Nuveen Municipal High Income (NMZ): BofA reports 52.4% AMTP preferred stake

Rhea-AI Filing Summary

Bank of America Corporation and Banc of America Preferred Funding Corp filed an amended ownership report for the Adjustable Rate MuniFund Term Preferred Shares of Nuveen Municipal High Income Opportunity Fund. They report beneficial ownership of 1,870 preferred shares, representing 52.4% of this class.

The amendment explains that on December 11, 2025, Banc of America Preferred Funding deposited 1,000 series 2032 AMTP shares (CUSIP 670682111) into a tender option bond trust, TOB Series 2025-BAP0001 Trust. The trust holds title but does not independently control disposition of the shares, so Banc of America Preferred Funding retains indirect beneficial and voting rights, which remain subject to an existing voting trust. The remaining 870 series 2028 AMTP shares (CUSIP 670682889) continue to be held directly.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND

(Name of Issuer)

ADJUSTABLE RATE MUNIFUND TERM PREFERRED SHARES

(Title of Class of Securities)

670682111

(CUSIP Number)

BANK OF AMERICA CORPORATION
BANK OF AMERICA CORPORATE CENTER, 100 N. TRYON STREET
Charlotte, NC, 28255
980-388-3188

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

12/11/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 670682111

1

Name of reporting person

BANK OF AMERICA CORP /DE/

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,870.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,870.00

11

Aggregate amount beneficially owned by each reporting person

1,870.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

52.4 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 670682111

1

Name of reporting person

Banc of America Preferred Funding Corp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,870.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,870.00

11

Aggregate amount beneficially owned by each reporting person

1,870.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

52.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: ADJUSTABLE RATE MUNIFUND TERM PREFERRED SHARES
(b)	Name of Issuer: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
(c)	Address of Issuer's Principal Executive Offices: 333 W WACKER DRIVE, CHICAGO, ILLINOIS , 60606.
Item 1 Comment: This Amendment No. 8 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated December 21, 2012 and filed with the SEC on December 28, 2012, (as amended to the date hereof, the "Original Schedule 13D"), for Bank of America Corporation ("BAC") and Banc of America Preferred Funding Corporation ("BAPFC") (collectively, the "Reporting Persons") with respect to the Adjustable Rate Muni Fund Term Preferred Shares ("AMTP Shares") of Nuveen Municipal High Income Opportunity Fund (the "Issuer"). This amendment is being filed in relation to the transfer by BAPFC of 1,000 AMTP series 2032 shares (CUSIP No. 670682111) into a tender option trust arrangement designated as the TOB Series 2025-BAP0001 Trust (the "TOB Trust") on December 11, 2025. The TOB Trust has title to such 1,000 AMTP Shares but does not independently have the power to dispose or direct the disposition of the AMTP Shares. BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the AMTP Shares, including with respect to the voting rights on the AMTP Shares, which additionally remain subject to the Voting Trust. The 870 AMTP series 2028 shares (CUSIP No. 670682889) held by BAPFC and referenced in the responses of the Reporting Persons to Rows (7) through (11) of the cover pages were not transferred into the TOB Trust and remain directly held by BAPFC.
Item 2.	Identity and Background
(c)	Item 2(c) of the Original Schedule 13D is hereby amended by deleting Schedule I referenced therein and replacing it with Schedule I included with this Amendment.
(d)	Item 2(d) of the Original Schedule 13D is hereby amended by deleting Schedule II referenced therein and replacing it with Schedule II included with this Amendment.
Item 5.	Interest in Securities of the Issuer
(a)	The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Statement are incorporated herein by reference.
(b)	The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Statement are incorporated herein by reference.
(c)	On December 11, 2025, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,000 AMTP series 2032 shares (CUSIP No. 670682111) into a tender option trust arrangement designated as the TOB Series 2025-BAP0001 Trust (the "TOB Trust") on December 11, 2025. The TOB Trust has title to such 1,000 AMTP Shares but does not independently have the power to dispose or direct the disposition of the AMTP Shares. PFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the RVMTP Shares, including with respect to the voting rights on the AMTP Shares, which additionally remain subject to the Voting Trust. The 870 AMTP series 2028 shares (CUSIP No. 670682889) held by BAPFC and referenced in the responses of the Reporting Persons to Rows (7) through (11) of the cover pages were not transferred into the TOB Trust and remain directly held by BAPFC.
(d)	No other person is known by the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the transfer of, the AMTP Shares beneficially owned by the Reporting Persons.
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Schedule 13D is hereby amended by adding the following language after the last paragraph thereof: On December 11, 2025, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,000 AMTP Shares into a tender option trust arrangement designated as the TOB Series 2025-BAP0001 Trust (the "TOB Trust") pursuant to the TOB Trust Agreement, dated December 11, 2025, among FMSBonds, Inc, as Trustor, Wilmington Trust, National Association, as Delaware Trustee, Wilmington Trust, National Association, as Trustee Wilmington Trust, National Association, as Tender Agent, Bank of America, National Association, solely in its capacity as the Tender Option Provider and BAPFC. The TOB Trust has title to such 1,000 AMTP Shares but does not independently have the power to dispose or direct the disposition of the AMTP Shares. PFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the AMTP Shares, including with respect to the voting rights on the AMTP Shares, which additionally remain subject to the Voting Trust. Such tender option bond arrangement additionally is related to that certain Custody Agreement by and among Wilmington Trust, National Association, as custodian FMSBonds, Inc., as depositor and BAPFC, dated December 11, 2025.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits: Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Power of Attorney 99.7 Schedule I 99.8 Schedule II 99.9 TOB Trust Agreement dated December 11, 2025 99.10 Custody Agreement dated December 11, 2025

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF AMERICA CORP /DE/

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	12/15/2025

Banc of America Preferred Funding Corp

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	12/15/2025

FAQ

What securities and issuer are covered in this NMZ Schedule 13D/A amendment?

The report covers Adjustable Rate MuniFund Term Preferred Shares (AMTP Shares) issued by Nuveen Municipal High Income Opportunity Fund, which trades under the symbol NMZ.

How many AMTP shares do Bank of America entities beneficially own in NMZ?

The reporting persons disclose beneficial ownership of 1,870 AMTP shares, representing 52.4% of this preferred share class.

What transaction triggered Amendment No. 8 to the NMZ Schedule 13D?

On December 11, 2025, Banc of America Preferred Funding Corp deposited 1,000 AMTP series 2032 shares (CUSIP 670682111) into the TOB Series 2025-BAP0001 Trust, a tender option bond trust.

Who are the reporting persons in this Nuveen Municipal High Income Opportunity Fund (NMZ) filing?

The reporting persons are Bank of America Corporation and Banc of America Preferred Funding Corporation, both organized in Delaware.

Do Bank of America entities retain control over the AMTP shares placed into the TOB trust?

The TOB trust holds title to the 1,000 AMTP shares but does not independently have power to dispose of them. Banc of America Preferred Funding retains indirect beneficial ownership and voting rights, which remain subject to a voting trust.

Are any other parties entitled to dividends or sale proceeds from these NMZ AMTP shares?

The reporting persons state that no other person is known to have the right to receive or direct the receipt of dividends or proceeds from the AMTP shares they beneficially own.

What related agreements are referenced in connection with the TOB trust for NMZ preferred shares?

The filing references a TOB Trust Agreement and a Custody Agreement, each dated December 11, 2025, involving FMSBonds, Inc., Wilmington Trust, National Association, Bank of America, National Association, and Banc of America Preferred Funding Corp.