Unit Trusts

High Income Allocation Portfolio (HIAP0003)

Objective

The portfolio seeks to provide current income and the potential for capital appreciation. The portfolio seeks to achieve its objective by investing in an income-oriented portfolio consisting of common stocks, closed-end funds that elect to be treated as BDCs and preferred securities.

as of 02/28/2014

Style map

as of 04/23/2014

Country Breakdown

as of 04/23/2014

Sector Breakdown

  Trust Weighting (%) S&P 500 Index
Weighting (%)
Consumer Discretionary 3.81 11.93
Consumer Staples 10.56 9.75
Energy 12.25 10.63
Financials 17.10 16.25
Health Care 12.24 13.21
Industrial 2.34 10.80
Information Technology 2.45 18.32
Materials 0.00 3.53
Telecommunication Services 9.43 2.45
Utilities 10.83 3.13
as of 04/23/2014

Market Cap / Style Breakdown

  Trust Weighting (%) S&P 500 Index
Weighting (%)
Large-Cap Value 27.19 28.64
Large-Cap Blend 25.78 29.61
Large-Cap Growth 0.00 30.33
Mid-Cap Value 3.73 4.75
Mid-Cap Blend 6.19 3.87
Mid-Cap Growth 0.00 2.79
Small-Cap Value 6.17 0.02
Small-Cap Blend 2.00 0.00
Small-Cap Growth 0.00 0.00
Other 9.94 0.00
as of 04/23/2014

Keystats

Weighted Avg Beta 0.66

1The Portfolio will make distributions of income and capital on each specified Distribution Date to Unit holders 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 Estimated Annual Income per Unit is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter thereafter. This amount is based on the most recently declared dividends or interim and final dividends accounting for any foreign withholding taxes, but may also be based upon several recently declared dividends. The actual net annual distributions you receive will vary from the estimate set forth above with changes in the trust's fees and expenses, in dividends and distributions received, currency fluctuations and with the sale of trust securities. The actual net annual distributions are expected to decrease over time because a portion of the securities included in the trust will be sold over time to pay for organization costs. Securities may also be sold to pay regular fees and expenses during the trust's life.

  The portfolio 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.

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

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 a trust will achieve its investment objective. An investment in these unit investment trusts are 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 these trusts.

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.

Certain securities in the Portfolio, as well as certain of the securities held by the underlying funds in the Portfolio, may be rated below investment grade and considered to be "junk" securities. These securities are considered to be speculative and are subject to greater market and credit risks. Accordingly, the risk of default is higher than with investment grade securities. In addition, these securities may be more sensitive to interest rate changes and may be more likely to make early returns of principal.

The financial condition of a security 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.

The Portfolio invests in preferred securities. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and therefore are subject to greater risk than those debt instruments. Preferred securities are subject to interest rate risk, meaning that their values may fall if interest rates, in general, rise. In addition to the other risks described herein, income payments on certain preferred securities may be deferred for 20 consecutive quarters or more, which may reduce the amount of income you receive on your Units.

The Portfolio invests in MLPs. Most MLPs operate in the energy, natural resources or real estate sectors and are subject to the risks generally applicable to companies in those sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject the risk that U.S. taxing authorities could challenge the tax treatment of MLPs for federal income tax purposes which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the Portfolio's investments.

The Portfolio invests in shares of closed-end funds. In particular, shares of closed-end funds tend to trade at a discount from their net asset value and are subject to risks related to factors such as management's ability to achieve a fund's objective, market conditions affecting a fund's investments and use of leverage. The Portfolio and the underlying funds have management and operating expenses. You will bear not only your share of the Portfolio's expenses, but also the expenses of the underlying funds. By investing in other funds, the Portfolio incurs greater expenses than you would incur if you invested directly in the funds.

The Portfolio invests in shares of publicly traded business development companies (“BDCs”). BDCs invest in privately-held companies, the securities of which are generally less liquid than are publicly traded securities. BDCs may have relatively concentrated investment portfolios, consisting of a relatively small number of holdings. A BDC’s gains and losses may be magnified through the use of leverage. BDCs generally depend on access to capital markets in order to raise cash, acquire suitable investments and monitor and implement certain financial strategies. An inability to access these markets may have a negative impact on the value of BDC shares and the value of your units. Many debt investments in which BDCs invest will not be rated by a credit rating agency and will be below investment grade quality.

