Guggenheim Defined Portfolios Series 738 eyes high-yield securities

By Toni Weeks

San Diego, Nov. 17 - Guggenheim Defined Portfolios, Series 738 has registered units of its Guggenheim Short Duration High-Yield Trust, Series 10, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.

The trust seeks to provide current income by investing in a portfolio primarily consisting of high-yield corporate securities.

On the inception date, Nov. 17, $27,028,864 of contracts to purchase securities comprised the trust. The 27,029 units each have a price of $1,022.57 and a net asset value of $970.49.

The units will carry a deferred sales charge of 2.95%. Sales-charge reductions from $2.50 to $17.00 per unit are available based on the amount of investment.

The trust's mandatory termination date is Sept. 15, 2018.

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