Guggenheim Series 888 offers Convertible & Income Portfolio units

By Toni Weeks

San Diego, April 11 - Guggenheim Defined Portfolios, Series 888 is offering units of its Convertible & Income Portfolio of Funds, Series 15, 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 and the potential for capital appreciation by investing at least 80% of the value of its assets in common shares of closed-end investment companies that are considered to be convertible funds and/or income funds and shares of an exchange-traded fund that invests substantially all of its assets in convertible securities.

On its April 11 inception date, $148,835 in contracts to purchase securities comprised the trust. The 15,034 units each have a public offering price of $10 and a net asset value of $9.525 per unit.

The units each carry a maximum sales charge of 3.95%%, consisting of a 1% initial sales fee, a 2.45% deferred sales fee and a 0.5% creation and development fee. Sales charge reductions of up to 1.5% of the public offering price are available, depending on the amount of the investment.

The trust has a mandatory termination date of April 19, 2014.

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