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Van Kampen's Series 1198 offers Allocation, Diversified Income units
By Tali David
Minneapolis, March 8 - Van Kampen Unit Trusts, Series 1198 is offering units of its ETF Allocation Portfolio, Series 10 and ETF Diversified Income Portfolio, Series 8, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Houston-based Van Kampen Funds Inc.
The ETF Allocation Portfolio seeks above-average capital appreciation by investing in a portfolio that consists of exchange-traded funds that invest in stocks and fixed-income securities, and exchange-traded notes. The portfolio provides broad market exposure to focused equity and fixed income styles through the use of ETFs.
On the initial date of deposit, March 8, $148,745 in contracts to purchase securities comprises the trust. The 15,025 units each have a public offering price of $10 and a net asset value of $9.655. The estimated net annual income is $0.23127 per unit.
The ETF Diversified Income Portfolio seeks above-average capital appreciation with high current income by investing in a portfolio that consists of exchange-traded funds that invest in stocks and fixed income securities. The Portfolio provides broad market exposure to focused equity and fixed-income styles through the use of ETFs.
On the initial date of deposit, March 8, $148,726 in contracts to purchase securities comprises the trust. The 15,023 units each have a public offering price of $10 and a net asset value of $9.655. The estimated net annual income is $0.44480 per unit.
The units each carry a maximum sales charge of 2.95%, consisting of a 1% initial sales charge, a 1.45% deferred sales charge and a 0.5% creation and development fee. The sales charge may be reduced on a sliding scale to 1.2% depending on the amount of the investment.
The trusts have a mandatory termination date of June 7, 2013.
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