| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Guggenheim Defined Portfolios, Series 862 > News item |
Guggenheim Series 862 offers Corporate High Yield and Income, Strategic Income portfolio units
By Tali David
Minneapolis, Feb. 8 - Guggenheim Defined Portfolios, Series 862 is offering units of its Corporate High Yield and Income Portfolio of CEFs, Series 19 and Strategic Income Portfolio, Series 59, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
The Corporate High Yield Trust seeks to provide high current income and the potential for capital appreciation. The trust contains common shares of closed-end investment companies, the majority of which contain portfolios that are concentrated in high-yield securities.
On its Feb. 8 inception date, $151,020 in contracts to purchase securities comprised the trust. The 15,255 units each have a public offering price of $10 and a net asset value of $9.525 per unit.
Each unit carries a maximum sales fee of 3.95%, which is comprised of an initial sales fee of 1%, a deferred sales fee of 2.45% and a creation and development fee of 0.5%.
The Strategic Income Trust seeks to provide current income and the potential for capital appreciation by investing in common shares of closed-end investment companies that are considered to be income funds.
On its Feb. 8 inception date, $150,944 in contracts to purchase securities comprised the trust. The 15,094 units each have a public offering price of $10 and a net asset value of $9.525 per unit.
Each unit carries a maximum sales fee of up to 4.45%, consisting of a creation and development fee of 0.5% and a deferred sales fee of up to 3.95% that depends on the public offering price, which will vary over time after the initial offering.
For both trusts, sales charge reductions of up to 1.5% of the public offering price are available based on the amount of the investment.
The trusts have a mandatory termination date of Feb. 12, 2014.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.