2002 Target Term Trust - update.NEW YORK--(BUSINESS WIRE)--Jan. 12, 1996--2002 Target Term Trust Inc., (NYSE NYSE See: New York Stock Exchange :TTR TTR Transthyretin TTR Ticket To Ride (World Snowboard Tour) TTR Transformer Turns Ratio (electric power transmission and distribution) TTR Time To Repair TTR Time to Read ) is a closed-end management investment company investing in high quality fixed-income and adjustable-rate securities. As described in the prospectus, the Trust matures in November 2002 and will liquidate all of its assets and distribute the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to shareholders. While the portfolio is being managed in an effort to return the initial offering price of $15 per share, this is not guaranteed. Portfolio Composition (Nov. 30, 1995) (as a percent of portfolio assets) CMOs 63.6% Private Adjustable Rate Mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. 9.5 Agency Adjustable Rate Mortgages 3.6 Agency Mortgage-Backed Securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. 9.5 Other 7.0 Weighted Average Maturity 8.2 Years Weighted Average Duration 5.3 Years Portfolio Composition (Dec. 30, 1995) (as a percent of portfolio assets) CMOs 62.0% Private Adjustable Rate Mortgages 21.5 Agency Adjustable Rate Mortgages 6.9 Agency Mortgage-Backed Securities 13.1 Other 6.5 Weighted Average Maturity 9.4 Years Weighted Average Duration 5.3 Years CONTACT: 2002 Target Term Trust Inc. Linda Buckley, 201/902-5450 |
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