Advisors Disciplined Trust 797 offers Senior Variable Rate units

By Toni Weeks

San Diego, Jan. 18 - Advisors Disciplined Trust 797 is offering units of its Senior Variable Rate and Income Closed-End Portfolio - 15 Month, Series 2012-1Q, according to an S-6 amendment with the Securities and Exchange Commission.

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

The trust seeks to provide high current income by investing in a portfolio of shares of closed-end funds that invest in senior corporate loans or other income-producing securities.

On the trust's inception date, Jan. 18, there is $148,693 of contracts to purchase underlying securities. The 15,019 units each have a public offering price of $10 and a net asset value of $9.655. The estimated net annual distribution is $0.6718 per unit.

The units have a maximum sales fee of 2.95%, consisting of a 1% initial sales fee, a 1.45% deferred sales fee and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 1.4% depending on the number of units purchased.

The trust has a termination date of April 23, 2013.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.