Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated member New York Stock Exchange/SIPC, acted as the lead underwriters in connection with the proposed offering. There can be no assurance that the Fund’s investment objective will be achieved or that the Fund’s investment program will be successful. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle. Investors could lose some or all of their investment. For a summary of the risks associated with an investment in the Fund, please see the “Risk Factors” section of the final prospectus.
The Fund intends to use leverage. Leverage involves the use of various financial instruments or borrowings in an attempt to increase the return of an investment. The use of leverage involves risk, including the potential for higher volatility and greater declines of the Fund’s net asset value, and fluctuations of dividends and other distributions paid by the Fund. For additional risk information, see the “Leverage” section of the final prospectus.
Certain securities in which the Fund will invest are expected to be rated below investment grade. Such securities are regarded as having predominately speculative characteristics with respect to an issuer’s capacity to pay interest and repay principal and are commonly referred to as “high yield” securities or “junk” bonds.