The Portfolio invests in shares of REITs and other real estate companies. These shares may appreciate or depreciate in value, or pay dividends depending upon global and local economic conditions, changes in interest rates and the strength or weakness of the real estate market.

as of 04/23/2014

Cumulative Return (%)

Maximum Sales Charge: 3.45%
Year to Date (%) Since Deposit (%) 3 month (%) 6 month (%)
With Sales Charge 2.50 -3.02 1.77 2.26
Without Sales Charge 6.16 0.44 5.41 5.91
S&P 500 Index 2.08 15.24 2.19 7.99
as of 04/23/2014

Average Annual Return (%)

1 yr (%) 5 yr (%) 10 yr (%) Since Deposit (%)
With Sales Charge N/A N/A N/A N/A
Without Sales Charge N/A N/A N/A N/A
S&P 500 Index N/A N/A N/A N/A

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 Transactional Sales Charge" reflect the maximum transactional sales charge that would be payable by an investor upon sale or redemption of units at the end of the applicable period(s). The transactional sales charge includes any initial or deferred sales charges other than creation and development fee, if applicable. 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, if applicable, is reflected in the returns as of the time of payment by a trust. These returns reflect any 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 Transactional Sales Charge" data.

"Returns Without Transactional Sales Charge" do not reflect any transactional sales charge and do not reflect any applicable creation and development fee prior to collection (generally the close of the initial offering period). Any creation and development fee, if applicable, 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. The trusts are unmanaged and their portfolios are not intended to change during the trusts' lives except in limited circumstances. 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 -3.02%
Without Sales Charge 0.44%
S&P 500 Index 15.24%

Historical Pricing

From   to

Distributions

From   to

BID PRICE
Represents the net asset value per unit plus any remaining organization costs, deferred sales charge and creation and development fee. This price is not the purchase price of units and in many cases is not the price a unitholder would receive if the unitholder redeemed or sold units. Any remaining deferred sales charge payments are payable at the time a unit holder redeems or sells units.

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 Portfolio will make distributions of income and capital on each specified Distribution Date to Unit holders 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 Estimated Annual Income per Unit is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter thereafter. This amount is based on the most recently declared dividends or interim and final dividends accounting for any foreign withholding taxes, but may also be based upon several recently declared dividends. The actual net annual distributions you receive will vary from the estimate set forth above with changes in the trust's fees and expenses, in dividends and distributions received, currency fluctuations and with the sale of trust securities. The actual net annual distributions are expected to decrease over time because a portion of the securities included in the trust will be sold over time to pay for organization costs. Securities may also be sold to pay regular fees and expenses during the trust's life.

  The portfolio 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.

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



About risk

There is no assurance a trust will achieve its investment objective. An investment in these unit investment trusts are 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 these trusts.

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.

Certain securities in the Portfolio, as well as certain of the securities held by the underlying funds in the Portfolio, may be rated below investment grade and considered to be "junk" securities. These securities are considered to be speculative and are subject to greater market and credit risks. Accordingly, the risk of default is higher than with investment grade securities. In addition, these securities may be more sensitive to interest rate changes and may be more likely to make early returns of principal.

The financial condition of a security 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.

The Portfolio invests in preferred securities. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and therefore are subject to greater risk than those debt instruments. Preferred securities are subject to interest rate risk, meaning that their values may fall if interest rates, in general, rise. In addition to the other risks described herein, income payments on certain preferred securities may be deferred for 20 consecutive quarters or more, which may reduce the amount of income you receive on your Units.

The Portfolio invests in MLPs. Most MLPs operate in the energy, natural resources or real estate sectors and are subject to the risks generally applicable to companies in those sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject the risk that U.S. taxing authorities could challenge the tax treatment of MLPs for federal income tax purposes which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the Portfolio's investments.

The Portfolio invests in shares of closed-end funds. In particular, shares of closed-end funds tend to trade at a discount from their net asset value and are subject to risks related to factors such as management's ability to achieve a fund's objective, market conditions affecting a fund's investments and use of leverage. The Portfolio and the underlying funds have management and operating expenses. You will bear not only your share of the Portfolio's expenses, but also the expenses of the underlying funds. By investing in other funds, the Portfolio incurs greater expenses than you would incur if you invested directly in the funds.

