Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 256

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 256
---

is

recorded

as

a

liability

and

is

recognized

as

a

component

of

“TFP

Shares,

net”

on

the

Statement

of

Assets

and

Liabilities.

Dividends

on

the

TFP

shares

are

treated

as

interest

payments

for

### financial
reporting

purposes.

Unpaid

dividends

on

TFP

shares

are

recognized

as

a

component

on

“Interest

payable”

on

the

Statement

of

Assets

and

Liabilities.

Dividends

accrued

on

TFP

Shares

are

recognized

as

a

component

of

“Interest

expense

and

amortization

of

offering

costs”

on

the

Statement

of

Operations.

Subject

to

certain

conditions,

TFP

Shares

may

be

redeemed,

in

whole

or

in

part,

at

any

time

at

the

option

of

the

Funds.

Additionally,

TFP

Shares

in

VRM

mode

are

subject

to

a

60-Day

Evergreen

tenor.

Each

Fund

may

also

be

required

to

redeem

certain

TFP

shares

if

the

Fund

fails

to

maintain

certain

asset

coverage

requirements

and

such

failures

are

not

cured

by

the

applicable

cure

date.

The

redemption

price

per

share

in

all

circumstances

is

equal

to

the

liquidation

preference

per

share

plus

any

accumulated

but

unpaid

dividends.

#### JPC

#### Six

#### Months

#### Ended

#### 1/31/25

#### Year

#### Ended

#### 7/31/24
Common

Shares:

Issued

in

the

Merger

—

214,414,720

Sold

through

shelf

offering

1,683,000

—

Issued

to

shareholders

due

to

reinvestment

of

distributions

49,239

—

Total

1,732,239

214,414,720

Weighted

average

common