Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 3

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 3
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 For a discussion of derivative instruments in which the Fund may
invest, see “Investment Objective and Policies—Additional Investment Practices—Strategic Transactions” in the
accompanying Prospectus.

The Fund invests, without limitation, in debt securities
rated, at the time of investment, at least (i) B3 by Moody’s Investors Service, Inc. (“Moody’s”), (ii) B- by Standard
& Poor’s Ratings Services (“S&P”) or Fitch Ratings (“Fitch”), or (iii) a comparable rating by another
rating agency, and invests no more than 5% of its Managed Assets in debt securities rated below B3 by Moody’s, B- by S&P or
Fitch or a comparable rating by another rating agency. Therefore, the Fund may invest in below investment grade debt securities. A debt
security is considered below investment grade if it is rated below Baa3- by Moody’s or below BBB- by S&P or Fitch or a comparable
rating by another rating agency. Below investment grade debt securities are often referred to as “high yield” securities or
“junk bonds.” Below investment grade debt securities are regarded as having predominantly speculative characteristics with
respect to capacity to pay interest and to repay principal. Debt securities in which the Fund invests may be of any maturity.

Investment Adviser. The Fund is managed by Cushing®
Asset Management, LP d/b/a NXG Investment Management (the “Investment Adviser”).

You should read this Prospectus Supplement and the accompanying Prospectus, and the documents incorporated herein or therein by reference, which contain important information about the Fund that you should know before deciding whether to invest, and retain it for future reference. A Statement of Additional Information, dated November 13, 2023 (the “SAI”), containing additional information about the Fund, has been filed with the SEC and is incorporated by reference in its entirety into the accompanying Prospectus. This Prospectus Supplement, the accompanying Prospectus and the SAI are part of a “shelf” registration statement filed with the SEC. This Prospectus Supplement describes the specific details regarding this offering, including the method of distribution. If information in this Prospectus Supplement is inconsistent with the accompanying Prospectus or the SAI, you should rely on this Prospectus Supplement.

You may request a free copy of the Statement of Additional
Information, the table of contents of which is on page 82 of the accompanying Prospectus, or request other information about the