The Portfolio invests in shares of publicly traded business development companies (“BDCs”). BDCs invest in privately-held companies, the securities of which are generally less liquid than are publicly traded securities. BDCs may have relatively concentrated investment portfolios, consisting of a relatively small number of holdings. A BDC’s gains and losses may be magnified through the use of leverage. BDCs generally depend on access to capital markets in order to raise cash, acquire suitable investments and monitor and implement certain financial strategies. An inability to access these markets may have a negative impact on the value of BDC shares and the value of your units. Many debt investments in which BDCs invest will not be rated by a credit rating agency and will be below investment grade quality.

The Portfolio invests in shares of REITs and other real estate companies. These shares may appreciate or depreciate in value, or pay dividends depending upon global and local economic conditions, changes in interest rates and the strength or weakness of the real estate market.

as of 04/23/2014
Closed-end Funds Symbol Weighting
(%)
Ares Capital Corp ARCC 1.97
Fifth Street Finance Corporation FSC 1.79
Hercules Technology Growth Capital Inc HTGC 2.18
Pennantpark Investment Corporation PNNT 1.98
Solar Capital, Ltd. SLRC 1.88
Stocks Symbol Sector Market Cap/
Style
Weighting
(%)
AT&T Inc. T Telecommunication Services Large-Cap Value 3.87
Ag Mortgage Investment Trust, Inc. MITT Financials Small-Cap Value 1.46
Altria Group Inc MO Consumer Staples Large-Cap Blend 2.13
American Capital Agency Corporation AGNC Financials Mid-Cap Value 1.58
American Capital Mortgage Investment Cor MTGE Financials Small-Cap Value 1.70
American Electric Power Incorporated AEP Utilities Large-Cap Value 2.20
Apollo Residential Mtge AMTG Financials Small-Cap Value 1.51
Baxter International Inc BAX Health Care Large-Cap Blend 2.10
Cardinal Health Inc CAH Health Care Large-Cap Blend 3.06
Centurylink Inc CTL Telecommunication Services Large-Cap Value 1.87
Clorox Co CLX Consumer Staples Mid-Cap Blend 2.10
Consolidated Edison Inc ED Utilities Large-Cap Value 1.93
Cys Investments, Inc. CYS Financials Small-Cap Value 1.50
El Paso Pipeline Partners, Lp. EPB Energy Other Other 1.59
Enterprise Products Partners EPD Energy Other Other 2.49
Exxon Mobil Corp XOM Energy Large-Cap Value 2.30
General Mills Inc GIS Consumer Staples Large-Cap Blend 2.14
Health Care Properties Investment Inc. HCP Financials Large-Cap Blend 1.59
Health Care REIT Inc HCN Financials Large-Cap Blend 1.67
Highwoods Pptys Inc HIW Financials Small-Cap Blend 2.01
Johnson & Johnson JNJ Health Care Large-Cap Blend 2.36
Kinder Morgan Energy KMP Energy Other Other 1.82
McDonald's Corp MCD Consumer Discretionary Large-Cap Blend 1.99
Merck & CO Inc MRK Health Care Large-Cap Value 2.55
Microsoft Corp MSFT Information Technology Large-Cap Blend 2.45
Mid Amer Apt Cmntys Inc MAA Financials Mid-Cap Blend 4.09
Pepsico Inc PEP Consumer Staples Large-Cap Blend 2.13
Pfizer Inc PFE Health Care Large-Cap Value 2.17
Plains All American Pipeline, L.p. PAA Energy Other Other 1.98
Ppl Corp PPL Utilities Large-Cap Value 2.14
Sempra Energy SRE Utilities Large-Cap Value 2.42
Target Corp TGT Consumer Discretionary Large-Cap Blend 1.81
United Parcel Service - Cl B UPS Industrial Large-Cap Blend 2.34
Verizon Communications VZ Telecommunication Services Large-Cap Value 3.68
Wal-Mart Stores Inc WMT Consumer Staples Large-Cap Value 2.06
Williams Partners, L.p. WPZ Energy Other Other 2.07
Xcel Energy Inc XEL Utilities Mid-Cap Value 2.15
Preferred Securities Symbol Weighting
(%)
Bank of New York Mellon Corporation BK C 1.82
Duke Energy Corporation DUKH 1.88
Jpmorgan Chase & Company - Series P JPM A 1.80
Nextera Energy Capital Holdings, Inc. NEE I 1.77
Prudential Financial Inc PRH 1.93

