Guggenheim Series 859 offers Short Duration High Yield Trust units

By Toni Weeks

San Diego, Jan. 26 - Guggenheim Defined Portfolios, Series 859 is offering units of its Guggenheim Short Duration High Yield Trust, Series 12, 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 current income by investing in a portfolio primarily consisting of high-yield corporate securities. The portfolio may contain corporate bonds, mortgage- and asset-backed securities, loan participations, pass-through securities and corporate instruments.

On the Jan. 26 inception date, $32,431,400 in contracts to purchase securities comprised the trust. The 33,653 units have a public offering price of $995.14 and net asset value of $963.70 each.

Each unit will carry a maximum sales fee of 2.95%. Sales charge reductions may be available depending on the number of units purchased.

The trust has a mandatory termination date of June 1, 2019.

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