Invesco Unit Trusts Taxable Income Series 513 – ‘487’ on 4/24/15

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Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 487         Tis 513                                               71±   271K 
 2: EX-99.1.1   Trust Agreement                                        3±     8K 
 3: EX-99.3.1   Legal Opinion                                          3±    11K 
 4: EX-99.3.3   Legal Opinion                                          2±     9K 
 5: EX-99.4.1   Standard & Poor's Consent                              1      6K 
 6: EX-99.4.2   Grant Thornton Consent                                 1      5K 

487   —   Tis 513
Document Table of Contents

                                                             File No. 333-202682
                                                                    CIK #1608147

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

AMENDMENT NO. 1 
TO
REGISTRATION STATEMENT
ON
FORM S-6

For Registration under the Securities Act of 1933 of Securities of Unit   
Investment Trusts Registered on Form N-8B-2.                                    

  A.   Exact Name of Trust: INVESCO UNIT TRUSTS, TAXABLE INCOME SERIES 513

B.   Name of Depositor: INVESCO CAPITAL MARKETS, INC.                 

C.   Complete address of Depositor's principal executive offices:     

11 Greenway Plaza 
Houston, Texas 77046-1173 

D.   Name and complete address of agents for service:                 

PAUL HASTINGS LLP                              INVESCO CAPITAL MARKETS, INC.    
Attention: Michael R. Rosella, Esq.            Attention: John M. Zerr, Esq.    
75 East 55th Street                            11 Greenway Plaza                
New York, New York  10022                      Houston, Texas 77046-1173        

  E.   Title of securities being registered: Units of fractional undivided
beneficial interest.                                        

F.   Approximate date of proposed sale to the public:                 

AS SOON AS PRACTICABLE AFTER THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT 

/ X /  Check box if it is proposed that this filing will become effective 
    immediately upon filing on April 24, 2015, pursuant to Rule 487.

High Yield Corporate Trust, 4-7 Year Series 1 

--------------------------------------------------------------------------------

  High Yield Corporate Trust, 4-7 Year Series 1 invests in a portfolio of high
yield corporate bonds, generally maturing approximately 4 to 7 years from the   
Date of Deposit. The Trust seeks to provide a high level of current income and  
to preserve capital. See "The Trusts--Risk Factors--High Yield Bond Risk" for a 
discussion of the risks associated with investments in high yield bonds, also   
known as "junk" bonds. The Trust is a unit investment trust included in Invesco 
Unit Trusts, Taxable Income Series 513.                                         

April 24, 2015

You should read this prospectus and retain it for future reference. 
--------------------------------------------------------------------------------

The Securities and Exchange Commission has not approved or disapproved of the 
Trust Units or passed upon the adequacy or accuracy of this prospectus. 
Any contrary representation is a criminal offense.

INVESCO                                                                         

Investment Objective. The Trust seeks to provide a high level of current  
income and to preserve capital.                                                 

Principal Investment Strategy. The Trust invests in a portfolio of high   
yield corporate bonds maturing approximately 4 to 7 years from the Date of      
Deposit. In selecting bonds for the Trust, the Sponsor considered the following 
factors, among others:                                                          

o    each rated bond must either have a rating of at least "CCC-" by  
     Standard & Poor's or Fitch Ratings, or, have a rating of at least
       "Caa3" by Moody's Investors Service, Inc. or, in the case of a bond
        with no issued ratings, such a bond must have credit characteristics
        sufficiently similar to those of comparable bonds that were so rated
          as to be acceptable for acquisition by the Trust in the opinion of the
Sponsor;                                                    

    o    the prices of the bonds relative to other bonds of comparable quality
and maturity;                                               

o    the current income provided by the bonds;                        

  o    the diversification of bonds as to purpose of issue and location of
issuer; and                                                 

  o    the probability of early return of principal or high legal or event
risk.                                                       

Issuers of high yield bonds are often smaller, less-seasoned companies or 
companies that are highly leveraged with more traditional methods of financing  
unavailable to them. These bonds are almost always uncollateralized and         
subordinate to other debt that an issuer may have outstanding. Bonds rated      
below BBB- by S&P and Fitch, or below Baa3 by Moody's, are considered           
speculative and subject to high credit risk and are vulnerable to adverse       
business, financial and economic conditions but currently have the capacity to  
meet financial commitments. Bonds rated CCC by S&P and Fitch, or rated Caa by   
Moody's, are subject to very high credit risk and are at a substantial risk of  
default. See "Description of Ratings" for additional details.                   

The portfolio generally consists of taxable bonds maturing approximately 4
to 7 years from the Date of Deposit. Following the Date of Deposit, a bond may  
cease to be rated or its rating may be reduced, and the Trust could continue to 
hold such bond. See "Trust Administration--Portfolio Administration".           

  Principal Risks. As with all investments, you can lose money by investing in
the Trust. The Trust also might not perform as well as you expect. This can     
happen for reasons such as these:                                               

     o    Bond prices will fluctuate. The value of your investment may fall over
time.                                                       

o    The value of the bonds will generally fall if interest rates, in 
         general, rise. No one can predict whether interest rates will rise or
fall in the future.                                         

o    A bond issuer or insurer may be unable to make interest and/or   
principal payments in the future.                           

o    The Trust invests in bonds rated below investment grade and are  
         considered to be "junk" bonds. Bonds rated below "BBB-" by Standard &
      Poor's and Fitch, or below "Baa3" by Moody's, are considered to be
        below investment grade. These bonds 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 bonds. In
        addition, these bonds may be more sensitive to interest rate changes
          and may be more likely to make early returns of principal. The Trust's
       price per Unit, yield and return may fluctuate more than in a trust
consisting of investment grade bonds.                       

    o    The financial condition of an issuer may worsen or its credit ratings
       may drop, resulting in a reduction in the value of your Units. This
         may occur at any point in time, including during the primary offering
period.                                                     

o    The financial markets, including those for corporate bonds, have 
       recently experienced periods of extreme illiquidity and volatility.
         Due to these significant difficulties in the financial markets, there
        can be substantial uncertainty in assessing the value of an issuer's
        assets or the extent of its obligations. For these or other reasons,
        the ratings of the bonds in the Trust's portfolio may not accurately
         reflect the current financial condition or prospects of the issuer of
the bond.                                                   

o    A bond issuer might prepay or "call" a bond before its stated    
         maturity. If this happens, the Trust will distribute the principal to
        you but future interest distributions will fall. A bond's call price
could be less than the price the Trust paid for the bond.   

o    Certain of the bonds in the Trust's portfolio are restricted     
          securities that may be subject to enhanced liquidity risk. This is the
          risk that the value of a security will fall if trading in the security
          is limited or absent. Any bonds in the Trust designated as "Rule 144A"
          securities are subject to resale restrictions. The value of your Units
may decrease if there is a lack of a liquid market for these
securities.                                                 

 o    The Trust is concentrated in bonds issued by companies in both the
 consumer discretionary sector and the energy sector. Negative
         developments in either of these sectors will affect the value of your
investment more than would be the case in a more diversified
investment.                                                 

 o    We do not actively manage the Trust's portfolio. Except in limited
        circumstances, the Trust will hold the same bonds even if the market
value declines.                                             

Summary of Essential Financial Information
(As of the opening of business on the Date of Deposit)

                                                        [Enlarge/Download Table]

                                                                                                                         
=========================================================================================================================
General Information                                     Unit Price                                                       
------------------------------------------------------  -----------------------------------------------------------------

Date of Deposit                        April 24, 2015   Aggregate offering price of bonds in Trust          $  19,964,563
Principal amount of bonds in Trust        $19,650,000   Aggregate offering price of bonds per Unit          $    1,016.01
Principal amount of bonds per Unit (1)      $1,000.00     Plus sales charge per Unit                        $       30.88
Number of Units                                19,650     Plus organization costs per Unit (2)              $        2.49
Weighted average maturity of bonds            6 Years   Public offering price per Unit (3)                  $    1,049.38
                                                        Redemption price per Unit (2)(3)                    $    1,008.50
======================================================  =================================================================
Portfolio Diversification (% of Par Value)              Estimated Annual Income Per Unit                                 
------------------------------------------------------  -----------------------------------------------------------------
Consumer Discretionary                          32%     Estimated interest income                              $    68.28
Energy                                          28        Less estimated expenses (4)                          $     2.19
Industrials                                     13      Estimated net interest income                          $    66.09
Telecommunication Services                       7                                                                       
Consumer Staples                                 7      -----------------------------------------------------------------
Materials                                        6      Estimated Distributions                                          
Health Care                                      3      -----------------------------------------------------------------
Information Technology                           3      Initial interest distribution                    $        2.01 on
Utilities                                        1                                                           May 25, 2015
                                             ------     Subsequent interest distributions (6)            $           5.50
Total                                          100%     Record dates                               10th day of each month
                                             ======     Distribution dates                         25th day of each month

======================================================  =================================================================
Expenses                                                Estimated Returns                                                
------------------------------------------------------  -----------------------------------------------------------------
Sales Charge (% of Unit Price)                 2.95%    Estimated Current Return (7)                                6.30%
Organizational Costs per Unit (2)       $       2.49    Estimated Long Term Return (7)                              5.63%
                                        ============                                                                     
Estimated Annual Expenses per Unit                                                                                       
  Trustee's fee (5)                     $       0.92                                                                     
  Supervisory, bookkeeping and                                                                                           
     administrative services fee        $       0.55    -----------------------------------------------------------------
  Evaluation fee (5)                    $       0.37    CUSIP Numbers                                                    
  Other operating expenses              $       0.35    -----------------------------------------------------------------
                                        ------------    Monthly                                               42981J-10-3
Total annual expenses per Unit          $       2.19    Monthly Wrap Fee                                      42981J-11-1
                                        ============                                                                     

=========================================================================================================================

(1)  Some bonds may mature or be called or sold during your Trust's life. This  
could include a call or sale at a price below par value. We cannot    
   guarantee that the value of your Units will equal the principal amount of
bonds per Unit when you redeem them or when your Trust terminates.    

(2)  During the initial offering period, part of the value of the Units         
     represents an amount of cash deposited to pay all or a portion of the costs
    of organizing the Trust. The estimated organization costs per Unit will be
  deducted from the assets of the Trust at the earlier of six months after
     the Date of Deposit or the end of the initial offering period. If Units are
     redeemed prior to any such reduction, these costs will not be deducted from
    the redemption proceeds. Organization costs are not included in the Public
Offering Price per Unit for purposes of calculating the sales charge. 

(3)  After the first settlement date (April 29, 2015), you will pay accrued     
interest from this date to your settlement date less interest         
distributions.                                                        

(4)  This shows estimated expenses in the first year other than organization    
costs. Organization costs are not deducted from interest income.      

(5)  Your Trust assesses this fee per $1,000 principal amount of bonds. Your    
Trust assesses other fees per Unit.                                   

(6)  We base this amount on estimated cash flows per Unit. This amount will vary
with changes in expenses, interest rates and maturity, call or sale of
bonds. The Information Supplement includes the estimated cash flows.  

(7)  Estimated current return shows the estimated cash you should receive each  
year divided by the Unit price. Estimated long term return shows the  
estimated return over the estimated life of your Trust. We base this  
   estimate on an average of the bond yields over their estimated life. This
   estimate also reflects the sales charge and estimated expenses. We derive
    the average yield for your portfolio by weighting each bond's yield by its
   value and estimated life. Unlike estimated current return, estimated long
   term return accounts for maturities, discounts and premiums of the bonds.
   These estimates show a comparison rather than a prediction of returns. No
   return calculation can predict your actual return. Your actual return may
vary from these estimates.                                            

                                                        [Enlarge/Download Table]

PORTFOLIO (as of the opening of business on the Date of Deposit)                                                     
---------------------------------------------------------------------------------------------------------------------
                                                                                                         Offering    
Aggregate      Name of Issuer, Title, Interest Rate and                                   Redemption     Price To    
Principal      Maturity Date of Bonds (1)(2)                                  Ratings (3) Feature (4)(5) Trust (2)   
---------------------------------------------------------------------------------------------------------------------
                                                                                                                     
               CORPORATE BONDS - 100.00%                                                                             

               Consumer Discretionary - 31.78%                                                                       
$   150,000    Allied Specialty Vehicles, Inc.                                                                       
                 #8.50% Due 11/01/2019 (6)                                    BB-  B3     2016 @ 104.25  $    161,063
    400,000    K. Hovnanian Enterprises, Inc.                                                                        
                 8.00% Due 11/01/2019 (6)                                    CCC  Caa1    2019 @ 100          396,000
    600,000    Ashton Woods USA, L.L.C.                                                                              
                 #6.875% Due 02/15/2021 (6)                                   B-  Caa1    2017 @ 103.44       564,000
    200,000    Ferrellgas, L.P.                                                                                      
                 6.50% Due 05/01/2021                                         B+   B2     2016 @ 103.25       206,000
    600,000    Hot Topic, Inc.                                                                                       
                 #9.25% Due 06/15/2021 (6)                                     B   B2     2016 @ 106.94       660,000
    400,000    Beazer Homes USA, Inc.                                                                                
                 7.50% Due 09/15/2021                                        CCC  Caa2    2016 @ 105.63       406,000
    400,000   +Stackpole International Intermediate Company                                                          
                 7.75% Due 10/15/2021 (6)                                     B+   B2     2016 @ 105.81       404,000
    400,000    KB Home                                                                                               
                 7.00% Due 12/15/2021                                          B   B2     2021 @ 100          422,500
    200,000   +1011778 B.C. ULC / New Red Finance, Inc.                                                              
                 6.00% Due 04/01/2022 (6)                                     B-  Caa1    2017 @ 103          209,000
    400,000    Meritage Homes Corporation                                                                            
                 7.00% Due 04/01/2022                                         BB- Ba3     __________          438,000
    600,000    Carrols Restaurant Group, Inc.                                                                        
                 8.00% Due 05/01/2022 (6)                                     B-   B3     2018 @ 104          627,000
    400,000   +Altice, S.A.                                                                                          
                 7.75% Due 05/15/2022 (6)                                      B   B3     2017 @ 105.81       412,500
    400,000   +Numericable-SFR SAS                                                                                   
                 6.00% Due 05/15/2022 (6)                                     B+  Ba3     2017 @ 104.50       415,000
    400,000    DISH DBS Corporation                                                                                  
                 5.875% Due 07/15/2022                                        BB- Ba3     __________          415,500
    400,000    Hillman Group, Inc.                                                                                   
                 6.375% Due 07/15/2022 (6)                                   CCC+ Caa1    2017 @ 104.78       406,000
    200,000    CCO Holdings L.L.C.                                                                                   
                 #5.25% Due 09/30/2022                                        BB-  B1     2017 @ 102.63       201,750
               Consumer Staples - 7.12%                                                                              
    400,000   +JBS Investments GmbH                                                                                  
                 7.75% Due 10/28/2020 (6)                                     BB   NR     2017 @ 103.88       438,000
    600,000    First Quality Finance Company, Inc.                                                                   
                 4.625% Due 05/15/2021 (6)                                    BB   B2     2016 @ 103.47       571,500
    400,000    Post Holdings, Inc.                                                                                   
                 6.75% Due 12/01/2021 (6)                                     B-   B3     2017 @ 103.38       413,000
               Energy - 27.30%                                                                                       
    500,000    Exterran Partners L.P.                                                                                
                 6.00% Due 04/01/2021                                          B   B1     2017 @ 103          485,000
    400,000    Rosetta Resources, Inc.                                                                               
                 5.625% Due 05/01/2021                                        BB-  B1     2017 @ 102.81       399,000
    600,000    California Resources Corporation                                                                      
                 5.50% Due 09/15/2021 (6)                                     BB  Ba2     2021 @ 100          574,500
    200,000    Diamondback Energy, Inc.                                                                              
                 7.625% Due 10/01/2021                                        B+   B3     2016 @ 105.72       218,000
    400,000   +Navios Maritime Acquisition Corporation                                                               
                 8.125% Due 11/15/2021 (6)                                    B+   B3     2016 @ 106.09       413,000
    600,000   +Precision Drilling Corporation                                                                        
                 6.50% Due 12/15/2021                                         BB  Ba1     2016 @ 103.25       588,000

                                                        [Enlarge/Download Table]

PORTFOLIO (as of the opening of business on the Date of Deposit) (continued)                                         
---------------------------------------------------------------------------------------------------------------------
                                                                                                         Offering    
Aggregate      Name of Issuer, Title, Interest Rate and                                   Redemption     Price To    
Principal      Maturity Date of Bonds (1)(2)                                  Ratings (3) Feature (4)(5) Trust (2)   
---------------------------------------------------------------------------------------------------------------------
                                                                                                                     
               Energy - continued                                                                                    
$   400,000    Calumet Specialty Products Partners, L.P.                                                             
                 7.625% Due 01/15/2022                                        B+   B2     2018 @ 103.81  $    418,000
    400,000    Laredo Petroleum, Inc.                                                                                
                 5.625% Due 01/15/2022                                         B   B2     2017 @ 104.22       404,000
    400,000    CONSOL Energy, Inc.                                                                                   
                 5.875% Due 04/15/2022                                        BB   B1     2017 @ 104.41       375,000
    600,000    Denbury Resources, Inc.                                                                               
                 5.50% Due 05/01/2022                                         BB   B1     2017 @ 104.13       579,000
    400,000    Rice Energy, Inc.                                                                                     
                 6.25% Due 05/01/2022                                         B-   B3     2017 @ 104.69       408,000
    600,000    Bristow Group, Inc.                                                                                   
                 6.25% Due 10/15/2022                                         BB- Ba3     2017 @ 103.13       589,500
               Health Care - 3.31%                                                                                   
    600,000    Tenet Healthcare Corporation                                                                          
                 8.125% Due 04/01/2022                                       CCC+  B3     __________          661,500
               Industrials - 13.34%                                                                                  
    400,000    Florida East Coast Holdings Corporation                                                               
                 6.75% Due 05/01/2019 (6)                                      B   B3     2016 @ 105.06       407,500
    400,000    CTP Transportation Products L.L.C.                                                                    
                 8.25% Due 12/15/2019 (6)                                     B+   B2     2016 @ 104.13       429,000
    400,000    ADS Waste Holdings, Inc.                                                                              
                 8.25% Due 10/01/2020                                        CCC+ Caa2    2016 @ 104.13       426,500
    400,000    Titan International, Inc.                                                                             
                 6.875% Due 10/01/2020                                        B+   B3     2016 @ 105.16       359,000
    400,000    Builders FirstSource, Inc.                                                                            
                 7.625% Due 06/01/2021 (6)                                     B  Caa1    2016 @ 105.72       422,000
    200,000    Meritor, Inc.                                                                                         
                 6.75% Due 06/15/2021                                          B   B2     2016 @ 105.06       211,000
    400,000   +Fly Leasing, Ltd.                                                                                     
                 6.375% Due 10/15/2021                                        BB   B2     2017 @ 104.78       408,000
               Information Technology - 3.15%                                                                        
    400,000    EarthLink Holdings Corporation                                                                        
                 7.375% Due 06/01/2020                                        B+  Ba3     2016 @ 105.53       418,000
    200,000    Amkor Technology, Inc.                                                                                
                 6.375% Due 10/01/2022                                        BB   B2     2016 @ 104.78       210,000
               Materials - 6.24%                                                                                     
    400,000   +Norbord, Inc.                                                                                         
                 5.375% Due 12/01/2020 (6)                                    BB- Ba2     __________          401,000
    200,000   +ArcelorMittal                                                                                         
                 #7.00% Due 02/25/2022 (7)                                    BB  Ba1     __________          221,750
    600,000    Evolution Escrow Issuer, L.L.C.                                                                       
                 7.50% Due 03/15/2022 (6)                                     BB-  B3     2018 @ 103.75       622,500
               Telecommunication Services - 6.70%                                                                    
    600,000   +Intelsat Luxembourg, S.A.                                                                             
                 7.75% Due 06/01/2021                                        CCC+ Caa2    2017 @ 103.88       555,000
    200,000    Level 3 Financing, Inc.                                                                               
                 5.375% Due 08/15/2022                                         B   B3     2017 @ 102.69       207,000
    600,000    Sprint Communications, Inc.                                                                           
                 6.00% Due 11/15/2022                                         B+   B2     __________          576,000
               Utilities - 1.06%                                                                                     
    200,000    Berry Plastics Corporation                                                                            
                 5.50% Due 05/15/2022                                         B-   B3     2017 @ 104.13       211,000
-----------                                                                                              ------------
$19,650,000                                                                                              $ 19,964,563
===========                                                                                              ============


For an explanation of the footnotes used on this page, see "Notes to Portfolio".

Notes to Portfolio                                                              

(1)  The bonds are represented by "regular way" or "when issued" contracts for  
    the performance of which an irrevocable letter of credit, obtained from an
     affiliate of the Trustee, has been deposited with the Trustee. Contracts to
   acquire the bonds were entered into during the period from April 20, 2015
to April 24, 2015.                                                    

(2)  The Offering Price to Trust of the bonds is based on the offering side     
   valuation as of the opening of business on the Date of Deposit determined
    by the Evaluator, a third party valuation provider, on the basis set forth
 under "Public Offering--Unit Price". In accordance with FASB Accounting
Standards Codification ("ASC"), ASC 820, Fair Value Measurements and  
Disclosures, the Trust's investments are classified as Level 2, which 
 refers to security prices determined using other significant observable
   inputs. Observable inputs are inputs that other market participants would
use in pricing a security. These may include quoted market prices for 
    similar securities, interest rates, prepayment speeds and credit risk. The
cost of the bonds to the Sponsor for the Trust is $19,837,549 and the 
Sponsor's profit or (loss) is $127,014.                               

"+" indicates that the bond was issued by a foreign company.          

The Sponsor may have entered into contracts which hedge interest rate 
fluctuations on certain bonds. The cost of any such contracts and the 
corresponding gain or loss as of the evaluation time of the bonds is  
included in the Cost to Sponsor. Bonds marked by "##" following the   
     maturity date have been purchased on a "when, as and if issued" or "delayed
    delivery" basis. Interest on these bonds begins accruing to the benefit of
    Unitholders on their respective dates of delivery. Delivery is expected to
take place at various dates after the first settlement date.          

"#" prior to the coupon rate indicates that the bond was issued at an 
    original issue discount. See "The Trusts--Risk Factors". The tax effect of
 bonds issued at an original issue discount is described in "Federal Tax
Status".                                                              

(3)  "(o)" indicates that the rating is contingent upon receipt by the rating   
  agency of a policy of insurance obtained by the issuer of the bonds. All
ratings are by Standard & Poor's and Moody's, respectively, unless    
otherwise indicated. "*" indicates a security rating by Fitch. "NR"   
   indicates that the rating service did not provide a rating for that bond.
For a brief description of the ratings see "Description of Ratings".  

(4)  With respect to any bonds presenting a redemption feature in this column,  
    this is the year in which each bond is initially or currently callable and
the call price for that year. Each bond continues to be callable at   
   declining prices thereafter (but not below par value) except for original
issue discount bonds which are redeemable at prices based on the issue
 price plus the amount of original issue discount accreted to redemption
     date plus, if applicable, some premium, the amount of which will decline in
subsequent years. To the extent bonds were deposited in the Trust at a
     price higher than the price at which they are redeemed, this will represent
    a loss of capital when compared with the original Public Offering Price of
 the Units. Distributions will generally be reduced by the amount of the
    income which would otherwise have been paid with respect to redeemed bonds
     and Unitholders will receive a distribution of the principal amount and any
   premium received on such redemption (except to the extent the proceeds of
the redeemed bonds are used to pay for Unit redemptions). The Trust's 
     Estimated Current Return and Estimated Long Term Return amounts may also be
affected by such redemptions. "S.F." indicates a sinking fund is      
established with respect to an issue of bonds. The bonds may also be  
     subject to redemption without premium at any time pursuant to extraordinary
optional or mandatory redemptions if certain events occur. See "The   
Trusts--Risk Factors--Call Risk".                                     