1The Portfolio will make distributions of income and capital on each specified Distribution Date to Unit holders 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 Estimated Annual Income per Unit is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter thereafter. This amount is based on the most recently declared dividends or interim and final dividends accounting for any foreign withholding taxes, but may also be based upon several recently declared dividends. The actual net annual distributions you receive will vary from the estimate set forth above with changes in the trust's fees and expenses, in dividends and distributions received, currency fluctuations and with the sale of trust securities. The actual net annual distributions are expected to decrease over time because a portion of the securities included in the trust will be sold over time to pay for organization costs. Securities may also be sold to pay regular fees and expenses during the trust's life.

  The portfolio 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.

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

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 a trust will achieve its investment objective. An investment in these unit investment trusts are 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 these trusts.

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.

Certain securities in the Portfolio, as well as certain of the securities held by the underlying funds in the Portfolio, may be rated below investment grade and considered to be "junk" securities. These securities are considered to be speculative and are subject to greater market and credit risks. Accordingly, the risk of default is higher than with investment grade securities. In addition, these securities may be more sensitive to interest rate changes and may be more likely to make early returns of principal.

The financial condition of a security 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.

The Portfolio invests in preferred securities. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and therefore are subject to greater risk than those debt instruments. Preferred securities are subject to interest rate risk, meaning that their values may fall if interest rates, in general, rise. In addition to the other risks described herein, income payments on certain preferred securities may be deferred for 20 consecutive quarters or more, which may reduce the amount of income you receive on your Units.

The Portfolio invests in MLPs. Most MLPs operate in the energy, natural resources or real estate sectors and are subject to the risks generally applicable to companies in those sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject the risk that U.S. taxing authorities could challenge the tax treatment of MLPs for federal income tax purposes which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the Portfolio's investments.

The Portfolio invests in shares of closed-end funds. In particular, shares of closed-end funds tend to trade at a discount from their net asset value and are subject to risks related to factors such as management's ability to achieve a fund's objective, market conditions affecting a fund's investments and use of leverage. The Portfolio and the underlying funds have management and operating expenses. You will bear not only your share of the Portfolio's expenses, but also the expenses of the underlying funds. By investing in other funds, the Portfolio incurs greater expenses than you would incur if you invested directly in the funds.

The Portfolio invests in shares of publicly traded business development companies (“BDCs”). BDCs invest in privately-held companies, the securities of which are generally less liquid than are publicly traded securities. BDCs may have relatively concentrated investment portfolios, consisting of a relatively small number of holdings. A BDC’s gains and losses may be magnified through the use of leverage. BDCs generally depend on access to capital markets in order to raise cash, acquire suitable investments and monitor and implement certain financial strategies. An inability to access these markets may have a negative impact on the value of BDC shares and the value of your units. Many debt investments in which BDCs invest will not be rated by a credit rating agency and will be below investment grade quality.

The Portfolio invests in shares of REITs and other real estate companies. These shares may appreciate or depreciate in value, or pay dividends depending upon global and local economic conditions, changes in interest rates and the strength or weakness of the real estate market.

as of 04/23/2014

HIAP0003

  • Offer Price $9.55390
  • WRAP Price $9.29020
  • Bid Price $9.22430
  • Liquidation Price $9.22430

Trust Specifics

  • May 15, 2013 Deposit Date
  • May 15, 2013 -
    Aug 13, 2013
    Scheduled
    Primary Offering
    Period
  • IHIGHX Nasdaq Symbol
  • 24 months Term of Trust
  • May 13, 2015 Termination Date
  • Tax Status:
    Regulated Investment Company
  • Public Offering Price
    (End of deposit date) $10.00000
  • Maximum Sales Charge 3.45%
  • Sales Charge Schedule
  • Sales Charge Volume Discount
  • Est. Net Annual
    Income1 $0.451680
  • Initial Payable Date2 Jun 25, 2013
  • Initial Record Date2 Jun 10, 2013
  • Re-Investment Options:
    Reinvest, Cash, Wrap Reinvest, Wrap Cash
  • Estimated Frequency of Offering:
    3 months
CUSIPs Regular CUSIP Wrap Fee
Cash CUSIP 46133N706 46133N722
Re-invest CUSIP 46133N714 46133N730
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 Wrap Fee CUSIP.