Advisors Disciplined Trust 787 targets business development companies

By Toni Weeks

San Diego, Dec. 14 - Advisors Disciplined Trust 787 has registered units of its Business Development Company Opportunities Portfolio, Series 2011-2, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Monument, Colo.-based Advisors Asset Management, Inc.

The trust seeks high current income with capital appreciation potential by investing in a portfolio of common stock of closed-end investment companies that have elected to be treated as business development companies under the Investment Company Act of 1940.

On the trust's inception date, Dec. 14, there is $147,476 in contracts to purchase underlying securities. The 14,897 units each have a public offering price of $10 and a net asset value of $9.555.

The estimated net annual distribution is $0.9271 for the first year and $0.9072 for the second year.

The units have a maximum sales fee of 3.95%, consisting of a 1% initial sales fee, a 2.35% deferred sales fee and a 0.6% creation and development fee. The fee may be reduced on a sliding scale down to 2.45% depending on the number of units purchased.

The trust has a termination date of Dec. 13, 2013.

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