Nuveen Municipal Credit Opportunities Fund: 10% owner JPMorgan Chase Bank sold 990 shares

What happened

• JPMorgan Chase Bank, N.A., identified as a 10% owner, reported disposing 990 Series C MuniFund Preferred Shares and acquiring 990 Series C MuniFund Preferred Shares on Oct 1, 2026. Table I shows price as N/A for both the disposition and the acquisition.
• Footnotes state the disposed MFP shares were transferred to the National Finance Authority in exchange for a liquidation preference payment of $98,943,550.24 plus accrued dividends of $0, and that JPMorgan Chase Bank acquired a National Finance Authority Class A Certificate for $74,250,000 that gives it an indirect beneficial interest in those MFP shares.

Key details

• Transaction date(s) and codes: Oct 1, 2026; both transactions reported with code J (other acquisition or disposition).
• Price(s): Table I lists price as N/A for both the disposed and acquired 990 shares; footnotes disclose transfer consideration of $98,943,550.24 and a Class A Certificate purchase price of $74,250,000.
• Shares owned after the transaction: not reported in Table I.
• Footnotes: F1 describes the transfer of MFP shares to the National Finance Authority and deposit into a trust that issued certificates representing indirect ownership; F2 describes JPMorgan Chase Bank’s acquisition of the Class A Certificate and its resulting indirect beneficial interest.
• Filing timeliness: not indicated in the filing.

Why it may matter

• This filing reports a 10% owner transferring direct holdings into a trust structure and acquiring a certificate that conveys an indirect beneficial interest; it does not report an option exercise or a gift.
• The holder is a 10% owner (a large holder), not an executive.
• A filing does not show why the insider traded or why the company acted.