Unit Trusts

Select S&P Industrial Portfolio (SPIN0133)

The information shown relates to a trust that is no longer offered for sale. This information does not constitute an offer to sell, or a solicitation of an offer to buy units of the trust.

Strategy

Investment Objective
The portfolio seeks above-average total return. The portfolio seeks to achieve its objective by investing in a portfolio of stocks. The portfolio follows a simple investment strategy designed by Standard & Poor's, a division of the McGraw-Hill Companies, Inc.

The Select S&P Industrial Portfolio is an enhanced index unit investment trust, utilizing quantitative screens combined with Standard & Poor's (S&P) fundamental research to provide a portfolio of 15 high dividend-yielding stocks. The strategy does not assure future dividend payments.

Stock Selection Process

  1. Start with the S&P Industrials Index, a subgroup of the S&P 500 Index.
  2. Choose securities ranked either A or A+ by S&P Capital IQ's Earnings and Dividend Rankings for Common Stock*. S&P Capital IQ determines its stock rankings primarily on the growth and stability of per-share earnings and dividends. It assigns a symbol to each stock, which ranges from A+ for the highest ranked stocks to D for those stocks S&P Capital IQ considers to be the most speculative. These rankings are not intended to predict future stock price movements. Eliminate any stocks also included in the Dow Jones Industrial Average.
  3. Rank the remaining stocks by market capitalization and select the top 75 percent.
  4. From these stocks select the 15 stocks with the highest dividend yield.


In addition, a stock will be excluded if, based on publicly available information as of the selection date, the company is the target of an announced business acquisition which Invesco expects will close within six months of the date of deposit.

*Standard & Poor's earnings and dividend rankings for common stocks, often referred to as quality rankings, reflect the long-term growth and stability of a company's earnings and dividends. S&P Capital IQ determines its stock rankings primarily on the growth and stability of per-share earnings and dividends. It assigns a symbol to each stock, which ranges from A+ for the highest ranked stocks to D for those stocks S&P Capital IQ considers to be the most speculative. These rankings are not intended to predict future stock price movements. Eliminate any stocks also included in the Dow Jones Industrial Average.
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 6.08 11.93
Consumer Staples 35.81 9.75
Energy 0.00 10.63
Financials 0.00 16.25
Health Care 5.67 13.21
Industrial 39.22 10.80
Information Technology 6.15 18.32
Materials 7.07 3.53
Telecommunication Services 0.00 2.45
Utilities 0.00 3.13
as of 04/23/2014

Market Cap / Style Breakdown

  Trust Weighting (%) S&P 500 Index
Weighting (%)
Large-Cap Value 16.00 28.64
Large-Cap Blend 71.77 29.61
Large-Cap Growth 6.15 30.33
Mid-Cap Value 0.00 4.75
Mid-Cap Blend 6.08 3.87
Mid-Cap Growth 0.00 2.79
Small-Cap Value 0.00 0.02
Small-Cap Blend 0.00 0.00
Small-Cap Growth 0.00 0.00
Other 0.00 0.00
as of 07/01/2013

Expenses

(amount per unit)
Estimated Organization Costs:3 $0.0313
Total Estimated Annual Expenses:3 $0.0280
as of 04/23/2014

Keystats

Weighted Avg P/E 18.52
Weighted Avg P/B 4.24
Weighted Avg Market Cap (MM) $36,694.80
Weighted Avg 1 Yr EPS -51.41%
Weighted Avg 3 Yr EPS 20.10%
Weighted Avg PEG Ratio 2.12
Weighted Avg Beta 0.89
From 12/31/1983 - 12/31/2013
( Source Bloomberg, L.P. )

Hypothetical Performance of
$10,000 Investment

Annual Total Return

Standard Deviation Strategy S&P 500 Index
12/31/1983 - 12/31/2013 15.90% 17.43%
Annual Total Return Strategy S&P 500 Index
12/31/1984 8.79% 5.97%
12/31/1985 29.13% 31.05%
12/31/1986 28.57% 18.54%
12/31/1987 4.04% 5.67%
12/31/1988 40.98% 16.34%
12/31/1989 34.49% 31.21%
12/31/1990 0.48% -3.13%
12/31/1991 26.67% 30.00%
12/31/1992 12.48% 7.43%
12/31/1993 1.92% 9.92%
12/31/1994 10.27% 1.28%
12/31/1995 38.28% 37.11%
12/31/1996 12.72% 22.68%
12/31/1997 32.96% 33.10%
12/31/1998 14.58% 28.58%
12/31/1999 -13.43% 20.89%
12/31/2000 12.33% -9.10%
12/31/2001 4.04% -11.88%
12/31/2002 -13.34% -22.10%
12/31/2003 15.47% 28.68%
12/31/2004 7.80% 10.88%
12/31/2005 -4.71% 4.91%
12/31/2006 9.92% 15.79%
12/31/2007 6.51% 5.49%
12/31/2008 -24.01% -37.00%
12/31/2009 26.76% 26.46%
12/31/2010 12.80% 15.06%
12/31/2011 7.32% 2.11%
12/31/2012 10.94% 16.00%
12/31/2013 35.41% 32.38%
03/31/2014 0.50% 1.81%

