Advisors Disciplined Trust 860 registers Tax Exempt Municipal units

By Tali David

Minneapolis, March 14 - Advisors Disciplined Trust 860 registered units of its Tax Exempt Municipal Portfolio, Investment Grade March 2012 Series - an SMC FIM Portfolio, according to an S-6 filed with the Securities and Exchange Commission.

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

The trust will seek to provide interest income exempt from federal personal income tax and to provide capital preservation by investing in a portfolio primarily consisting of long-term municipal bonds rated investment quality as of the trust's inception. The portfolio was selected by portfolio consultant SMC Fixed Income Management, LP.

The units will each have a public offering price of $1,000. Each unit carries a maximum sales fee of 3%, which may be reduced on a sliding scale depending on the number of units purchased.

The trust will have an inception date in March.

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