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TAXABLE - FIXED INCOME

Series 2019-3Q, ADT 1961

Fee-Based Account UIT Fact Card

Ticketing Information Investment Objective & Principal Investment Strategy


Fee-Based CUSIP (Cash/Reinvest) 00779Y567 / 575
Ticker Symbol PFDAUX
The Cohen & Steers Preferred Income Opportunities Portfolio is a unit investment trust (UIT). The
Essential Information trust seeks to provide high current income by investing in a diversified portfolio of preferred
Unit price at inception (per unit) $9.8650 securities that currently pay a fixed rate. The trust seeks to achieve its objective by selecting
Initial redemption price (per unit) $9.8650 securities using an integrated investment process combining rigorous bottom-up research with top
Initial date of deposit 9/10/2019 down macroeconomic views. Cohen & Steers Capital Management, Inc. is the portfolio consultant.
Portfolio ending date 12/10/2020
Distribution frequency Monthly, if any By working with Cohen & Steers, investors gain access to a large and experienced team of
Historical 12-Month Distribution
preferred securities specialists. The team’s lead portfolio consultant team, Bill Scapell and Elaine
Rate of Trust Holdings* 5.02%
Zaharis-Nikas have an average of 22 years of experiences and have been managing preferred
*The distribution rate paid by the trust may be higher or
lower than the amount shown above due to factors securities since 2003.
including, but not limited to, changes in the price of trust
units, changes (including reductions) in distributions paid by The portfolio consultant considered a variety of factors in selecting the portfolio, including industry
issuers, changes in actual trust expenses and sales of
securities in the portfolio. There is no guarantee that the and company trends and fundamentals, broad economic indicators, the current regulatory
issuers of the securities included in the trust will pay any environment, fundamental credit quality, and portfolio diversification. The portfolio consultant also
distributions in the future. The Historical 12-Month
Distribution Rate of Trust Holdings is calculated by taking applied valuation screens that considered security call features, premiums and discounts, and
the weighted average of the regular income distributions
paid by the securities included in the trust’s portfolio over liquidity.
the 12 months preceding the trust’s date of deposit reduced
to account for the effects of trust fees and expenses. The
percentage shown is based on a $9.865 unit price. This Portfolio Investment Process
historical rate is for illustrative purposes only and is not
indicative of amounts that will actually be distributed by the
trust.
Fee-Based Accounts Sales Charge and
Expenses
(Based on initial Fee-Based Account unit price of $9.865)+
As % of Amount per
Fee-Based unit (based on
Public initial unit
Offering Price price)

Creation & Development Fee 0.51% $0.050


Organizational Costs + 0.50% $0.049
Total One-Time Expense 1.00% $0.099
Divided by Term of Trust
equals ÷ 1.25 years ÷ 1.25 years
Amortized One-Time Charges
Amortized One-Time Charges 0.80% $0.079
Estimated Annual Operating + 0.39% +$0.038
Expense
Estimated Average 1.19% $0.117
Amortized Annual Expenses Key Points To Consider
+All amounts are as of 9/9/2019 and may vary thereafter. • Preferred securities occupy a unique space between debt and equity, carrying attributes of
The Creation & Development Fee is fixed at $0.05 per
unit and is paid at the end of the initial offering period both asset classes
(anticipated to be approximately three months). The
Organization Costs are fixed at $0.049 per unit and are • Preferred securities generally offer better yields than bonds from the same issuer, reflecting
paid at the end of the initial offering period or after six
months, if earlier. The above table is for illustrative pur- their more junior position in the capital structure
poses only to illustrate how estimated trust fees and
expenses translate on an annualized basis. The above • Most pay dividends rather than interest, taxed at a lower rate similar to capital gains,
does not reflect the amount or how all fees and expenses potentially allowing investors to keep more of what they earn
will actually be paid. You should consult the prospectus
for a full description of applicable sales charges and • Preferred securities offer exchange traded liquidity and come in a variety of structures,
expenses of the trust, including those applicable to pur-
chasers eligible for the fee-based account discount. The including many with relatively low interest rate sensitivity
one-time charges shown (the Creation & Development
Fee and Organization Costs) are paid on a one-time • Banks, insurance companies, utility companies and real estate investment trusts (REITs)
basis as described and are not actually amortized over are the main issuers of preferred securities
the life of the trust. The amount shown for “Amortized
One-Time Charges” are calculated by taking the one-time
dollar amounts and dividing them by the anticipated life of FOR USE ONLY WITH INVESTOR ACCOUNTS ELIGIBLE FOR THE “FEE-BASED ACCOUNT”
the based on the trust’s inception date and mandatory SALES CHARGE DESCRIBED ON PAGE 3
termination date. The “Estimated Average Amortized Page 1 of 3
Annual Expenses” is taken by adding the “Amortized One
-Time Charges” amount and “Estimated Annual Operat-
ing Expense” amounts. Advisors Asset Management, Inc. (AAM) is a SEC registered investment advisor and member FINRA/SIPC.
Cohen & Steers Preferred Income Opportunities Portfolio Series 2019-3Q, ADT 1961
Fee-Based Account UIT Fact Card