Average Annual Total Return

Average Annual Return
(for the period ended 12/31/2013)
Strategy S&P 500 Index
1-Year 34.06% 32.38%
3-Year 16.87% 16.18%
5-Year 17.94% 17.94%
10-Year 7.63% 7.40%
15-Year 5.11% 4.68%
20-Year 8.93% 9.22%
25-Year 10.01% 10.22%
30-Year 11.88% 11.03%

The above graph represents a hypothetical $10,000 investment in the trust strategy (not any actual trust) and the associated benchmark over the period indicated in the graph. The graph assumes the sum of the initial investment ($10,000) and all dividends (including those on stocks trading ex-dividend as of the last day of the year) and appreciation during a year are reinvested at the end of that year.

All strategy performance is hypothetical (not any actual trust) and reflects trust sales charges (full sales charge in first year of 2.95% and reduced rollover charge thereafter of 1.95%) and expenses but not brokerage commissions on stocks or taxes. Past performance is no guarantee of future results. Actual returns will vary from hypothetical strategy returns due to timing differences and because the trust may not be invested equally in all stocks or be fully invested at all times. In any given year the strategy may lose money or underperform the index. Returns are calculated by taking year-end prices, subtracting them from the prices at the end of the following year (adjusting for any stock splits that might have occurred during the year) and adding dividends received for the period divided by starting price. Average annual total return and total return measure change in the value of an investment plus dividends, assuming quarterly reinvestment of dividends. Average annual total return reflects annualized change while total return reflects aggregate change and is not annualized. Standard deviation is a measure of volatility that represents the degree to which an investment's performance has varied from its average performance over a particular period. Standard deviation does not compare the volatility of an investment relative to other investments or the overall stock market. The more an investment's return varies from the investment's average return, the more volatile the investment. Standard deviation is based on past performance and is no guarantee of future results.

Please keep in mind that high, double-digit and/or triple-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions.

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 the indices are 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.

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.

3The estimated annual expenses are based upon the estimated trust size for the Portfolio determined as of the initial date of deposit. Because certain of the operating expenses are fixed amounts, if the trust does not reach that estimated size, the amount of the estimated annual expenses per unit may exceed the amounts reflected. On the business day following the end of the initial offering period, the Sponsor and/or the Supervisor will waive their respective fees, and/or the Sponsor will reimburse the Portfolio operating expenses, in an amount so that the total estimated annual expenses calculated on that date do not exceed $0.0350 per unit.
However, subsequent to that date the value of the Portfolio as well as the number of outstanding units may decline, and/or the actual amount of the operating expenses may exceed the estimated amounts, any of which could result in the actual amount of the total annual expenses exceeding $0.0350 per unit.

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.

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


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit 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.

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.

This trust is concentrated in the consumer staples sector. Companies that manufacture and distribute consumer products face risks such as intense competition, the lack of serious barriers to entry for on-line entrants, economic recession and a slowdown in consumer spending trends.

This trust is also concentrated in the industrials sector. General risks of industrials companies include the general state of the economy, intense competition, consolidation, domestic and international politics, excess capacity and consumer spending trends.

The trust should be considered as a 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.

as of 04/23/2014

Cumulative Return (%)

Maximum Sales Charge: N/A
Year to Date (%) Since Deposit (%) 3 month (%) 6 month (%)
With Sales Charge N/A N/A N/A N/A
Without Sales Charge 5.69 22.65 4.56 13.31
S&P 500 Index 2.08 18.07 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 N/A%
Without Sales Charge 22.65%
S&P 500 Index 18.07%

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.