(5)  Certain bonds have a "make whole" call option and are redeemable in whole  
  or in part at any time at the option of the issuer at a redemption price
    that is generally equal to the sum of the principal amount of such bond, a
 "make whole" amount, and any accrued and unpaid interest to the date of
  redemption. The "make whole" amount is generally equal to the excess, if
 any, of (i) the aggregate present value as of the date of redemption of
    principal being redeemed and the amount of interest (exclusive of interest
accrued to the date of redemption) that would have been payable if    
redemption had not been made, determined by discounting the remaining 
    principal and interest at a specified rate (which varies from bond to bond
     and is generally equal to an average of yields on U.S. Treasury obligations
with maturities corresponding to the remaining life of the bond plus a
     premium rate) from the dates on which the principal and interest would have
   been payable if the redemption had not been made, over (ii) the aggregate
  principal amount of the bonds being redeemed. In addition, the bonds may
also be subject to redemption without premium at any time pursuant to 
  extraordinary optional or mandatory redemptions if certain events occur.
See "The Trusts--Risk Factors--Call Risk".                            

(6)  This is a restricted security that may only be resold pursuant to Rule 144A
    under the Securities Act of 1933, as amended. See "Risk Factors--Liquidity
Risk".                                                                

(7)  This bond is subject to interest rate adjustments based on ratings events, 
  and accordingly, its interest rate has been increased due to a series of
  ratings downgrades. The interest rate payable on this bond is subject to
    further potential interest rate adjustments, not to exceed 1.00 percentage
   point above the bond's original interest rate of 6.25%, if either Moody's
     or Standard & Poor's (or, in certain limited circumstances, another ratings
service) adjusts their rating for this bond. In particular, any future
  credit rating improvements may result in a decrease in the interest rate
payable on this bond. The interest rate set forth here represents the 
current interest rate applicable to the bond.                         

Underwriting. The Underwriters named below have purchased Units in the    
following amounts from the Sponsor, the sole and exclusive principal            
underwriter. See "Public Offering--Sponsor and Underwriter Compensation".       

                                                        [Enlarge/Download Table]

Name                              Address                                                              Units    
--------------------------------  ---------------------------------------------------------------   ------------
                                                                                                                

SWS Securities Inc.               1201 Elm Street, Suite 4300, Dallas, Texas 75270                        10,550
Morgan Stanley & Company, Inc.    1585 Broadway, New York, New York 10036                                  8,700
Janney Montgomery Scott Inc.      1801 Market Street, 11th Floor, Philadelphia, Pennsylvania 19103           357
Invesco Capital Markets, Inc.     3500 Lacey Road, Suite 700, Downers Grove, IL 60515-5456                    43
                                                                                                    ------------
                                                                                                          19,650
                                                                                                    ============


Report of Independent Registered Public Accounting Firm 

To the Unitholders of High Yield Corporate Trust, 4-7 Year Series 1       
(included in Invesco Unit Trusts, Taxable Income Series 513):                   

We have audited the accompanying statement of condition including the     
related portfolio of High Yield Corporate Trust, 4-7 Year Series 1 (included in 
Invesco Unit Trusts, Taxable Income Series 513) as of April 24, 2015. The       
statement of condition is the responsibility of the Sponsor. Our responsibility 
is to express an opinion on such statement of condition based on our audit.     

We conducted our audit in accordance with the standards of the Public     
Company Accounting Oversight Board (United States). Those standards require     
that we plan and perform the audit to obtain reasonable assurance about whether 
the statement of condition is free of material misstatement. We were not        
engaged to perform an audit of the Trust's internal control over financial      
reporting. Our audit included consideration of internal control over financial  
reporting as a basis for designing audit procedures that are appropriate in the 
circumstances, but not for the purpose of expressing an opinion on the          
effectiveness of the Trust's internal control over financial reporting.         
Accordingly, we express no such opinion. An audit also includes examining, on a 
test basis, evidence supporting the amounts and disclosures in the statement of 
condition, assessing the accounting principles used and significant estimates   
made by the Sponsor, as well as evaluating the overall statement of condition   
presentation. Our procedures included confirmation with The Bank of New York    
Mellon, Trustee, of cash or an irrevocable letter of credit deposited for the   
purchase of securities as shown in the statement of condition as of April 24,   
2015. We believe that our audit of the statement of condition provides a        
reasonable basis for our opinion.                                               

In our opinion, the statement of condition referred to above presents     
fairly, in all material respects, the financial position of High Yield          
Corporate Trust, 4-7 Year Series 1 (included in Invesco Unit Trusts, Taxable    
Income Series 513) as of April 24, 2015, in conformity with accounting          
principles generally accepted in the United States of America.                  

New York, New York                                      /s/ GRANT THORNTON LLP  
April 24, 2015                                                                  

Statement of Condition
As of the opening of business on April 24, 2015 

INVESTMENT IN BONDS                                                             
Contracts to purchase bonds (1)(2)                         $   19,964,563 
Accrued interest to the first settlement date (1)(2)              363,296 
Cash (3)                                                           48,915 
                                                          --------------
       Total                                              $   20,376,774
                                                          ==============
LIABILITY AND INTEREST OF UNITHOLDERS                                           
Liability--                                                               
       Accrued interest payable to Sponsor (1)(2)         $      363,296
       Organization costs (3)                                     48,915
Interest of Unitholders--                                                 
       Cost to investors                                      20,620,340
       Less: Gross underwriting commission                       606,862
       Less: Organization costs (3)                               48,915
                                                          --------------
       Net interest to Unitholders (1)(2)                     19,964,563
                                                          --------------
       Total                                              $   20,376,774
                                                          ==============
Units outstanding                                                  19,650 
                                                          ==============
Net asset value per Unit                                   $     1,016.01 
                                                          ==============

--------------------                                                            
(1)  The value of the bonds is determined by Standard & Poor's Securities       
Evaluations, Inc. on the bases set forth under "Public Offering--Unit 
Price". The contracts to purchase bonds are collateralized by an      
irrevocable letter of credit in an amount sufficient to satisfy such  
contracts.                                                            

(2)  The Trustee will advance the amount of the net interest accrued to the     
   first settlement date to the Trust for distribution to the Sponsor as the
Unitholder of record as of such date.                                 

(3)  A portion of the public offering price represents an amount of cash        
sufficient to pay for all or a portion of the costs incurred in       
establishing the Trust. The amount of these costs are set forth under 
     "Summary of Essential Financial Information--Expenses". A distribution will
  be made as of the earlier of six months after the Date of Deposit or the
close of the initial offering period to an account maintained by the  
 Trustee from which the organization expense obligation of the investors
will be satisfied. To the extent that actual organization costs of the
Trust are greater than the estimated amount, only the estimated       
     organization costs added to the public offering price will be reimbursed to
the Sponsor and deducted from the assets of the Trust.                

THE TRUSTS                                                                      
--------------------------------------------------------------------------------

General. Your Trust was created under the laws of the State of New York   
pursuant to a Trust Indenture and Agreement (the "Trust Agreement"), dated the  
date of this prospectus (the "Date of Deposit") among Invesco Capital Markets,  
Inc., as Sponsor, Standard & Poor's Securities Evaluations, Inc., as Evaluator, 
Invesco Investment Advisers LLC, as Supervisor, and The Bank of New York        
Mellon, as Trustee.                                                             

Your Trust may be an appropriate medium for investors who desire to       
participate in a portfolio of taxable bonds with greater diversification than   
they might be able to acquire individually. Diversification of a Trust's assets 
will not eliminate the risk of loss always inherent in the ownership of bonds.  
In addition, bonds of the type initially deposited in the portfolio of a Trust  
are often not available in small amounts and may, in the case of any privately  
placed bonds, be available only to institutional investors.                     

  On the Date of Deposit, the Sponsor deposited with the Trustee the aggregate
principal amount of bonds indicated in the "Summary of Essential Financial      
Information". The bonds initially consist of delivery statements relating to    
contracts for their purchase and cash, cash equivalents and/or irrevocable      
letters of credit issued by a financial institution. Thereafter, the Trustee,   
in exchange for the bonds, delivered to the Sponsor evidence of ownership of    
the number of Units indicated under "Summary of Essential Financial             
Information". A Trust that holds primarily bonds within the 4 to 7 year         
maturity range, as described on the cover of the prospectus, is referred to     
herein as a "High Yield Trust". Unless otherwise terminated as provided herein, 
the Trust Agreement will terminate at the end of the calendar year prior to the 
twentieth anniversary of its execution in the case of a High Yield Trust.       

Each Unit initially offered represents a fractional undivided interest in 
the principal and net income of the Trust. The number of Units is determined    
based upon a $1,000 principal amount of bonds in the Trust per Unit. To the     
extent that any Units are redeemed by the Trustee, the fractional undivided     
interest in the Trust represented by each Unit will increase, although the      
actual interest in the Trust will remain unchanged. Units will remain           
outstanding until redeemed by Unitholders or until the termination of the Trust 
Agreement.                                                                      

Objective and Bond Selection. The objective of a High Yield Trust is to   
provide a high level of current income and to preserve capital by investing in  
a portfolio primarily consisting of high yield corporate bonds maturing         
approximately 4 to 7 years from the Date of Deposit. There is, of course, no    
guarantee that a Trust will achieve its objective. Your Trust may be an         
appropriate investment vehicle for investors who desire to participate in a     
portfolio of fixed income bonds with greater diversification than they might be 
able to acquire individually.                                                   

In selecting bonds for each Trust, the Sponsor considered the following   
factors, among others: (a) the ratings criteria applicable to your Trust as     
listed under "Principal Investment Strategy", (b) the prices of the bonds       
relative to other bonds of comparable quality and maturity, (c) the current     
income provided by the bonds; (d) the diversification of bonds as to purpose of 
issue and location of issuer; (e) the probability of early return of principal  
or high legal or event risk. After the Date of Deposit, a bond may cease to be  
rated or its rating may be reduced below the minimum required as of the Date of 
Deposit. Neither event requires elimination of a bond from a Trust but may be   
considered in the Sponsor's determination as to whether or not to direct the    
Trustee to dispose of the bond (see "Trust Administration--Portfolio            
Administration"). See "The Trusts--Risk Factors".                               

 Risk Factors. All investments involve risk. This section describes the main
risks that can impact the value of bonds in your Trust. You should understand   
these risks before you invest. If the value of the bonds falls, the value of    
your Units will also fall. You can lose money by investing in a Trust. No one   
can guarantee that your Trust will achieve its objective or that your           
investment return will be positive over any period. The Information Supplement, 
which is available upon request, contains a more detailed discussion of risks   
related to your investment.                                                     

Current economic conditions. The economic recession in the United States  
which began in 2007 technically came to an end in June of 2009, however the     
U.S. and global economies continue to feel the effects of this recessionary     
period, including increased unemployment and below-average levels of economic   
activity. The U.S. and other foreign governments have taken extraordinary steps 
to combat the effects of the economic crisis, however the ultimate impact of    
these measures is unknown and cannot be predicted. In December of 2013, the     
U.S. Federal Reserve announced it would begin tapering its quantitative easing  
program, however, there continues to be uncertainty concerning potential future 
changes to the federal funds rate following a period of near zero interest      
rates over the previous five years. On August 5, 2011, Standard & Poor's Rating 
Services downgraded the long-term sovereign credit rating of the United States  
of America to AA+ from AAA, citing the prolonged controversy over raising the   
statutory debt ceiling and the related fiscal policy debate. Any substantial    
change in general market conditions may result in sudden and significant        
valuation increases or declines in your Trust's holdings.                       

Market risk is the risk that the value of the bonds in your Trust will    
fluctuate. This could cause the value of your Units to fall below your original 
purchase price or below the par value. Market value fluctuates in response to   
various factors. These can include changes in interest rates, inflation, the    
financial condition of a bond's issuer or insurer, perceptions of the issuer or 
insurer, or ratings on a bond. Even though the Supervisor supervises your       
portfolio, you should remember that no one manages your portfolio. Your Trust   
will not sell a bond solely because the market value falls as is possible in a  
managed fund.                                                                   

High Yield Bond Risk. The Trust invests exclusively in high yield bonds.  
High yield, or "junk" bonds, are frequently issued by corporations in the       
growth stage of their development or by established companies who are highly    
leveraged or whose operations or industries are depressed. High yield bonds are 
rated below BBB- by S&P or Fitch, or below Baa3 by Moody's, and are considered  
speculative as these ratings indicate a quality below investment grade. For     
additional information regarding ratings definitions, see "Description of       
Ratings".                                                                       

The prices of and yields on high yield bonds may fluctuate to a greater   
extent than those of higher rated bonds. Because high yield bonds are generally 
subordinated obligations and are perceived by investors to be riskier than      
higher rated bonds, their prices tend to fluctuate more than higher rated bonds 
and are affected by economic, political, regulatory, company-specific and       
short-term credit developments to a greater degree. Their values can decline    
significantly over short periods of time or during periods of economic          
difficulty when the bonds could be difficult to value or sell at a fair price.  

The market for high yield bonds is smaller and less liquid than that for  
investment grade bonds. High yield bonds are generally not listed on a national 
securities exchange but trade in the over-the-counter markets. Due to the       
smaller, less liquid market for high yield bonds, the bid-offer spread on such  
bonds is generally greater than it is for investment grade bonds and the        
purchase or sale of such bonds may take longer to complete. Further, the Trust  
may have difficulty selling certain high yield bonds at the desired time and    
price. Less liquidity could adversely affect the price at which the Trust could 
sell a particular high yield bond, and could cause significant fluctuations in  
the net asset value of the Trust's Units. The lack of a liquid trading market   
may also make it more difficult for the Trust to obtain accurate market         
quotations in valuing high yield bonds and elements of judgment may play a      
greater role in valuation.                                                      

High yield bonds are also subject to greater credit risk (including the   
possibility of an issuer's default or bankruptcy) than bonds in higher rating   
categories. An economic slowdown, or a reduction in an issuer's                 
creditworthiness, may result in the issuer being unable to maintain earnings at 
a level sufficient to maintain interest and principal payments. The risk of     
default among high yield bonds is also enhanced since these securities are      
generally subordinated obligations within an issuer's overall capital           
structure. Generally, no payment with respect to subordinated indebtedness      
(such as a high yield bond in the Trust) may be made while there exists a       
default with respect to any senior indebtedness. Thus, in the event of          
insolvency, holders of senior indebtedness of an issuer generally will recover  
more, ratably, than holders of subordinated indebtedness of that issuer.        

  Should the issuer of any high yield bond default in the payment of principal
or interest, the Trust may incur additional expenses seeking payment on the     
defaulted bond. Because amounts (if any) recovered by the Trust in payment      
under the defaulted bond may not be reflected in the value of the Trust's Units 
until actually received by the Trust, and depending upon when a Unitholder      
purchases or sells his or her Units, it is possible that a Unitholder would     
bear a portion of the cost of recovery without receiving any portion of the     
payment recovered.                                                              

 Foreign securities risk. Investing in foreign securities typically involves
more risks than investing in securities of United States issuers. These risks   
can increase the potential for losses in the Trust and affect its Unit price.   
These risks may include risks such as losses due to political, economic and     
social developments, international trade conditions, foreign taxes (including   
withholding taxes), restrictions on foreign investments or exchange of          
securities, foreign currency fluctuations or restriction on exchange or         
repatriation of currencies.                                                     

 The political, economic and social structures of some foreign countries may
be less stable and more volatile than those in the U.S., and investments in     
these countries may be subject to the risks of internal and external conflicts, 
currency devaluations, foreign ownership limitations and tax increases. It is   
possible that a government may take over the assets or operations of a company  
or impose restrictions on the exchange or export of currency or other assets.   
Some countries also may have different legal systems that may make it difficult 
for the Trust to exercise investor rights, and pursue legal remedies with       
respect to its foreign investments. Diplomatic and political developments,      
including rapid and adverse political changes, social instability, regional     
conflicts, terrorism and war, could affect the economies, industries, and       
securities and currency markets, and the value of the Trust's investments, in   
non-U.S. countries. No one can predict the impact that these factors could have 
on the Trust's portfolio securities.                                            

Foreign companies may not be subject to the same disclosure, accounting,  
auditing and financial reporting standards and practices as U.S. companies.     
Thus, there may be less information publicly available about foreign companies  
than about most U.S. companies.                                                 

Certain foreign securities may be less liquid (harder to sell) and more   
volatile than many U.S. securities. This means the Trust may at times be unable 
to sell foreign securities in a timely manner or at favorable prices.           

  Interest rate risk is the risk that the value of bonds will fall if interest
rates increase. Bonds typically fall in value when interest rates rise and rise 
in value when interest rates fall. Bonds with longer periods before maturity    
are often more sensitive to interest rate changes. Interest rates in the United 
States are at or near historic lows, which may increase the Trust's exposure to 
risks associated with rising interest rates.                                    

Certain bonds in your Trust may be subject to interest rate adjustments if
either Moody's or Standard & Poor's (or, in certain limited circumstances,      
another ratings service) downgrades the rating for such bond (or upgrades the   
rating after such a downgrade). The interest rates payable on certain bonds in  
your Trust may have already been increased due to past ratings downgrades. Any  
future credit rating improvements on such bonds may result in decreases to the  
interest rates payable on such bonds and, consequently, may adversely affect    
both the income you receive from the securities in the Trust and the value of   
your Units. On the other hand, increases in a bond's interest rate related to   
decreases in such bond's credit rating may place additional financial strain on 
the bond's issuer which could result in further decreases in financial condition
and further credit rating decreases. Additionally, an increase in a bond's      
interest rate may increase the risk that the bond's issuer will prepay or "call"
the bond before its stated maturity.                                            

   Credit risk is the risk that a bond's issuer or insurer is unable to meet its
obligation to pay principal or interest on the bond.                            

Call risk is the risk that the issuer prepays or "calls" a bond before its
stated maturity. An issuer might call a bond if interest rates fall and the     
bond pays a higher interest rate or if it no longer needs the money for the     
original purpose. If an issuer calls a bond, your Trust will distribute the     
principal to you but your future interest distributions will fall. You might    
not be able to reinvest this principal at as high a yield. A bond's call price  
could be less than the price your Trust paid for the bond and could be below    
the bond's par value. This means that you could receive less than the amount    
you paid for your Units. If enough bonds in your Trust are called, your Trust   
could terminate early.                                                          

Some or all of the bonds may also be subject to extraordinary optional or 
mandatory redemptions if certain events occur, such as certain changes in tax   
laws, the substantial damage or destruction by fire or other casualty of the    
project for which the proceeds of the bonds were used, and various other        
events. The call provisions are described in general terms in the "Redemption   
Feature" column of the "Portfolio" section, and the notes thereto.              

Bond quality risk is the risk that a bond will fall in value if a rating  
agency decreases the bond's rating.                                             

Bond concentration risk is the risk that your Trust is less diversified   
because it concentrates in a particular type of bond. When a certain type of    
bond makes up 25% or more of a Trust, the Trust is considered to be             
"concentrated" in that bond type. The different bond types are described in the 
following sections.                                                             

  Reduced diversification risk is the risk that your Trust will become smaller
and less diversified as bonds are sold, are called or mature. This could        
increase your risk of loss and increase your share of Trust expenses.           

 Liquidity risk is the risk that the value of a bond will fall if trading in
the bond is limited or absent, thereby adversely affecting the Trust's net      
asset value. No one can guarantee that a liquid trading market will exist for   
any bond in the Trust because these bonds all generally trade in the            
over-the-counter market (they are not listed on a securities exchange). Because 
of the difficulties currently being experienced by many companies in the        
financial services industry, many markets are experiencing substantially        
reduced liquidity. As a result of such illiquidity, the Trustee may have to     
sell other or additional bonds if necessary to satisfy redemption requests.     

Certain bonds in the Trust are designated as "Rule 144A" restricted       
securities ("Rule 144A securities") pursuant to the Securities Act of 1933, as  
amended ("1933 Act"), and may be subject to enhanced liquidity risk. Restricted 
securities may be sold only in privately negotiated transactions or in a public 
offering with respect to a registration statement which is in effect under the  
1933 Act. Rule 144A securities are restricted securities that may only be       
resold in accordance with the applicable provisions of the 1933 Act. Rule 144A  
establishes a "safe harbor" from the registration requirements of the 1933 Act  
permitting the resale of restricted securities by the Trust to qualified        
institutional buyers. The only restricted securities in which the Trust invests 
are Rule 144A securities.                                                       

 Subsequently, the overall liquidity of the Trust may decrease to the extent
the Trust's restricted securities are not readily marketable or become illiquid 
at the time the Trust may be seeking to sell such securities, such as for a     
request for redemption. An insufficient number of qualified institutional       
buyers interested in purchasing restricted securities held by the Trust may     
adversely affect the marketability of such securities, and the Trustee might be 
unable to dispose of such Trust securities promptly or at reasonable prices.    
Since it is not possible to predict with assurance exactly how the market for a 
particular Rule 144A restricted security will develop, the Sponsor will         
carefully monitor the Trust's investments in these securities, focusing on such 
factors, among others, as valuation, liquidity and availability of              
information.                                                                    

In the extraordinary circumstance where registration is required for the  
resale of a restricted security, additional expenses may be incurred and a      
considerable period may elapse from the time the Trustee attempts to sell such  
restricted Trust securities and the time the Trustee may be permitted to sell   
the restricted Trust securities under an effective registration statement.      
Under these circumstances, the Trustee may experience difficulty satisfying     
redemptions within three business days.                                         

Litigation and legislation risk is the risk that future litigation or     
legislation could affect the value of your Trust. Litigation could challenge an 
issuer's authority to issue or make payments on bonds.                          

Corporate Bond Industry Risks. Your Trust may invest significantly in     
certain industries. Any negative impact on the related industry will have a     
greater impact on the value of Units than on a portfolio diversified over       
several industries. You should understand the risks of these industries before  
you invest.                                                                     

Consumer Discretionary and Consumer Staples Issuers. Your Trust may invest
significantly in bonds issued by companies that manufacture or sell various     
consumer products. General risks of these companies include the overall state   
of the economy, intense competition and consumer spending trends. A decline in  
the economy which results in a reduction of consumers' disposable income can    
negatively impact spending habits. Global factors including political           
developments, imposition of import controls, fluctuations in oil prices, and    
changes in exchange rates may adversely affect issuers of consumer products and 
services.                                                                       

  Competitiveness in the retail industry may require large capital outlays for
the installation of automated checkout equipment to control inventory, track    
the sale of items and gauge the success of sales campaigns. Retailers who sell  
their products over the Internet have the potential to access more consumers,   
but may require sophisticated technology to remain competitive. Changes in      
demographics and consumer tastes can also affect the demand for, and the        
success of, consumer products and services in the marketplace. Consumer         
products and services companies may be subject to government regulation         
affecting their products and operations which may negatively impact             
performance. Tobacco companies may be adversely affected by new laws,           
regulations and litigation.                                                     

Financial Services Issuers. Your Trust may invest significantly in bonds  
issued by financial services companies. Companies in the financial services     
industry include, but are not limited to, companies involved in activities such 
as banking, mortgage finance, consumer finance, specialized finance, industrial 
finance and leasing, investment banking and brokerage, asset management and     
custody, corporate lending, insurance, and financial investment and real        
estate, including real estate investment trusts. In general, financial services 
issuers are substantially affected by changes in economic and market            
conditions, including: the liquidity and volatility levels in the global        
financial markets; interest rates, as well as currency and commodities prices;  
investor sentiment; the rate of corporate and consumer defaults; inflation and  
unemployment; the availability and cost of capital and credit; exposure to      
various geographic markets or in commercial and residential real estate;        
competition from new entrants in their fields of business; extensive government 
regulation; and the overall health of the U.S. and international economies.     

