Company: JPC
Filing Date: 2025-06-10
Form Type: N-14 8C/A
Source: 0001999371-25-007489
Chunk: 4

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-10
Form: N-14 8C/A
Chunk 4
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ger, of the Acquiring Fund common shares         
 received by the Target Fund’s common shareholders (including, for this purpose,                 
 fractional Acquiring Fund common shares to which common shareholders would be entitled)         
 will be equal to the aggregate net asset value of the common shares of the Target Fund          
 held by its shareholders as of such time. Fractional Acquiring Fund common shares due           
 to Target Fund common shareholders will be aggregated and sold on the open market, and          
 Target Fund common shareholders will receive cash in lieu of such fractional shares.            |

Following the Merger, common shareholders of each Fund will hold a smaller percentage of the outstanding common shares of the combined fund as compared to their percentage holdings of their respective Fund prior to the Merger.

| Q. | Will                                                      
 management of the Funds change as a result of the Merger? |

| A. | Nuveen                                                                                        
 Asset Management, LLC (“Nuveen Asset Management”), a wholly owned subsidiary                  
 of Nuveen Fund Advisors, currently serves as sub-adviser to the Target Fund and the Acquiring 
 Fund. Nuveen Asset Management manages the portfolio of the Target Fund and the Acquiring      
 Fund using a team of analysts and portfolio managers that focus on a specific group of        
 funds. Douglas M. Baker, CFA and Brenda A. Langenfeld, CFA are portfolio managers of          
 the Target Fund and the Acquiring Fund. The Acquiring Fund will continue to be managed        
 by Nuveen Asset Management and Mr. Baker and Ms. Langenfeld after the completion of the       
 Merger.                                                                                       |

| Q. | What                                                                
 will happen if the required shareholder approvals are not obtained? |

| A. | The                                                                                           
 closing of the Merger is subject to the satisfaction or waiver of certain closing conditions, 
 which include customary closing conditions. In order for the Merger to occur, all requisite   
 shareholder approvals must be obtained at the applicable Fund’s Meeting, and certain          
 other consents, confirmations and/or waivers from various third parties, including the        
 liquidity providers with respect to outstanding preferred shares of the Acquiring Fund        
 and lenders under the Acquiring Fund’s credit facility, must also be obtained.                
 Because the closing of the Merger is contingent upon the Target Fund and the Acquiring        
 Fund obtaining such shareholder approvals and satisfying (or obtaining the waiver of)         
 other closing conditions, it is possible that the Merger will not occur even if shareholders  
 of a Fund entitled to vote approve the Merger