Van Kampen Unit Trust Municipal 1034 offers investment grade units

By Tali David

Minneapolis, Dec. 20 - Van Kampen Unit Trusts, Municipal Series 1034 is offering units of its Investment Grade Municipal Trust, Intermediate Series 27 portfolio, according to an S-6 amendment 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 trust's inception date, Dec. 20, there is $5,573,945 in contracts to purchase underlying securities. The 5,813 units each have a public offering price of $994.95 and a net asset value of $958.88.

The estimated monthly current return is 3.84%, and the estimated long-term return is 2.6%. The estimated annual net interest income is $38.22.

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 11 years.

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