The financial services sector continues to be adversely affected by global
developments over the last several years stemming from the financial crisis     
including recessionary conditions, deterioration in the credit markets and      
recurring concerns over sovereign debt. A substantial amount of assets have     
been written down by financial institutions, with the impact of these losses    
forcing a number of large traditional banks, investment banks, broker-dealers   
and insurers into liquidation, combination or other restructuring. This also    
has significantly increased the credit risk, and possibility of default, of     
bonds issued by such institutions faced with these problems. Many of the        
institutions may continue to experience difficulty in accessing credit markets  
to finance their operations and in maintaining appropriate levels of equity     
capital. In addition, the liquidity of certain debt instruments has been        
reduced or eliminated due to the lack of available market makers. While the     
U.S. and foreign governments, and their respective government agencies, have    
taken steps to address problems in the financial markets and with financial     
institutions, there can be no assurance that the risks associated with          
investment in financial services issuers will decrease as a result of these     
steps.                                                                          

Most financial services companies are subject to extensive governmental   
regulation, which limits their activities and may affect their ability to earn  
a profit from a given line of business. Challenging economic and political      
conditions, along with increased public scrutiny during the past several years, 
have led to new legislation and increased regulation in the U.S. and abroad,    
creating additional difficulties for financial institutions. Regulatory         
initiatives and requirements that are being proposed around the world may be    
inconsistent or may conflict with regulations to which financial services       
issuers are currently subject, thereby resulting in higher compliance and legal 
costs, as well as the potential for higher operational, capital and liquidity   
costs. Proposed or enacted regulations may further limit the amounts and types  
of loans and other financial commitments certain financial services issuers can 
make, and further, may limit the interest rates and fees they can charge, the   
prices they can charge and the amount of capital they must maintain. These laws 
and regulations may affect the manner in which a particular financial           
institution does business and the products and services it may provide.         
Increased regulation may restrict a company's ability to compete in its current 
businesses or to enter into or acquire new businesses. New regulations may      
reduce or limit a company's revenue or impose additional fees, limit the scope  
of their activities, increase assessments or taxes on those companies and       
intensify regulatory supervision, adversely affecting business operations or    
leading to other negative consequences.                                         

Among the most prominent pieces of legislation following the financial    
crisis has been the Dodd-Frank Wall Street Reform and Consumer Protection Act   
(the "Dodd-Frank Act"), enacted into federal law on July 21, 2010. The          
Dodd-Frank Act includes reforms and refinements to modernize existing laws to   
address emerging risks and issues in the nation's evolving financial system. It 
also establishes entirely new regulatory regimes, including in areas such as    
systemic risk regulation, over-the-counter derivatives market oversight, and    
federal consumer protection. The Dodd-Frank Act is intended to cover virtually  
all participants in the financial services industry for years to come,          
including banks, thrifts, depository institution holding companies, mortgage    
lenders, insurance companies, industrial loan companies, broker-dealers and     
other securities and investment advisory firms, private equity and hedge funds, 
consumers, numerous federal agencies and the federal regulatory structure. In   
particular, certain provisions of the Dodd-Frank Act increase the capital       
requirements of certain financial services companies supervised by the Federal  
Reserve, resulting in such companies incurring generally higher deposit         
premiums. These types of regulatory changes may have adverse effects on certain 
issuers in your Trust, and could lead to decreases in such issuers' profits or  
revenues. In many cases the full impact of the Dodd-Frank Act on a financial    
institution's business remains uncertain because of the extensive rule-making   
still to be completed. The Sponsor is unable to predict the ultimate impact of  
the Dodd-Frank Act, and any resulting regulation, on the securities in your     
Trust or on the financial services industry in general.                         

Financial services companies in foreign countries are also subject to     
regulatory and interest rate concerns. In particular, government regulation in  
certain foreign countries may include controls on interest rates, credit        
availability, prices and currency transfers. Negative developments regarding    
Eurozone sovereign debt, including the potential for further downgrades of      
sovereign credit ratings, as well as downgrades to the ratings of the U.S.      
government's sovereign credit rating, could adversely affect financial services 
issuers. In addition, the departure of any Eurozone country from use of the     
Euro could lead to serious disruptions to foreign exchanges, operations and     
settlements, which may have an adverse effect on financial services issuers.    

 The financial condition of customers, clients and counterparties, including
other financial institutions, could adversely affect financial services         
issuers. Financial services issuers are interrelated as a result of market      
making, trading, clearing or other counterparty relationships. Many of these    
transactions expose financial services issuers to credit risk as a result of    
the actions of, or deterioration in, the commercial soundness of other          
counterparty financial institutions. Economic and market conditions may         
increase credit exposures due to the increased risk of customer, client or      
counterparty default. Downgrades to the credit ratings of financial services    
issuers could have a negative effect on liquidity, cash flows, competitive      
position, financial condition and results of operations by significantly        
limiting access to funding or capital markets, increasing borrowing costs or    
triggering increased collateral requirements. Financial services issuers face   
significant legal risk, both from regulatory investigations and proceedings, as 
well as private actions. Profit margins of these companies continue to shrink   
due to the commoditization of traditional businesses, new competitors, capital  
expenditures on new technology and the pressure to compete globally.            

Banks face competition from nontraditional lending sources as regulatory  
changes have permitted new entrants to offer various financial products.        
Technological advances allow these nontraditional lending sources to cut        
overhead and permit the more efficient use of customer data. Banks continue to  
face tremendous pressure from mutual funds, brokerage firms and other financial 
service providers in the competition to furnish services that were              
traditionally offered by banks. Bank profitability is largely dependent on the  
availability and cost of capital funds, and may fluctuate significantly when    
interest rates change or due to increased competition. Further, economic        
conditions in the real estate market may have a particularly strong effect on   
certain banks and savings associations. Declining real estate values could      
adversely affect financial institutions engaged in mortgage finance or other    
lending or investing activities directly or indirectly connected to the value   
of real estate.                                                                 

 Companies engaged in investment management and broker-dealer activities are
subject to volatility in their earnings and share prices that often exceed the  
volatility of the equity market in general. Adverse changes in the direction of 
the stock market, investor confidence, equity transaction volume, the level and 
direction of interest rates and the outlook of emerging markets could adversely 
affect the financial stability, as well as the stock prices, of these           
companies.                                                                      

Companies involved in the insurance, reinsurance and risk management      
industry underwrite, sell or distribute property, casualty and business         
insurance. Many factors affect insurance, reinsurance and risk management       
company profits, including interest rate movements, the imposition of premium   
rate caps, a misapprehension of the risks involved in given underwritings,      
competition and pressure to compete globally, terrorism, weather catastrophes   
or other disasters and the effects of client mergers. Individual companies may  
be exposed to risks including reserve inadequacy and the inability to collect   
from reinsurance carriers. Life and health insurance companies may be affected  
by mortality and morbidity rates, including the effect of epidemics. Insurance  
companies are subject to extensive governmental regulation, including the       
imposition of maximum rate levels, which may not be adequate for some lines of  
business. Insurance companies may be subject to severe price competition.       
Proposed or potential tax law changes may also adversely affect insurance       
companies' policy sales, tax obligations and profitability.                     

 Health Care Issuers. Your Trust may invest significantly in bonds issued by
health care companies. These issuers include companies involved in advanced     
medical devices and instruments, drugs and biotechnology, managed care,         
hospital management/health services and medical supplies. These companies face  
substantial government regulation and approval procedures. General risks of     
health care companies include extensive competition, product liability          
litigation and evolving government regulation.                                  

 On March 30, 2010, the Health Care and Education Reconciliation Act of 2010
(incorporating the Patient Protection and Affordable Care Act, collectively the 
"Act") was enacted into law. The Act continues to have a significant impact on  
the health care sector through the implementation of a number of reforms in a   
complex and ongoing process, with varying effective dates. Significant          
provisions of the Act include the introduction of required health care coverage 
for most Americans, significant expansion in the number of Americans eligible   
for Medicaid, modification of taxes and tax credits in the health care sector,  
and subsidized insurance for low to middle income families. The Act also        
provides for more thorough regulation of private health insurance providers,    
including a prohibition on the denial of coverage due to pre-existing           
conditions. Although the entirety of the Act will not come into effect until    
2018, in the interim, health care companies will face continuing and            
significant changes that may cause a decrease in profitability due to increased 
costs and changes in the health care market. The Sponsor is unable to predict   
the full impact of the Act on the Securities in your Trust.                     

As illustrated by the Act, Congress may from time to time propose         
legislative action that will impact the health care sector. The proposals may   
span a wide range of topics, including cost and price controls (which may       
include a freeze on the prices of prescription drugs), incentives for           
competition in the provision of health care services, promotion of pre-paid     
health care plans and additional tax incentives and penalties aimed at the      
health care sector. The government could also reduce funding for health care    
related research.                                                               

Drug and medical products companies also face the risk of increasing      
competition from new products or services, generic drug sales, product          
obsolescence, increased government regulation, termination of patent protection 
for drug or medical supply products and the risk that a product will never come 
to market. The research and development costs of bringing a new drug or medical 
product to market are substantial. This process involves lengthy government     
review with no guarantee of approval. These companies may have losses and may   
not offer proposed products for several years, if at all. The failure to gain   
approval for a new drug or product can have a substantial negative effect on a  
company and its stock. The goods and services of health care issuers are also   
subject to risks of malpractice claims, product liability claims or other       
litigation.                                                                     

Health care facility operators face risks related to demand for services, 
the ability of the facility to provide required services, an increased emphasis 
on outpatient services, confidence in the facility, management capabilities,    
competitive forces that may result in price discounting, efforts by insurers    
and government agencies to limit rates, expenses, the cost and possible         
unavailability of malpractice insurance, and termination or restriction of      
government financial assistance (such as Medicare, Medicaid or similar          
programs).                                                                      

 Industrials Issuers. Your Trust may invest significantly in bonds issued by
industrials companies. General risks of industrials companies include the       
general state of the economy, intense competition, imposition of import         
controls, volatility in commodity prices, currency exchange rate fluctuation,   
consolidation, labor relations, domestic and international politics, excess     
capacity and consumer spending trends. Companies in the industrials sector may  
be adversely affected by liability for environmental damage and product         
liability claims. Capital goods companies may also be significantly affected by 
overall capital spending and leverage levels, economic cycles, technical        
obsolescence, delays in modernization, limitations on supply of key materials,  
depletion of resources, government regulations, government contracts and        
e-commerce initiatives.                                                         

  Industrials companies may also be affected by factors more specific to their
individual industries. Industrial machinery manufacturers may be subject to     
declines in commercial and consumer demand and the need for modernization.      
Aerospace and defense companies may be influenced by decreased demand for new   
equipment, aircraft order cancellations, disputes over or ability to obtain or  
retain government contracts, changes in government budget priorities, changes   
in aircraft-leasing contracts and cutbacks in profitable business travel. The   
number of housing starts, levels of public and non-residential construction     
including weakening demand for new office and retail space, and overall         
construction spending may adversely affect construction materials and equipment 
manufacturers. Stocks of transportation companies are cyclical and can be       
significantly affected by economic changes, fuel prices and insurance costs.    
Transportation companies in certain countries may also be subject to            
significant government regulation and oversight, which may negatively impact    
their businesses.                                                               

Materials Issuers. Your Trust may invest significantly in bonds issued by 
companies in the materials industry. Companies in the materials sector could be 
adversely affected by commodity price volatility, exchange rates, import        
controls and increased competition. Production of materials often exceeds       
demand as a result of overbuilding or economic downturns, leading to poor       
investment returns. Companies in the materials sector are at risk for           
environmental damage and product liability claims. Companies in the materials   
sector may be adversely affected by depletion of resources, technical progress, 
labor relations, and governmental regulations.                                  

Telecommunications Issuers. Your Trust may invest significantly in bonds  
issued by telecommunications companies. This sector is primarily characterized  
by extensive government regulation and intense competition.                     

 Companies in the telecommunications industry allocate significant resources
in efforts to comply with applicable government regulations. Telecommunications 
companies operating in the U.S. must comply with applicable state and federal   
regulations, including those of the Federal Communications Commission. The      
costs of complying with governmental regulations, delays or failure to receive  
required regulatory approvals or the enactment of new adverse regulatory        
requirements may negatively affect the business of telecommunications           
companies. Recent industry consolidation trends may lead to increased           
regulation in primary markets. Internationally, telecommunications companies    
may face regulatory challenges such as securing pre-marketing clearance of      
products and prices, which may be arbitrary and unpredictable. U.S. federal and 
state governments regulate permitted rates of return and the kinds of services  
that a company may offer. U.S. federal legislation governing the                
telecommunications industry may become subject to judicial review and           
additional interpretation, which may adversely affect certain                   
telecommunications issuers.                                                     

The competitive landscape in the telecommunications sector is intense and 
constantly evolving. The products and services of these companies may become    
outdated very rapidly. A company's performance can be hurt if the company fails 
to keep pace with technological advances. At the same time, demand for some     
telecommunications services remains weak, as several key markets are            
oversaturated and many customers can choose between several service providers   
and technology platforms. To meet increasing competition, companies may have to 
commit substantial capital, particularly in the formulation of new products and 
services using new technologies. As a result, many companies have been          
compelled to cut costs by reducing their workforce, outsourcing, consolidating  
and/or closing existing facilities and divesting low selling product lines.     
Certain telecommunications companies may be engaged in fierce competition for a 
share of the market of their products and may have higher costs, including      
liabilities associated with the medical, pension and postretirement expenses of 
their workforce, than their competitors. As a result, competitive pressures are 
intense and the stocks are subject to rapid price volatility. Moreover,         
continued consolidation in this industry could create integration expenses and  
delay, and consequent management diversion of attention away from ongoing       
operations and related risks, among other factors, could result in the failure  
of these companies to realize expected cost savings or synergies.               

Several high-profile bankruptcies of large telecommunications companies in
the past have illustrated the potentially unstable condition of the             
telecommunications industry. High debt loads that were accumulated during the   
industry growth spurt of the 1990s caught up to the industry, causing debt and  
stock prices to trade at distressed levels for many telecommunications          
companies and increasing the cost of capital for needed additional investment.  
Furthermore, certain companies involved in the industry have also faced         
scrutiny for alleged accounting irregularities that may have led to the         
overstatement of their financial results, and other companies in the industry   
may face similar scrutiny. Moreover, some companies have begun the process of   
emerging from bankruptcy and may have reduced levels of debt and other          
competitive advantages over other telecommunications companies. Due to these    
and other factors, the risk level of owning the securities of                   
telecommunications companies remains substantial and may continue to rise.      

  Information Technology Issuers. Your Trust may invest significantly in bonds
issued by information technology companies. These companies include companies   
that are involved in computer and business services, enterprise                 
software/technical software, Internet and computer software, Internet-related   
services, networking and telecommunications equipment, telecommunications       
services, electronics products, server hardware, computer hardware and          
peripherals, semiconductor capital equipment and semiconductors. These          
companies face risks related to rapidly changing technology, rapid product      
obsolescence, cyclical market patterns, evolving industry standards and         
frequent new product introductions.                                             

Companies in this sector face risks from rapid changes in technology,     
competition, dependence on certain suppliers and supplies, rapid obsolescence   
of products or services, patent termination, frequent new products and          
government regulation. These companies can also be adversely affected by        
interruption or reduction in supply of components or loss of key customers and  
failure to comply with certain industry standards.                              

  An unexpected change in technology can have a significant negative impact on
a company. The failure of a company to introduce new products or technologies   
or keep pace with rapidly changing technology can have a negative impact on the 
company's results. Information technology companies may also be smaller and/or  
less experienced companies with limited product lines, markets or resources.    
Stocks of some Internet companies have high price-to-earnings ratios with       
little or no earnings histories. Information technology stocks tend to          
experience substantial price volatility and speculative trading. Announcements  
about new products, technologies, operating results or marketing alliances can  
cause stock prices to fluctuate dramatically. At times, however, extreme price  
and volume fluctuations are unrelated to the operating performance of a         
company. This can impact your ability to redeem your Units at a price equal to  
or greater than what you paid.                                                  

Energy Issuers. Your Trust may invest significantly in bonds issued by    
energy companies. Energy companies are subject to legislative or regulatory     
changes, adverse market conditions and/or increased competition affecting the   
energy sector. The prices of the securities of energy companies may fluctuate   
widely due to changes in value and dividend yield, which depend largely on the  
price and supply of energy fuels, international political events relating to    
oil producing countries including terrorist attacks, energy efficiency and      
conservation, natural disasters, the success of exploration projects, and tax   
and other governmental regulatory policies.                                     

Energy companies depend on their ability to find and acquire additional   
energy reserves. The exploration and recovery process involves significant      
operating hazards and can be very costly. An energy company has no assurance    
that it will find reserves or that any reserves found will be economically      
recoverable. The industry also faces substantial government regulation,         
including environmental regulation regarding air emissions and disposal of      
hazardous materials. These regulations have increased costs and limited         
production and usage of certain fuels. Furthermore, certain companies involved  
in the industry have also faced scrutiny for alleged accounting irregularities  
that may have led to the overstatement of their financial results, and other    
companies in the industry may face similar scrutiny.                            

 In addition, energy companies face risks related to political conditions in
oil producing regions (such as the Middle East), the actions of the             
Organization of Petroleum Exporting Countries (OPEC), the price and worldwide   
supply of oil and natural gas, the price and availability of alternative fuels, 
operating hazards, government regulation and the level of consumer demand.      
Political conditions of some oil producing regions have been unstable in the    
past. Political instability or war in these regions could have a negative       
impact on your investment. Oil and natural gas prices can be extremely volatile 
due to, for example, decreased demand as a result of increases in energy        
efficiency, success of exploration projects and clean-up and litigation costs   
due to oil spills or other environmental damage. OPEC controls a substantial    
portion of world oil production. OPEC may take actions to increase or suppress  
the price or availability of oil. Various domestic and foreign government       
authorities and international cartels also impact these prices. Any substantial 
decline in these prices could have an adverse effect on energy companies. Also, 
a decline in U.S. and Russian crude oil production may lead to a greater        
dependence on oil from OPEC nations.                                            

  Friction with certain oil producing countries and between the governments of
the United States and other major exporters of oil to the United States, can    
affect oil exports. Likewise, civil unrest in foreign, oil producing countries  
may also affect oil exports or the price of oil.                                

Utility Issuers. The Trust may invest significantly in bonds issued by    
utility companies or in companies related to the utility or energy industries.  
Many utility companies, especially electric and gas and other energy related    
utility companies, are subject to various uncertainties, including:             

o    Risks of increases in fuel and other operating costs;            

    o    Restrictions on operations and increased costs and delays as a result
of environmental, nuclear safety and other regulations;     

  o    Regulatory restrictions on the ability to pass increasing wholesale
costs along to the retail and business customer;            

o    Coping with the general effects of energy conservation;          

    o    Technological innovations which may render existing plants, equipment
or products obsolete;                                       

o    The effects of unusual, unexpected or abnormal local weather     

 o    Maturing markets and difficulty in expanding to new markets due to
regulatory and other factors;                               

o    The potential impact of natural or manmade disasters;            

 o    Difficulty obtaining adequate returns on invested capital, even if
       frequent rate increases are approved by public service commissions;

o    The high cost of obtaining financing during periods of inflation;

o    Difficulties of the capital markets in absorbing utility debt and
equity securities;                                          

o    Increased competition; and                                       

o    International politics.                                          

Any of these factors, or a combination of these factors, could affect the 
supply of or demand for energy, such as electricity or natural gas, or water,   
or the ability of the issuers to pay for such energy or water which could       
adversely affect the profitability of the issuers of the bonds and the          
performance of the Trust.                                                       

Utility companies are subject to extensive regulation at the federal level
in the United States, and many are regulated at the state level as well. The    
value of utility company stocks may decline because governmental regulation     
affecting the utilities industry can change. This regulation may prevent or     
delay the utility company from passing along cost increases to its customers,   
which could hinder the utility company's ability to meet its obligations to its 
suppliers and could lead to the taking of measures, including the acceleration  
of obligations or the institution of involuntary bankruptcy proceedings, by its 
creditors against such utility company. Furthermore, regulatory authorities,    
which may be subject to political and other pressures, may not grant future     
rate increases, or may impose accounting or operational policies, any of which  
could adversely affect a company's profitability and its stock price.           

Certain utility companies have experienced full or partial deregulation in
recent years. These utility companies are frequently more similar to industrial 
companies in that they are subject to greater competition and have been         
permitted by regulators to diversify outside of their original geographic       
regions and their traditional lines of business. These opportunities may permit 
certain utility companies to earn more than their traditional regulated rates   
of return. Some companies, however, may be forced to defend their core business 
and may be less profitable. While regulated providers tend to have regulated    
returns, non-regulated providers' returns are not regulated and generally are   
more volatile. These developments have reduced stability of cash flows in those 
states with non-regulated providers and could impact the short-term earnings    
potential of some in this industry. These trends have also made shares of some  
utility companies less sensitive to interest rate changes but more sensitive to 
changes in revenue and earnings and caused them to reduce the ratio of their    
earnings they pay out as dividends.                                             

Certain utilities companies face risks associated with the operation of   
nuclear facilities for electric generation, including, among other              
considerations, litigation, the problems associated with the use of radioactive 
materials and the effects of natural or man-made disasters. In general, certain 
utility companies may face additional regulation and litigation regarding their 
power plant operations, increased costs from new or greater regulation of these 
operations, and expenses related to the purchase of emissions control           
equipment.                                                                      

More About the Bonds. In addition to describing the purpose of the bonds, 
other information about the bonds is also included in the "Portfolio" and notes 
thereto. This information relates to other characteristics of the bonds. This   
section briefly describes some of these characteristics.                        

Original issue discount bonds were initially issued at a price below their
face (or par) value. These bonds typically pay a lower interest rate than       
comparable bonds that were issued at or above their par value. In a stable      
interest rate environment, the market value of these bonds tends to increase    
more slowly in early years and in greater increments as the bonds approach      
maturity. The issuers of these bonds may be able to call or redeem a bond       
before its stated maturity date and at a price less than the bond's par value.  

  Zero coupon bonds are a type of original issue discount bond. These bonds do
not pay any current interest during their life. If an investor owns this type   
of bond, the investor has the right to receive a final payment of the bond's    
par value at maturity. The price of these bonds often fluctuates greatly during 
periods of changing market interest rates compared to bonds that make current   
interest payments. The issuers of these bonds may be able to call or redeem a   
bond before its stated maturity date and at a price less than the bond's par    
value.                                                                          

  "When, as and if issued" bonds are bonds that trade before they are actually
issued. This means that the Sponsor can only deliver them to your Trust "when,  
as and if" the bonds are actually issued. Delivery of these bonds may be        
delayed or may not occur. Interest on these bonds does not begin accruing to    
your Trust until the Sponsor delivers the bond to the Trust. You may have to    
adjust your tax basis if the Sponsor delivers any of these bonds after the      
expected delivery date. Any adjustment would reflect interest that accrued      
between the time you purchased your Units and the delivery of the bonds to your 
Trust. This could lower your first year estimated current return. You may       
experience gains or losses on these bonds from the time you purchase Units even 
though your Trust has not yet received them.                                    

In order to acquire certain bonds, it may be necessary for the Sponsor or 
Trustee to pay amounts covering accrued interest on the bonds which exceed the  
amounts which will be made available through cash furnished by the Sponsor on   
the Date of Deposit. This cash may exceed the interest which would accrue to    
the First Settlement Date. The Trustee has agreed to pay for any amounts        
necessary to cover any excess and will be reimbursed when funds become          
available from interest payments on the related bonds. Also, since interest on  
any "when, as and if issued" bonds does not begin accruing to the benefit of    
Unitholders until the date of delivery, the Trustee may reduce its fee and pay  
Trust expenses in order to maintain or approach the same estimated net annual   
interest income during the first year of the Trust's operations as described    
under "Summary of Essential Financial Information".                             

 No FDIC Guarantee. An investment in your Trust is not a deposit of any bank
and is not insured or guaranteed by the Federal Deposit Insurance Corporation   
or any other government agency.                                                 

ESTIMATED CURRENT                                                               
AND LONG-TERM RETURNS                                                           
--------------------------------------------------------------------------------

The Estimated Current Return and the Estimated Long-Term Return as of the 
Date of Deposit are set forth under "Summary of Essential Financial             
Information". Estimated Current Return is calculated by dividing the estimated  
net annual interest income per Unit by the Public Offering Price. The estimated 
net annual interest income per Unit will vary with changes in the interest      
rates applicable to the bonds (some of which may be subject to adjustments      
related to changes in the bonds' ratings as provided by certain ratings         
services), fees and expenses of your Trust and with the principal prepayment,   
default (if any), redemption, maturity, exchange or sale of bonds. The Public   
Offering Price will vary with changes in the price of the bonds. Accordingly,   
there is no assurance that the present Estimated Current Return will be realized
in the future. Estimated Long-Term Return is calculated using a formula which   
(1) takes into consideration, and determines and factors in the relative        
weightings of, the market values, yields (which takes into account the          
amortization of premiums and the accretion of discounts) and estimated          
retirements of the bonds and (2) takes into account the expenses and sales      
charge associated with Units. Since the value and estimated retirements of the  
bonds and the expenses of your Trust will change, there is no assurance that the
present Estimated Long-Term Return will be realized in the future. The Estimated
Current Return and Estimated Long-Term Return are expected to differ because the
calculation of Estimated Long-Term Return reflects the estimated date and amount
of principal returned while the Estimated Current Return calculation includes   
only net annual interest income and Public Offering Price.                      

