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MORGAN STANLEY DEAN WITTER
[LOGO] UNIT INVESTMENT TRUST
SELECT EQUITY TRUSTS
THE COMPETITIVE EDGE
"BEST IDEAS" PORTFOLIO
SERIES 99-3
(A Unit Investment Trust)
- - FIXED PORTFOLIO
- - CAPITAL APPRECIATION POTENTIAL
- - GLOBAL DIVERSIFICATION
- - EASY LIQUIDITY
UNITS OF THE TRUST ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED OR ENDORSED
BY, ANY BANK, AND THE UNITS ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE
CORPORATION, FEDERAL RESERVE BOARD OR ANY OTHER AGENCY. INVESTMENT IN UNITS OF
THE TRUST IS SUBJECT TO INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF THE
PRINCIPAL AMOUNT INVESTED.
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SUMMARY OF ESSENTIAL INFORMATION
AS OF JULY 22, 1999
SIZE OF OFFERING
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Aggregate Value of Securities.... $245,926.15
Number of Units.................. 24,816
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PRICE
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Public Offering Price Per Unit
(including sales charge)..... $10.00
Minimum Purchase: $1,000
Public Offering Price Per 100
Units (including sales
charge)...................... $1,000
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RECORD DATES
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March 1, 2000 and October 24, 2000
DISTRIBUTION DATES
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March 15, 2000 and on or about October 31, 2000
TERMINATION DATE
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October 24, 2000
SALES CHARGE
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The one-year sales charge is 2.90% of the Public Offering Price of which $20 per
100 Units is deferred. The one-year deferred sales charge generally is paid from
the proceeds of securities sold each month commencing October 29, 1999 ($2.00
per 100 Units per month for 10 months). Volume discounts begin on orders of
$25,000 or more.
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TRUSTEE SPONSOR
The Bank of New York Dean Witter Reynolds
101 Barclay Street Inc.
New York, NY 10286 2 World Trade Center
New York, NY 10048
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MORGAN STANLEY DEAN WITTER IS A SERVICE MARK OF MORGAN STANLEY DEAN WITTER &
CO.
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INVEST IN THE 40 "BEST IDEAS" STOCKS IN TODAY'S GLOBAL
MARKET PLACE FOR AS LITTLE AS $1,000 ($100 FOR IRAS OR DIRECT INVEST)
YOUR EDGE FOR GLOBAL INVESTING
The Morgan Stanley Dean Witter Competitive Edge "Best Ideas" Portfolio brings
together the research, the expertise and the diversification needed to invest in
today's global market place. This unit investment trust features a fixed
Portfolio of professionally selected stocks, representing Morgan Stanley Dean
Witter (MSDW) Global Equity Research Group's July 1999 Competitive Edge "Best
Ideas" list of common stocks. With the purchase of the Competitive Edge unit
trust, the investor has access to a portfolio that encompasses a world-class
collection of companies--each of which is considered by MSDW to be a global
leader within its industry.
FULLY LIQUID INVESTMENT
All or a portion of your units may be sold at any time, based on the net asset
value of the securities in the portfolio (including deductions for any remaining
deferred sales charge), which may be more or less than the original price paid.
AUTOMATIC DIVIDEND REINVESTMENT
Investors may elect to have distributions automatically reinvested in additional
units of the portfolio, subject to any remaining deferred sales charge.
SUITABLE FOR RETIREMENT ACCOUNTS
This Trust may be an attractive investment vehicle for a self-directed IRA or
self-employed retirement plan ("Keogh plan"). Unless held in an IRA or other
tax-deferred vehicle, there may be current tax consequences associated with an
investment in this type of unit investment trust. As a capital
appreciation-oriented investment it may be a suitable complement to help
increase the growth potential of an investor's overall portfolio.
SHORT-TERM LIFE
Unitholders may choose to hold their units for approximately one year. The
portfolio will then either be liquidated or distributed to unitholders in-kind
at their election. Investors may, of course, sell or redeem their units at any
time prior to the Trust's termination.
ROLLOVER OPTION
Investors, in connection with the Trust's termination, may elect to roll over
their investment into units of a new series, if offered, subject only to the
deferred sales charge.
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FOR A COPY OF THE PROSPECTUS CONTAINING MORE COMPLETE INFORMATION INCLUDING
CHARGES, EXPENSES AND RISKS, CONTACT YOUR FINANCIAL ADVISOR. READ THE PROSPECTUS
CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
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MORGAN STANLEY DEAN WITTER
DIRECT INVEST-SM-
DIRECT INVEST is an automatic investment program that can help individuals
invest for the future, now. Morgan Stanley Dean Witter created DIRECT INVEST
because preparing for the future, such as financing a college education, a down
payment on a new house, or retirement, can be difficult. Through DIRECT INVEST,
regular deductions from a checking or savings account or Morgan Stanley Dean
Witter Active Assets-Registered Trademark- Accounts are used to purchase units
of the MORGAN STANLEY DEAN WITTER COMPETITIVE EDGE "BEST IDEAS" PORTFOLIO
without writing any checks! The program has the additional benefits of allowing
investors to choose their own investment schedule, either once a month, twice a
month or quarterly, and also to create a purchase rate that fits into their
budget. DIRECT INVEST does not assure a profit and does not protect against loss
in declining markets.
