Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 22

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 22
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 A Fund also may from time to time borrow on a typically transient basis in connection with its day-to-day operations, primarily in connection with the need to settle portfolio trades. Borrowings and preferred shares have seniority over the common shares. Borrowings under the credit facilities are fully secured by eligible portfolio securities of the applicable Fund. The senior committed secured revolving financing agreement (the “Credit Agreement”) and the senior committed reverse repurchase agreement facility (the “Repo Facility”) of the Acquiring Fund are referred to herein as the “Credit Facilities.” Each Fund also may source leverage through other methods. See “Additional Information About the Acquiring Fund—Description of Outstanding Acquiring Fund TFP Shares—Borrowings and Priority of Payment” below.

Investment Objectives and Policies.The Funds have similar investment objectives, policies and risks, but there are differences.

The Target Fund’s investment objective is to provide a high level of current income and total return. The Acquiring Fund’s primary investment objective is high current income. The Acquiring Fund’s secondary investment objective is total return.

Each Fund is a diversified, closed-end management investment company and currently employs leverage through borrowings and reverse repurchase agreements, and the Acquiring Fund currently also employs leverage through the issuance of preferred shares.

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The following summary compares the current principal investment policies and strategies of the Acquiring Fund to the current principal investment policies and strategies of the Target Fund as of the date of this Joint Proxy Statement/Prospectus.

| Target                                                                                                               
 Fund                                                                                                                 |     | Acquiring                                                                                                                      
 Fund                                                                                                                           |     | Differences                                                                                                                       |
| Principal                                                                                                            
 Investment Strategy:                                                                                                 |     | Principal                                                                                                                      
 Investment Strategy:                                                                                                           |     |                                                                                                                                   |
| The                                                                                                                  
 Fund will invest at least 80% of its Assets(1) in preferred securities and other income producing securities, issued 
 by U.S. and non-U.S. companies, including debt securities, hybrid securities and convertible securities.             |     | The                                                                                                                            
 Fund will invest at least 80% of its Assets(1) in preferred securities and other income producing securities including         
 hybrid securities such as contingent capital securities (“CoCos”) and up to 20% in other securities, primarily                 
 income-oriented securities such as corporate and taxable municipal debt and common equity.                                     |     | Similar.                                                                                                                          |
| Credit                                                                                                               
 Quality:                                                                                                             |     | Credit                                                                                                                         
 Quality:                                                                                                                       |     |