PUBLIC OFFERING                                                                 
--------------------------------------------------------------------------------

 General. Units are offered at the Public Offering Price. During the initial
offering period the Public Offering Price is based on the aggregate offering    
price of the bonds, the sales charge described below, cash, if any, in the      
Principal Account (including cash to pay organization costs) and accrued        
interest, if any. The maximum sales charge for a High Yield Trust is equal to   
2.95% of the Public Offering Price per Unit (3.04% of the aggregate offering    
price of the bonds). Organization costs are not included in the Public Offering 
Price per Unit for purposes of calculating the sales charge. After the initial  
public offering period, the secondary market Public Offering Price is based on  
the bid prices of the bonds, the sales charge described below, cash, if any, in 
the Principal Account and accrued interest, if any. The actual sales charge     
that may be paid by an investor may differ slightly from the sales charges      
shown herein due to rounding that occurs in the calculation of the Public       
Offering Price and in the number of Units purchased. The minimum purchase in    
the primary and secondary market is one Unit. Certain broker-dealers or selling 
firms may charge an order handling fee for processing Unit purchases.           

The maximum secondary market sales charge is computed as described in the 
following table based upon the estimated long-term return life in years ("ELTR  
Life") of your Trust's portfolio:                                               

ELTR Life (Years)    Sales Charge                                               
---------------------------------                                               
Less than 2              1.50%                                                  
2 but less than 4        2.00                                                   
4 but less than 6        3.00                                                   
6 but less than 8        3.50                                                   
8 but less than 11       4.00                                                   
11 but less than 15      4.50                                                   
15 and over              4.80                                                   

The ELTR Life represents the estimated life of the bonds in a Trust's     
portfolio as determined for purposes of calculating Estimated Long-Term Return. 
See "Estimated Current and Long-Term Returns". The sales charges in the above   
table are expressed as a percentage of the secondary market Public Offering     
Price per Unit. For example, the maximum secondary market sales charge for a    
Trust with an ELTR Life of "6 but less than 8" years would be 3.50% of the      
Public Offering Price per Unit (3.630% of the aggregate bid price of the        
bonds).                                                                         

 Reducing Your Sales Charge. The Sponsor offers a variety of ways for you to
reduce the sales charge that you pay. It is your financial professional's       
responsibility to alert the Sponsor of any discount when you purchase Units.    
Before you purchase Units you must also inform your broker-dealer of your       
qualification for any discount or of any combined purchases to be eligible for  
a reduced sales charge. As further described in this section, purchases         
executed on the same day by a single person at the same broker-dealer may be    
combined for sales charge discount calculation purposes. Secondary market       
purchases are excluded for purposes of sales charge discount calculations.      

  Large Quantity Purchases. You can reduce your sales charge by increasing the
size of your investment. Based upon the aggregate dollar amount of Units        
purchased by a Unitholder in the initial offering period, the following table   
shows both the corresponding sales charge and the concession or agency          
commission allowed to broker-dealers and other selling agents on such           
transaction.                                                                    

                           Broker-Dealer
       Sales Charge for    Concession or
      High Yield          Agency
Transaction Amount              Trusts          Commission                      
--------------------------------------------------------------                  
Less than $100,000               2.95%             2.10%                        
$100,000 - $249,999              2.60              1.80                         
$250,000 - $499,999              2.40              1.70                         
$500,000 - $999,999              2.20              1.50                         
$1,000,000 - $2,999,999          1.95              1.30                         
$3,000,000 - $4,999,999          1.70              1.10                         
$5,000,000 or more               1.50              0.90                         

Except as described below, these quantity discount levels apply only to   
purchases of a single Trust made by the same person on a single day from a      
single broker-dealer. Additional information regarding the broker-dealer        
concession or agency commission is presented in the "Unit Distribution"         
section.                                                                        

Aggregated Purchases-- For purposes of achieving these levels, you may    
combine certain purchases made on the same day through a single broker-dealer   
or selling agent, as further described below. You must inform your              
broker-dealer of any combined purchases before your purchase to be eligible for 
a reduced sales charge. For purposes of achieving the quantity discount levels  
in the above table, Units of a Trust offered in this prospectus may be combined 
with (i) purchases of units of any other Invesco-sponsored unit investment      
trusts during each trust's initial offering period, (ii) purchases of units     
made as described under the "Fee Accounts" paragraph in this section, and (iii) 
purchases of units eligible for the sales charge discounts described under the  
"Exchanges" paragraph in this section. In addition, Units purchased in the name 
of your spouse (or the equivalent if recognized under local law) or children    
(including step-children) under 21 living in the same household as you will be  
deemed to be additional purchases by you for the purposes of calculating the    
applicable quantity discount level. The reduced sales charge levels will also   
be applicable to a trustee or other fiduciary purchasing Units for a single     
trust, estate (including multiple trusts created under a single estate) or      
fiduciary account.                                                              

Fee Accounts. A portion of the sales charge is waived for certain accounts
described in this paragraph. Purchases by these accounts are subject only to    
the portion of the sales charge that is retained by the Sponsor. Please refer   
to the section called "Fee Accounts" for additional information on these        
purchases. Units may be purchased in the initial offering period at the Public  
Offering Price less the maximum applicable concession the Sponsor typically     
allows to brokers and dealers (either non-Underwriter or Underwriter            
concession, whichever is greater) for purchases by investors who purchase Units 
through registered investment advisers, certified financial planners and        
registered broker-dealers who in each case either charge periodic fees for      
brokerage services, financial planning, investment advisory or asset management 
services, or provide such services in connection with the establishment of an   
investment account for which a comprehensive "wrap fee" charge ("Wrap Fee") is  
imposed ("Fee Accounts") if the Units are purchased for a Fee Account and the   
Trust is subject to a Wrap Fee (i.e. the Trust is "Wrap Fee Eligible"). For     
example, with respect to a High Yield Trust, Wrap Fee Eligible purchasers would 
pay a sales charge of only 0.60%, which represents the maximum sales charge     
minus the maximum applicable concession of 2.35%. The Sponsor reserves the      
right to limit or deny purchases of Units described in this paragraph by        
investors or selling firms whose frequent trading activity is determined to be  
detrimental to a Trust. As described above in "Large Quantity Purchases", Units 
purchased for a Fee Account may be combined with certain other purchases for    
purposes of achieving the quantity discount levels presented in the table above 
under "Large Quantity Purchases", however, such Wrap Fee Eligible Units are not 
eligible for any sales charge discounts in addition to that which is described  
in this paragraph and under the "Fee Accounts" section found below.             

  Exchanges. During the initial offering period of a Trust, unitholders of any
Invesco-sponsored unit investment trust and unitholders of unaffiliated unit    
investment trusts may utilize their redemption or termination proceeds from     
such trusts to purchase Units of a High Yield Trust, or units of any other      
Invesco-sponsored unit investment trust in its initial offering period, at a    
reduced sales charge. For such purchases of less than $3,000,000, the sales     
charge will be reduced by 1.00% for Units of a High Yield Trust. For purchases  
of $3,000,000 or more, either made solely with redemption or termination        
proceeds from other unit investment trusts or in combination with other         
purchases as described above under "Large Quantity Purchases", High Yield Trust 
Units will be eligible for the applicable quantity discount level presented in  
the table that appears in that subsection. For aggregated purchases described   
above in the "Large Quantity Purchases" subsection that consist of any units    
other than High Yield Trust Units, please refer to the prospectus of the        
applicable Invesco-sponsored unit investment trust for information regarding    
the specified sales charge reductions on those units. In order to be eligible   
for the sales charge discounts applicable to Unit purchases made with           
redemption or termination proceeds from other unit investment trusts, the trade 
date of each rollover or redemption, or each other trust's termination date     
resulting in the receipt of such proceeds used to purchase Units of the Trust   
must all be derived from transactions that occurred within 30 calendar days     
prior to your Unit purchase. In addition, the discounts will only be available  
for investors that utilize the same broker-dealer (or a different broker-dealer 
with appropriate notification) for both the Unit purchase and the transaction   
resulting in the receipt of the termination or redemption proceeds used for the 
Unit purchase. You may be required to provide appropriate documentation or      
other information to your broker-dealer to evidence your eligibility for these  
reduced sales charge discounts. An exchange does not avoid a taxable event on   
the redemption or termination of an interest in a Trust.                        

Employees. Employees, officers and directors (including their spouses (or 
the equivalent if recognized under local law) and children or step-children     
under 21 living in the same household, parents or step-parents and trustees,    
custodians or fiduciaries for the benefit of such persons (collectively         
referred to herein as "related purchasers")) of Invesco Capital Markets, Inc.   
and its affiliates and, when permitted, Underwriters and their affiliates may   
purchase Units at the Public Offering Price less the applicable underwriting    
commission or less the applicable dealer concession in the absence of an        
underwriting commission. Employees, officers and directors (including related   
purchasers) of dealers and their affiliates may purchase Units at the Public    
Offering Price less the applicable dealer concession. All employee discounts    
are subject to the policies of the related selling firm. Only employees,        
officers and directors of companies that allow their employees to participate   
in this employee discount program are eligible for the discounts.               

Unit Price. The Public Offering Price of Units will vary from the amounts 
stated under "Summary of Essential Financial Information" in accordance with    
fluctuations in the prices of the bonds. The price of Units as of the opening of
business on the Date of Deposit was determined by adding the applicable sales   
charge and organization costs to the aggregate offering price of the bonds and  
dividing the sum by the number of Units outstanding. This price determination   
was made on the basis of an evaluation of the bonds prepared by the Evaluator.  
During the initial offering period, the Evaluator will value the bonds as of the
Evaluation Time on days the New York Stock Exchange is open for business and    
will adjust the Public Offering Price of Units accordingly. The "Evaluation     
Time" is the close of trading on the New York Stock Exchange on each day that   
the Exchange is open for regular trading, or earlier on days where the Bond     
Market Association recommends an early bond market close, provided, however, on 
the Date of Deposit the Evaluation Time will be the close of regular trading on 
the New York Stock Exchange or the time the registration statement filed with   
the Securities and Exchange Commission (the "SEC") becomes effective, if later. 
The secondary market Public Offering Price per Unit will be equal to the        
aggregate bid price of the bonds plus the applicable secondary market sales     
charge and dividing the sum by the number of Units outstanding. For secondary   
market purposes, this computation will be made by the Evaluator as of the       
Evaluation Time for each day on which any Unit is tendered for redemption and as
necessary. The offering price of bonds may be expected to range approximately   
from 0.125% to 1.50% more than the bid price. The Public Offering Price per Unit
will be effective for all orders received prior to the Evaluation Time on each  
business day. Orders received by the Sponsor prior to the Evaluation Time and   
orders received by authorized financial professionals prior to the Evaluation   
Time that are properly transmitted to the Sponsor by the time designated by the 
Sponsor, are priced based on the date of receipt. Orders received by the Sponsor
after the Evaluation Time, and orders received by authorized financial          
professionals after the Evaluation Time or orders received by such persons that 
are not transmitted to the Sponsor until after the time designated by the       
Sponsor, are priced based on the date of the next determined Public Offering    
Price per Unit provided they are received timely by the Sponsor on such date. It
is the responsibility of authorized financial professionals to transmit orders  
received by them to the Sponsor so they will be received in a timely manner.    

The aggregate price of the bonds is determined on the basis of the        
appropriate bid prices or offering prices, as described herein, (a) on the basis
of current market prices obtained from dealers or brokers who customarily deal  
in bonds comparable to those held by your Trust; (b) if these prices are not    
available, on the basis of current market prices for comparable bonds; (c) by   
causing the value of the bonds to be determined by others engaged in the        
practice of evaluation, quoting or appraising comparable bonds; or (d) by any   
combination of the above. Market prices of the bonds will generally fluctuate   
with changes in market interest rates.                                          

A person will become the owner of Units on the date of settlement provided
payment has been received. Cash, if any, made available to the Sponsor prior to 
the date of settlement for the purchase of Units may be used in the Sponsor's   
business and may be deemed to be a benefit to the Sponsor, subject to the       
limitations of the Securities Exchange Act of 1934.                             

Organization Costs. During the initial offering period, part of the Public
Offering Price represents an amount of cash deposited to pay the estimated      
costs incurred in establishing your Trust. These costs include the costs of     
preparing documents relating to the Trust (such as the registration statement,  
prospectus, trust agreement and legal documents), federal and state             
registration fees, the initial fees and expenses of the Trustee and the initial 
audit. Your Trust will reimburse us for these costs at the end of the initial   
offering period or after six months, if earlier. The value of your Units will   
decline when the Trust deducts these costs from the Trust assets.               

 Accrued Interest. Accrued interest is an accumulation of unpaid interest on
securities which generally is paid by the bonds semi-annually, although your    
Trust accrues interest daily. Because of this, your Trust always has an amount  
of interest earned but not yet collected by the Trustee. For this reason, with  
respect to sales settling after the First Settlement Date, the proportionate    
share of accrued interest to the settlement date is added to the Public         
Offering Price of Units. You will receive the amount of accrued interest paid   
on your Units on the next distribution date. In an effort to reduce the accrued 
interest which would have to be paid by Unitholders, the Trustee will advance   
the amount of accrued interest to the Sponsor as the Unitholder of record as of 
the First Settlement Date. Consequently, the accrued interest added to the      
Public Offering Price of Units will include only accrued interest from the      
First Settlement Date to the date of settlement, less any distributions from    
the Interest Account after the First Settlement Date. Because of the varying    
interest payment dates of the bonds, accrued interest at any point in time will 
be greater than the amount of interest actually received by your Trust and      
distributed to Unitholders. If you sell or redeem all or a portion of your      
Units, you will be entitled to receive your proportionate share of the accrued  
interest from the purchaser of your Units.                                      

 Unit Distribution. Units will be distributed to the public by Underwriters,
broker-dealers and others at the Public Offering Price, plus accrued interest.  
The Sponsor intends to qualify Units for sale in a number of states.            

High Yield Trust Concessions. During the initial offering period, the     
Sponsor and Underwriters will sell Units of High Yield Trusts to                
non-Underwriter broker-dealers and selling agents at the Public Offering Price  
(net of any sales charge discount) less the applicable gross concession or      
agency commission set forth in the "Broker-Dealer Concession or Agency          
Commission" column of the table under "Reducing Your Sales Charge -- Large      
Quantity Purchases". These breakpoints will be adjusted to take into            
consideration purchase orders stated in dollars which cannot be completely      
fulfilled due to the requirement that only whole Units be issued.               

  For initial offering period transactions involving unitholders of other unit
investment trusts who use their redemption or termination proceeds to purchase  
Units of a High Yield Trust, the regular concession or agency commission allowed
by the Sponsor to broker-dealers and other selling agents will amount to 1.30%  
for aggregated purchases of less than $3,000,000. For such aggregated purchases 
of $3,000,000 or more, the regular concession or agency commission will         
correspond to the amounts listed in the "Broker-Dealer Concession or Agency     
Commission" column of the table under "Reducing Your Sales Charge -- Large      
Quantity Purchases"                                                             

 Underwriters other than the Sponsor will sell Units to other broker-dealers
and selling agents at the Public Offering Price less a concession or agency     
commission not in excess of the maximum concession allowed to Underwriters by   
the Sponsor as described under "Sponsor and Underwriter Compensation" below.    

  Following the end of the initial offering period, any broker-dealer or other
selling agent who is not a Qualifying Broker-Dealer (as described below) will   
be entitled to receive an additional per Unit concession based on the following 
table corresponding to the aggregate number of Trust Units purchased from the   
Sponsor as of the end of the initial offering period.                           

Aggregate Number of Units    Additional                                         
Purchased from the Sponsor   Concession                                         
---------------------------------------                                         
250 - 999 Units                 0.10%                                           
1,000 Units - 2,999 Units       0.20%                                           
3,000 Units or more             0.25%                                           

Notwithstanding the concession amounts presented in the "Broker-Dealer    
Concession or Agency Commission" column of the table under "Reducing Your Sales 
Charge -- Large Quantity Purchases", broker-dealers and other selling agents    
who have not acted as Underwriters for the Trust that purchase 250 or more      
Units of a Trust from the Sponsor on the Date of Deposit ("Qualifying           
Broker-Dealers") will be allowed a concession or agency commission on all Units 
of a Trust purchased from the Sponsor throughout the initial offering period    
equal to the regular concession allowed to Underwriters described under         
"Sponsor and Underwriter Compensation" below. Further, Qualifying               
Broker-Dealers not receiving the maximum concession amount per Unit on the Date 
of Deposit may be eligible to receive an additional per Unit concession based   
upon the aggregate number of Trust Units purchased from the Sponsor as of the   
end of the initial offering period. Qualifying Broker Dealers having purchased  
less than 1,000 Units of the Trust from the Sponsor on the Date of Deposit will 
be entitled to an additional concession of 0.10% if the aggregate number of     
Trust Units purchased from the Sponsor as of the end of the initial offering    
period totals at least 1,000 Units but less than 3,000 Units, or an additional  
concession of 0.15% for totals of at least 3,000 Units. Qualifying Broker       
Dealers having purchased at least 1,000 Units but less than 3,000 Units of the  
Trust from the Sponsor on the Date of Deposit will be entitled to an additional 
concession of 0.05% if the aggregate number of Trust Units purchased from the   
Sponsor as of the end of the initial offering period totals at least 3,000      
Units.                                                                          

Regarding the additional per Unit concessions described above for both    
Qualifying Broker Dealers and for other broker-dealers or selling agents, these 
additional concessions will also be applied on a dollar basis utilizing an      
equivalent of $1,000 per Unit and will be applied on whichever basis is more    
favorable to the dealer firm or selling agent. Purchase orders stated in        
dollars which cannot be completely fulfilled due to the requirement that only   
whole Units be issued will be subject to the concession amount corresponding to 
the dollar amount of the purchase order, utilizing a $1,000 per Unit            
equivalent.                                                                     

 Concessions Based Upon Annual Sales. As described below, broker-dealers and
other selling agents may in certain cases be eligible for additional            
concessions based upon their annual eligible sales of all Invesco fixed income  
and equity unit investment trusts. Eligible sales include all units of any      
Invesco unit investment trust underwritten or purchased directly from Invesco   
during a trust's initial offering period. For purposes of the Volume Concession 
described below, trusts designated as either "Invesco Unit Trusts, Taxable      
Income Series" or "Invesco Unit Trusts, Municipal Series" are fixed income      
trusts, and trusts designated as "Invesco Unit Trusts Series" are equity        
trusts.                                                                         

Volume Concession-- In addition to the concessions or agency commissions  
described above, all broker-dealers and other selling firms (including          
Underwriters) will be eligible to receive additional compensation based on      
total initial offering period sales of all eligible Invesco unit investment     
trusts during the previous consecutive 12-month period through the end of the   
most recent month. The Volume Concession, as applicable to equity and fixed     
income trust units, is set forth in the following table:                        

   Volume Concession
    ----------------------
Total Sales            Equity Trust  Fixed Income                   
(in millions)             Units      Trust Units                    
-------------------------------------------------------                         
$25 but less than $100          0.050%        0.050%                            
$100 but less than $150         0.075         0.075                             
$150 but less than $250         0.100         0.100                             
$250 but less than $500         0.115         0.100                             
$500 but less than $750         0.125         0.100                             
$750 but less than $1,000       0.130         0.100                             
$1,000 but less than $1,500     0.135         0.100                             
$1,500 but less than $2,000     0.140         0.100                             
$2,000 but less than $3,000     0.150         0.100                             
$3,000 but less than $4,000     0.160         0.100                             
$4,000 but less than $5,000     0.170         0.100                             
$5,000 or more                  0.175         0.100                             

Broker-dealers and other selling firms will not receive the Volume        
Concession on the sale of units purchased in Fee Accounts, however, such sales  
will be included in determining whether a firm has met the sales level          
breakpoints set forth in the Volume Concession table above. Secondary market    
sales of all unit investment trusts are excluded for purposes of the Volume     
Concession. Eligible dealer firms and other selling agents include clearing     
firms that place orders with Invesco and provide Invesco with information with  
respect to the representatives who initiated such transactions. Eligible dealer 
firms and other selling agents will not include firms that solely provide       
clearing services to other broker-dealer firms or firms who place orders        
through clearing firms that are eligible dealers. We reserve the right to       
change the amount of the concessions or agency commissions from time to time.   
For a trust to be eligible for this additional compensation, the trust's        
prospectus must include disclosure related to this additional compensation.     

Additional Volume Concession Eligibility-- Underwriters, broker-dealers or
other selling firms having achieved $500 million in total eligible sales for    
the previous 12 month period through the end of the most recent month are       
eligible to receive an additional volume concession for each Trust Unit         
underwritten or purchased directly from the Sponsor on the initial Date of      
Deposit equal to the difference between the maximum allowable concession        
described under "Sponsor and Underwriter Compensation" and the per Unit         
concession applicable to each Trust Unit underwritten or purchased. Only Units  
acquired on the Date of Deposit may qualify for this additional per Unit volume 
concession, and Unit acquisitions made on subsequent days will be subject to    
the applicable levels as stated in the "Unit Distribution" and "Sponsor and     
Underwriter Compensation" sections. This additional per Unit volume concession  
will be payable either at the time the Units are acquired or following the end  
of the initial offering period, at the election of the recipient. With respect  
to any Units for which an Underwriter, broker-dealer or other selling firm      
receives this additional per Unit volume concession, such Units will not be     
eligible for additional per Unit concessions described under "High Yield Trust  
Concessions."                                                                   

Additional Information. Certain commercial banks may be making Units      
available to their customers on an agency basis. A portion of the sales charge  
paid by these customers (equal to the agency commission referred to above) is   
retained by or remitted to the banks. Any discount provided to investors will   
be borne by the selling dealer or agent. For secondary market transactions, the 
Sponsor will sell Units to broker-dealers and selling agents at the Public      
Offering Price less a concession or agency commission of 80% of the applicable  
sales charge. Dealers other than the Sponsor may sell Units in the secondary    
market to other broker-dealers and selling agents at the Public Offering Price  
less a concession or agency commission not in excess of the secondary market    
concession allowed to the dealer. Notwithstanding anything to the contrary      
herein, in no case shall the total of any concessions, agency commissions and   
any additional compensation allowed or paid to any broker, dealer or other      
distributor of Units with respect to any individual transaction exceed the      
maximum sales charge applicable to High Yield Trusts. The Sponsor reserves the  
right to reject, in whole or in part, any order for the purchase of Units and   
to change the amount of the concession or agency commission to dealers and      
others from time to time.                                                       

Sponsor and Underwriter Compensation. The Sponsor will sell Units to      
Underwriters at the regular Public Offering Price per Unit less a gross         
concession described in the sections below. For a list of the Underwriters that 
have purchased Units from the Sponsor, see "Underwriting".                      

The Sponsor will sell Units of High Yield Trusts to Underwriters at the   
regular Public Offering Price per Unit less the concession per Unit             
underwritten set forth in the following table.                                  

