Nuveen Multi-Strategy Income and Growth Fund 2 (the Fund), formerly Nuveen Preferred and Convertible Income Fund 2, is a diversified, closed-end management investment company. The Fund seeks to provide high income by investing primarily in a portfolio of preferred securities, domestic and international equity securities, high-yield securities and convertible securities. The Fund is also authorized to invest in interest rate swap transactions and futures contracts. The Fund invests in various industries, including commercial banks, insurance, real estate investment trusts, media, and oil and gas ad consumable fuels. The Fund’s investment advisor is Nuveen Asset Management, a wholly owned subsidiary of Nuveen Investments, Inc. The Fund’s sub-advisors are Spectrum Asset Management, Inc., Tradewinds Global Investors, LLC and Symphony Asset Management, LLC.