RISKS
Investors should note that MSDW Global Equity Research continually reviews and
updates its Competitive Edge Best Ideas list. The list is expected to change,
and may substantially change, over the life of the Trust.
The portfolio of the Trust is an unmanaged, fixed portfolio. It is based on a
longer term strategy, taking the July 1999 Competitive Edge Best Ideas list and
holding these stocks for the life of the Trust. Regardless of any changes to the
list, the identity and proportionate relationship of the Trust's securities is
expected to remain the same as shown in "Schedule of Portfolio Securities".
Therefore, the performance of the Trust will vary from the list.
The Trust is not an appropriate investment for those seeking high current income
or capital preservation. Investors must be able and willing to assume the risks
associated with equity investing in a fixed portfolio of common stocks. Risks of
investing in common stocks such as the Trust's securities include price
volatility resulting from factors affecting particular common stock and the
equity markets in general. Equity markets have been at historically high levels
and no assurance can be given that these levels will continue.
In addition, the Portfolio will contain securities of non-U.S. issuers, which
may involve risks that are different from those involved in holding securities
of domestic issuers. These include currency risk, the risk of future political
and economic developments, as well as price volatility. Read the prospectus for
more complete risk information.
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SCHEDULE OF PORTFOLIO SECURITIES
THE COMPETITIVE EDGE "BEST IDEAS" PORTFOLIO SERIES 99-3
ON DATE OF DEPOSIT, JULY 22, 1999
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PROPORTIONATE PERCENTAGE
RELATIONSHIP OF AGGREGATE PRICE PER
PORTFOLIO NUMBER OF BETWEEN NO. MARKET VALUE SHARE TO
NO. NAME OF COMMON STOCK ISSUER SHARES OF SHARES OF TRUST TRUST
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<C> <S> <C> <C> <C> <C>
1. AXA-UAP 50 0.69% 2.48% $ 121.7638
2. America Online, Inc. 56 0.77 2.51 110.4375
3. American Express Co. 45 0.62 2.51 137.0000
4. American Home Products Corp. 118 1.62 2.50 52.1875
5. The Bank of New York Company, Inc. 165 2.26 2.55 37.9375
6. Bayerische Motorenwerke AG (BMW) 8 0.11 2.40 737.1013
7. British Telecommunications PLC 359 4.92 2.48 16.9871
8. Cisco Systems, Inc. 101 1.39 2.51 61.1250
9. Clear Channel Communications, Inc. 88 1.21 2.54 71.0625
10. Coca-Cola Enterprises, Inc. 220 3.02 2.51 28.0625
11. Groupe Danone 24 0.33 2.57 262.8750
12. Diageo PLC 609 8.35 2.46 9.9528
13. DuPont (E.I.), de Nemours & Co. 85 1.17 2.49 72.0000
14. EMC Corporation 102 1.40 2.49 60.1250
15. Emerson Electric Co. 100 1.37 2.52 62.0000
16. FDX Corp. 134 1.84 2.52 46.2500
17. Fujitsu Ltd. 251 3.44 2.50 24.4604
18. General Electric Co. 55 0.75 2.57 114.8750
19. HSBC Holdings 514 7.05 2.53 12.1134
20. Halliburton 142 1.95 2.53 43.8125
21. Heineken N.V. 117 1.60 2.50 52.5750
22. Holderbank Financiere Glarus AG 5 0.07 2.33 1,144.8380
23. Intel Corp. 97 1.33 2.52 63.8750
24. Invensys 1,173 16.09 2.56 5.3610
25. Lucent Technologies Inc. 91 1.25 2.53 68.2500
26. MCI-Worldcom Inc. 71 0.97 2.49 86.3125
27. Matsushita Electric Industrial Company 275 3.77 2.49 22.3021
28. Medtronic, Inc. 86 1.18 2.53 72.3750
29. Microsoft Corp. 68 0.93 2.52 91.0625
30. News Corp. Ltd. 758 10.39 2.50 8.0950
31. Quintiles Transnational Corp. 154 2.11 2.43 38.7500
32. Schlumberger Ltd. 102 1.40 2.53 61.0000
33. Shin-Etsu Chemical 175 2.40 2.47 34.7017
34. Skandia Forsakring 326 4.47 2.52 18.9752
35. Sony Corp. 51 0.70 2.43 117.2239
36. Time Warner Inc. 82 1.12 2.48 74.3125
37. TOTAL S.A. 47 0.64 2.46 128.7036
38. Tyco International Ltd. 62 0.85 2.53 100.5000
39. UPM-Kymmene OY 188 2.58 2.49 32.5965
40. Wal-Mart Stores Inc. 138 1.89 2.54 45.1875
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7,292
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