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Guggenheim Series 864 offers Bullish Equity, Defensive Equity units
By Tali David
Minneapolis, Feb. 15 - Guggenheim Defined Portfolios, Series 864 is offering units of its Guggenheim Bullish Equity Portfolio, Series 5 and Guggenheim Defensive Equity Portfolio, Series 5, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
The Bullish Equity Portfolio seeks to provide total return through capital appreciation by investing in a portfolio of 50 equity securities of U.S.-listed companies whose businesses have high sensitivity to changes in the economy and that have valuation, leverage and profitability that, when combined, have been shown to historically outperform the broad universe of U.S. equities.
On its Feb. 15 inception date, $150,624 in contracts to purchase securities comprised the trust. The 15,215 units each have a public offering price of $10 and a net asset value of $9.625 per unit.
The Defensive Equity Portfolio seeks to provide total return through capital appreciation by investing in a portfolio of 50 equity securities of U.S.-listed companies whose businesses have low sensitivity to changes in the economy and that have valuation, leverage and profitability that, when combined, have been shown to historically outperform the broad universe of U.S. equities.
On its Feb. 15 inception date, $149,911 in contracts to purchase securities comprised the trust. The 15,142 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 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%. Sales charge reductions of up to 1.5% of the public offering price are available based on the amount of the investment.
The trusts have a mandatory termination date of May 15, 2013.
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