Dividend Sustainability Buy-Write Portfolio (DSBW0193)

Objective

The Portfolio seeks to provide income with the potential for limited capital appreciation. The Portfolio seeks to achieve its objective by investing in a portfolio consisting of common stocks of companies ("Covering Securities") derived from the S&P 500 Dividend Aristocrats Index and U.S. Treasury Obligations ("Treasury Obligations"). Each Covering Security is subject to a contractual right, in the form of Long Term Equity AnticiPation Securities® ("LEAPS") which gives the holder of the LEAPS the right to buy the corresponding Covering Security at a predetermined price from the Portfolio on any business day prior to the expiration of the LEAPS. The writing (selling) of the LEAPS generates premium income which is used to purchase Treasury Obligations.

as of 08/30/2019

Style Map

1The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.

The trust portfolio is provided for informational purposes only and should not be deemed as a recommendation to buy or sell the individual securities shown above.


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors and the amount of any dividend may vary over time. There can be no guarantee or assurance that companies will declare dividends in the future or that if declared, they will remain at current levels or increase over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio’s pro¿ts and losses.

Writing LEAPS reduces the value of your Units. As the value of the LEAPS increases, it has a negative impact on the value of your Units. The value of a LEAPS does not increase or decrease at the same rate as the underlying Covering Security.

The Portfolio has limited potential for capital appreciation. As the writer of LEAPS, the Portfolio forgoes the opportunity to pro¿t from increases in the market value of the Covering Securities above the sum of the premium and the strike price of the corresponding LEAPS, but retains the risk of loss should the price of the Covering Securities decline.

The LEAPS may be exercised on any business day prior to their expiration. This may result in the Covering Securities being sold to the option holders of the LEAPS prior to the termination of the Portfolio which could trigger adverse tax consequences.

The Portfolio invests in Treasury Obligations. Treasury Obligations are direct obligations of the United States which are backed by the full faith and credit of the United States. This guarantee does not apply to the market value of the Treasury Obligations or Units of the Portfolio.

The value of the Treasury Obligations will generally fall if interest rates, in general, rise. In a low interest rate environment risks associated with rising rates are heightened. No one can predict whether interest rates will rise or fall in the future.

We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same Covering Securities and Treasury Obligations even if their market value declines and will generally hold, and continue to write, the same call options (LEAPS), even if the market value of the Covering Securities increases.

The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index. The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index.

The Standard & Poor’s 500 Index is an unmanaged index generally representative of the U.S. stock market.

Indices are statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. The historical performance of one or more indices is shown for illustrative purposes only; it is not meant to forecast, imply or guarantee the future performance of any particular investment or the trust, which will vary.

Value, blend and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles.

With regard to the Historical 12 Month Distributions, the per unit amount is based upon the weighted average of the actual distributions paid by the common stocks only.

