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Simpson Thacher represented the underwriters, led by Wells Fargo Securities, BofA Merrill Lynch, UBS Investment Bank and Nuveen Investments, LLC, in connection with the initial public offering of Nuveen Mortgage Opportunity Term Fund (the "Fund"). The offering raised $400 million, assuming full exercise of the underwriters' option to purchase additional shares.

The Fund is a newly organized, non-diversified closed-end management investment company which trades on the New York Stock Exchange under the symbol “JLS”. The Fund's investment objective is to generate attractive total returns through opportunistic investments in mortgage-backed securities, both directly and indirectly through a separate investment in a public-private investment partnership ("PPIP Fund") formed pursuant to the Public-Private Investment Program established by the U.S. Department of the Treasury. Nuveen Asset Management is the Fund's investment manager and Wellington Management Company, LLP is the Fund's subadviser and the adviser to the PPIP Fund.

The Simpson Thacher team for the transaction included: Sarah Cogan, Robert Griffith, and Medard Fischer (Capital Markets); Jonathan Cantor and Rian Balfour (Tax); Jennie Getsin (Blue Sky and FINRA); and Joyce Xu and Daniel Bae (Derivatives). Paralegal Kathryn Reusi provided valuable assistance.