Van Kampen's Taxable Income Series 368 offers Investment Grade units

By Toni Weeks

San Diego, Jan. 23 - Van Kampen Unit Trusts, Taxable Income Series 368 is offering units of its Investment Grade Income Trust, 7+ Year Series 14, 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 capital preservation by investing in a portfolio of intermediate-term corporate bonds and taxable municipal bonds, including Build America Bonds, Qualified School Construction Bonds, Qualified Energy Conservation Bonds and Clean Renewable Energy Bonds.

As of Jan. 23, the initial date of deposit, $6,714,708 of contracts to purchase bonds comprised the trust, of which $6.34 million represents the principal amount of bonds in the trust. Each of the 6,994 units has a public offering price of $994.96 and a net asset value of $960.07.

The estimated monthly current return is 4.18%, and the estimated long-term return is 3.57%. The estimated annual net interest income is $41.58.

Each unit will have a sales charge of 3%, which may be reduced depending on the amount of investment.

The weighted average maturity of the bonds in the trust is 10 years.

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