Advisors Disciplined Trust 861 offers New Jersey Municipal units

By Tali David

Minneapolis, April 5 - Advisors Disciplined Trust 861 is offering units of its New Jersey Municipal Closed-End Portfolio, Series 2012-1, 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 income exempt from federal and New Jersey income taxes with capital appreciation potential by investing in a portfolio primarily consisting of common stock of closed-end investment companies that invest primarily in municipal bonds issued primarily by New Jersey issuers.

On April 5, the trust's inception date, $148,974 of contracts to purchase securities comprised the trust. The 15,048 units have an initial offering price of $10 and a net asset value of $9.555 each. The estimated net annual distribution per unit is $0.5303 for the first year and $0.5195 for subsequent years.

Each unit carries a maximum sales fee of 3.95%, which is comprised of an initial sales fee of 1%, a deferred sales fee of 2.45% and a creation and development fee of 0.5%. The sales charge may be reduced to 2.45% based on the amount of the investment.

The trust has a mandatory termination date of April 4, 2014.

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