Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Van Kampen Unit Trusts, Municipal Series 1031 > News item |
Van Kampen Unit Trust Municipal Series 1031 offers units
By Toni Weeks
San Diego, Dec. 12 - Van Kampen Unit Trusts, Municipal Series 1031 is offering units of its Quality Municipals Income Trust, 52nd Limited Maturity Series, 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 federal tax-exempt income and the preservation of capital by investing in a portfolio of tax-exempt municipal bonds.
On the initial date of deposit, Dec. 12, $6,726,247 of contracts to purchase bonds comprised the trust, of which $6,395,000 represents the principal amount of bonds in the trust. Each of the 7,072 units has a public offering price of $994.92 and net asset value of $951.11.
The estimated annual net interest income is $39.54. The estimated current return is 3.97%, and the estimated long-term return is 3.33%.
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 bonds in the portfolio is 14 years.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.