Company: JPC
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230231
Chunk: 33

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 33
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 effects of such investments were included, the asset coverage amounts presented would be lower. |

| (d) | Asset Coverage Per $100,000: Asset coverage per $100,000 is calculated by subtracting the Fund’s liabilities and indebtedness not represented by senior securities from the Fund’s total assets, dividing the result by the aggregate of the involuntary liquidation preference of the outstanding preferred shares and multiplying the result by 100,000. For purpose of asset coverage above, senior securities consist of preferred shares or borrowings (excluding temporary borrowings) of a Fund and does not include derivative transactions and other investments that have the economic effect of leverage such as reverse repurchase agreements and tender option bonds. If the leverage effects of such investments were included, the asset coverage amounts presented would be lower. |

| (e) | Includes all borrowings and preferred shares presented for the Fund. |

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Notes to Financial Statements

| 1. | General Information |

Fund Information:The funds covered in this report and their corresponding New York Stock Exchange (“NYSE”) symbols are as follows (each a “Fund” and collectively, the “Funds”):

| • | Nuveen Floating Rate Income Fund (JFR) |

| • | Nuveen Credit Strategies Income Fund (JQC) |

| • | Nuveen Preferred & Income Opportunities Fund (JPC) |

| • | Nuveen Preferred Securities & Income Opportunities Fund (JPI) |

| • | Nuveen Variable Rate Preferred & Income Fund (NPFD) |

The Funds are registered under the Investment Company Act of 1940 (the “1940 Act”), as amended, as closed‑end management investment companies. JFR, JQC, JPC, JPI and NPFD were each organized as Massachusetts business trusts on January 15, 2004, March 17, 2003, January 27, 2003, April 18, 2012 and June 1, 2021, respectively. Current Fiscal Period: The end of the reporting period for the Funds is July 31, 2025, and the period covered by these Notes to Financial Statements is the fiscal year ended July 31, 2025 (the “current fiscal period”). Investment Adviser and Sub‑Adviser:The Funds’ investment adviser is Nuveen Fund Advisors, LLC (the “Adviser”), a subsidiary of Nuveen, LLC (“Nuveen”). Nuveen is the investment management arm of Teachers Insurance and Annu