Underwriter             
Units                       Concession                                          
---------------------------------------                                         
250 - 999 Units                 2.20%                                           
1,000 Units - 2,999 Units       2.30%                                           
3,000 Units or more             2.35%                                           

 An Underwriter will be allowed a concession throughout the initial offering
period of a Trust equal to the Underwriter concession allowed to such firm on   
the Date of Deposit for Units subsequently purchased from the Sponsor. At the   
end of the initial offering period, an Underwriter not receiving the maximum    
concession amount per Unit on the Date of Deposit may be eligible to receive an 
additional per Unit concession based upon the aggregate number of Trust Units   
underwritten and subsequently purchased from the Sponsor as of the end of the   
initial offering period. Underwriters having underwritten less than 1,000 Units 
of the Trust will be entitled to an additional concession of 0.10% if the       
aggregate number of Trust Units underwritten and subsequently purchased from    
the Sponsor as of the end of the initial offering period totals at least 1,000  
Units but less than 3,000 Units, or an additional concession of 0.15% for       
totals of at least 3,000 Units. Underwriters having underwritten at least 1,000 
Units but less than 3,000 Units of the Trust will be entitled to an additional  
concession of 0.05% if the aggregate number of Trust Units underwritten and     
subsequently purchased from the Sponsor as of the end of the initial offering   
period totals at least 3,000 Units.                                             

The concessions for a) Units underwritten on the Date of Deposit, b) Units
purchased from the Sponsor by an Underwriter subsequent to the Date of Deposit  
during a Trust's initial offering period, and c) the additional per Unit        
concession for Underwriters will each also be applied on a dollar basis         
utilizing an equivalent of $1,000 per Unit and will be applied on whichever     
basis is more favorable to the Underwriter. Purchase orders stated in dollars   
which cannot be completely fulfilled due to the requirement that only whole     
Units be issued will be subject to the concession amount corresponding to the   
stated dollar amount of the purchase order, utilizing a $1,000 per Unit         
equivalent.                                                                     

 Any Underwriter which has achieved $500 million in total eligible sales for
the previous 12 month period through the end of the most recent month will be   
eligible to receive an additional per Unit volume concession as described under 
"Unit Distribution--Concessions Based Upon Annual Sales--Additional Volume      
Concession Eligibility".                                                        

In connection with Underwriter sales of Units to non-Underwriter          
broker-dealers and other selling agents which Units in turn are sold to         
investors in sufficient size to qualify for quantity discounts, in certain      
instances, the sum of the sales charge discount and the broker-dealer           
concession may exceed the concession allowed to the Underwriter. At the request 
of the Underwriter, the Sponsor may repurchase such Units at the Public         
Offering Price per Unit less the concession amount allowed to the Underwriter   
during the Trust's initial offering period, and subsequently resell those Units 
back to the Underwriter at the Public Offering Price per Unit less the          
applicable sales charge reduction per Unit and broker-dealer concession amounts 
listed in the table found under "Public Offering--Reducing Your Sales           
Charge--Large Quantity Purchases".                                              

In addition, the Sponsor and certain Underwriters will realize a profit or
loss, as a result of the difference between the price paid for the bonds by the 
Sponsor and the cost of the bonds to a Trust. See "Portfolio" and "Notes to     
Portfolio". The Sponsor and the Underwriters may also realize profits or losses 
with respect to bonds which were acquired by the Sponsor from underwriting      
syndicates of which they were members. The Sponsor has not participated as sole 
underwriter or as manager or as a member of the underwriting syndicates from    
which the bonds were acquired. Underwriters may further realize profit or loss  
during the initial offering period as a result of possible fluctuations in the  
market value of the bonds since all proceeds received from purchasers of Units  
(excluding dealer concessions or agency commissions allowed, if any) will be    
retained by the Underwriters. Affiliates of an Underwriter are entitled to the  
same dealer concessions or agency commissions that are available to the         
Underwriter. In addition to any other benefits Underwriters may realize from    
the sale of Units, the Sponsor will share with certain Underwriters a portion   
of any gain represented by the difference between the cost of the bonds to the  
Sponsor and the evaluation of the bonds on the Date of Deposit (less deductions 
for accrued interest and certain costs). For Underwriters who either (a)        
underwrite at least 3,000 Units or (b) submit an Underwriter purchase order of  
at least $3,000,000, the Sponsor will share 50% of that portion of the gain     
that relates to the Units actually underwritten by such Underwriters. For those 
Underwriters who either (a) underwrite at least 1,000 Units but less than 3,000 
Units or (b) submit an Underwriter purchase order of at least $1,000,000 but    
less than $3,000,000, the Sponsor will share 25% of that portion of the gain    
that relates to the Units actually underwritten by such Underwriters. The       
Sponsor and certain of the other Underwriters will also realize profits or      
losses in the amount of any difference between the price at which Units are     
purchased and the price at which Units are resold in connection with            
maintaining a secondary market for Units and will also realize profits or       
losses resulting from a redemption of repurchased Units at a price above or     
below the purchase price.                                                       

We may provide, at our own expense and out of our own profits, additional 
compensation and benefits to broker-dealers who sell Units of the Trust and our 
other products. This compensation is intended to result in additional sales of  
our products and/or compensate broker-dealers and financial advisors for past   
sales. We may make these payments for marketing, promotional or related         
expenses, including, but not limited to, expenses of entertaining retail        
customers and financial advisors, advertising, sponsorship of events or         
seminars, obtaining shelf space in broker-dealer firms and similar activities   
designed to promote the sale of the Trust and our other products. Fees may      
include payment for travel expenses, including lodging, incurred in connection  
with trips taken by invited registered representatives for meetings or seminars 
of a business nature. These arrangements will not change the price you pay for  
your Units.                                                                     

Market for Units. Although not obligated to do so, the Sponsor intends to,
and certain of the other Underwriters may, maintain a market for Units and      
offer to purchase Units at prices, subject to change at any time, based upon    
the aggregate bid prices of the bonds plus accrued interest and any principal   
cash on hand, less any amounts representing taxes or other governmental charges 
payable out of your Trust and less any accrued Trust expenses. If the supply of 
Units exceeds demand or if some other business reason warrants it, the Sponsor  
and/or the Underwriters may either discontinue all purchases of Units or        
discontinue purchases of Units at these prices. If a market is not maintained   
and the Unitholder cannot find another purchaser, a Unitholder will be able to  
dispose of Units by tendering them to the Trustee for redemption at the         
Redemption Price. See "Rights of Unitholders--Redemption of Units". A           
Unitholder who wishes to dispose of his Units should inquire of his broker as   
to current market prices in order to determine whether there is any price in    
excess of the Redemption Price and, if so, the amount thereof. The Trustee will 
notify the Sponsor of any tender of Units for redemption. If the Sponsor's bid  
in the secondary market at that time equals or exceeds the Redemption Price per 
Unit, it may purchase the Units not later than the day on which the Units would 
otherwise have been redeemed by the Trustee.                                    

FEE ACCOUNTS                                                                    
--------------------------------------------------------------------------------

 As described above, Units may be available for purchase by investors in Fee
Accounts where the Trust is Wrap Fee Eligible. You should consult your          
financial professional to determine whether you can benefit from these          
accounts. For these purchases you generally only pay the portion of the sales   
charge that is retained by your Trust's Sponsor, Invesco Capital Markets, Inc.  
You should consult the "Public Offering--Reducing Your Sales Charge" section    
for specific information on this and other sales charge discounts. That section 
governs the calculation of all sales charge discounts. The Sponsor reserves the 
right to limit or deny purchases of Units in Fee Accounts by investors or       
selling firms whose frequent trading activity is determined to be detrimental   
to a Trust.                                                                     

RIGHTS OF UNITHOLDERS                                                           
--------------------------------------------------------------------------------

Distributions of Interest and Principal. Interest received by a Trust, pro
rated on an annual basis, will be distributed monthly. The amount and time of   
the first distribution is described under "Summary of Essential Financial       
Information". In addition, a Trust that has elected to be structured as a       
"regulated investment company" for federal tax purposes may make additional     
required distributions at the end of each year.                                 

Interest received by a Trust, including that part of the proceeds of any  
disposition of bonds which represents accrued interest, is credited by the      
Trustee to the Interest Account. Other receipts are credited to the Principal   
Account. After deduction of amounts sufficient to reimburse the Trustee,        
without interest, for any amounts advanced and paid to the Sponsor as the       
Unitholder of record as of the First Settlement Date, interest received will be 
distributed on each distribution date to Unitholders of record as of the        
preceding record date. All distributions will be net of estimated expenses. The 
Trustee is not required to pay interest on funds held in the Principal or       
Interest Account (but may itself earn interest thereon and therefore benefits   
from the use of these funds). Should the amount available for distribution in   
the Principal Account equal or exceed $5.00 per Unit, the Trustee will make a   
distribution from the Principal Account on the next monthly distribution date   
to Unitholders of record on the related monthly record date. However, funds in  
the Principal Account will be distributed on the last distribution date of each 
calendar year to Unitholders of record as of the preceding record date if the   
amount available for distribution shall equal at least $1.00 per Unit.          

Because interest payments are not received by a Trust at a constant rate  
throughout the year and the interest rates on certain bonds in the Trust may    
adjust periodically, interest distributions may be more or less than the amount 
credited to the Interest Account as of the record date. For the purpose of      
minimizing fluctuations in interest distributions, the Trustee is authorized to 
advance amounts necessary to provide interest distributions of approximately    
equal amounts. The Trustee is reimbursed for these advances from funds in the   
Interest Account on the next record date. Persons who purchase Units between a  
record date and a distribution date will receive their first distribution on the
second distribution date after the purchase.                                    

Redemption of Units. All or a portion of your Units may be tendered to The
Bank of New York Mellon, the Trustee, for redemption at Unit Investment Trust   
Division, 111 Sanders Creek Parkway, East Syracuse, New York 13057, on any day  
the New York Stock Exchange is open. No redemption fee will be charged by the   
Sponsor or the Trustee, but you are responsible for applicable governmental     
charges, if any. Units redeemed by the Trustee will be canceled. You may redeem 
all or a portion of your Units by sending a request for redemption to your bank 
or broker-dealer through which you hold your Units. No later than three         
business days following satisfactory tender, the Unitholder will receive an     
amount for each Unit equal to the Redemption Price per Unit next computed after 
receipt by the Trustee of the tender of Units. The "date of tender" is deemed   
to be the date on which Units are received by the Trustee, except that as       
regards Units received after the Evaluation Time on days of trading on the New  
York Stock Exchange, the date of tender is the next day on which that Exchange  
is open and the Units will be deemed to have been tendered to the Trustee on    
that day for redemption at the Redemption Price. Redemption requests received   
by authorized financial professionals prior to the Evaluation Time that are     
properly transmitted to the Trustee by the time designated by the Trustee, are  
priced based on the date of receipt. Redemption requests received by the        
Trustee after the Evaluation Time, and redemption requests received by          
authorized financial professionals after the Evaluation Time or redemption      
requests received by such persons that are not transmitted to the Trustee until 
after the time designated by the Trustee, are priced based on the date of the   
next determined redemption price provided they are received timely by the       
Trustee on such date. It is the responsibility of authorized financial          
professionals to transmit redemption requests received by them to the Trustee   
so they will be received in a timely manner. Certain broker-dealers or selling  
firms may charge an order handling fee for processing redemption requests.      
Units redeemed directly through the Trustee are not subject to such fees.       

Under Internal Revenue Service (the "IRS") regulations, the Trustee is    
required to withhold a specified percentage of a Unit redemption if the Trustee 
has not received the Unitholder's tax identification number as required by such 
regulations or if the IRS notifies the Trustee that such withholding is         
required. Any amount withheld is transmitted to the IRS and may be recovered by 
the Unitholder only when filing a return or a claim for refund. Under normal    
circumstances the Trustee obtains the Unitholder's tax identification number    
from the selling broker. However, at any time a Unitholder elects to tender     
Units for redemption, the Unitholder should provide a tax identification number 
to the Trustee in order to avoid this possible "backup withholding".            

The Redemption Price per Unit (as well as the secondary market Public     
Offering Price) will be determined on the basis of the bid price of the bonds   
as of the Evaluation Time on days of trading on the New York Stock Exchange on  
the date any such determination is made. The Evaluator determines the           
Redemption Price per Unit on days Units are tendered for redemption. The        
Redemption Price per Unit is the pro rata share of each Unit on the basis of    
(i) the cash on hand in a Trust or moneys in the process of being collected,    
(ii) the value of the bonds based on the bid prices of the bonds, (iii) accrued 
interest, less (a) amounts representing taxes or other governmental charges and 
(b) the accrued Trust expenses. During the initial offering period, the         
Redemption Price and secondary market repurchase price are not reduced by       
estimated organization costs. The Evaluator may determine the value of the      
bonds by employing any of the methods set forth in "Public Offering--Unit       
Price". Accrued interest paid on redemption shall be withdrawn from the         
Interest Account or, if the balance therein is insufficient, from the Principal 
Account. All other amounts will be withdrawn from the Principal Account. Units  
so redeemed shall be cancelled.                                                 

The price at which Units may be redeemed could be less than the price paid
by the Unitholder and may be less than the par value of the bonds represented   
by the Units redeemed. The Trustee may sell bonds to cover redemptions. When    
bonds are sold, the size and diversity of your Trust will be reduced. Sales may 
be required at a time when bonds would not otherwise be sold and might result   
in lower prices than might otherwise be realized.                               

The Trustee reserves the right to satisfy any redemption of 1,000 or more 
Units with an aggregate redemption price of $1,000,000 or more in an in kind    
distribution of bonds. An in kind distribution of bonds will be made by the     
Trustee through the distribution of each of the bonds in the Trust in           
book-entry form to the account of the Unitholder's broker-dealer at Depository  
Trust Company. Amounts representing fractional portions of a bond will be       
distributed in cash. The Trustee may adjust the bonds included in a             
Unitholder's in kind distribution to facilitate the distribution of whole       
bonds. Special tax consequences will result if a Unitholder receives an in kind 
distribution.                                                                   

The right of redemption may be suspended and payment postponed for any    
period during which the New York Stock Exchange is closed, other than for       
customary weekend and holiday closings, or during which the SEC determines that 
trading on that Exchange is restricted or an emergency exists, as a result of   
which disposal or evaluation of the bonds is not reasonably practicable, or for 
other periods as the SEC may by order permit. Under certain extreme             
circumstances the Sponsor may apply to the SEC for an order permitting a full   
or partial suspension of the right of Unitholders to redeem their Units.        

Exchange Option. When you redeem Units of your Trust or when your Trust   
terminates, you may be able to exchange your Units for units of other Invesco   
unit trusts at a reduced sales charge. An exchange does not avoid a taxable     
disposition of your redeemed Units. You should contact your financial           
professional for more information about trusts currently available for          
exchanges. Before you exchange Units, you should read the prospectus of the new 
trust carefully and understand the risks and fees. You should then discuss this 
option with your financial professional to determine whether your investment    
goals have changed, whether current trusts suit you and to discuss tax          
consequences. We may discontinue this option at any time. The exchange will     
generally be treated as a sale and a taxable transaction for federal and state  
income tax purposes.                                                            

 Units. Ownership of Units is evidenced in book-entry form only and will not
be evidenced by certificates. Units purchased or held through your bank or      
broker-dealer will be recorded in book-entry form and credited to the account   
of your bank or broker-dealer at the Depository Trust Company ("DTC"). Units    
are transferable by contacting your bank or broker-dealer through which you     
hold your Units. Transfer, and the requirements therefore, will be governed by  
the applicable procedures of DTC and your agreement with the DTC participant in 
whose name your Units are registered on the transfer records of DTC.            

  Reports Provided. Unitholders will receive a statement of interest and other
receipts received for each distribution. For as long as the Sponsor deems it to 
be in the best interest of Unitholders, the accounts of your Trust will be      
audited annually by an independent registered public accounting firm and the    
report of the accountants will be furnished to Unitholders upon request. Within 
a reasonable period of time after the end of each year, the Trustee will        
furnish to each person who was a registered Unitholder during that year a       
statement describing the interest and principal received on the bonds, actual   
Trust distributions, Trust expenses, a list of the bonds and other Trust        
information. Unitholders will be furnished the Evaluator's evaluations of the   
bonds upon request to the Trustee. If you have questions regarding your account 
or your Trust, please contact your financial adviser or the Trustee. The        
Sponsor does not have access to individual account information.                 

TRUST ADMINISTRATION                                                            
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Sponsor. Invesco Capital Markets, Inc. is the Sponsor of your Trust. The  
Sponsor is a wholly owned subsidiary of Invesco Advisers, Inc. ("Invesco        
Advisers"). Invesco Advisers is an indirect wholly owned subsidiary of Invesco  
Ltd., a leading independent global investment manager that provides a wide      
range of investment strategies and vehicles to its retail, institutional and    
high net worth clients around the globe. The Sponsor's principal office is      
located at 11 Greenway Plaza, Houston, Texas 77046-1173. As of December 31,     
2014, the total stockholders' equity of Invesco Capital Markets, Inc. was       
$101,880,982.35 (unaudited). The current assets under management and            
supervision by Invesco Ltd. and its affiliates were valued at approximately     
$792.4 billion as of December 31, 2014.                                         

The Sponsor and your Trust have adopted a code of ethics requiring Invesco
Ltd.'s employees who have access to information on Trust transactions to report 
personal securities transactions. The purpose of the code is to avoid potential 
conflicts of interest and to prevent fraud, deception or misconduct with        
respect to your Trust. The Information Supplement contains additional           
information about the Sponsor. If we fail to or cannot perform our duties under 
the trust agreement or become bankrupt, the Trustee may appoint a new sponsor,  
continue to operate your Trust without a sponsor, or terminate your Trust and   
distribute the liquidation proceeds.                                            

Trustee. The Trustee is The Bank of New York Mellon, a trust company      
organized under the laws of New York. The Bank of New York Mellon has its       
principal unit investment trust division offices at 2 Hanson Place, 12th Floor, 
Brooklyn, New York 11217, telephone (800) 856-8487. If you have questions       
regarding your account or your Trust, please contact the Trustee at its         
principal unit investment trust division offices or your financial adviser. The 
Sponsor does not have access to individual account information. The Bank of New 
York Mellon is subject to supervision and examination by the Superintendent of  
Banks of the State of New York and the Board of Governors of the Federal        
Reserve System, and its deposits are insured by the Federal Deposit Insurance   
Corporation to the extent permitted by law. Additional information regarding    
the Trustee is set forth in the Information Supplement, including the Trustee's 
qualifications and duties, its ability to resign, the effect of a merger        
involving the Trustee and the Sponsor's ability to remove and replace the       
Trustee. See "Additional Information".                                          

Portfolio Administration. Your Trust is not a managed fund and, except as 
provided in the Trust Agreement, bonds generally will not be sold or replaced.  
The Sponsor may, however, direct that bonds be sold in certain limited          
situations to protect your Trust based on advice from the Supervisor. These     
situations may include default in interest or principal payments on the bonds   
or other obligations of an issuer, an advanced refunding or institution of      
certain legal proceedings. In addition, the Trustee may sell bonds designated   
by the Supervisor for purposes of redeeming Units or payment of expenses. The   
Supervisor will consider a variety of factors in designating bonds to be sold   
including interest rates, market value and marketability. Except in limited     
circumstances, the Trustee must reject any offer by an issuer to issue bonds in 
exchange or substitution for the bonds (such as a refunding or refinancing      
plan). The Trustee will promptly notify Unitholders of any exchange or          
substitution. The Information Supplement contains a more detailed description   
of circumstances in which bonds may be sold or replaced. See "Additional        
Information".                                                                   

  If a Trust is structured as a "regulated investment company" for federal tax
purposes, the Sponsor may direct the reinvestment of proceeds of the sale of    
bonds if the sale is the direct result of serious adverse credit factors which, 
in the opinion of the Sponsor, would make retention of the bonds detrimental to 
the Trust. In such a case, the Sponsor may, but is not obligated to, direct the 
reinvestment of sale proceeds in any other securities that meet the criteria    
for inclusion in the trust on the Date of Deposit. The Sponsor may also         
instruct the Trustee to take action necessary to ensure that such a Trust       
continues to satisfy the qualifications of a regulated investment company and   
to avoid imposition of tax on undistributed income of the Trust.                

Replacement Bonds. No assurance can be given that a Trust will retain its 
present size or composition because bonds may be sold, redeemed or mature from  
time to time and the proceeds will be distributed to Unitholders and will not   
be reinvested. In the event of a failure to deliver any bond that has been      
purchased under a contract ("Failed Bonds"), the Sponsor is authorized under    
the Trust Agreement to direct the Trustee to acquire other bonds ("Replacement  
Bonds") to make up the original portfolio of a Trust. Replacement Bonds must be 
purchased within 20 days after delivery of the notice of the failed contract    
and the purchase price (exclusive of accrued interest) may not exceed the       
amount of funds reserved for the purchase of the Failed Bonds. The Replacement  
Bonds must (i) be bonds, debentures, notes or other straight debt obligations   
(whether secured or unsecured and whether senior or subordinated) without       
equity or other conversion features, with fixed maturity dates substantially    
the same as those of the Failed Bonds having no warrants or subscription        
privileges attached; (ii) be payable in United States currency; (iii) not be    
when, as and if issued obligations or restricted securities; and (iv) be issued 
or guaranteed by an issuer subject to or exempt from the reporting requirements 
under Section 13 or 15(d) of the Securities Exchange Act of 1934 (or similar    
provisions of law) or guaranteed, directly or indirectly, by means of a lease   
agreement, agreement to buy securities, services or products, or other similar  
commitment of the credit of such an issuer to the payment of the substitute     
bonds. The Trustee shall notify all Unitholders of a Trust within five days     
after the acquisition of a Replacement Bond and shall make a pro rata           
distribution of the amount, if any, by which the cost of the Failed Bond        
exceeded the cost of the Replacement Bond plus accrued interest. If Failed      
Bonds are not replaced, the Sponsor will refund the sales charge attributable   
to the Failed Bonds to all Unitholders of a Trust and distribute the principal  
and accrued interest (at the coupon rate of the Failed Bonds to the date of     
removal from the Trust) attributable to the Failed Bonds within 30 calendar     
days after removal. If Failed Bonds are not replaced, the Estimated Net Annual  
Interest Income per Unit would be reduced and the Estimated Current Return and  
Estimated Long-Term Return might be lowered. Unitholders may not be able to     
reinvest their proceeds in other securities at a yield equal to or in excess of 
the yield of the Failed Bonds.                                                  

Amendment of Trust Agreement. The Sponsor and the Trustee may amend the   
Trust Agreement without the consent of Unitholders to correct any provision     
which may be defective or to make other provisions that will not materially     
adversely affect the interest of the Unitholders (as determined in good faith   
by the Sponsor and the Trustee). The Trust Agreement may not be amended to      
increase the number of Units or to permit the acquisition of bonds in addition  
to or in substitution for any of the bonds initially deposited in a Trust,      
except for the substitution of certain refunding bonds. The Trustee will notify 
Unitholders of any amendment.                                                   

 Termination of Trust Agreement. A Trust will terminate upon the redemption,
sale or other disposition of the last bond held in the Trust. A Trust may also  
be terminated at any time by consent of Unitholders of 75% of the Units then    
outstanding or by the Trustee when the value of the Trust is less than 20% of   
the original principal amount of bonds. A Trust will be liquidated by the       
Trustee in the event that a sufficient number of Units of the Trust not yet     
sold are tendered for redemption by the Sponsor, so that the net worth of the   
Trust would be reduced to less than 40% of the value of the Securities at the   
time they were deposited in the Trust. The Trustee will notify each Unitholder  
of any termination within a reasonable time and will then liquidate any         
remaining bonds. The sale of bonds upon termination may result in a lower       
amount than might otherwise be realized if the sale was not required at that    
time. For this reason, among others, the amount realized by a Unitholder upon   
termination may be less than the principal amount of bonds per Unit or value at 
the time of purchase. The Trustee will distribute to each Unitholder his share  
of the balance of the Interest and Principal Accounts after deduction of costs, 
expenses or indemnities. The Unitholder will receive a final distribution       
statement with this distribution. When the Trustee in its sole discretion       
determines that any amounts held in reserve are no longer necessary, it will    
distribute these amounts to Unitholders. The Information Supplement contains    
further information regarding termination of a Trust. See "Additional           
Information".                                                                   

Limitation on Liabilities. The Sponsor, Supervisor, Evaluator and Trustee 
shall be under no liability to Unitholders for taking any action or for         
refraining from taking any action in good faith pursuant to the Trust           
Agreement, or for errors in judgment, but shall be liable only for their own    
willful misfeasance, bad faith or gross negligence (negligence in the case of   
the Trustee) in the performance of their duties or by reason of their reckless  
disregard of their obligations and duties hereunder. The Trustee shall not be   
liable for depreciation or loss incurred by reason of the sale by the Trustee   
of any of the bonds. In the event of the failure of the Sponsor to act under    
the Trust Agreement, the Trustee may act thereunder and shall not be liable for 
any action taken by it in good faith under the Trust Agreement. The Trustee is  
not liable for any taxes or governmental charges imposed on the bonds, on it as 
Trustee under the Trust Agreement or on a Trust which the Trustee may be        
required to pay under any present or future law of the United States of America 
or of any other taxing authority having jurisdiction. In addition, the Trust    
Agreement contains other customary provisions limiting the liability of the     
Trustee. The Trustee and Sponsor may rely on any evaluation furnished by the    
Evaluator and have no responsibility for the accuracy thereof. Determinations   
by the Evaluator shall be made in good faith upon the basis of the best         
information available to it; provided, however, that the Evaluator shall be     
under no liability to the Trustee, Sponsor or Unitholders for errors in         
judgment.                                                                       

FEDERAL TAX STATUS                                                              
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This section summarizes some of the principal U.S. federal income tax     
consequences of owning Units of a Trust as of the date of this prospectus. Tax  
laws and interpretations are subject to change, and this summary does not       
describe all of the tax consequences to all taxpayers. For example, except as   
specifically provided below, this summary generally does not describe your      
situation if you are a corporation, a non-U.S. person, a broker/dealer, a       
tax-exempt entity, financial institution, person who marks to market their      
Units or other investor with special circumstances. In addition, this section   
does not describe your alternative minimum, state, local or foreign tax         
consequences. Depending on the terms of certain bond issuances, however, some   
of the bonds in the Trust may be exempt from state and local taxes of the state 
in which such bonds were issued. Please consult with your tax advisor with      
respect to any specific state or local tax consequences.                        

