Advisors Disciplined Trust 397 registers high-income portfolio units

By Toni Weeks

San Diego, Oct. 24 - Advisors Disciplined Trust 397 has registered units of its series 2 Advisors Corporate Trust-Navellier/Dial High Income Portfolio, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Monument, Colo.-based Advisors Asset Management, Inc.

The trust seeks to provide current income and capital preservation by investing in investment-grade interest-bearing corporate debt obligations.

The trust's inception date was July 17, 2009. The units are being offered at $1,051 apiece, each with a $908.91 principal amount of securities. The estimated current return is 6.34%, and the estimated long-term return is 1.52%. The estimated net annual interest income is $66.64 per unit.

As of June 30, the net asset value per unit was $1,033.20. The number of trust units outstanding on the same date was 18,016.

The maximum total sales fee is 2%.

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