Advisors Disciplined Trust 702 registers Dividend Advantage units

By Toni Weeks

San Diego, Nov. 7 - Advisors Disciplined Trust 702 has registered units of its Series 2011-4Q Dividend Advantage Portfolio, according to a 487 filed with the Securities and Exchange Commission.

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

The trust seeks to provide above-average total return by investing in a portfolio primarily consisting of stocks of companies with prospects for revenue and earnings growth along with sustainability of its dividend.

On the trust's inception date, Nov. 7, there is $148,646 in contracts to purchase underlying securities and 15,015 units, each with a public offering price of $10.00 and a net asset value of $9.655. The estimated net annual distribution is $0.4178 per unit.

The units have a maximum sales fee of 2.95%, which consists of a 1% initial sales fee, a 1.35% deferred sales fee and a 0.6% creation and development fee. Reductions in the sales fee are available on a sliding scale down to 1.4% depending on the amount of the investment.

The trust's termination date is Feb. 5, 2013.

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