Guggenheim Defined Portfolios, Series 863 offers Zacks Income units

By Toni Weeks

San Diego, Feb. 15 - Guggenheim Defined Portfolios, Series 863 is offering units of its Zacks Income Advantage Strategy Portfolio, Series 16, 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 and the potential for capital appreciation by using a quantitative selection process developed by Zacks & Co. to select an investment portfolio. The portfolio includes common shares of closed-end investment companies, common stocks, American Depositary Receipts, master limited partnerships, real estate investment trusts and stocks of oil and energy companies and royalty trusts that derive the largest percentage of their total revenues from the oil and energy sector.

On Feb. 15, the trust's inception date, $150,142 in contracts to purchase securities comprised the trust. The 15,166 units each have a public offering price of $10.00 and a net asset value of $9.628.

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 trust will terminate on May 15, 2013.

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