  This federal income tax summary is based in part on the advice of counsel to
the Sponsor. The IRS could disagree with any conclusions set forth in this      
section. In addition, our counsel was not asked to review the federal income    
tax treatment of the assets to be deposited in the Trust. Additional            
information on taxes is contained in the Information Supplement.                

As with any investment, you should seek advice based on your individual   
circumstances from your own tax advisor.                                        

Trust Status. The Trust intends to elect and to qualify annually as a     
"regulated investment company" under the federal tax laws. If the Trust         
qualifies as a regulated investment company and distributes its income as       
provided in the tax law, the Trust generally will not pay federal income        
taxes.                                                                          

Distributions. Trust distributions are generally taxable to you. After the
end of each year, you will receive a tax statement that specifies your amount   
of ordinary income distributions and capital gains dividends.                   

  Ordinary income distributions are generally taxed at your ordinary tax rate.
Generally, you will treat all capital gains dividends as long-term capital      
gains regardless of how long you have owned your shares. In addition, the Trust 
may make distributions that represent a return of capital for tax purposes and  
thus will generally not be taxable to you. The tax status of your distributions 
from your Trust is not affected by whether you reinvest your distributions in   
additional shares or receive them in cash. The income from your Trust that you  
must take into account for federal income tax purposes is not reduced by        
amounts used to pay a deferred sales charge, if any. The tax laws may require   
you to treat certain distributions made to you in January as if you had         
received them on December 31 of the previous year.                              

A distribution paid by your Trust reduces the Trust's net asset value per 
Unit on the date paid by the amount of the distribution. Accordingly, a         
distribution paid shortly after a purchase of Units by a Unitholder would be    
subject to income tax even though it may be viewed, in substance, as a partial  
return of capital.                                                              

Dividends Received Deduction and Qualified Dividend Income. A corporation 
that owns Units generally will not be entitled to the dividends received        
deduction with respect to dividends received from the Trust because the         
dividends received deduction is generally not available for distributions from  
regulated investment companies that do not invest in stock. An individual that  
owns Units generally will not be entitled to treat Trust distributions as       
qualified dividend income currently taxed at long-term capital gains rates, as  
it is not expected that Trust distributions will be attributable to qualified   
dividend income received by the Trust.                                          

Sale or Redemption of Units. If you sell or redeem your Units, you will   
generally recognize a taxable gain or loss. To determine the amount of this     
gain or loss, you must subtract your adjusted tax basis in your Units from the  
amount you receive in the transaction. Your initial tax basis in your Units is  
generally equal to the cost of your Units, generally including sales charges.   
In some cases, however, you may have to adjust your tax basis after you         
purchase your Units.                                                            

Capital Gains and Losses. If you are an individual, the maximum marginal  
federal tax rate for net capital gain under current law is generally 20%.       

Net capital gain equals net long-term capital gain minus net short term   
capital loss for the taxable year. Capital gain or loss is long term if the     
holding period for the asset is more than one year and is short-term if the     
holding period for the asset is one year or less. You must exclude the date you 
purchase your Units to determine your holding period. However, if you receive a 
capital gain dividend from your Trust and sell your Unit at a loss after        
holding it for six months or less, the loss will be recharacterized as          
long-term capital loss to the extent of the capital gain dividend received. The 
tax rates for capital gains realized from assets held for one year or less are  
generally the same as for ordinary income.                                      

Exchanges. If you elect to have your proceeds from your Trust rolled over 
into a future series of the Trust, the exchange would generally be considered a 
sale and a taxable transaction for federal income tax purposes. In general, any 
gain on the sale will be treated as capital gain and any loss will be treated   
as capital loss. However, any loss realized on a sale or exchange will be       
disallowed to the extent that Units disposed of are replaced within a period of 
61 days beginning 30 days before and ending 30 days after the disposition of    
Units or to the extent that the Unitholder, during such period, acquires or     
enters into an option or contract to acquire substantially identical stock or   
securities. In such a case, the basis of the Units acquired will be adjusted to 
reflect the disallowed loss.                                                    

In-Kind Distributions. Under certain circumstances, as described in this  
prospectus, you may receive an in-kind distribution of Trust Assets when you    
redeem your Units. In general, this distribution will be treated as a sale for  
federal income tax purposes and you will recognize gain or loss, based on the   
value at that time of the securities and the amount of cash received, and       
subject to certain limitations on the deductibility of losses under the tax     
rules.                                                                          

Deductibility of Trust Expenses. Expenses incurred and deducted by your   
Trust will generally not be treated as income taxable to you. In some cases,    
however, you may be required to treat your portion of these Trust expenses as   
income. In these cases you may be able to take a deduction for these expenses.  
However, certain miscellaneous itemized deductions, such as investment          
expenses, may be deducted by individuals only to the extent that all of these   
deductions exceed 2% of the individual's adjusted gross income. Such deductions 
may be subject to limitation for taxpayers whose income exceeds certain         
levels.                                                                         

Foreign Investors. If you are a foreign investor (i.e., an investor other 
than a U.S. citizen or resident or a U.S. corporation, partnership, estate or   
trust), you should be aware that, generally, subject to applicable tax          
treaties, distributions from the Trust will be characterized as dividends for   
federal income tax purposes (other than dividends which the Trust reports as    
capital gain dividends) and will generally be subject to U.S. income taxes,     
including withholding taxes, subject to certain exceptions. However             
distributions received by a foreign investor from the Trust that are properly   
reported by the Trust as capital gain dividends may not be subject to U.S.      
federal income taxes, including withholding taxes, provided that the Trust      
makes certain elections and certain other conditions are met. Distributions     
received by a foreign investor attributable to interest-related dividends of a  
regulated investment company such as the Trust may not be subject to U.S.       
federal income tax withholding. The amount of distributions that may be         
reported as interest-related dividends will be limited to the amount of         
qualified net interest income, which is generally the Trust's U.S.-source       
interest income less allocable expenses.                                        

The Foreign Account Tax Compliance Act ("FATCA"). A 30% withholding tax on
your Trust's distributions, including capital gains distributions, and on gross 
proceeds from the sale or other disposition of Units generally applies if paid  
to a foreign entity unless: (i) if the foreign entity is a "foreign financial   
institution" as defined under FATCA, the foreign entity undertakes certain due  
diligence, reporting, withholding, and certification obligations, (ii) if the   
foreign entity is not a "foreign financial institution," it identifies certain  
of its U.S. investors or (iii) the foreign entity is otherwise excepted under   
FATCA. Pursuant to the rules above and the applicability of any                 
intergovernmental agreements between the United States and the relevant foreign 
country, withholding under FATCA is required: (i) with respect to distributions 
from your Trust and (ii) with respect to certain capital gains distributions    
and gross proceeds from a sale or disposition of Units that occur on or after   
January 1, 2017. If withholding is required under FATCA on a payment related to 
your Units, investors that otherwise would not be subject to withholding (or    
that otherwise would be entitled to a reduced rate of withholding) on such      
payment generally will be required to seek a refund or credit from the IRS to   
obtain the benefit of such exemption or reduction. Your Trust will not pay any  
additional amounts in respect of amounts withheld under FATCA. You should       
consult your tax advisor regarding the effect of FATCA based on your individual 
circumstances.                                                                  

  Backup Withholding. By law, your Trust must withhold as backup withholding a
percentage (currently 28%) of your taxable distributions and redemption         
proceeds if you do not provide your correct social security or taxpayer         
identification number and certify that you are not subject to backup            
withholding, or if the IRS instructs your Trust to do so.                       

Investors Should Consult Their Tax Advisors. Investors in the Trust may be
subject to federal, state, local, or foreign taxes in connection with their     
investment in the Trust. Investors are encouraged to consult their own tax      
advisors regarding the specific federal, state, local, and foreign tax          
consequences that may affect them as a result of an investment in the Trust.    

EXPENSES                                                                        
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  General. The Trustee will periodically deduct from the Interest Account and,
to the extent funds are not sufficient therein, from the Principal Account,     
amounts necessary to pay the expenses of the Trusts, provided that organization 
costs are generally paid out of cash deposited in the Principal Account. The    
Trustee also may withdraw from these Accounts such amounts, if any, as it deems 
necessary to establish a reserve for any governmental charges payable out of    
the Trusts. Amounts so withdrawn shall not be considered a part of a Trust's    
assets until such time as the Trustee shall return all or any part of such      
amounts to the appropriate Accounts.                                            

  Organization Costs. You and the other Unitholders will bear all or a portion
of the organization costs and charges incurred in connection with the           
establishment of your Trust. These costs and charges will include the cost of   
the preparation, printing and execution of the trust agreement, registration    
statement and other documents relating to your Trust, federal and state         
registration fees and costs, the initial fees and expenses of the Trustee, and  
legal and auditing expenses. The Public Offering Price of Units includes the    
estimated amount of these costs. The Trustee will deduct these expenses from    
your Trust's assets at the end of the initial offering period or after six      
months, if earlier.                                                             

 Sponsor, Supervisor, Evaluator and Trustee. The Sponsor and the Supervisor,
which is an affiliate of the Sponsor, will receive the annual fee indicated     
under "Summary of Essential Financial Information" for providing bookkeeping    
and administrative services and for providing portfolio supervisory services    
for the Trusts. These fees may exceed the actual costs of providing these       
services for a Trust but the total amount received for providing these services 
to all Invesco unit investment trusts will not exceed the total cost of         
providing the services in any calendar year. The Evaluator will receive the     
annual evaluation fee indicated under "Summary of Essential Financial           
Information" for evaluating each Trust's portfolio. For its services the        
Trustee will receive the fee indicated under "Summary of Essential Financial    
Information" (which may be reduced as described therein). Part of the Trustee's 
compensation for its services is expected to result from the use of the funds   
being held in the Principal and Interest Accounts for future distributions,     
payment of expenses and redemptions since these Accounts are non-interest       
bearing to Unitholders. These fees are based on the outstanding principal       
amount of bonds and Units on the Date of Deposit for the first year and as of   
the close of business on January 1 for each year thereafter. The Sponsor's,     
Supervisor's, Evaluator's and Trustee's fees may be increased without approval  
of the Unitholders by amounts not exceeding proportionate increases under the   
category "Services Less Rent of Shelter" in the Consumer Price Index for All    
Urban Consumers or, if this category is not published, in a comparable          
category.                                                                       

Miscellaneous Expenses. The following additional charges are or may be    
incurred by the Trusts: (a) fees of the Trustee for extraordinary services, (b) 
expenses of the Trustee (including legal and auditing expenses) and of counsel  
designated by the Sponsor, (c) various governmental charges, (d) expenses and   
costs of any action taken by the Trustee to protect the Trusts and the rights   
and interests of Unitholders, (e) indemnification of the Trustee for any loss,  
liability or expenses incurred by it in the administration of the Trusts        
without negligence, bad faith or willful misconduct on its part, (f) any        
special custodial fees payable in connection with the sale of any of the bonds  
in a Trust, (g) expenditures incurred in contacting Unitholders upon            
termination of the Trusts and (h) costs incurred to reimburse the Trustee for   
advancing funds to the Trusts to meet scheduled distributions (which costs may  
be adjusted periodically in response to fluctuations in short-term interest     
rates). Each Trust will pay the costs associated with updating its registration 
statement each year. The fees and expenses set forth herein are payable out of  
the Trusts. When such fees and expenses are paid by or owing to the Trustee,    
they are secured by a lien on the portfolio of the applicable Trust. If the     
balances in the Interest and Principal Accounts are insufficient to provide for 
amounts payable by a Trust, the Trustee has the power to sell bonds to pay such 
amounts.                                                                        

DESCRIPTION OF RATINGS                                                          
--------------------------------------------------------------------------------

Standard & Poor's, A Division of the McGraw-Hill Companies. A Standard &  
Poor's long-term debt obligation credit rating is a current opinion of the      
creditworthiness of an obligor with respect to a specific debt obligation. This 
opinion of creditworthiness may take into consideration the creditworthiness of 
guarantors, insurers or other forms of credit enhancement on the obligation.    

The long-term debt obligation credit ratings are not a recommendation to  
purchase, sell or hold the debt obligation, inasmuch as they do not comment as  
to market price or suitability for a particular investor.                       

The long-term debt obligation credit ratings are based on current         
information furnished by the obligor or obtained by Standard & Poor's from      
other sources it considers reliable. Standard & Poor's does not perform an      
audit in connection with any credit rating and may, on occasion, rely on        
unaudited financial information. Credit ratings may be changed, suspended or    
withdrawn as a result of changes in, or unavailability of, such information, or 
based on other circumstances.                                                   

The long-term debt obligation credit ratings are based, in varying degrees, on  
the following considerations:                                                   

     I.   Likelihood of payment--capacity and willingness of the obligor to meet
          its financial commitment on an obligation in accordance with the terms
of the obligation.                                          

II.  Nature of and provisions of the obligation.                      

  III. Protection afforded by, and relative position of, the obligation in
          the event of bankruptcy, reorganization or other arrangement under the
  laws of bankruptcy and other laws affecting creditors' rights.

The credit rating definitions are expressed in terms of default risk. As  
such, they pertain to senior obligations of an entity. Junior obligations are   
typically rated lower than senior obligations to reflect the lower priority in  
bankruptcy, as noted above. (Such differentiation applies when an entity has    
both senior and subordinate obligations, secured and unsecured obligations or   
operating company and holding company obligations.) Accordingly, in the case of 
junior debt, the rating may not conform exactly with the category definition.   

  AAA--An obligation rated "AAA" has the highest rating assigned by Standard &
Poor's. The obligor's capacity to meet its financial commitment on the          
obligation is extremely strong.                                                 

  AA--An obligation rated "AA" differs from the highest-rated obligations only
in small degree. The obligor's capacity to meet its financial commitment on the 
obligation is very strong.                                                      

   A--An obligation rated "A" is somewhat more susceptible to adverse effects of
changes in circumstances and economic conditions than obligations in            
higher-rated categories. However, the obligor's capacity to meet its financial  
commitment on the obligation is still strong.                                   

BBB--An obligation rated "BBB" exhibits adequate protection parameters.   
However, adverse economic conditions or changing circumstances are more likely  
to lead to a weakened capacity of the obligor to meet its financial commitment  
on the obligation.                                                              

Obligations rated "BB," "B," "CCC," "CC" and "C" are regarded as having   
significant speculative characteristics. "BB" indicates the least degree of     
speculation and "C" the highest. While such obligations will likely have some   
quality and protective characteristics, these may be outweighed by large        
uncertainties or major exposures to adverse conditions.                         

BB--An obligation rated 'BB' is less vulnerable to nonpayment than other  
speculative issues. However, it faces major ongoing uncertainties or exposure to
adverse business, financial, or economic conditions which could lead to the     
obligor's inadequate capacity to meet its financial commitment on the           
obligation.                                                                     

  B--An obligation rated 'B' is more vulnerable to nonpayment than obligations
rated 'BB', but the obligor currently has the capacity to meet its financial    
commitment on the obligation. Adverse business, financial, or economic          
conditions will likely impair the obligor's capacity or willingness to meet its 
financial commitment on the obligation.                                         

  CCC--An obligation rated 'CCC' is currently vulnerable to nonpayment, and is
dependent upon favorable business, financial, and economic conditions for the   
obligor to meet its financial commitment on the obligation. In the event of     
adverse business, financial, or economic conditions, the obligor is not likely  
to have the capacity to meet its financial commitment on the obligation.        

CC--An obligation rated 'CC' is currently highly vulnerable to nonpayment.

C--A 'C' rating is assigned to obligations that are currently highly      
vulnerable to nonpayment, obligations that have payment arrearages allowed by   
the terms of the documents, or obligations of an issuer that is the subject of a
bankruptcy petition or similar action which have not experienced a payment      
default. Among others, the 'C' rating may be assigned to subordinated debt,     
preferred stock or other obligations on which cash payments have been suspended 
in accordance with the instrument's terms or when preferred stock is the subject
of a distressed exchange offer, whereby some or all of the issue is either      
repurchased for an amount of cash or replaced by other instruments having a     
total value that is less than par.                                              

  Plus (+) or Minus (-): The ratings from "AA" to "CCC" may be modified by the
addition of a plus or minus sign to show relative standing within the major     
rating categories.                                                              

NR--This indicates that no rating has been requested, that there is       
insufficient information on which to base a rating or that Standard & Poor's    
does not rate a particular obligation as a matter of policy.                    

  Moody's Investors Service. General long-term rating scale. Moody's long-term
obligation ratings are opinions of the relative credit risk of fixed-income     
obligations with an original maturity of one year or more. They address the     
possibility that a financial obligation will not be honored as promised. Such   
ratings reflect both the likelihood of default and any financial loss suffered  
in the event of default.                                                        

   Aaa--Obligations rated 'Aaa' are judged to be of the highest quality, subject
to the lowest level of credit risk.                                             

 Aa--Obligations rated 'Aa' are judged to be of high quality and are subject
to very low credit risk.                                                        

   A--Obligations rated 'A' are considered upper-medium grade and are subject to
low credit risk.                                                                

Baa--Obligations rated 'Baa' are judged to be medium-grade and subject to 
moderate credit risk and as such may possess certain speculative                
characteristics.                                                                

Ba--Obligations rated 'Ba' are judged to be speculative and are subject to
substantial credit risk.                                                        

 B--Obligations rated 'B' are considered speculative and are subject to high
credit risk.                                                                    

Caa--Obligations rated 'Caa' are judged to be speculative of poor standing
and are subject to very high credit risk.                                       

  Ca--Obligations rated 'Ca' are highly speculative and are likely in, or very
near, default, with some prospect of recovery of principal and interest.        

C--Obligations rated 'C' are the lowest rated class of bonds and are      
typically in default, with little prospect for recovery of principal or         
interest.                                                                       

Note: Moody's appends numerical modifiers 1, 2, and 3 to each generic rating    
category from Aa through Caa. The modifier 1 indicates that the issuer or       
obligation ranks in the higher end of its generic rating category; the modifier 
2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the  
lower end of that generic rating category.                                      

  Fitch Ratings. Long-Term Ratings Scales. Fitch rated entities in a number of
sectors, including financial and non-financial corporations, sovereigns and     
insurance companies, are generally assigned Issuer Default Ratings ("IDRs").    
IDRs opine on an entity's relative vulnerability to default on financial        
obligations. The "threshold" default risk addressed by the IDR is generally that
of the financial obligations whose non-payment would best reflect the uncured   
failure of that entity. As such, IDRs also address relative vulnerability to    
bankruptcy, administrative receivership or similar concepts, although the agency
recognizes that issuers may also make pre-emptive and therefore voluntary use of
such mechanisms.                                                                

In aggregate, IDRs provide an ordinal ranking of issuers based on the     
agency's view of their relative vulnerability to default, rather than a         
prediction of a specific percentage likelihood of default. For historical       
information on the default experience of Fitch-rated issuers, please consult the
transition and default performance studies available from the Fitch Ratings     
website.                                                                        

     o    The ratings do not predict a specific percentage of default likelihood
over any given time period;                                 

o    The ratings do not opine on the market value of any issuer's     
      securities or stock, or the likelihood that this value may change;

   o    The ratings do not opine on the liquidity of the issuer's securities
or stock;                                                   

o    The ratings do not opine on the possible loss severity on an     
obligation should an issuer default;                        

o    The ratings do not opine on the suitability of an issuer as a    
counterparty to trade credit;                               

o    The ratings do not opine on any quality related to an issuer's   
      business, operational or financial profile other than the agency's
opinion on its relative vulnerability to default;           

 AAA--Highest credit quality. 'AAA' ratings denote the lowest expectation of
default risk. They are assigned only in cases of exceptionally strong capacity  
for payment of financial commitments. This capacity is highly unlikely to be    
adversely affected by foreseeable events.                                       

AA--Very high credit quality. 'AA' ratings denote expectations of very low
default risk. They indicate very strong capacity for payment of financial       
commitments. This capacity is not significantly vulnerable to foreseeable       
events.                                                                         

  A--High credit quality. 'A' ratings denote expectations of low default risk.
The capacity for payment of financial commitments is considered strong. This    
capacity may, nevertheless, be more vulnerable to adverse business or economic  
conditions than is the case for higher ratings.                                 

   BBB--Good credit quality. 'BBB' ratings indicate that expectations of default
risk are currently low. The capacity for payment of financial commitments is    
considered adequate but adverse business or economic conditions are more likely 
to impair this capacity.                                                        

 BB--Speculative. 'BB' ratings indicate an elevated vulnerability to default
risk, particularly in the event of adverse changes in business or economic      
conditions over time; however, business or financial flexibility exists which   
supports the servicing of financial commitments.                                

B--Highly speculative. 'B' ratings indicate that material default risk is 
present, but a limited margin of safety remains. Financial commitments are      
currently being met; however, capacity for continued payment is vulnerable to   
deterioration in the business and economic environment.                         

CCC--Substantial credit risk. Default is a real possibility.              

 CC--Very high levels of credit risk. Default of some kind appears probable.

C--Exceptionally high levels of credit risk. Default is imminent or       
inevitable, or the issuer is in standstill. Conditions that are indicative of a 
'C' category rating for an issuer include:                                      

a.   the issuer has entered into a grace or cure period following     
non-payment of a material financial obligation;             

b.   the issuer has entered into a temporary negotiated waiver or     
  standstill agreement following a payment default on a material
financial obligation; or                                    

c.   Fitch Ratings otherwise believes a condition of 'RD' or 'D' to be
          imminent or inevitable, including through the formal announcement of a
coercive debt exchange.                                     

Note: The modifiers "+" or "-" may be appended to a rating to denote relative   
status within major rating categories. Such suffixes are not added to the 'AAA' 
Long-Term IDR category, or to Long-Term IDR categories below 'B'.               

ADDITIONAL INFORMATION                                                          
--------------------------------------------------------------------------------

This prospectus does not contain all the information set forth in the     
registration statements filed by your Trust with the SEC under the Securities   
Act of 1933 and the Investment Company Act of 1940 (file no. 811-2754). The     
Information Supplement, which has been filed with the SEC, includes more        
detailed information concerning the bonds in your Trust, investment risks and   
general information about the Trust. Information about your Trust (including    
the Information Supplement) can be reviewed and copied at the SEC's Public      
Reference Room in Washington, DC. You may obtain information about the Public   
Reference Room by calling 1-202-551-8090. Reports and other information about   
your Trust are available on the EDGAR Database on the SEC's Internet site at    
http://www.sec.gov. Copies of this information may be obtained, after paying a  
duplication fee, by electronic request at the following e-mail address:         
publicinfo@sec.gov or by writing the SEC's Public Reference Section,            
Washington, DC 20549-0102.                                                      

OTHER MATTERS                                                                   
--------------------------------------------------------------------------------

 Legal Matters. The legality of the Units offered hereby and certain matters
relating to federal tax law have been passed upon by Paul Hastings LLP. Dorsey  
& Whitney LLP has acted as counsel to the Trustee.                              

