Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 264

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 264
---
s:

Beginning

August

19,

2024,

and

for

a

one-year

period,

the

Adviser

is

waiving

50%

of

JPI’s

net

### management
fees.

#### 9.

#### Commitments

#### and

#### Contingencies
In

the

normal

course

of

business, each

Fund

enters

into

a

variety

of

agreements

that

may

expose

the

Funds

to

some

risk

of

loss.

These

could

include

recourse

arrangements

for

certain

agreements

related

to

preferred

shares,

which

are

described

elsewhere

in

these

Notes

to

### Financial
Statements.

The

risk

of

future

loss

arising

from

such

agreements,

while

not

quantifiable,

is

expected

to

be

remote.

As

of

the

end

of

the

reporting

period,

the

Funds

did

not

have

any

unfunded

commitments

other

than

those

disclosed

in

the

Notes

to

### Financial
Statements,

when

applicable.

From

time

to

time,

the

Funds

may

be

a

party

to

certain

legal

proceedings

in

the

ordinary

course

of

business,

including

proceedings

relating

to

the

enforcement

of

the

Funds' rights

under

contracts.

As

of

the

end

of

the

reporting

period,

### management
has

determined

that

any

legal

proceeding(s)

the

Funds

are

subject

to,

including

those

described

within

this

report,

are

unlikely

to

have

a

material

impact

to

any

of

the

Funds’

### financial
statements.

#### 10.

#### Borrowings

#### Arrangements

#### and

#### Reverse

#### Repurchase

#### Agreements
Borrowings:

Each

Fund

entered

into

a

borrowing

arrangement

(“Borrowings”)

as

a

means

of

leverage.

As

of

the

end

of

the

report