Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 281

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 281
---
NAV

or

offer

price

and

reinvested

dividends

and

capital

gains

distributions,

if

any)

over

the

time

period

being

considered.

Collateralized

Loan

Obligation

(CLO):

A

security

backed

by

a

pool

of

debt,

often

low

rated

corporate

loans.

Collateralized

loan

obligations

(CLOs)

are

similar

to

collateralized

mortgage

obligations,

except

for

the

different

type

of

underlying

loan.

Contingent

Capital

Securities

(

CoCos

):

CoCos

are

debt

or

capital

securities

of

primarily

non-U.S.

issuers

with

loss

absorption

contingency

mechanisms

built

into

the

terms

of

the

security,

for

example

a

mandatory

conversion

into

common

stock

of

the

issuer,

or

a

principal

write-down,

which

if

triggered

would

likely

cause

the

CoCo

investment

to

lose

value.

Loss

absorption

mechanisms

would

become

effective

upon

the

occurrence

of

a

specified

contingency

event,

or

at

the

discretion

of

a

regulatory

body.

Specified

contingency

events,

as

identified

in

the

CoCo’s

governing

documents,

usually

reference

a

decline

in

the

issuer’s

capital

below

a

specified

threshold

level,

and/or

certain

regulatory

events.

A

loss

absorption

contingency

event

for

CoCos

would

likely

be

the

result

of,

or

related

to,

the

deterioration

of

the

issuer’s

### financial
condition

and/or

its

status

as

a

going

concern.

In

such

a

case,

with

respect

to

CoCos

that

provide

for

conversion

into

common

stock

upon

the

occurrence

of

the

contingency

event,

the

market

price

of

the

issuer