Company: JPC
Filing Date: 2025-06-12
Form Type: 424B3
Source: 0001999371-25-007638
Chunk: 33

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-12
Form: 424B3
Chunk 33
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 defer or omit distributions.                       |

| ● | Credit                                                                                    
 and Subordination Risk. Credit risk is the risk that a security in the Fund’s             
 portfolio will decline in price or the issuer of the security will fail to make dividend, 
 interest or principal payments when due because the issuer experiences a decline in its   
 financial status. Preferred securities are generally subordinated to bonds and other      
 debt instruments in a company’s capital structure in terms of having priority to          
 corporate income, claims to corporate assets and liquidation payments, and therefore      
 will be subject to greater credit risk than more senior debt instruments.                 |

| ● | Floating                                                                                 
 Rate and Fixed-to-Floating Rate Securities Risk. The market value of floating rate       
 securities is a reflection of discounted expected cash flows based on expectations for   
 future interest rate resets. The market value of such securities may fall in a declining 
 interest rate environment and may also fall in a rising interest rate environment if     
 there is a lag between the rise in interest rates and the reset. This risk may also be   
 present with respect to fixed-to-floating rate securities in which the Fund may invest.  
 A secondary risk associated with declining interest rates is the risk that income earned 
 by the Fund on floating rate and fixed-to-floating rate securities may decline due to    
 lower coupon payments on floating-rate securities.                                       |

| ● | Liquidity                                                                                   
 Risk. Certain preferred securities may be substantially less liquid than many other         
 securities, such as U.S. Government securities or common stock. Illiquid securities involve 
 the risk that the securities will not be able to be sold at the time desired by the Fund    
 or at prices approximating the value at which the Fund is carrying the securities on        
 its books.                                                                                  |

| ● | Regulatory                                                                                     
 Risk. Issuers of preferred securities may be in industries that are heavily regulated          
 and that may receive government funding. The value of preferred securities issued by           
 these companies may be affected by changes in government policy, such as increased regulation, 
 ownership restrictions, deregulation or reduced government funding.                            |

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| ● | New                                                                                            
 Types of Securities Risk. From time to time, preferred securities, including hybrid-preferred  
 securities, have been, and may in the future be, offered having features other than those      
 described herein. The Fund reserves the right to invest in these securities if the Sub-Adviser 
 believe that doing so would be consistent with the Fund’s investment objective                 
 and policies. Since the market for