Van Kampen Taxable 380 offers Global Bond Income Trust, Series 2 units

By Tali David

Minneapolis, March 15 - Van Kampen Unit Trusts, Taxable Income Series 380 is offering units of its Global Bond Income Trust, Series 2, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Houston-based Van Kampen Funds Inc.

The trust seeks to provide a high level of current income and to preserve capital by investing in a portfolio primarily consisting of foreign corporate and sovereign bonds with maturities of roughly five years or less from the date of deposit.

On the trust's initial date of deposit, March 15, there is $24,645,411 in contracts to purchase underlying securities, of which $23,468,040 represents the principal amount of bonds in the trust. The 25,723 units each have a public offering price of $995.00 and a net asset value of $958.11.

The estimated monthly current return is 5.54%, and the estimated long-term return is 3.46%. The estimated annual net interest income is $55.17 per unit.

Each unit will have a sales charge of 3.5%, which may be reduced depending on the amount of investment.

The weighted average maturity of the bonds in the trust is 3.4 years.

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