Van Kampen Municipal 1054 offers Investors' Quality Tax-Exempt units

By Tali David

Minneapolis, Feb. 1 - Van Kampen Unit Trusts, Municipal Series 1054 is offering units of its Investors' Quality Tax-Exempt Trust, Series 157, according to an S-6 amendment with the Securities and Exchange Commission.

The depositor is Houston-based Van Kampen Funds Inc.

The trust seeks to provide federal tax-exempt income and to preserve capital by investing in a portfolio of municipal bonds issued by or on behalf of states and territories of the United States that is excludable from gross income for federal personal income tax purposes under existing law.

On the trust's initial date of deposit, Feb. 1, there is $10,826,757 in contracts to purchase underlying securities, of which $10,095,000 represents the principal amount of bonds in the trust. The 11,490 units each have a public offering price of $994.95 and a net asset value of $942.28.

The estimated monthly current return is 4.12%, and the estimated long-term return is 3.28%. The estimated annual net interest income is $40.97 per unit.

Each unit will have a sales charge of 4.9%, which may be reduced depending on the amount of investment.

The weighted average maturity of the bonds in the trust is 27 years.

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