Guggenheim Series 860 offers Growth & Income, Discount Opportunity, Tax-Exempt units

By Tali David

Minneapolis, Jan. 24 - Guggenheim Defined Portfolios, Series 860 is offering units of its Guggenheim Growth & Income Strategy Portfolio of CEFs, Series 1, Guggenheim Discount Opportunity Strategy Portfolio of CEFs, Series 1 and Guggenheim Tax-Exempt Strategy Portfolio of CEFs, Series 1, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.

The Growth & Income Trust seeks to provide current income and the potential for capital appreciation by investing in common shares of closed-end investment companies that the sponsor believes have attractive discount valuations and stable distribution histories.

On its Jan. 24 inception date, $150,489 in contracts to purchase securities comprised the trust. The 15,201 units each have a public offering price of $10 and a net asset value of $9.625 per unit.

The Discount Opportunity Trust seeks to provide capital appreciation by investing in common shares of closed-end investment companies that are currently trading at a greater discount to their net asset value than their historical NAV discount over the past two years.

On its Jan. 24 inception date, $150,273 in contracts to purchase securities comprised the trust. The 15,179 units each have a public offering price of $10 and a net asset value of $9.625 per unit.

The Tax-Exempt Trust seeks to provide current income that is exempt from federal income taxes and the potential for capital appreciation. The trust contains common shares of closed-end investment companies, all of which contain portfolios that are concentrated in tax-exempt municipal bonds.

On its Jan. 24 inception date, $150,086 in contracts to purchase securities comprised the trust. The 15,160 units each have a public offering price of $10 and a net asset value of $9.625 per unit.

Each unit carries a maximum sales fee of 2.95%, which comprised an initial sales fee of 1%, a deferred sales fee of 1.45% and a creation and development fee of 0.5%. Sales charge reductions are available based on the amount of the investment.

The trusts have a mandatory termination date of May 7, 2013.

© 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.