Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 227

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 227
---
 not address the tax consequences to shareholders who are subject to special rules, including, without limitation, shareholders with large positions in the Acquiring Fund, financial institutions, insurance companies, dealers in securities or foreign currencies, non-U.S. shareholders, persons who hold their shares as or in a hedge against currency risk, a constructive sale, conversion transaction or other integrated transaction, holders who are subject to the federal alternative minimum tax, investors with “applicable financial statements” within the meaning of section 451(b) of the Internal Revenue Code of 1986, as amended (the “Code”), or tax-exempt or tax-advantaged plans, accounts, or entities. In addition, the discussion does not address any state, local or foreign tax consequences. The discussion reflects applicable federal income tax laws of the United States as of the date of this SAI, which tax laws may be changed or subject to new interpretations by the courts or the Internal Revenue Service (“IRS”) retroactively or prospectively. No attempt is made to present a detailed explanation of all federal income tax concerns affecting the Acquiring Fund and its shareholders, and the discussion set forth herein does not constitute tax advice. Investors are urged to consult their own tax advisers to determine the specific tax consequences to them of investing in the Acquiring Fund, including the applicable federal, state, local and foreign tax consequences to them and the effect of possible changes in tax laws.

For purposes of this summary, a “U.S. shareholder” is a beneficial owner of shares of the Acquiring Fund that is for U.S. federal income tax purposes:

| ● | a citizen or individual resident of the United States (including 
 certain former citizens and former long-term residents);         |

| ● | a corporation or other entity treated as a corporation for U.S.                                                                               
 federal income tax purposes, created or organized in or under the laws of the United States or any state thereof or the District of Columbia; |

| ● | an estate, the income of which is subject to U.S. federal income 
 taxation regardless of its source; or                            |

| ● | a trust with respect to which a court within the United States                                                                             
 is able to exercise primary supervision over its administration and one or more United States persons (as such term is defined under       
 the Code) have the authority to control all of its substantial decisions or the trust has made a valid election in effect under applicable 
 Treasury regulations to be treated as a United States person under the Code).                                                              |

A “non-U.S. shareholder” is