Van Kampen Unit Trusts to offer investment-grade income trust units

By Toni Weeks

San Diego, Oct. 19 - Van Kampen Unit Trusts, Taxable Income series 349 has registered units of its series 10 7+-year Investment-Grade Income Trust, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Houston-based Van Kampen Funds Inc.

The trust seeks to provide a high level of current income and preservation of capital by investing in a portfolio of intermediate-term corporate bonds and taxable municipal bonds, including Build America, qualified school construction, qualified energy conservation and clean renewable bonds. The portfolio generally consists of bonds maturing in about seven to 13 years from the date of deposit.

On the Oct. 19 inception date, the trust will be comprised of $5,315,000 principal amount of bonds consisting of 5,931 units, each with a public offering price of $994.89. Each unit may incur a maximum sales charge of 3% of the public offering price. The estimated current return is 4.19%, and the estimated long-term return is 3.46%. Distributions will be paid monthly.

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