Van Kampen Taxable 373 offers Investment Grade Income Trust units

By Tali David

Minneapolis, Feb. 21 - Van Kampen Unit Trusts, Taxable Income Series 373 is offering units of its Investment Grade Income Trust, 10-20 Year Series 20, according to an S-6 amendment 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 to preserve capital by investing in a portfolio of corporate bonds and taxable municipal bonds maturing approximately 10 to 20 years from the date of deposit, including Build America Bonds, Qualified School Construction Bonds, Qualified Energy Conservation Bonds and Clean Renewable Energy Bonds.

On the trust's initial date of deposit, Feb. 21, there is $13,556,995 in contracts to purchase underlying securities, of which $11.63 million represents the principal amount of bonds in the trust. The 14,227 units each have a public offering price of $994.97 and a net asset value of $952.91.

The estimated monthly current return is 5.08%, and the estimated long-term return is 4.46%. The estimated annual net interest income is $50.50 per unit.

Each unit will have a sales charge of 3.9%, which may be reduced depending on the amount of investment.

The weighted average maturity of the bonds in the trust is 18 years.

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