Senior Variable Rate and Income Closed-End Portfolio

TAXABLE CLOSED-END FUNDS
Series 2014-1, ADT 1171
Senior Variable Rate and Income
Closed-End Portfolio - 2 YR
Investment Objective &
Principal Investment Strategy
Closed-End Funds
The Senior Variable Rate and Income Closed-End Portfolio - 2 YR
is a unit investment trust (UIT) that seeks to provide high current
income and consists of shares of closed-end funds that invest in
senior corporate loans and other income-producing securities
selected using a disciplined investment methodology.
From a constructed universe of funds with similar objectives as the
trust, the final securities are selected by utilizing a multi-factor
approach based on the following factors:



Closed-end funds, which trade on an exchange, are structured to provide a more stable income
stream than open-ended funds. Open-ended funds do not trade on an exchange; therefore managers
may be forced to liquidate the underlying securities if investor drama demands redemptions in down
markets. Unlike open-end funds, closed-end funds may be priced at a premium or discount to the
value of the underlying securities.
Portfolio Investment Process
Premium/Discount - Funds are favored that are trading at a
discount relative to their peers and to their historic average.
For this series, the current weighted average discount to net
asset value is –7.32% 1.
Dividend - Funds are favored that have a history of a
consistent and competitive dividend and that appear to
possess the ability to keep the dividend level intact.
Performance - Funds are favored that have an above
average history of performance based on net asset value
when compared to their peers and relevant benchmark.
1 Estimates
as of the most current information available on portfolio as
of date of deposit. Information subject to change.
Ticketing Information
CUSIP (Cash)
CUSIP (Reinvest)
CUSIP (Fee-Based Cash)
CUSIP (Fee-Based Reinvest)
Ticker Symbol
00771U266
00771U274
00771U282
00771U290
SRVBEX
Sales Charges (Based on $10 unit price)++
As a % of $1,000
invested
Amount per
100 units
1.00%
2.45%
0.50%
3.95%
$10.00
$24.50
$5.00
$39.50
Fee-Based Accounts
As a % of Fee-Based
Public Offering Price
Amount per
100 units
Maximum sales fee
0.52%
$5.00
Essential Information+
Standard Accounts
Unit price at inception (per unit)
$10.000
Initial redemption price (per unit)
$9.6550
Initial date of deposit
03/07/2014
Portfolio ending date
03/03/2016
Distribution frequency
Monthly
Est. net annual distribution (1st year*)
$0.6659
Est. net annual distribution (2nd year*)
$0.6532
Initial sales fee
Deferred sales fee
Creation & Development fee
Maximum sales fee
+As of 03/06/2014 and may vary thereafter. *The
estimate is generally based on the estimate of dividends
the trust will receive by annualizing the most recent
dividend declared. The per unit estimate will vary with
changes in fees and expenses, actual dividends
received and with the sales of securities. There is no
guarantee that the issuers of the securities included in
the trust will declare distributions in the future or that, if
declared they will remain at current levels.
Sales Charge Volume Discounts+++
+++The
deferred sales fee is fixed at $0.245 per unit and is paid in
three monthly installments beginning September 20, 2014. The
creation & development fee is fixed at $0.05 per unit and is paid at
the end of the initial offering period (anticipated to be six months).
The initial and deferred sales fees may not apply to fee-based
accounts. See the prospectus for more details about fee-based
account eligibility requirements.
If you purchase:
Less than $50,000
$50,000 - $99,999
$100,000 - $249,999
$250,000 - $499,999
$500,000 - $999,999
$1,000,000 or more
Your fee will be:
3.95%
3.70%
3.45%
3.10%
1.95%
1.40%
+++Sales
charges are as a percentage of the public
offering price per unit. These discounts are only available
during the initial offering period. The breakpoints will be
adjusted to take into consideration purchase orders
stated in dollars which cannot be completely fulfilled due
to the requirements that only whole units be issued. See
the prospectus for details about sales charge discounts
including all available discounts.
Advisors Asset Management, Inc. (AAM) is a SEC registered investment advisor and member FINRA/SIPC.
Senior Variable Rate and Income Closed-End Portfolio - 2 YR
Series 2014-1, ADT 1171
Portfolio Holdings (as of date of deposit)
Ticker
Symbol Issue Name
Ticker
Symbol Issue Name
Market Value
Per Share
Market Value
Per Share
$18.30
IVH
Ivy High Income Opportunities Fund
BlackRock Debt Strategies Fund, Inc
4.10
JQC
Nuveen Credit Strategies Income Fund
9.60
EVV
Eaton Vance Limited Duration Income Fund
15.40
JRO
Nuveen Floating Rate Income Opportunity Fund
12.17
FTF
Franklin Templeton Limited Duration Income Trust
13.15
JSD
Nuveen Short Duration Credit Opportunities Fund
18.80
VTA
Invesco Dynamic Credit Opportunities Fund
13.00
TSLF THL Credit Senior Loan Fund
AIF
Apollo Tactical Income Fund, Inc
DSU
$18.30
18.33
Why Closed-End Funds that invest in Senior Loans?


Secured senior loans generally hold the most senior position in a borrower’s
capital structure and are typically backed by tangible and intangible assets
including cash, assets or other property.
The underlying loan rates “float” above reference rates such as the Prime Rate
or the LIBOR and generally adjust up or down with changes in interest rates.
Dividends can adjust with interest rate movements.


The yield on closed-end funds investing in senior loans will generally decline in
a falling interest rate environment and increase in a rising interest rate
environment.
Historically, floating rate loans have displayed little correlation to the
movements of the U.S. common stocks, high grade bonds, U.S. Government
securities and other traditional investments. Past performance, however, does
not guarantee future results.
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. Read it carefully before you invest or send any money.
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 of the portfolio will be achieved. Additionally, the trust may terminate earlier than the specific
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 following risks:
Closed-End Funds Investment: Closed-end funds are actively managed investment companies. Shares of closed-end funds frequently trade at a discount to their
net asset value in the secondary market and the net asset value of the closed-end fund shares may decrease. Closed-end funds are subject to various risks,
including management’s ability to meet the fund’s investment objective, and to manage the portfolio when the underlying securities are redeemed or sold, during
periods of market turmoil and as investor’s perceptions regarding closed-end funds or their underlying investments change.
Senior Loans: An investment in this trust should be made with the understanding of the risks associated with an investment in closed-end funds investing in senior
loans such as credit and interest rate risk. Senior loans are generally issued by banks and other financial institutions to corporations, partnerships and other entities
to finance leveraged buyouts, recapitalizations, mergers, acquisitions, stock repurchases, debt refinancing and, to a lesser extent, for general operating and other
purposes. Senior loans are generally structured as floating rate instruments in which the interest rate payable on the obligation fluctuates with interest rate changes.
As such, the yield on closed-end funds which invest in senior loans will generally decline in a falling interest rate environment and increase in a rising interest rate
environment. Senior loans are generally below investment grade quality and may be unrated at the time of investment; are generally not registered with the
Securities and Exchange Commission or state securities commissions; and are generally not listed on any securities exchange. In addition, the amount of public
information available on senior loans is generally less extensive than that available for other types of assets. An investment in senior loans involves the risk that the
borrowers may default on their obligations to pay principal or interest when due.
CRN: 2012-0907-3350 R Link 1557
Securities offered 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.
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
Intelligent Investments. Independent Ideas.

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