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Guggenheim's Series 857 invests in 30 utilities sector stocks
By Toni Weeks
San Diego, Jan. 25 - Guggenheim Defined Portfolios, Series 857 is offering units of its Utilities Portfolio, Series 15, 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 a high level of income with capital growth as a secondary objective. Its portfolio consists of 30 stocks classified as being in the utilities sector. The stocks are diversified across the sector and represent integrated electric, pipeline and gas distribution companies, among others.
On the Jan. 25 inception date $150,279 in contracts to purchase securities comprised the trust. The 15,180 units each have a public offering price of $10.00 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 charge 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 will terminate on Jan. 22, 2014.
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