Van Kampen Series 1073 invests in bank, insurance company preferreds

By Toni Weeks

San Diego, Nov. 18 - Van Kampen Unit Trusts, Series 1073 has registered units of its Preferred Opportunity Portfolio, Series 16, 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 an attractive level of current income by investing in a portfolio of preferred securities issued primarily by financial institutions, such as banks and insurance companies.

As of the initial date of deposit, Nov.18, $148,233 in contracts to purchase securities comprises the fund. The 14,974 units each have a public offering price of $10 and a net asset value of $9.60. The estimated net annual income is $0.639 per unit.

Each unit will have a maximum sales charge of 3.5%, consisting of a 1% initial sales charge, a 2% deferred sales charge and a 0.5% creation and development fee. The sales charge may be reduced down to 1% depending on the amount of investment.

The trust has a mandatory termination date of Feb. 20, 2015.

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