Nuveen Quality Preferred Income Fund 2 (JPS)

[Wildbilly]

Nuveen All Cap Energy MLP Opportunities Fund (JMLP)

Important Considerations
The Fund is a newly organized, non-diversified, closed-end management investment company designed primarily as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program and, due to the uncertainty inherent in all investments, there can be no assurance that the Fund will achieve its investment objective of providing a high level of total returns, including current distributions and capital appreciation. The Fund’s performance and the value of its investments will vary in response to changes in the financial conditions of issuers, perceptions of issuers, ratings of investments, other market factors, interest rates and inflation. The Fund's common shares at any point in time may be worth less than the original investment, even after taking into account the reinvestment of anticipated Fund dividends and distributions.

Investing in the Fund involves significant risks including, but not limited to: No Prior History, Investment and Market Risk, Market Discount from Net Asset Value and Expected Reductions in Net Asset Value Risk, Risks Related to Investments in MLP Units, U.S. Federal Budget Risk, Tax Risks, Affiliated Party Risk, Equity Securities Risk, Small Capitalization Risk, Energy Sector Risks (Commodity Price Risk, Depletion Risk, Supply and Demand Risk, Regulatory Risk, Acquisition Risk, Weather Risk, Catastrophic Event Risk) Industry Specific Risks (Pipelines, Gathering and Processing, Midstream, Exploration and Production, Propane, Coal, Marine Shipping) Delay In Use of Proceeds Risk, Interest Rate Risk, Inflation and Deflation Risk, Liquidity Risk, Restricted Securities Risk, Competition Risk, Cash Flow Risk, Capital Markets Risk, Valuation Risk, Below Investment Grade Risk, Leverage Risk, Non-U.S. Issuers and Emerging Markets Risk, Other Investment Companies Risk, Risks Associated with Options on Securities, ETNs Risk, Derivatives Risk, Counterparty Risk, Risks Related to the Fund’s Clearing Broker and Central Clearing Counterparty, Non-Diversified Status Risk, Certain Affiliations Risk, Potential Conflicts of Interest Risk, Initial Public Offering (“IPO”) Risk, Debt Ceiling Risk, and Anti-Takeover Provisions. Please see the “Risks” section in the Fund’s preliminary prospectus and "Special Risk Considerations" on pages 8–11 of the investor brochure for more information.

Because the Fund is newly organized and has not commenced business, its shares have no history of public trading and the Fund does not have any performance history.
Shares of the Fund may trade at a discount from their net asset value, which could be significant. The risk of loss due to this discount may be greater for investors who expect to sell their common shares in a relatively short period after completion of the public offering.
An investment in The Fund's common shares is subject to investment risk, including the possible loss of the entire amount of an investor’s investment.
The Fund’s net asset value will be reduced immediately following this offering by the underwriting commissions and the amount of offering costs paid by the Fund. Additionally, the Fund’s common share price will fluctuate and, at the same time, may be above or below net asset value and may be worth more or less than the original investment.
The Fund is offering the common shares through a group of underwriters including Nuveen Securities, LLC. Certain underwriters participating in this offering or their affiliates or employees may have a direct or indirect minority ownership interest in, or debt obligations of, Nuveen Investments, Inc., the parent company of Nuveen Fund Advisors, LLC, the Fund’s investment adviser.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This document is not an offer to sell these securities and is not a solicitation to buy these securities in any jurisdiction where the offer or sale is not permitted.

Before an investor invests, he or she should read the preliminary prospectus and consider the Fund’s investment objective and policies, risk considerations, charges and expenses carefully. Once the Fund's registration statement is effective, an investor should read the Fund's final prospectus, which contains the information described above, carefully. An investor may obtain these documents by visiting EDGAR on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, the Fund, any underwriter or any dealer participating in the offering will arrange to send the preliminary prospectus if requested by calling 877-827-5920. The information contained on this website, in the investor brochure, the advisor brochure and the preliminary prospectus is not complete and may be changed.

The information contained in, or that can be accessed through, Nuveen's website is not a part of the preliminary Prospectus, the Investor Brochure, or the Advisor Brochure.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.

Resources

Investor Brochure and
Preliminary Prospectus
http://www.nuveen.com/CEF/ResourceCenter/Default.aspx?center=jmlpipo