Portfolio Holdings (as of date of deposit)


S&P* Dividend/ Redemption S&P* Dividend/ Redemption
Issue Name Rating Interest Provisions** Issue Name Rating Interest Provisions**
Rate Rate

Consumer Staples (3.48%) Financials (continued…)


CHS, Inc. N/A 7.50% 1/21/2025 @ 25 Prudential Financial, Inc. BBB+ 5.625% 8/15/2023 @ 25
Energy (2.00%) Regions Financial Corporation BB+ 6.375% 9/15/2024 @ 25
Enbridge, Inc. BBB- 6.375% 4/15/2023 @ 25 Reinsurance Group of America, Inc. BBB+ 6.20% 9/15/2022 @ 25
Financials (80.50%) RenaissanceRe Holdings Limited BBB 5.75% 6/30/2023 @ 25
The Allstate Corporation BBB- 5.625% 4/15/2023 @ 25 State Street Corporation BBB 5.90% 3/15/2024 @ 25
Arch Capital Group Limited N/A 5.25% 9/29/2021 @ 25 Unum Group BB+ 6.25% 6/15/2023 @ 25
Ares Management Corporation BBB- 7.00% 6/30/2021 @ 25 US Bancorp BBB 6.50% 1/15/2022 @ 25
Axis Capital Holdings Limited BBB 5.50% 11/7/2021 @ 25 Valley National Bancorp BB 5.50% 9/30/2022 @ 25
Bank of America Corporation BBB- 6.00% 5/16/2023 @ 25 Wells Fargo & Company BBB- 5.85% 9/15/2023 @ 25
Capital One Financial Corporation BB 6.20% 12/1/2020 @ 25 WR Berkley Corporation BBB- 5.75% 6/1/2021 @ 25
The Charles Schwab Corporation BBB 5.95% 6/1/2021 @ 25 Real Estate (6.53%)
Citigroup, Inc. BB+ 6.875% 11/15/2023 @ 25 National Retail Properties, Inc. BBB- 5.20% 10/11/2021 @ 25
First Republic Bank BBB- 5.50% 3/30/2021 @ 25 Public Storage BBB+ 5.15% 6/2/2022 @ 25
The Goldman Sachs Group, Inc. BB 5.50% 5/10/2023 @ 25 SITE Centers Corporation BB 6.375% 6/5/2022 @ 25
Huntington Bancshares, Inc. BB+ 6.25% 4/15/2021 @ 25 Utilities (7.49%)
Legg Mason, Inc. BB+ 5.45% 9/15/2021 @ 25 CMS Energy Corporation BBB- 5.625% 3/15/2023 @ 25
MetLife, Inc. N/A 5.625% 6/15/2023 @ 25 Dominion Energy, Inc. BBB- 5.25% 7/30/2021 @ 25
Morgan Stanley BB+ 5.85% 4/15/2027 @ 25 DTE Energy Company BBB- 5.375% 6/1/2021 @ 25
The PNC Financial Srvcs Group, Inc. BBB- 6.125% 5/1/2022 @ 25

*The ratings by Standard & Poor’s are unaudited. Certain securities held by the trust may be rated as investment grade by only one credit rating organization and either are unrated or
below investment grade by the other. Standard & Poor's is an independent provider of credit ratings. An issue credit rating is a current opinion of the creditworthiness of an obligor and
their perceived ability to meet their financial obligations. Rating agencies provide gradations of creditworthiness using rating symbols. Standard & Poor's highest rating is AAA and the
lowest rating being D. Any rating below BBB is considered to be non-investment grade or “junk”.
**The securities are first redeemable on such date and such price as listed. Certain securities have provisions which would allow for their redemption prior to the earliest stated call date
pursuant to the occurrence of certain extraordinary events.

FOR USE ONLY WITH INVESTOR ACCOUNTS ELIGIBLE FOR THE “FEE-BASED ACCOUNT”
Page 2 of 3 SALES CHARGE DESCRIBED ON PAGE 3

Intelligent Investments. Independent Ideas.


Cohen & Steers Preferred Income Opportunities Portfolio Series 2019-3Q, ADT 1961
Fee-Based Account UIT Fact Card

Industry Sector Breakdown* Country of Organization*


% of Portfolio % of Portfolio

Financials 80.50% United States 90.49%


Utilities 7.49% Bermuda 7.51%
Real Estate 6.53% Canada 2.00%
Consumer Staples 3.48% Source: Bloomberg

Energy 2.00% *As of 9/9/2019 and may vary thereafter. Breakdowns are based on the sources shown and
Source: Global Industry Classification Standard may differ from any category definitions used in selecting the trust portfolio.

