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PFOP0024

Preferred Opportunity Portfolio

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.

Objective

The portfolio seeks an attractive level of current income by investing in a portfolio primarily consisting of preferred securities. The portfolio was selected by Cohen & Steers Capital Management, Inc., ("Cohen & SteersSM") as the portfolio consultant.

Selection Process
The portfolio consists of preferred securities issued primarily by financial institutions such as banks and insurance companies.

Why Consider Investing in the Preferred Opportunity Portfolio?

  • Potential Monthly Income—Unlike some individual preferred securities, which pay income quarterly, this trust is structured to pay monthly income, if any, offering investors a potential regular stream of current income.
  • Convenience—Preferred securities can be difficult for an individual investor to analyze and select because of their unique structure. This trust offers the convenience of a professionally selected portfolio of preferred securities.
  • Diversification—Because the trust invests in a variety of preferred securities in several different industry sectors and with different credit quality, investors may gain an added level of portfolio diversification.
  • Qualified Dividend Income1—Qualifying dividends are currently taxed at a federal rate from zero to 20% depending on the tax bracket of the investor.

    Cohen & Steers attempted to select a portfolio that includes approximately 45%-50% preferred securities that pay dividends that qualify for this qualified dividend income treatment.

Invesco does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature and was designed to promote the marketing of units. It was not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws. Federal and state tax laws are complex and constantly changing. You should always consult your own legal or tax advisor for information concerning your individual situation.

1 There is no assurance that income distributions from the portfolio will be qualified dividends for federal tax purposes. In addition, certain holding period requirements must be satisfied for investors to be eligible to take advantage of the lower tax rate on qualified dividend income and there is no tax advantage to investors who hold units in retirement accounts. Under the Health Care and Education Reconciliation Act of 2010, income from the trust may also be subject to an additional 3.8% tax for investors exceeding certain income thresholds. Invesco, Cohen & Steers and their employees do not provide tax advice. You should consult your personal tax advisor before making any tax related investment decision.

Diversification does not ensure a profit or eliminate the risk of loss.

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1 The 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. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust have elected or may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the Historical 12 Month Distributions figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. 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.

2 As 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.

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. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units.

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.

Important Information About Benchmarks

About risk

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. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units. 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.

An investment in the trust should be made with an understanding of the risks associated with an investment in a portfolio of preferred securities, such as the inability of the issuer to pay the principal of or income on a security when due, volatile interest rates, early call provisions and changes to the tax status of the securities.

The portfolio invests exclusively in preferred securities, including hybrid and trust preferred securities. Hybrid-preferred securities are preferred securities typically issued by corporations, generally in the form of interest-bearing notes or preferred securities and may be perpetual in duration or may have a stated maturity. Trust preferred securities are similar to hybrid securities, but are typically issued by an affiliated business trust of a corporation, generally in the form of beneficial interests in subordinated debentures or similarly structured securities. Preferred securities do not generally have the growth potential of common stocks. They are also sensitive to interest rate changes and the market price generally falls with rising interest rates. In addition, they are more likely to be called for redemption in a declining interest rate environment. In the event of an issuer's bankruptcy, preferred securities will not be repaid until the issuer's other debt securities, which have priority, have been satisfied. Income payments on certain preferred securities may generally be deferred without default, although such payments will continue to accrue until paid.

The trust is concentrated in banks and other companies in the financial services industry and may present more risk than a more diversified investment. There are certain risks specific to the financial services sector, including the potential adverse effects of economic recession, volatile interest rates, and state and federal regulations.

Securities of foreign companies held by the funds in the portfolio present risks beyond those of U.S. issuers. These risks may include company's foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practicesand changes in the value of foreign currencies.

The portfolio will receive early returns of principal if securities are called or sold before the portfolio termination. If this happens your portfolio income will decline and you may not be able to reinvest the money you receive at as high a yield. In addition, the value of your units may decline if any portfolio securities trading at a premium are called at par.

Certain preferred securities in the portfolio are 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.

Opinions and forecasts expressed by Cohen & Steers Capital Management Inc. are not necessarily those of Invesco, and may not actually come to pass. Cohen & Steers is the property of Cohen & Steers Capital Management Inc., which is not affiliated with Invesco. Cohen & Steers Capital Management Inc., is being paid a license fee for the use of certain service marks and is also being compensated for portfolio consultant services, including selection of stocks for the trust.