Advisors Disciplined Trust 798 offers Covered Call and Income units

By Tali David

Minneapolis, Jan. 19 - Advisors Disciplined Trust 798 is offering units of its Global Covered Call and Income Strategies Closed-End Portfolio - 15 Month, Series 2012-1Q, according to an S-6 amendment with the Securities and Exchange Commission.

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

The trust seeks to provide high current income with capital appreciation as a secondary objective and consists primarily of shares of closed-end funds that invest in securities of foreign and/or U.S. issuers using covered call option or other income strategies.

On Jan. 19, the trust's inception date, $148,913 of contracts to purchase securities comprised the trust. The 15,042 units have an initial offering price of $10 and a net asset value of $9.655 each. The estimated net annual income is $1.2319 per unit.

Each unit carries a maximum sales fee of 2.95%, which is comprised of an initial sales fee of 1%, a deferred sales fee of 1.45% and a creation and development fee of 0.5%. The sales charge may be decreased down to 1.4% on a sliding scale based on the amount of the investment.

The trust has a mandatory termination date of April 19, 2013.

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