Fund Description: Nuveen S&P 500 Dynamic Overwrite Fund, formelry Nuveen Equity Premium Income Fund is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The Nuveen S&P 500 Dynamic Overwrite Fund seeks to provide a high level of current income and gains. The secondary investment objective is to seek capital appreciation consistent with the Fund's strategy and its primary objective. <p> FUND STRATEGY: The Fund intends to pursue its investment objectives by utilizing an integrated equity index option strategy. Under normal market circumstances, the Fund will invest its managed assets in a diversified equity portfolio that seeks to substantially replicate price movements of the Standard & Poor's 500 Stock Index and is designed to support the Fund's index option strategy. The Fund intends to pursue its investment objectives by utilizing an index option strategy of selling index call options and purchasing index put options, each on the Standard & Poor's 500 Stock Index. The Fund's index option strategy will consist of selling index call options to generate current income from premiums and purchasing index put options to provide a measure of protection to the Fund from a significant market decline over a short period of time. Initially, the Fund will sell index call options on a continuous basis on approximately 80% of the value of its equity portfolio. Thereafter, the Fund may elect to increase or decrease the amount of index call options sold by the Fund if deemed strategically advisable by the Fund's adviser and subadviser. By selling index call options on less than the full value of the equity portfolio, the Fund retains any potential capital appreciation or depreciation on the portion of the equity portfolio not effectively subject to the call options. Initially, the Fund will purchase index put options on approximately 80% of the value of its equity portfolio. Thereafter, the Fund may elect to vary the amount of index put options purchased by the Fund if deemed strategically advisable by the Fund's adviser and subadviser based on the relative cost of index put options compared to the protection afforded the equity portfolio by such index put options. <p> FUND MANAGEMENT: Nuveen Asset Management serves as the investment adviser to the Fund.