Unit Investment Trusts (UITs) are sold only by prospectus. You should consider the trust’s investment objectives, risks, charges and
expenses carefully before investing. Contact your financial professional or visit Advisors Asset Management online at
www.aamlive.com/uit to obtain a prospectus, which contains this and other information about the trust.
Risks and Considerations: Unit values will fluctuate with the portfolio of underlying securities and may be worth more or less than the original purchase price at
the time of redemption. There is no guarantee that the objective will be achieved. Additionally, the trust may terminate earlier than the specified termination date as
stated in the prospectus. Consult your tax advisor for possible tax consequences associated with this investment. An investment in this unmanaged unit
investment trust should be made with an understanding of the risks associated therewith which includes, but is not limited to:

Concentration Risk: This trust is concentrated in securities issued by companies in the financial services industry. Negative developments in this sector will affect
the value of your investment more than would be the case in a more diversified investment.
Call Risk: An issuer might call a security if interest rates fall and the security pays a higher interest or dividend rate or if it no longer needs the money for the
original purpose. If an issuer calls a security, the trust will distribute the proceeds to you but your future income distributions will fall. You might not be able to
reinvest these proceeds at as high a yield. A security’s call price could be less than the price the trust paid for the security and could be below the security’s
original par or face value. You could also receive less than the amount you paid for your units. If enough securities in the trust are called, the trust could
terminate early.
Dividend Interest Payment Risk: There is no guarantee that the issuers of the securities included in the trust will be able to pay dividends or interest at their
stated rate in the future.
Foreign Securities: Securities of foreign issuers present risks beyond those of U.S. issuers. These risks may include market and political factors related to the
issuer's foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and
changes in the value of foreign currencies.
Below Investment Grade Risk: Certain securities held by the trust are either rated below investment grade by one or more ratings agencies or are unrated. These
securities are commonly known as “high yield” or “junk” securities. These securities may be considered to be speculative and may be subject to greater market and
credit risks. Accordingly, the risk of defaults may be higher than 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.
Preferred Securities: An investment in preferred securities should be made with an understanding of the various risks of owning preferred securities such as an
economic recession, volatile interest rates and the possible deterioration of either the financial condition of the issuers of the preferred securities or the general
condition of the stock market. Preferred securities do not generally have the growth potential of common stocks. They are also sensitive to changes in interest rates
and their market price generally falls with rising interest rates. Preferred securities are more likely to be called for redemption in a declining interest rate
environment. In addition, 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. Preferred securities are equity securities of the issuing company which pay income in the form of dividends.
Long-Term Strategy: The UIT matures in 2 years and, as such, investors should consider their ability to reinvest any proceeds in a subsequent UIT, if available,
with a like or differing strategy, at the applicable sales.
For Use Only with Eligible Fee-Based Account Investors: During the trust’s initial offering period, investors who purchase units through registered investment
advisers, certified financial planners or registered broker-dealers who in each case either charge investor accounts periodic fees for brokerage services, financial
planning, investment advisory or asset management services, or provide such services in connection with an investment account for which a comprehensive “wrap
fee” charge is imposed may be eligible to purchase units of the trust in fee-based accounts that are not subject to the transactional sales fee but will be subject to
the creation and development fee that is collected by the sponsor (i.e. the “Fee-Based Account” sales charge). You should consult your financial advisor to
determine whether you can benefit from these accounts and whether your unit purchases are eligible for this discount. To purchase units in these accounts, your
financial advisor must purchase units designated with one of the Fee Account CUSIP numbers, if available. The amounts shown are different from what would be
applicable for units purchased in other accounts (i.e. commission-based accounts) not eligible for this discount. See your prospectus and consult your financial
advisor for more information about eligibility and applicability of the fee-based account discount. This communication may only be used with investors that are
eligible for this discount.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a
fiduciary capacity within the meaning of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. The information provided
does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should
be made based on an investor’s objectives and circumstances and in consultation with his or her advisers.
Securities are available through your financial professional. Not FDIC Insured. Not Bank Guaranteed. May Lose Value.
For informational purposes only and not a recommendation to purchase or sell any security.
©2019 Advisors Asset Management
Advisors Asset Management, Inc. (AAM) is a SEC registered investment advisor and member FINRA/SIPC.
18925 Base Camp Road | Monument, CO 80132 | www.aamlive.com | CRN: 2018-1211-7103 R Link 5703
FOR USE ONLY WITH INVESTOR ACCOUNTS ELIGIBLE FOR THE “FEE-BASED ACCOUNT” SALES CHARGE
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Intelligent Investments. Independent Ideas.

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