Van Kampen's Taxable Income Series 362 fund registers units

By Toni Weeks

San Diego, Dec. 6 - Van Kampen Unit Trusts, Taxable Income Series 362 has registered units of its Investment-Grade Income Trust, 20+ Year Series 10 portfolio, 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 a high level of current income and the preservation of capital by investing in a portfolio of long-term corporate bonds and taxable municipal bonds. The bonds may include Build America Bonds, Qualified School Construction Bonds, Qualified Energy Conservation Bonds and Clean Renewable Energy Bonds.

As of Nov. 21, the initial date of deposit, $15,550,438 of contracts to purchase bonds comprised the trust, of which $14 million represents the principal amount of bonds in the trust. Each of the 16,493 units has a public offering price of $994.98 and a net asset value of $942.85.

The estimated monthly current return is 5.2%, and the estimated long-term return is 4.82%.

Each unit will have a sales charge of 4.9%, which may be reduced depending on the amount of investment.

The weighted average maturity of the bonds in the trust is 27 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.