Independent Registered Public Accounting Firm. The statement of condition 
and the related portfolio at the Date of Deposit included in this prospectus    
have been audited by Grant Thornton LLP, independent registered public          
accounting firm, as set forth in their report in this prospectus, and are       
included herein in reliance upon the authority of said firm as experts in       
accounting and auditing.                                                        

Contents of Prospectus                                                          

Investment Objective                        2                               
Principal Investment Strategy               2                               
Principal Risks                             2                               
Summary of Essential Financial Information  4                               
Portfolio                                   6                               
Notes to Portfolio                          8                               
Underwriting                                9                               
Report of Independent Registered                                            
Public Accounting Firm                  10                            
Statement of Condition                     10                               
The Trusts                                 11                               
Estimated Current and Long-Term Returns    21                               
Public Offering                            22                               
Fee Accounts                               29                               
Rights of Unitholders                      29                               
Trust Administration                       31                               
Federal Tax Status                         34                               
Expenses                                   36                               
Description of Ratings                     37                               
Additional Information                     39                               
Other Matters                              40                               

Daily Prices                                                                    
o Call our 24-Hour Pricing Line                                             
(800) 953-6785                                                  
o Visit our Unit Trusts Daily Pricing Page                                  
http://www.invesco.com/UIT                                        

Account Questions                                                               
o Contact the Trustee                                                       
(800) 856-8487                                                    

Learning More About Unit Trusts                                                 
o Contact Invesco                                                           
(630) 684-6000                                                  
o Visit our Unit Trusts Internet Page                                       
http://www.invesco.com/UIT                                        

Additional Information                                                          
You may obtain an Information Supplement that                               
provides more details about your trust and its                              
policies.                                                                   
o Visit the SEC Internet Site                                               
http://www.sec.gov                                                
o Contact the Trustee                                                       
(800) 856-8487                                                    

-----------------                                                               
When Units of the Trust are no longer available this prospectus may be used as  
a preliminary prospectus for a future Trust. If this prospectus is used for     
future Trusts you should note the following:                                    

The information in this prospectus is not complete with respect to future Trust 
series and may be changed. No person may sell Units of future Trusts until a    
registration statement is filed with the Securities and Exchange Commission and 
is effective. This prospectus is not an offer to sell Units and is not          
soliciting an offer to buy Units in any state where the offer or sale is not    
permitted.                                                                      

                                                                      U-HYCTPRO1
                                                                     U-TISPRO513

PROSPECTUS
------------------
April 24, 2015

Taxable Income Series 513 

High Yield Corporate
Trust, 4-7 Year Series 1

INVESCO                                                                         

Information Supplement

Taxable Income Series 513                                                       
High Yield Corporate Trust, 4-7 Year Series 1                                   
--------------------------------------------------------------------------------

This Information Supplement provides additional information concerning the
risks and operations of the Trusts which is not described in the prospectus for 
the Trusts. This Information Supplement should be read in conjunction with the  
prospectus. This Information Supplement is not a prospectus (but is incorporated
into the prospectus by reference), does not include all of the information that 
an investor should consider before investing in a Trust and may not be used to  
offer or sell Units without the prospectus. Copies of the prospectus can be     
obtained by contacting the Sponsor's unit investment trust division at 3500     
Lacey Road, Suite 700, Downers Grove, Illinois 60515-5456, or by contacting your
broker. This Information Supplement is dated as of the date of this prospectus  
and all capitalized terms have been defined in the prospectus.                  

Table of Contents 

                                      Page
Risk Factors                                  2       
Portfolio Administration                      7       
Sponsor Information                           7       
Trustee Information                           8       
Taxation                                      8       
Termination of the Trust Agreement           10       
Estimated Cash Flows to Unitholders          11       

INVESCO                                                                         

Risk Factors

The Trusts include certain types of bonds described below. Accordingly, an
investment in a Trust should be made with an understanding of the               
characteristics of and risks associated with such bonds. Neither the Sponsor    
nor the Trustee shall be liable in any way for any default, failure or defect   
in any of the bonds.                                                            

  High-Yield Bonds. An investment in Units of the Trust should be made with an
understanding of the risks that an investment in "high-yield, high-risk" debt   
obligations or "junk" obligations may entail, including increased credit risks  
and the risk that the value of the Units will decline, and may decline          
precipitously, with increases in interest rates. The bonds included in the      
Trust may be subject to greater market fluctuations and risk of loss of income  
and principal than are investments in lower-yielding, higher-rated bonds, and   
their value may decline precipitously because of increases in interest rates,   
not only because the increases in rates generally decrease values, but also     
because increased rates may indicate a slowdown in the economy and a decrease   
in the value of assets generally that may adversely affect the credit of        
issuers of high-yield, high-risk bonds resulting in a higher incidence of       
defaults among high-yield, high-risk bonds. A slowdown in the economy, or a     
development adversely affecting an issuer's creditworthiness, may result in the 
issuer being unable to maintain earnings or sell assets at the rate and at the  
prices, respectively, that are required to produce sufficient cash flow to meet 
its interest and principal requirements. For an issuer that has outstanding     
both senior commercial bank debt and subordinated high-yield, high-risk bonds,  
an increase in interest rates will increase that issuer's interest expense      
insofar as the interest rate on the bank debt is fluctuating. However, many     
leveraged issuers enter into interest rate protection agreements to fix or cap  
the interest rate on a large portion of their bank debt. This reduces exposure  
to increasing rates, but reduces the benefit to the issuer of declining rates.  
The Sponsor cannot predict future economic policies or their consequences or,   
therefore, the course or extent of any similar market fluctuations in the       
future.                                                                         

"High-yield" or "junk" bonds, the generic names for bonds rated below BBB-
by Standard & Poor's, or below Baa3 by Moody's, are frequently issued by        
corporations in the growth stage of their development, by established companies 
whose operations or industries are depressed or by highly leveraged companies   
purchased in leveraged buyout transactions. The market for high-yield bonds is  
very specialized and investors in it have been predominantly financial          
institutions. High-yield bonds are generally not listed on a national           
securities exchange. Trading of high-yield bonds, therefore, takes place        
primarily in over-the-counter markets that consist of groups of dealer firms    
that are typically major securities firms. Because the high-yield bond market   
is a dealer market, rather than an auction market, no single obtainable price   
for a given bond prevails at any given time. Prices are determined by           
negotiation between traders. The existence of a liquid trading market for the   
bonds may depend on whether dealers will make a market in the bonds. There can  
be no assurance that a market will be made for any of the bonds, that any       
market for the bonds will be maintained or of the liquidity of the bonds in any 
markets made. Not all dealers maintain markets in all high-yield bonds.         
Therefore, since there are fewer traders in these bonds than there are in       
"investment grade" bonds, the bid-offer spread is usually greater for           
high-yield bonds than it is for investment grade bonds. The price at which the  
bonds may be sold and the value of the Trust will be adversely affected if      
trading markets for the bonds are limited or absent. If the rate of redemptions 
is great, the value of the Trust may decline to a level that requires           
liquidation.                                                                    

Lower-rated bonds tend to offer higher yields than higher-rated bonds with
the same maturities because the creditworthiness of the issuers of lower-rated  
bonds may not be as strong as that of other issuers. Moreover, if a bond is     
recharacterized as equity by the Internal Revenue Service for federal income    
tax purposes, the issuer's interest deduction with respect to the bond will be  
disallowed and this disallowance may adversely affect the issuer's credit       
rating. Because investors generally perceive that there are greater risks       
associated with the lower-rated bonds in the Trust, the yields and prices of    
these bonds tend to fluctuate more than higher-rated bonds with changes in the  
perceived quality of the credit of their issuers. In addition, the market value 
of high-yield, high-risk bonds may fluctuate more than the market value of      
higher-rated bonds since these bonds tend to reflect short-term credit          
development to a greater extent than higher-rated bonds. Lower-rated bonds      
generally involve greater risks of loss of income and principal than            
higher-rated bonds. Issuers of lower-rated bonds may possess fewer              
creditworthiness characteristics than issuers of higher-rated bonds and,        
especially in the case of issuers whose obligations or credit standing have     
recently been downgraded, may be subject to claims by debtholders, owners of    
property leased to the issuer or others which, if sustained, would make it more 
difficult for the issuers to meet their payment obligations. High-yield,        
high-risk bonds are also affected by variables such as interest rates,          
inflation rates and real growth in the economy. Therefore, investors should     
consider carefully the relative risks associated with investment in bonds that  
carry lower ratings.                                                            

High-yield, high-risk bonds are generally subordinated obligations. The   
payment of principal (and premium, if any), interest and sinking fund           
requirements with respect to subordinated obligations of an issuer is           
subordinated in right of payment to the payment of senior obligations of the    
issuer. Senior obligations generally include most, if not all, significant debt 
obligations of an issuer, whether existing at the time of issuance of           
subordinated debt or created thereafter. Upon any distribution of the assets of 
an issuer with subordinated obligations upon dissolution, total or partial      
liquidation or reorganization of or similar proceeding relating to the issuer,  
the holders of senior indebtedness will be entitled to receive payment in full  
before holders of subordinated indebtedness will be entitled to receive any     
payment. Moreover, generally no payment with respect to subordinated            
indebtedness may be made while there exists a default with respect to any       
senior indebtedness. Thus, in the event of insolvency, holders of senior        
indebtedness of an issuer generally will recover more, ratably, than holders of 
subordinated indebtedness of that issuer.                                       

  Obligations that are rated lower than "BBB-" by Standard & Poor's, or "Baa3"
by Moody's, respectively, should be considered speculative as such ratings      
indicate a quality of less than investment grade. Investors should carefully    
review the objective of the Trust and consider their ability to assume the      
risks involved before making an investment in the Trust.                        

Consumer Discretionary and Consumer Staples Issuers. The Trust may invest 
significantly in bonds issued by companies that manufacture or sell consumer    
products. The profitability of these companies will be affected by various      
factors including the general state of the economy and consumer spending        
trends. In the past, there have been major changes in the retail environment    
due to the declaration of bankruptcy by some of the major corporations involved 
in the retail industry, particularly the department store segment. The          
continued viability of the retail industry will depend on the industry's        
ability to adapt and to compete in changing economic and social conditions, to  
attract and retain capable management, and to finance expansion. Weakness in    
the banking or real estate industry, a recessionary economic climate with the   
consequent slowdown in employment growth, less favorable trends in unemployment 
or a marked deceleration in real disposable personal income growth could result 
in significant pressure on both consumer wealth and consumer confidence,        
adversely affecting consumer spending habits. Increasing employee and retiree   
benefit costs may also have an adverse effect on the industry. In many sectors  
of the retail industry, competition may be fierce due to market saturation,     
converging consumer tastes and other factors. Because of these factors and the  
recent increase in trade opportunities with other countries, American retailers 
are now entering global markets which entail added risks such as sudden         
weakening of foreign economies, difficulty in adapting to local conditions and  
constraints and added research costs.                                           

Financial Services Issuers. The Trust may invest significantly in bonds   
issued by companies within the bank and financial services sector.              

The effects of the sub-prime mortgage crisis that began to unfold in 2007 
continue to manifest in nearly all the sub-divisions of the financial services  
industry. Sub-prime mortgage related losses and write downs among investment    
banks and similar institutions reached significant levels in 2008. The impact   
of these losses among traditional banks, investment banks, broker/dealers and   
insurers has forced a number of large such institutions into either liquidation 
or combination, while drastically increasing the credit risk, and possibility   
of default, of bonds issued by such institutions faced with these troubles.     
Many of the institutions are having difficulty in accessing credit markets to   
finance their operations and in maintaining appropriate levels of equity        
capital. In some cases, the U.S. government has acted to bail out or provide    
support to select institutions, however the risk of default by such issuers has 
nonetheless increased substantially.                                            

While the U.S. Department of the Treasury, Federal Reserve Board and      
Congress have taken steps to address problems in the financial markets and with 
financial institutions, there can be no assurance that the risks associated     
with investment in financial services company issuers will decrease as a result 
of these steps.                                                                 

Banks and their holding companies are especially subject to the adverse   
effects of economic recession, volatile interest rates, portfolio               
concentrations in geographic markets and in commercial and residential real     
estate loans, and competition from new entrants in their fields of business.    
Banks are highly dependent on net interest margin. Bank profitability is        
largely dependent on the availability and cost of capital funds, and can        
fluctuate significantly when interest rates change or due to increased          
competition. As initial home purchasing and refinancing activity subsided as a  
result of increasing interest rates and other factors, this income diminished.  
Economic conditions in the real estate markets have deteriorated and have had a 
substantial negative effect upon banks because they generally have a portion of 
their assets invested in loans secured by real estate. Banks and their holding  
companies are subject to extensive federal regulation and, when such            
institutions are state-chartered, to state regulation as well. Such regulations 
impose strict capital requirements and limitations on the nature and extent of  
business activities that banks may pursue. Furthermore, bank regulators have a  
wide range of discretion in connection with their supervisory and enforcement   
authority and may substantially restrict the permissible activities of a        
particular institution if deemed to pose significant risks to the soundness of  
such institution or the safety of the federal deposit insurance fund.           
Regulatory actions, such as increases in the minimum capital requirements       
applicable to banks and increases in deposit insurance premiums required to be  
paid by banks and thrifts to the Federal Deposit Insurance Corporation          
("FDIC"), can negatively impact earnings and the ability of a company to pay    
dividends. Neither federal insurance of deposits nor governmental regulations,  
however, insures the solvency or profitability of banks or their holding        
companies, or insures against any risk of investment in the securities issued   
by such institutions.                                                           

  The statutory requirements applicable to and regulatory supervision of banks
and their holding companies have increased significantly and have undergone     
substantial change in recent years. To a great extent, these changes are        
embodied in the Financial Institutions Reform, Recovery and Enforcement Act;    
enacted in August 1989, the Federal Deposit Insurance Corporation Improvement   
Act of 1991, and the regulations promulgated under these laws. Many of the      
regulations promulgated pursuant to these laws have only recently been          
finalized and their impact on the business, financial condition and prospects   
of the securities in the Trust's portfolio cannot be predicted with certainty.  
The Gramm-Leach-Bliley Act financial-services overhaul legislation allows       
banks, securities firms and insurance companies to form one-stop financial      
conglomerates marketing a wide range of financial service products to           
investors. This legislation has resulted in increased merger activity and       
heightened competition among existing and new participants in the field.        
Legislation to liberalize interstate banking has been signed into law in recent 
years, allowing banks to be able to purchase or establish subsidiary banks in   
any state. Since mid-1997, banks have been allowed to turn existing banks into  
branches. Consolidation is likely to continue. The Securities and Exchange      
Commission (the "SEC") and the Financial Accounting Standards Board require the 
expanded use of market value accounting by banks and have imposed rules         
requiring market accounting for investment securities held in trading accounts  
or available for sale. Adoption of additional such rules may result in          
increased volatility in the reported health of the industry, and mandated       
regulatory intervention to correct such problems. Additional legislative and    
regulatory changes may be forthcoming. For example, the bank regulatory         
authorities have proposed substantial changes to the Community Reinvestment Act 
and fair lending laws, rules and regulations, and there can be no certainty as  
to the effect, if any, that such changes would have on the bonds in the Trust's 
portfolio. In addition, from time to time the deposit insurance system is       
reviewed by Congress and federal regulators, and proposed reforms of that       
system could, among other things, further restrict the ways in which deposited  
moneys can be used by banks or reduce the dollar amount or number of deposits   
insured for any depositor. Such reforms could reduce profitability, as          
investment opportunities available to bank institutions become more limited and 
as consumers look for savings vehicles other than bank deposits. Banks face     
significant competition from other financial institutions such as mutual funds, 
credit unions, mortgage banking companies and insurance companies, and          
increased competition may result from legislative broadening of regional and    
national interstate banking powers. Among other benefits, such legislation      
allows banks and bank holding companies to acquire across previously prohibited 
state lines and to consolidate their various bank subsidiaries into one unit.   
Neither the Sponsor nor any Underwriter makes any prediction as to what, if     
any, manner of bank regulatory actions might ultimately be adopted or what      
ultimate effect such actions might have on the Trust's portfolio.               

The Federal Bank Holding Company Act of 1956 generally prohibits a bank   
holding company from (1) acquiring, directly or indirectly, more than 5% of the 
outstanding shares of any class of voting securities of a bank or bank holding  
company, (2) acquiring control of a bank or another bank holding company, (3)   
acquiring all or substantially all the assets of a bank, or (4) merging or      
consolidating with another bank holding company, without first obtaining        
Federal Reserve Board ("FRB") approval. In considering an application with      
respect to any such transaction, the FRB is required to consider a variety of   
factors, including the potential anti-competitive effects of the transaction,   
the financial condition and future prospects of the combining and resulting     
institutions, the managerial resources of the resulting institution, the        
convenience and needs of the communities the combined organization would serve, 
the record of performance of each combining organization under the Community    
Reinvestment Act and the Equal Credit Opportunity Act, and the prospective      
availability to the FRB of information appropriate to determine ongoing         
regulatory compliance with applicable banking laws. In addition, the federal    
Change In Bank Control Act and various state laws impose limitations on the     
ability of one or more individuals or other entities to acquire control of      
banks or bank holding companies.                                                

The FRB has issued a policy statement on the payment of cash dividends by 
bank holding companies. In the policy statement, the FRB expressed its view     
that a bank holding company experiencing earnings weaknesses should not pay     
cash dividends which exceed its net income or which could only be funded in     
ways that would weaken its financial health, such as by borrowing. The FRB also 
may impose limitations on the payment of dividends as a condition to its        
approval of certain applications, including applications for approval of        
mergers and acquisitions. Neither the Sponsor nor any Underwriter makes any     
prediction as to the effect, if any, such laws will have on the bonds or        
whether such approvals, if necessary, will be obtained.                         

Companies engaged in the investment management industry are subject to the
adverse effects of economic recession, volatile interest rates, and competition 
from new entrants in their fields of business. Adverse changes in the direction 
of the stock market, investor confidence, equity transaction volume, the level  
and direction of interest rates and the outlook of emerging markets could       
adversely affect the financial stability, as well as the prices of the          
securities, of these companies. Additionally, competitive pressures, including  
increased competition with new and existing competitors, the ongoing            
commoditization of traditional businesses and the need for increased capital    
expenditures on new technology could adversely impact the profit margins of     
companies in the investment management and brokerage industries. Companies      
involved in the investment management industry are also subject to extensive    
regulation by government agencies and self-regulatory organizations, and        
changes in laws, regulations or rules, or in the interpretation of such laws,   
regulations and rules could adversely affect such companies.                    

Companies involved in the insurance, reinsurance and risk management      
industry underwrite, sell or distribute property, casualty and business         
insurance. Many factors affect insurance, reinsurance and risk management       
company profits, including but not limited to interest rate movements, the      
imposition of premium rate caps, a misapprehension of the risks involved in     
given underwritings, competition and pressure to compete globally, weather      
catastrophes or other disasters and the effects of client mergers. Individual   
companies may be exposed to material risks including reserve inadequacy and the 
inability to collect from reinsurance carriers. Insurance companies are subject 
to extensive governmental regulation, including the imposition of maximum rate  
levels, which may not be adequate for some lines of business. Proposed or       
potential tax law changes may also adversely affect insurance companies' policy 
sales, tax obligations and profitability. In addition to the foregoing, profit  
margins of these companies continue to shrink due to the commoditization of     
traditional businesses, new competitors, capital expenditures on new technology 
and the pressure to compete globally.                                           

In addition to the normal risks of business, companies involved in the    
insurance and risk management industry are subject to significant risk factors, 
including those applicable to regulated insurance companies, such as:           

o    the inherent uncertainty in the process of establishing          
       property-liability loss reserves, and the fact that ultimate losses
         could materially exceed established loss reserves, which could have a
  material adverse effect on results of operations and financial
condition;                                                  

o    the fact that insurance companies have experienced, and can be   
          expected in the future to experience, catastrophic losses, which could
         have a material adverse impact on their financial conditions, results
of operations and cash flow;                                

o    the inherent uncertainty in the process of establishing          
   property-liability loss reserves due to changes in loss payment
patterns caused by new claim settlement practices;          

  o    the need for insurance companies and their subsidiaries to maintain
        appropriate levels of statutory capital and surplus, particularly in
  light of continuing scrutiny by rating organizations and state
         insurance regulatory authorities, and in order to maintain acceptable
financial strength or claims-paying ability ratings;        

    o    the extensive regulation and supervision to which insurance companies
are subject, and various regulatory and other legal actions;

    o    the adverse impact that increases in interest rates could have on the
   value of an insurance company's investment portfolio and on the
attractiveness of certain of its products; and              

     o    the uncertainty involved in estimating the availability of reinsurance
and the collectability of reinsurance recoverables.         

The state insurance regulatory framework has, during recent years, come   
under increased federal scrutiny, and certain state legislatures have           
considered or enacted laws that alter and, in many cases, increase state        
authority to regulate insurance companies and insurance holding company         
systems. Further, the National Association of Insurance Commissioners ("NAIC")  
and state insurance regulators are re-examining existing laws and regulations,  
specifically focusing on insurance companies, interpretations of existing laws  
and the development of new laws. In addition, Congress and certain federal      
agencies have investigated the condition of the insurance industry in the       
United States to determine whether to promulgate additional federal regulation. 
The Sponsor is unable to predict whether any state or federal legislation will  
be enacted to change the nature or scope of regulation of the insurance         
industry, or what effect, if any, such legislation would have on the industry.  

All insurance companies are subject to state laws and regulations that    
require diversification of their investment portfolios and limit the amount of  
investments in certain investment categories. Failure to comply with these laws 
and regulations would cause non-conforming investments to be treated as         
non-admitted assets for purposes of measuring statutory surplus and, in some    
instances, would require divestiture.                                           

Zero Coupon Bonds. Certain of the bonds in a Trust may be "zero coupon"   
bonds. Zero coupon bonds are purchased at a deep discount because the buyer     
receives only the right to receive a final payment at the maturity of the bond  
and does not receive any periodic interest payments. The effect of owning deep  
discount bonds which do not make current interest payments (such as the zero    
coupon bonds) is that a fixed yield is earned not only on the original          
investment but also, in effect, on all discount earned during the life of such  
income on the bond at a rate as high as the implicit yield on the discount      
bond, but at the same time eliminates the holder's ability to reinvest at       
higher rates in the future. For this reason, zero coupon bonds are subject to   
substantially greater price fluctuations during periods of changing market      
interest rates than are securities of comparable quality which pay interest.    

Portfolio Administration

The Trustee is empowered to sell, for the purpose of redeeming Units      
tendered by any Unitholder, and for the payment of expenses for which funds may 
not be available, such of the bonds designated by the Supervisor as the Trustee 
in its sole discretion may deem necessary. The Supervisor, in designating such  
bonds, will consider a variety of factors, including (a) interest rates, (b)    
market value and (c) marketability. To the extent that bonds are sold which are 
current in payment of principal and interest in order to meet redemption        
requests and defaulted bonds are retained in the portfolio in order to preserve 
the related insurance protection applicable to said bonds, if any, the overall  
quality of the bonds remaining in a Trust's portfolio will tend to diminish.    
The Sponsor is empowered, but not obligated, to direct the Trustee to dispose   
of bonds in the event of an advanced refunding.                                 

