Advisors Disciplined Trust 866 registers Tax Exempt Municipal units

By Toni Weeks

San Diego, March 28 - Advisors Disciplined Trust 866 has registered units of its Tax Exempt Municipal Portfolio, Investment Grade April 2012 Series, according to an S-6 filing with the Securities and Exchange Commission.

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

The trust will seek to provide federally tax-exempt interest income and capital preservation by investing in a portfolio consisting primarily of long-term municipal bonds rated investment quality as of the trust's inception.

Each $1,000 unit will carry a maximum sales fee of 3%.

The trust's inception date is planned for April.

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