Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 100

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 100
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 Jersey Municipal VRDP Shares or Pennsylvania VRDP Shares held immediately prior to the closing of the Merger. The economic terms of any New VRDP Shares likely may not be the same as the terms of the outstanding AMTP Shares of the Acquiring Fund or other preferred shares issued in the Mergers. The number and terms of VRDP Shares of New Jersey Municipal or of Pennsylvania Municipal currently outstanding may change prior to the Merger due to market or other conditions, and the Acquiring Fund may determine to combine two or more series of Target Fund preferred shares into a smaller number of series of Acquiring Fund preferred shares. See “Additional Information About the Acquiring Fund—Description of Outstanding Acquiring Fund MFP Shares” and “—Description of Outstanding Acquiring Fund VRDP Shares.”

Holders of the New VRDP Shares will be entitled to receive cash dividends when, as and if declared by the Acquiring Fund’s Board. The amount of dividends per New VRDP Share payable on any dividend payment date will equal the sum of dividends accumulated for each day but not yet paid during the relevant dividend period. The Acquiring Fund expects that the amount of dividends will be calculated based on an index rate equal to the SIFMA Municipal Swap Index, a percentage of the one-month term Secured Overnight Financing Rate (SOFR) or such other benchmark rate (depending on the series), or another index plus an applicable spread. The applicable spread will be subject to adjustment in certain circumstances, including a change in the credit rating assigned to the New VRDP Shares. The dividend rate shall in no circumstances exceed 15% per year for any dividend rate period.

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The outstanding VRDP Shares of New Jersey Municipal have a final mandatory redemption date of August 3, 2043, with respect to Series 1, and April 1, 2043 with respect to Series 2 and Series 3, subject to earlier redemption or repurchase. The outstanding VRDP Shares for Pennsylvania Municipal have a final mandatory redemption date of December 1, 2042 for each of Series 2 and Series 3, subject to earlier redemption or repurchase. The New VRDP Shares are expected to have the same final mandatory redemption date as the corresponding New Jersey Municipal VRDP Shares or Pennsylvania Municipal VRDP Shares, as applicable.

The New VRDP Shares will be subject to optional and mandatory redemption in certain circumstances. The Acquiring Fund will be obligated to redeem the New VRDP Shares on the applicable final mandatory redemption date, unless