 The Sponsor is required to instruct the Trustee to reject any offer made by
an issuer of any of the bonds to issue new bonds in exchange or substitution    
for any bond pursuant to a refunding or refinancing plan, except that the       
Sponsor may instruct the Trustee to accept or reject such an offer or to take   
any other action with respect thereto as the Sponsor may deem proper if (1) the 
issuer is in default with respect to such bond or (2) in the written opinion of 
the Sponsor the issuer will probably default with respect to such bond in the   
reasonably foreseeable future. Any bond so received in exchange or substitution 
will be held by the Trustee subject to the terms and conditions of the Trust    
Agreement to the same extent as bonds originally deposited thereunder. Within   
five days after the deposit of obligations in exchange or substitution for      
underlying bonds, the Trustee is required to give notice thereof to each        
Unitholder, identifying the bonds eliminated and the bonds substituted          
therefor. Except as stated herein and under "Trust Administration--Replacement  
Bonds" in the prospectus regarding the substitution of Replacement Bonds for    
Failed Bonds, the acquisition by a Trust of any bonds other than the bonds      
initially deposited is not permitted.                                           

If any default in the payment of principal or interest on any bond occurs 
and no provision for payment is made therefor within 30 days, the Trustee is    
required to notify the Sponsor thereof. If the Sponsor fails to instruct the    
Trustee to sell or to hold such bonds within 30 days after notification by the  
Trustee to the Sponsor of such default, the Trustee may in its discretion sell  
the defaulted Bond and not be liable for any depreciation or loss thereby       
incurred.                                                                       

Sponsor Information 

Sponsor. Invesco Capital Markets, Inc. is the Sponsor of your Trust. The  
Sponsor is a wholly owned subsidiary of Invesco Advisers, Inc. ("Invesco        
Advisers"). Invesco Advisers is an indirect wholly owned subsidiary of Invesco  
Ltd., a leading independent global investment manager that provides a wide      
range of investment strategies and vehicles to its retail, institutional and    
high net worth clients around the globe. The Sponsor's principal office is      
located at 11 Greenway Plaza, Houston, Texas 77046-1173. As of December 31,     
2014, the total stockholders' equity of Invesco Capital Markets, Inc. was       
$101,880,982.35 (unaudited). The current assets under management and            
supervision by Invesco Ltd. and its affiliates were valued at approximately     
$792.4 billion as of December 31, 2014. (This paragraph relates only to the     
Sponsor and not to your Portfolio or to any other Series thereof. The           
information is included herein only for the purpose of informing investors as   
to the financial responsibility of the Sponsor and its ability to carry out its 
contractual obligations. More detailed financial information will be made       
available by the Sponsor upon request).                                         

The Sponsor and your Trust have adopted a code of ethics requiring Invesco
Ltd.'s employees who have access to information on Trust transactions to report 
personal securities transactions. The purpose of the code is to avoid potential 
conflicts of interest and to prevent fraud, deception or misconduct with        
respect to your Trust.                                                          

If the Sponsor shall fail to perform any of its duties under the Trust    
Agreement or become incapable of acting or shall become bankrupt or its affairs 
are taken over by public authorities, then the Trustee may (i) appoint a        
successor Sponsor at rates of compensation deemed by the Trustee to be          
reasonable and not exceeding amounts prescribed by the Securities and Exchange  
Commission, (ii) terminate the Trust Agreement and liquidate the Trusts as      
provided therein or (iii) continue to act as Trustee without terminating the    
Trust Agreement.                                                                

Trustee Information 

 The Trustee is The Bank of New York Mellon, a trust company organized under
the laws of New York. The Bank of New York Mellon has its principal unit        
investment trust division offices at 2 Hanson Place, 12th Floor, Brooklyn, New  
York 11217, telephone (800) 856-8487. The Bank of New York Mellon is subject to 
supervision and examination by the Superintendent of Banks of the State of New  
York and the Board of Governors of the Federal Reserve System, and its deposits 
are insured by the Federal Deposit Insurance Corporation to the extent          
permitted by law.                                                               

The duties of the Trustee are primarily ministerial in nature. It did not 
participate in the selection of bonds for the portfolios of any of the Trusts.  
In accordance with the Trust Agreement, the Trustee shall keep proper books of  
record and account of all transactions at its office for the Trusts. Such       
records shall include the name and address of every Unitholder of the Trusts.   
Such books and records shall be open to inspection by any Unitholder at all     
reasonable times during the usual business hours. The Trustee shall make such   
annual or other reports as may from time to time be required under any          
applicable state or federal statute, rule or regulation. The Trustee is         
required to keep a certified copy or duplicate original of the Trust Agreement  
on file in its office available for inspection at all reasonable times during   
the usual business hours by any Unitholder, together with a current list of the 
bonds held in the Trusts.                                                       

Under the Trust Agreement, the Trustee or any successor trustee may resign
and be discharged of the trusts created by the Trust Agreement by executing an  
instrument in writing and filing the same with the Sponsor. The Trustee or      
successor trustee must mail a copy of the notice of resignation to all          
Unitholders then of record, not less than 60 days before the date specified in  
such notice when such resignation is to take effect. The Sponsor upon receiving 
notice of such resignation is obligated to appoint a successor trustee          
promptly. If, upon such resignation, no successor trustee has been appointed    
and has accepted the appointment within 30 days after notification, the         
retiring Trustee may apply to a court of competent jurisdiction for the         
appointment of a successor. The Sponsor may remove the Trustee and appoint a    
successor trustee as provided in the Trust Agreement at any time with or        
without cause. Notice of such removal and appointment shall be mailed to each   
Unitholder by the Sponsor. Upon execution of a written acceptance of such       
appointment by such successor trustee, all the rights, powers, duties and bonds 
of the original trustee shall vest in the successor. The resignation or removal 
of a Trustee becomes effective only when the successor trustee accepts its      
appointment as such or when a court of competent jurisdiction appoints a        
successor trustee. Any corporation into which a Trustee may be merged or with   
which it may be consolidated, or any corporation resulting from any merger or   
consolidation to which a Trustee shall be a party, shall be the successor       
trustee. The Trustee must be a banking corporation organized under the laws of  
the United States or any state and having at all times an aggregate capital,    
surplus and undivided profits of not less than $5,000,000.                      

Taxation

The prospectus contains a discussion of certain U.S. federal income tax   
issues concerning your Trust and the purchase, ownership and disposition of     
Trust Units. The discussion below supplements the prospectus discussion, is     
qualified in its entirety by the prospectus discussion and is not intended to   
be a complete discussion of all material tax consequences that might apply to   
an investor in the Trust. Prospective investors should consult their own tax    
advisors with regard to the federal tax consequences of the purchase,           
ownership, or disposition of Trust Units, as well as the tax consequences       
arising under the laws of any state, locality, non-U.S. country, or other       
taxing jurisdiction.                                                            

The federal income tax summary below and in the prospectus is based on the
Code, Treasury regulations promulgated thereunder, case law and rulings and     
announcements by the Internal Revenue Service, and in part on the advice of     
counsel to your Trust. The laws on which such advice of counsel is based are    
subject to change, possibly with retroactive effect. The Internal Revenue       
Service could disagree with any conclusions set forth in these discussions. In  
addition, our counsel was not asked to review the federal income tax treatment  
of the assets to be held by your Trust.                                         

Your Trust intends to elect and to qualify annually as a regulated        
investment company under the Internal Revenue Code of 1986, as amended (the     
"Code") and to comply with applicable distribution requirements so that it will 
not pay federal income tax on income and capital gains distributed to its       
Unitholders. If the Trust does not qualify as a regulated investment company,   
it will be taxed as a regular corpration.                                       

To qualify for the favorable U.S. federal income tax treatment generally  
accorded to regulated investment companies, your Trust must, among other        
things, (a) derive in each taxable year at least 90% of its gross income from   
dividends, interest, payments with respect to securities loans and gains from   
the sale or other disposition of stock, securities or foreign currencies or     
other income derived with respect to its business of investing in such stock,   
securities or currencies, and net income from certain publicly traded           
partnerships; (b) diversify its holdings so that, at the end of each quarter of 
the taxable year, (i) at least 50% of the market value of the Trust's assets is 
represented by cash and cash items (including receivables), U.S. government     
securities, the securities of other regulated investment companies and other    
securities, with such other securities of any one issuer generally limited for  
the purposes of this calculation to an amount not greater than 5% of the value  
of the Trust's total assets and not greater than 10% of the outstanding voting  
securities of such issuer, and (ii) not more than 25% of the value of its total 
assets is invested in the securities (other than U.S. government securities or  
the securities of other regulated investment companies) of any one issuer, or   
two or more issuers which the Trust controls (by owning 20% or more of such     
issuer's outstanding voting securities) and which are engaged in the same,      
similar or related trades or businesses, or the securities of qualified         
publicly traded partnerships; and (c) distribute at least 90% of its investment 
company taxable income (which includes, among other items, dividends, interest  
and net short-term capital gains in excess of net long-term capital losses but  
excludes net capital gain, if any) and at least 90% of its net tax-exempt       
interest income, if any, each taxable year.                                     

 As a regulated investment company, your Trust generally will not be subject
to U.S. federal income tax on its investment company taxable income (as that    
term is defined in the Code, but without regard to the deduction for dividends  
paid) and net capital gain (the excess of net long-term capital gain over net   
short-term capital loss), if any, that it distributes to Unitholders. Your      
Trust intends to distribute to its Unitholders, at least annually,              
substantially all of its investment company taxable income and net capital      
gain. If your Trust retains any net capital gain or investment company taxable  
income, it will generally be subject to federal income tax at regular corporate 
rates on the amount retained. In addition, amounts not distributed on a timely  
basis in accordance with a calendar year distribution requirement are subject   
to a nondeductible 4% excise tax unless, generally, your Trust distributes      
during each calendar year an amount equal to the sum of (1) at least 98% of its 
ordinary income (not taking into account any capital gains or losses) for the   
calendar year, (2) at least 98.2% of its capital gains in excess of its capital 
losses (adjusted for certain ordinary losses) for the one-year period ending    
October 31 of the calendar year, and (3) any ordinary income and capital gains  
for previous years that were not distributed or taxed during those years. To    
prevent application of the excise tax, your Trust intends to make its           
distributions in accordance with the calendar year distribution requirement.    
Further, if your Trust retains any net capital gain, the Trust may designate    
the retained amount as undistributed capital gains in a notice to Unitholders   
who, if subject to federal income tax on long-term capital gains, (i) will be   
required to include in income for federal income tax purposes, as long-term     
capital gain, their share of such undistributed amount, and (ii) will be        
entitled to credit their proportionate share of the tax paid by the Trust       
against their federal income tax liabilities, if any, and to claim refunds to   
the extent the credit exceeds such liabilities. A distribution will be treated  
as paid on December 31 of the current calendar year if it is declared by your   
Trust in October, November or December with a record date in such a month and   
paid by your Trust during January of the following calendar year. These         
distributions will be taxable to Unitholders in the calendar year in which the  
distributions are declared, rather than the calendar year in which the          
distributions are received.                                                     

 If your Trust failed to qualify as a regulated investment company or failed
to satisfy the 90% distribution requirement in any taxable year, the Trust      
would be taxed as an ordinary corporation on its taxable income (even if such   
income were distributed to its Unitholders) and all distributions out of        
earnings and profits would be taxed to Unitholders as ordinary dividend         
income.                                                                         

 Your Trust may be required to withhold as backup withholding federal income
tax at the backup withholding rate on all taxable distributions payable to you  
if you fail to provide your correct taxpayer identification number or to make   
required certifications, or if you have been notified by the IRS that you are   
subject to backup withholding. Backup withholding is not an additional tax. Any 
amounts withheld may be credited against your federal income tax liability if   
you provide the required information or certification.                          

 A 3.8% Medicare tax is imposed on the investment income of taxpayers in the
higher income brackets, which includes dividends and capital gains with respect 
to your Units in the Trust.                                                     

Investors in the Trust may be subject to federal, state, local, or foreign
taxes in connection with their investment in the Trust. Investors are           
encouraged to consult their own tax advisors regarding the specific federal,    
state, local, and foreign tax consequences that may affect them as a result of  
an investment in the Trust. The Trust may make taxable distributions to you     
even during periods in which the value of Units has declined.                   

Termination of the Trust Agreement

  A Trust may be terminated at any time by consent of Unitholders representing
75% of the Units of the Trust then outstanding or by the Trustee when the value 
of the Trust, as shown by any semi-annual evaluation, is less than 20% of the   
original principal amount of bonds.                                             

A Trust will be liquidated by the Trustee in the event that a sufficient  
number of Units not yet sold are tendered for redemption by the Underwriters,   
including the Sponsor, so that the net worth of the Trust would be reduced to   
less than 40% of the initial principal amount of the Trust. If a Trust is       
liquidated because of the redemption of unsold Units by the Underwriters, the   
Sponsor will refund to each purchaser of Units the entire sales charge paid by  
such purchaser.                                                                 

The Trust Agreement provides that a Trust shall terminate upon the        
redemption, sale or other disposition of the last bond held in the Trust, but   
in no event shall it continue beyond the end of the calendar year preceding the 
twentieth anniversary of its execution in the case of a High Yield Trust. In    
the event of termination of a Trust, written notice thereof will be sent by the 
Trustee to each Unitholder at his address appearing on the registration books   
of the Trust maintained by the Trustee. Within a reasonable time thereafter the 
Trustee shall liquidate any bonds then held in a Trust and shall deduct from    
the funds of the Trust any accrued costs, expenses or indemnities provided by   
the Trust Agreement, including estimated compensation of the Trustee and costs  
of liquidation and any amounts required as a reserve to provide for payment of  
any applicable taxes or other governmental charges. The sale of bonds in a      
Trust upon termination may result in a lower amount than might otherwise be     
realized if such sale were not required at such time. For this reason, among    
others, the amount realized by a Unitholder upon termination may be less than   
the principal amount or par amount of bonds represented by the Units held by    
such Unitholder. The Trustee shall then distribute to each Unitholder his share 
of the balance of the Interest and Principal Accounts. With such distribution   
the Unitholders shall be furnished a final distribution statement of the amount 
distributable. At such time as the Trustee in its sole discretion shall         
determine that any amounts held in reserve are no longer necessary, it shall    
make distribution thereof to Unitholders in the same manner.                    

Estimated Cash Flows to Unitholders 

The table below sets forth the per Unit estimated monthly distributions of
interest and principal to Unitholders. The table assumes no changes in          
expenses, no changes in the current interest rates, no exchanges, redemptions,  
sales or prepayments of the underlying bonds prior to maturity or expected      
retirement date and the receipt of principal upon maturity or expected          
retirement date. To the extent the foregoing assumptions change actual          
distributions will vary.                                                        

High Yield Corporate Trust, 4-7 Year Series 1                                   

Monthly                                                                   

                                     Estimated     Estimated     Estimated
      Distribution Dates            Interest     Principal       Total
             (Each Month)             Distribution  Distribution  Distribution
--------------------------------------------------------------------------------

May        2015                         $    2.01                    $   2.01   
June       2015 - June       2016            5.50                        5.50   
July       2016                              5.31       $ 32.65         37.96   
August     2016 - September  2016            5.27                        5.27   
October    2016                              5.21         31.95         37.16   
November   2016                              5.05          7.96         13.01   
December   2016                              5.02                        5.02   
January    2017                              4.90         21.20         26.10   
February   2017 - October    2017            4.88                        4.88   
November   2017                              4.83         21.14         25.97   
December   2017 - April      2018            4.75                        4.75   
May        2018                              4.72         20.36         25.08   
June       2018 - April      2019            4.64                        4.64   
May        2019                              4.62         10.18         14.80   
June       2019                              4.51         40.71         45.22   
July       2019                              4.29         10.18         14.47   
August     2019                              4.28                        4.28   
September  2019                              4.24         10.18         14.42   
October    2019                              4.10         40.71         44.81   
November   2019                              3.86         40.71         44.57   
December   2019                              3.59         40.71         44.30   
January    2020                              3.49                        3.49   
February   2020                              3.31         40.72         44.03   
March      2020                              3.27                        3.27   
April      2020                              3.12         30.53         33.65   
May        2020                              2.99         50.89         53.88   
June       2020                              2.55         50.89         53.44   
July       2020                              2.51                        2.51   
August     2020                              2.42         20.36         22.78   
September  2020                              2.40                        2.40   
October    2020                              2.35         30.53         32.88   
November   2020                              2.15         20.36         22.51   
December   2020                              2.11         20.35         22.46   
January    2021 - February   2021            2.05                        2.05   
March      2021                              1.90         30.54         32.44   
April      2021                              1.84         25.44         27.28   
May        2021                              1.72         20.36         22.08   
June       2021                              1.51         61.07         62.58   
July       2021 - September  2021            1.35                        1.35   
October    2021                              1.14         50.89         52.03   
November   2021 - December   2021            1.10                        1.10   
January    2022                               .96         30.53         31.49   
February   2022                               .93                         .93   
March      2022                               .91         10.18         11.09   
April      2022                               .78         50.89         51.67   
May        2022                               .43         50.89         51.32   

High Yield Corporate Trust, 4-7 Year Series 1                                   

Monthly (continued)                                                       

                                     Estimated     Estimated     Estimated
      Distribution Dates            Interest     Principal       Total
             (Each Month)             Distribution  Distribution  Distribution
--------------------------------------------------------------------------------
June       2022 - July       2022       $     .32                    $    .32   
August     2022                               .24     $   20.36         20.60   
September  2022 - October    2022             .23                         .23   
November   2022                               .10         30.53         30.63   
December   2022                               .00         30.49         30.49   

                                                                     U-TISSUP513

CONTENTS OF REGISTRATION STATEMENT

 This Amendment of the Registration Statement comprises the following papers
and documents:                                                                  

The Facing Sheet of Form S-6.                         
The Prospectus.                                       
The Undertaking to File Reports.                      
The Signatures.                                       
      The Written Consents of Legal Counsel, Initial Evaluator and
Independent Registered Public Accounting Firm.  

The following exhibits:                                                   

1.1  Trust Agreement.                                                 

 1.1.1  Standard Terms and Conditions of Trust. Reference is made to Exhibit
   1.1.1 to the Registration Statement on Form S-6 of Invesco Unit
          Trusts, Taxable Income Series 429 (File No. 333-183830) dated December
10, 2012.                                                   

 1.2  Certificate of Incorporation of Van Kampen Funds Inc. Reference is
        made to Exhibit 1.2 to the Registration Statement on Form S-6 of Van
          Kampen Focus Portfolios, Series 320 (File No. 333-75548) dated January
2, 2002.                                                    

  1.2.1  Certificate of Amendment of Certificate of Incorporation changing the
       name of the Depositor to Invesco Capital Markets, Inc. Reference is
      made to Exhibit 1.2.1 to the Registration Statement on Form S-6 of
          Invesco Unit Trusts, Municipal Series 1130 (File No. 333-184264) dated
December 4, 2012.                                           

1.3  By-laws of the Depositor. Reference is made to Exhibit 1.3 to the
      Registration Statement on Form S-6 of Van Kampen Focus Portfolios,
Series 320 (File No. 333-75548) dated January 2, 2002.      

1.4  Form of Dealer Agreement. Reference is made to Exhibit 1.4 to the
 Registration Statement on Form S-6 of Van Kampen Unit Trusts,
  Municipal Series 560 (File No. 333-122799) dated May 18, 2005.

1.5  Form of Master Agreement Among Underwriters. Reference is made to
       Exhibit 1.5 to the Registration Statement on Form S-6 of Van Kampen
         Unit Trusts, Municipal Series 560 (File No. 333-122799) dated May 18,
2005.                                                       

2.1  Form of Code of Ethics. Reference is made to Exhibit 2.1 to the  
 Registration Statement on Form S-6 of Van Kampen Unit Trusts,
  Municipal Series 890 (File No. 333-165240) dated June 2, 2010.

    3.1  Opinion and Consent of Counsel as to the legality of securities being
registered.                                                 

3.3  Opinion of Counsel as to the Trustee and the Trust.              

4.1  Consent of Initial Evaluator.                                    

4.2  Consent of Independent Registered Public Accounting Firm.        

    6.1  List of Officers and Directors of the Depositor. Reference is made to
         Exhibit 6.1 to the Registration Statement on Form S-6 of Invesco Unit
   Trusts, Series 1520 (File No. 333-201408) dated March 12, 2015.

7.1  Powers of Attorney. Reference is made to Exhibit 7.1 to the      
        Registration Statement on Form S-6 of Invesco Unit Trusts, Municipal
         Series 1130 (File No. 333-184264) dated December 4, 2012, and Invesco
        Unit Trusts, Series 1520 (File No. 333-201408) dated March 12, 2015.

UNDERTAKING TO FILE REPORTS 

Subject to the terms and conditions of Section 15(d) of the Securities Exchange 
Act of 1934, the undersigned registrant hereby undertakes to file with the      
Securities and Exchange Commission such supplementary and periodic information, 
documents, and reports as may be prescribed by any rule or regulation of the    
Commission heretofore or hereafter duly adopted pursuant to authority conferred 
in that section.                                                                

SIGNATURES

The Registrant, Invesco Unit Trusts, Taxable Income Series 513, hereby          
identifies Van Kampen Merritt Insured Income Trust, Series 1; Insured Municipals
Income Trust and Investors' Quality Tax-Exempt Trust, Multi-Series 189,         
Multi-Series 213 and Multi-Series 300; Van Kampen Merritt Emerging Markets      
Income Trust, Series 1; Van Kampen Merritt Utility Income Trust, Series 1; Van  
Kampen Merritt Equity Opportunity Trust, Series 1, Series 2, Series 4 and Series
7; Van Kampen American Capital Equity Opportunity Trust, Series 13, Series 14,  
Series 57 and Series 89; Van Kampen Focus Portfolios, Series 235, Series 265,   
Series 314, Series 366 and Series 402; Van Kampen Focus Portfolios, Taxable     
Income Series 47; and Van Kampen Unit Trusts, Series 427, Series 450, Series    
687, Series 855, Series 894, Series 963, Series 984, Series 1027, Series 1050,  
Series 1129, Series 1135, Series 1178, Series 1179, Series 1190, Series 1194,   
Series 1195, Series 1198, Series 1201, Series 1203, Series 1205, Series 1272,   
Series 1275 and Series 1279; Invesco Unit Trusts, Series 1281; and Invesco Unit 
Trusts, Taxable Income Series 466 for purposes of the representations required  
by Rule 487 and represents the following: (1) that the portfolio securities     
deposited in the series as to the securities of which this Registration         
Statement is being filed do not differ materially in type or quality from those 
deposited in such previous series; (2) that, except to the extent necessary to  
identify the specific portfolio securities deposited in, and to provide         
essential financial information for, the series with respect to the securities  
of which this Registration Statement is being filed, this Registration Statement
does not contain disclosures that differ in any material respect from those     
contained in the registration statements for such previous series as to which   
the effective date was determined by the Commission or the staff; and (3) that  
it has complied with Rule 460 under the Securities Act of 1933.                 

Pursuant to the requirements of the Securities Act of 1933, the Registrant,     
Invesco Unit Trusts, Taxable Income Series 513, has duly caused this Amendment  
to the Registration Statement to be signed on its behalf by the undersigned,    
thereunto duly authorized, in the City of Chicago and State of Illinois on the  
24th day of April, 2015.                                                        

                                  INVESCO UNIT TRUSTS, TAXABLE INCOME SERIES 513

                                 BY: INVESCO CAPITAL MARKETS, INC., as Depositor

                                                         By: /s/ JOHN F. TIERNEY
                                                         -----------------------
                                                                  Vice President

Pursuant to the requirements of the Securities Act of 1933, this Amendment to   
the Registration Statement has been signed below on April 24, 2015, by the      
following persons who constitute the principal officers and a majority of the   
Board of Directors of Invesco Capital Markets, Inc.                             

SIGNATURE                            TITLE                    

Steven Massoni                       Director and Co-President                  

M. Kevin Cronin                      Director and Co-President                  

Mark W. Gregson                      Chief Financial Officer                    

                                                         By: /s/ JOHN F. TIERNEY
                                                         -----------------------
                                                             (Attorney-in-fact*)

---------------------                                                           
*    An executed copy of each of the related powers of attorney is filed        
   herewith or incorporated herein by reference as set forth in Exhibit 7.1.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘487’ Filing		Date		Other Filings
		1/1/17
		5/25/15
		4/29/15
Filed on / Effective on:		4/24/15
		4/20/15
		3/12/15		S-6
		12/31/14
		12/10/12
		12/4/12
		8/5/11
		7/21/10
		6/2/10
		3/30/10
		5/18/05
		1/2/02
				List all Filings