Advisors Disciplined Trust 780 targets investment-grade corporate debt

By Toni Weeks

San Diego, Oct. 21 - Advisors Disciplined Trust 780 has registered units of its series 38 Advisors Corporate Trust - Navellier/Dial High Income Opportunities Portfolio, 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 to provide above high current interest income and capital preservation by investing in a portfolio consisting primarily of interest-bearing, investment-grade corporate debt obligations.

Some of the bonds may be rated investment grade by only one of the credit rating organizations and either unrated or below investment grade by the others.

The initial 25,248 units will be priced at $1,000 apiece. As of the Oct. 21 inception date, each has a $950.57 principal amount of securities per unit. The estimated current return is 6.54%, and the estimated long-term return is 5.5%. The estimated net annual interest income per unit is $65.35.

As of Oct. 20, the weighted average maturity of securities is 5.16 years, and the weighted average modified duration of securities is 3.97 years.

The maximum total sales fee is 3%, which may decrease on a sliding scale to 1.5% as the number of units purchased increases.

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