as of 09/20/2019
Government Securities Weighting
(%)
U.S. Treasury Note , 1.375% , 10/31/20 0.38
U.S. Treasury Note , 1.500% , 10/31/19 0.58
U.S. Treasury Note , 2.000% , 01/31/20 0.58
U.S. Treasury Note , 2.375% , 04/30/20 0.58
U.S. Treasury Note , 2.625% , 07/31/20 0.58
Options Weighting
(%)
3m Company (MMM 01/15/21 C210) -0.07
AT&T, Inc. (T 01/15/21 C40) -0.23
Abbott Laboratories (ABT 01/15/21 C105) -0.06
Aflac, Inc. (AFL 01/15/21 C65) -0.04
Automatic Data Processing, Inc. (ADP 01/15/21 C200) -0.06
Clorox Company (CVX 01/15/21 C150) -0.08
Coca-Cola Company (KO 01/15/21 C65) -0.05
Emerson Electric Company (EMR 01/15/21 C80) -0.09
Exxon Mobil Corporation (XOM 01/15/21 C90) -0.04
General Dynamics Corporation (GD 01/15/21 C220) -0.13
Johnson & Johnson (JNJ 01/15/21 C155) -0.10
Kimberly-Clark Corporation (KMB 01/15/21 C165) -0.05
Linde Plc (LIN 01/15/21 C250) -0.06
Lowe's Companies, Inc. (LOW 01/15/21 C125) -0.27
McDonald's Corporation (MCD 01/15/21 C260) -0.04
Medtronic Plc (MDT 01/15/21 C125) -0.11
Pepsico, Inc. (PEP 01/15/21 C160) -0.08
Ppg Industries, Inc. (PPG 01/15/21 C140) -0.15
Procter & Gamble Company (PG 01/15/21 C140) -0.14
Stanley Black & Decker, Inc. (SWK 01/15/21 C180) -0.09
Target Corporation (TGT 01/15/21 C105) -0.53
United Technologies Corporation (UTX 01/15/21 C160) -0.17
V.f. Corporation (VFC 01/15/21 C105) -0.13
Walgreens Boots Alliance, Inc. (WBA 01/15/21 C65) -0.20
Walmart, Inc. (WMT 01/15/21 C135) -0.15
Stocks Symbol Sector Market Cap/
Style
Weighting
(%)
3m Co MMM Industrial Large-Cap Value 3.20
AT&T Inc. T Communication Services Large-Cap Value 4.36
Abbott Laboratories ABT Health Care Large-Cap Growth 3.20
Aflac Inc AFL Financials Large-Cap Value 3.98
Automatic Data Processing ADP Information Technology Large-Cap Growth 3.05
Chevron Corp CVX Energy Large-Cap Value 4.77
Coca-Cola Company KO Consumer Staples Large-Cap Blend 4.13
Emerson Electric Co EMR Industrial Large-Cap Value 3.73
Exxon Mobil Corp XOM Energy Large-Cap Blend 4.14
General Dynamics Corp GD Industrial Large-Cap Blend 3.59
Johnson & Johnson JNJ Health Care Large-Cap Value 5.05
Kimberly-Clark Corp KMB Consumer Staples Large-Cap Value 2.59
Linde Plc LIN Materials Large-Cap Growth 3.72
Lowes CO Inc LOW Consumer Discretionary Large-Cap Blend 4.25
McDonald's Corp MCD Consumer Discretionary Large-Cap Blend 4.01
Medtronic Plc MDT Health Care Large-Cap Blend 4.26
Pepsico Inc PEP Consumer Staples Large-Cap Blend 5.16
Ppg Industries, Incorporated PPG Materials Large-Cap Value 4.57
Procter & Gamble Co PG Consumer Staples Large-Cap Value 4.69
Stanley Black & Decker Inc. SWK Industrial Large-Cap Value 2.70
Target Corp TGT Consumer Discretionary Large-Cap Value 4.09
United Technologies Corp UTX Industrial Large-Cap Value 5.20
V P Corp VFC Consumer Discretionary Large-Cap Blend 3.28
Wal-Mart Stores Inc WMT Consumer Staples Large-Cap Value 4.48
Walgreens Boots Alliance Inc WBA Consumer Staples Large-Cap Value 4.22

1The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.

The trust portfolio is provided for informational purposes only and should not be deemed as a recommendation to buy or sell the individual securities shown above.


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors and the amount of any dividend may vary over time. There can be no guarantee or assurance that companies will declare dividends in the future or that if declared, they will remain at current levels or increase over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio’s pro¿ts and losses.

Writing LEAPS reduces the value of your Units. As the value of the LEAPS increases, it has a negative impact on the value of your Units. The value of a LEAPS does not increase or decrease at the same rate as the underlying Covering Security.

The Portfolio has limited potential for capital appreciation. As the writer of LEAPS, the Portfolio forgoes the opportunity to pro¿t from increases in the market value of the Covering Securities above the sum of the premium and the strike price of the corresponding LEAPS, but retains the risk of loss should the price of the Covering Securities decline.

The LEAPS may be exercised on any business day prior to their expiration. This may result in the Covering Securities being sold to the option holders of the LEAPS prior to the termination of the Portfolio which could trigger adverse tax consequences.

