Van Kampen Series 1186 offers North American Rail Portfolio units

By Tali David

Minneapolis, Jan. 31 - Van Kampen Unit Trusts, Series 1186 is offering units of its North American Rail Portfolio, Series 1, according to an S-6 amendment with the Securities and Exchange Commission.

The depositor is Houston-based Van Kampen Funds Inc.

The portfolio seeks to provide the potential for capital appreciation by investing in a portfolio of stocks of North American railroad companies.

On Jan. 31, the initial date of deposit, $148,434 of contracts to purchase securities comprised the trust. The 14,994 units have an initial offering price of $10 and a net asset value of $9.672 each. The estimated net annual income is $0.14165 per unit.

The trust has a maximum sales charge of 2.95%, which includes a 1% initial sales charge, a 1.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 1.2% depending on the amount of the investment.

The trust has a mandatory termination date of May 15, 2013.

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