3The estimated annual expenses are based upon the estimated trust size for the Portfolio determined as of the initial date of deposit. Because certain of the operating expenses are fixed amounts, if the trust does not reach that estimated size, the amount of the estimated annual expenses per unit may exceed the amounts reflected. On the business day following the end of the initial offering period, the Sponsor and/or the Supervisor will waive their respective fees, and/or the Sponsor will reimburse the Portfolio operating expenses, in an amount so that the total estimated annual expenses calculated on that date do not exceed $0.0350 per unit.
However, subsequent to that date the value of the Portfolio as well as the number of outstanding units may decline, and/or the actual amount of the operating expenses may exceed the estimated amounts, any of which could result in the actual amount of the total annual expenses exceeding $0.0350 per unit.



About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit 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.

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.

This trust is concentrated in the consumer staples sector. Companies that manufacture and distribute consumer products face risks such as intense competition, the lack of serious barriers to entry for on-line entrants, economic recession and a slowdown in consumer spending trends.

This trust is also concentrated in the industrials sector. General risks of industrials companies include the general state of the economy, intense competition, consolidation, domestic and international politics, excess capacity and consumer spending trends.

The trust should be considered as a 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.

as of 04/23/2014
Stocks Symbol Sector Market Cap/
Style
Weighting
(%)
Air Products & Chemicals Inc APD Materials Large-Cap Blend 7.07
Baxter International Inc BAX Health Care Large-Cap Blend 5.67
Emerson Electric Co EMR Industrial Large-Cap Blend 6.90
General Dynamics Corp GD Industrial Large-Cap Value 7.77
General Mills Inc GIS Consumer Staples Large-Cap Blend 5.88
Genuine Parts Company GPC Consumer Discretionary Mid-Cap Blend 6.08
Kellogg Co K Consumer Staples Large-Cap Blend 5.63
Kimberly-Clark Corp KMB Consumer Staples Large-Cap Blend 6.13
Lockheed Martin Corp LMT Industrial Large-Cap Value 8.23
Lorillard, Inc. LO Consumer Staples Large-Cap Blend 6.71
Northrop Grumman Corp NOC Industrial Large-Cap Blend 8.00
Paychex Inc PAYX Information Technology Large-Cap Growth 6.15
Pepsico Inc PEP Consumer Staples Large-Cap Blend 5.67
Raytheon Co RTN Industrial Large-Cap Blend 8.31
Sysco Corp SYY Consumer Staples Large-Cap Blend 5.80

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.

3The estimated annual expenses are based upon the estimated trust size for the Portfolio determined as of the initial date of deposit. Because certain of the operating expenses are fixed amounts, if the trust does not reach that estimated size, the amount of the estimated annual expenses per unit may exceed the amounts reflected. On the business day following the end of the initial offering period, the Sponsor and/or the Supervisor will waive their respective fees, and/or the Sponsor will reimburse the Portfolio operating expenses, in an amount so that the total estimated annual expenses calculated on that date do not exceed $0.0350 per unit.
However, subsequent to that date the value of the Portfolio as well as the number of outstanding units may decline, and/or the actual amount of the operating expenses may exceed the estimated amounts, any of which could result in the actual amount of the total annual expenses exceeding $0.0350 per unit.

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.

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


About risk

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit 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.

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.

This trust is concentrated in the consumer staples sector. Companies that manufacture and distribute consumer products face risks such as intense competition, the lack of serious barriers to entry for on-line entrants, economic recession and a slowdown in consumer spending trends.

This trust is also concentrated in the industrials sector. General risks of industrials companies include the general state of the economy, intense competition, consolidation, domestic and international politics, excess capacity and consumer spending trends.

The trust should be considered as a 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.

as of 04/23/2014

SPIN0133

  • Offer Price -
  • WRAP Price -
  • Bid Price $11.75100
  • Liquidation Price $11.75100

Trust Specifics

  • Jul 01, 2013 Deposit Date
  • Jul 01, 2013 -
    Sep 30, 2013
    Scheduled
    Primary Offering
    Period
  • ISCPIX Nasdaq Symbol
  • 15 months Term of Trust
  • Oct 01, 2014 Termination Date
  • Tax Status:
    GRANTOR
  • Public Offering Price
    (End of deposit date) $10.00000
  • Sales Charge Schedule
  • Sales Charge Volume Discount
  • Est. Net Annual
    Income1 $0.309960
  • Initial Payable Date2 Aug 25, 2013
  • Initial Record Date2 Aug 10, 2013
  • Re-Investment Options:
    Reinvest, Cash, Wrap Reinvest, Wrap Cash
  • Estimated Frequency of Offering:
    3 months
CUSIPs Regular CUSIP Wrap Fee
Cash CUSIP 46133P263 46133P289
Re-invest CUSIP 46133P271 46133P297
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.