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Guggenheim Series 882 offers Flaherty & Crumrine Preferred units
By Toni Weeks
San Diego, Feb. 9 - Guggenheim Defined Portfolios, Series 882 is offering units of its Flaherty & Crumrine Preferred Portfolio, Series 27, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
The trust seeks to provide high current income with a secondary objective of capital appreciation by investing in a diversified portfolio of exchange-listed preferred stocks, trust preferred securities and baby bonds selected from Flaherty's preferred securities database and internally generated credit research.
On its Feb. 9 inception date, the trust comprised $150,284 in contracts to purchase securities. The 15,180 units each have a public offering price of $10 and a net asset value of $9.525 per unit.
Each unit carries a maximum sales fee of 3.95%, which comprises an initial sales fee of 1%, a deferred sales fee of 2.45% 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 trust has a mandatory termination date of May 14, 2014.
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