The Portfolio invests in Treasury Obligations. Treasury Obligations are direct obligations of the United States which are backed by the full faith and credit of the United States. This guarantee does not apply to the market value of the Treasury Obligations or Units of the Portfolio.

The value of the Treasury Obligations will generally fall if interest rates, in general, rise. In a low interest rate environment risks associated with rising rates are heightened. No one can predict whether interest rates will rise or fall in the future.

We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same Covering Securities and Treasury Obligations even if their market value declines and will generally hold, and continue to write, the same call options (LEAPS), even if the market value of the Covering Securities increases.

The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index. The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index.

The Standard & Poor’s 500 Index is an unmanaged index generally representative of the U.S. stock market.

Indices are statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. The historical performance of one or more indices is shown for illustrative purposes only; it is not meant to forecast, imply or guarantee the future performance of any particular investment or the trust, which will vary.

Value, blend and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles.

With regard to the Historical 12 Month Distributions, the per unit amount is based upon the weighted average of the actual distributions paid by the common stocks only.

Historical Pricing

From   to

Distributions

From   to

LIQUIDATION PRICE
Represents the value per unit that a unitholder would receive if the unitholder redeemed or sold units. This price is equal to the net asset value per unit plus any remaining organization costs and creation and development fee. This price reflects any remaining deferred sales charges payable in connection with a liquidation of units.

OFFER PRICE
Represents the net asset value per unit plus any applicable organization costs and sales charges. This is the regular public offering price per unit paid to purchase units. This price is often subject to certain sales charge discounts described in a trust prospectus.

NET ASSET VALUE (NAV)
Represents the value per unit of a trust's portfolio securities and other assets reduced by trust expenses and other liabilities, including remaining organization costs, deferred sales charges and creation and the development fee.


This page contains historical pricing or historical income distributions information for the unit trust listed above. It should not be used for federal or state tax purposes. Please contact your financial advisor for tax information.

This information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state, or other jurisdiction to any person to whom it is not lawful to make such an offer. A trust that contains a state name in the trust name is generally available for sale only to investors in that state. The information shown may relate to a trust that is no longer offered to the public. In such a case, this information does not constitute an offer to sell, or a solicitation of an offer to buy units of the trust.

1The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors and the amount of any dividend may vary over time. There can be no guarantee or assurance that companies will declare dividends in the future or that if declared, they will remain at current levels or increase over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio’s pro¿ts and losses.

Writing LEAPS reduces the value of your Units. As the value of the LEAPS increases, it has a negative impact on the value of your Units. The value of a LEAPS does not increase or decrease at the same rate as the underlying Covering Security.

The Portfolio has limited potential for capital appreciation. As the writer of LEAPS, the Portfolio forgoes the opportunity to pro¿t from increases in the market value of the Covering Securities above the sum of the premium and the strike price of the corresponding LEAPS, but retains the risk of loss should the price of the Covering Securities decline.

The LEAPS may be exercised on any business day prior to their expiration. This may result in the Covering Securities being sold to the option holders of the LEAPS prior to the termination of the Portfolio which could trigger adverse tax consequences.

The Portfolio invests in Treasury Obligations. Treasury Obligations are direct obligations of the United States which are backed by the full faith and credit of the United States. This guarantee does not apply to the market value of the Treasury Obligations or Units of the Portfolio.

The value of the Treasury Obligations will generally fall if interest rates, in general, rise. In a low interest rate environment risks associated with rising rates are heightened. No one can predict whether interest rates will rise or fall in the future.

We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same Covering Securities and Treasury Obligations even if their market value declines and will generally hold, and continue to write, the same call options (LEAPS), even if the market value of the Covering Securities increases.

The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index. The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index.

The Standard & Poor’s 500 Index is an unmanaged index generally representative of the U.S. stock market.

Indices are statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. The historical performance of one or more indices is shown for illustrative purposes only; it is not meant to forecast, imply or guarantee the future performance of any particular investment or the trust, which will vary.

Value, blend and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles.

