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Guggenheim Series 866 offers Dividend Strength, Health Care units
By Tali David
Minneapolis, Feb. 29 - Guggenheim Defined Portfolios, Series 866 is offering units of its Dividend Strength Portfolio, Series 7 and Health Care Portfolio, Series 13, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
The Dividend Strength Trust seeks to provide dividend income potential coupled with the potential for long-term capital appreciation. The trust consists of a diversified portfolio of dividend-paying equity securities that have historically increased their dividends.
On its Feb. 29 inception date, $150,186 in contracts to purchase securities comprised the trust. The 15,170 units each have a public offering price of $10 and a net asset value of $9.525 per unit.
The Health Care Trust seeks to maximize total return through capital appreciation with a secondary objective of current income. The trust consists of 40 stocks of companies that are classified as being in the health care sector or have a significant level of revenues directly derived from health care-related products and services.
On its Feb. 29 inception date, $150,475 in contracts to purchase securities comprised the trust. The 15,199 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%. Sales charge reductions of up to 1.5% of the public offering price are available based on the amount of the investment.
The Dividend Strength Trust has a mandatory termination date of Feb. 26, 2014, and the Health Care Trust has a mandatory termination date of Jan. 22, 2014.
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