Van Kampen Unit Trust 1039 offers investment-grade municipal units

By Tali David

Minneapolis, Dec. 21 - Van Kampen Unit Trusts, Municipal Series 1039 if offering units of its Investment Grade Municipal Trust, Intermediate Series 140, 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 federal tax-exempt income and to preserve capital by investing in a portfolio of municipal bonds issued by or on behalf of states and territories of the United States, the interest on which is excludable from gross income for federal personal income tax purposes under existing law.

On the trust's inception date, Dec. 21, there is $18,030,607 in contracts to purchase underlying securities. The 19,116 units each have a public offering price of $994.95 and a net asset value of $943.22.

The estimated monthly current return is 4.52%, and the estimated long-term return is 4.24%. The estimated annual net interest income is $44.95.

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 26 years.

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