Advisors Disciplined Trust 860 offers Tax Exempt Municipal units

By Tali David

Minneapolis, March 27 - Advisors Disciplined Trust 860 is offering units of its Tax Exempt Municipal Portfolio, Investment Grade March 2012 Series - an SMC FIM 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 interest income exempt from federal personal income tax and to provide capital preservation by investing in a portfolio primarily consisting of long-term municipal bonds rated investment quality as of the trust's inception.

On March 27, the trust's inception date, $12,497,962 of contracts to purchase securities comprised the trust. The 12,951 units have an initial offering price of $1,000 and a net asset value of $965.02 each. The estimated current return is 4.31% and the estimated long-term return is 4%. The estimated net annual interest income per unit is $43.13.

Each unit carries a maximum sales fee of 3%. The fee may be reduced to 1.5% depending on the number of units purchased.

The weighted average maturity of the securities is 19.83 years.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.