtedness under the Credit Agreement was $689,000,000 and outstanding balance under the Repo Facility was $620,706,000. For the fiscal year ended July 31, 2024, the average daily balance outstanding and the average annual interest rate on borrowings under the Credit Agreement were $576,658,743 and 6.25%, respectively, and the average daily balance outstanding and the average annual interest rate on reverse repurchase agreements under the Repo Facility were $333,484,031 and 5.95%, respectively. The Credit Facilities have no stated maturity, but the Credit Agreement may be terminated upon 179 days’ notice and the Repo Facility may be terminated upon 29 days’ notice. The Acquiring Fund has the right to augment or replace the Credit Facilities with a new credit facility in the future. In connection with the Merger, the Acquiring Fund intends to seek to maintain a credit facility on economic