With regard to the Historical 12 Month Distributions, the per unit amount is based upon the weighted average of the actual distributions paid by the common stocks only.

as of 09/20/2019

Cumulative Return (%)

Maximum Sales Charge: 1.85%
YTD (%) Since Deposit (%) 3 Mo (%) 6 Mo (%)
With Sales Charge -0.41
Without Sales Charge 0.96
CBOE S&P 500 BuyWrite Index -1.07
as of 09/20/2019

Average Annual Return (%)

1 Yr (%) 5 Yr (%) 10 Yr (%) Since Deposit (%)
With Sales Charge
Without Sales Charge
CBOE S&P 500 BuyWrite Index

The performance data quoted for the individual series of a trust that has not terminated or has an open termination date is from the deposit date through the current date quoted. For individual series that have terminated, performance data quoted is from the deposit date through the termination date.

Performance data quoted represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate and units, when redeemed, may be worth more or less than their original cost.

Returns are cumulative total returns (not annualized) unless labeled as average annual total returns. All returns reflect trust expenses as incurred and assume reinvestment of income and principal distributions, except for trusts that do not offer the option of reinvesting distributions into additional trust units. Please see the related trust prospectus for additional information. Returns do not reflect taxes.

A trust's performance, especially for short time periods, should not be the sole factor in making your investment decision. Please keep in mind that high, double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions.

Returns With Sales Charge reflect the maximum sales charge that would be payable by an investor upon sale or redemption of units at the end of the applicable period(s). The sales charge includes any initial or deferred sales charges other than creation and development fee. These returns do not reflect any creation and development fee prior to collection (generally the close of the initial offering period). Any creation and development fee is reflected in the returns as of the time of payment. by a trust. These returns reflect any contingent deferred sales charges only if the charges would be payable upon a unit sale or redemption at or prior to the end of the applicable performance period(s). Certain trusts are no longer offered for sale to the public and, as a result, do not publish an offer price or have a sales charge. In these cases, returns will not reflect a sales charge if a trust was not actually offered for sale to the public on the first day of the applicable period because units of the trust could not have been purchased by an investor at that time. These returns will show 'N/A' for With Sales Charge data

Returns Without Sales Charge do not reflect any sales charge and do not reflect any creation and development fee prior to collection (generally the close of the initial offering period). Any creation and development fee is reflected in the returns as of the time of payment by a trust.

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. Accordingly, you can lose money investing in this trust. Certain trusts are unmanaged and their portfolios are not intended to change during the trusts' lives except in limited circumstances. Certain trusts are passively managed and seek to track their target index during the trust's life. For a more complete discussion of the risks of investing in this trust, click on the Fact Card.

Performance Calculator

From   to
  Total Return (%)
With Sales Charge -0.41
Without Sales Charge 0.96
CBOE S&P 500 BuyWrite Index -1.07

1The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors and the amount of any dividend may vary over time. There can be no guarantee or assurance that companies will declare dividends in the future or that if declared, they will remain at current levels or increase over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio’s pro¿ts and losses.

Writing LEAPS reduces the value of your Units. As the value of the LEAPS increases, it has a negative impact on the value of your Units. The value of a LEAPS does not increase or decrease at the same rate as the underlying Covering Security.

The Portfolio has limited potential for capital appreciation. As the writer of LEAPS, the Portfolio forgoes the opportunity to pro¿t from increases in the market value of the Covering Securities above the sum of the premium and the strike price of the corresponding LEAPS, but retains the risk of loss should the price of the Covering Securities decline.

The LEAPS may be exercised on any business day prior to their expiration. This may result in the Covering Securities being sold to the option holders of the LEAPS prior to the termination of the Portfolio which could trigger adverse tax consequences.

The Portfolio invests in Treasury Obligations. Treasury Obligations are direct obligations of the United States which are backed by the full faith and credit of the United States. This guarantee does not apply to the market value of the Treasury Obligations or Units of the Portfolio.

The value of the Treasury Obligations will generally fall if interest rates, in general, rise. In a low interest rate environment risks associated with rising rates are heightened. No one can predict whether interest rates will rise or fall in the future.

