Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 113

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 113
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 securities are    
 traded. To the extent that the options markets close before the markets for the underlying   
 securities, significant price and rate movements can take place in the underlying securities 
 that cannot be reflected in the options markets.                                             |

| ● | Index options based upon a narrower                                                       
 index of securities may present greater risks than options based on broad market indexes, 
 as narrower indexes are more susceptible to rapid and extreme fluctuations as a result of 
 changes in the values of a small number of securities.                                    |

| ● | The Fund is subject to the risk of                                                           
 market movements between the time that an option is exercised and the time of performance    
 thereunder, which could increase the extent of any losses suffered by the Fund in connection 
 with options transactions.                                                                   |

Futures Contracts

A futures contract is a standardized agreement
between two parties to buy or sell a specific quantity of an underlying instrument at a specific price at a specific future time (the
“settlement date”). Futures contracts may be based on a specified equity security (securities futures), a specified debt
security or reference rate (interest rate futures), the value of a specified securities index (index futures) or the value of a foreign
currency (forward contracts and currency futures). The value of a futures contract tends to increase and decrease in tandem with the
value of the underlying instrument. The buyer of a futures contract agrees to purchase the underlying instrument on the settlement date
and is said to be “long” the contract. The seller of a futures contract agrees to sell the underlying instrument on the settlement
date and is said to be “short” the contract. Futures contracts differ from options in that they are bilateral agreements,
with both the purchaser and the seller equally obligated to complete the transaction. Futures contracts call for settlement only on the
expiration date and cannot be “exercised” at any other time during their term.

Depending on the terms of the particular contract,
futures contracts are settled through either physical delivery of the underlying instrument on the settlement date (such as in the case
of securities futures and interest rate futures based on a specified debt security) or by payment of a cash settlement amount on the
settlement date (such as in the case of futures contracts relating to interest rates, foreign currencies and broad-based securities indexes).
In the case of cash settled futures contracts, the settlement amount is equal to the difference between the reference instrument’s
price on the last trading day of the contract and the reference instrument’s price at the time the contract was entered into