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Preferred Opportunity Portfolio, Series 11 - page 2 / 2

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Before investing, investors should carefully read the prospectus and consider the investment objectives, risks, charges and expenses. For this and more complete information about the trust(s), investors should ask their advisers for a prospectus or download one at invesco.com/unittrust.

Risk considerations

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. 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.

Preferred stocks are equity securities of the issuing company which pay income in the form of dividends. Trust preferred securities are limited-life preferred securities generally issued in the form of interest-bearing notes or preferred securities, distributions on which are treated as interest rather than dividends for federal tax purposes in some cases. 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 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.

Stocks 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 practices and changes in the value of foreign currencies.

  • The Estimated Net Annual Income per unit on the reverse side of this page is as of 08/19/10 is based on the most recently declared quarterly dividends,

interim and final dividends accounting for any foreign withholding taxes or scheduled income payments, but may also be based upon several recently declared dividends. The actual net annual income distributions you receive will vary from the estimate set forth above with changes in the portfolio’s fees and expenses, in income received, currency fluctuations and with the call, maturity or sale of securities. The actual net annual distributions are expected decrease over time because a portion of the securities included in the portfolio will be sold during to pay for organization costs. Securities may also be sold to pay regular fees and expenses during the portfolio’s life.

www.invesco.com/unittrust

Invesco 11 Greenway Plaza, Suite 2500 Houston, TX 77046-1188 www.invesco.com

Invesco Distributors, Inc.

U-PFOP11 FCT-1 08.10

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