We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same Covering Securities and Treasury Obligations even if their market value declines and will generally hold, and continue to write, the same call options (LEAPS), even if the market value of the Covering Securities increases.

The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index. The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index.

The Standard & Poor’s 500 Index is an unmanaged index generally representative of the U.S. stock market.

Indices are statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. The historical performance of one or more indices is shown for illustrative purposes only; it is not meant to forecast, imply or guarantee the future performance of any particular investment or the trust, which will vary.

Value, blend and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles.

With regard to the Historical 12 Month Distributions, the per unit amount is based upon the weighted average of the actual distributions paid by the common stocks only.

1The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuer’s board of directors and the amount of any dividend may vary over time. There can be no guarantee or assurance that companies will declare dividends in the future or that if declared, they will remain at current levels or increase over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolio’s pro¿ts and losses.

Writing LEAPS reduces the value of your Units. As the value of the LEAPS increases, it has a negative impact on the value of your Units. The value of a LEAPS does not increase or decrease at the same rate as the underlying Covering Security.

The Portfolio has limited potential for capital appreciation. As the writer of LEAPS, the Portfolio forgoes the opportunity to pro¿t from increases in the market value of the Covering Securities above the sum of the premium and the strike price of the corresponding LEAPS, but retains the risk of loss should the price of the Covering Securities decline.

The LEAPS may be exercised on any business day prior to their expiration. This may result in the Covering Securities being sold to the option holders of the LEAPS prior to the termination of the Portfolio which could trigger adverse tax consequences.

The Portfolio invests in Treasury Obligations. Treasury Obligations are direct obligations of the United States which are backed by the full faith and credit of the United States. This guarantee does not apply to the market value of the Treasury Obligations or Units of the Portfolio.

The value of the Treasury Obligations will generally fall if interest rates, in general, rise. In a low interest rate environment risks associated with rising rates are heightened. No one can predict whether interest rates will rise or fall in the future.

We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same Covering Securities and Treasury Obligations even if their market value declines and will generally hold, and continue to write, the same call options (LEAPS), even if the market value of the Covering Securities increases.

The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index. The S&P 500 Dividend Aristocrats Index measures the performance of S&P 500 constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. It is not possible to invest directly into an index.

The Standard & Poor’s 500 Index is an unmanaged index generally representative of the U.S. stock market.

Indices are statistical composites and their returns do not include payment of any sales charges or fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index. The historical performance of one or more indices is shown for illustrative purposes only; it is not meant to forecast, imply or guarantee the future performance of any particular investment or the trust, which will vary.

Value, blend and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or blend investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A blend investment combines the two styles.

With regard to the Historical 12 Month Distributions, the per unit amount is based upon the weighted average of the actual distributions paid by the common stocks only.

as of 09/20/2019

DSBW0193

  • Offer Price $10.09630
  • Fee Based Price $9.95950
  • Liquidation Price $9.95950

Trust Specifics

  • Jul 24, 2019 Deposit Date
  • Jul 24, 2019 -
    Oct 22, 2019
    Scheduled
    Primary Offering
    Period
  • IAAGMX NASDAQ Symbol
  • 18 months Term of Trust
  • Jan 21, 2021 Termination Date
  • Tax Status:
    Regulated Investment Company
  • 1.85% Brokerage Sales Charge
  • $0.13500 Deferred Sales Charge
    (Per Unit)
  • 0.50% Creation & Development
    Fee
  • 0.50% Fee Based Sales Charge
  • $0.215390 Historical 12 Month
    Dist.1
  • 2.13% Brokerage Historical
    12 Month Dist. Rate
  • 2.16% Fee Based Historical
    12 Month Dist. Rate 
  • Nov 25, 2019 Initial Payable Date2
  • Nov 10, 2019 Initial Record Date2
  • CUSIPs:
    46144F585Cash
    46144F601Fee Based Cash
Investors in fee-based accounts will not be assessed the initial or deferred sales charges for eligible fee-based purchases and must purchase units with a Fee Based CUSIP.