<PAGE>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 17, 2000
REGISTRATION NO. 333-33398
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------------------------
AMENDMENT NO. 1
TO
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:
EQUITY INVESTOR FUND
CONCEPT SERIES
BABY BOOM ECONOMY PORTFOLIO
2000 GROWTH SERIES A
DEFINED ASSET FUNDS
B. NAMES OF DEPOSITORS:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
PAINEWEBBER INCORPORATED
C. COMPLETE ADDRESSES OF DEPOSITORS' PRINCIPAL EXECUTIVE OFFICES:
<TABLE>
<S> <C>
MERRILL LYNCH, PIERCE, PAINEWEBBER INCORPORATED
FENNER & SMITH 1285 AVENUE OF THE
INCORPORATED AMERICAS
DEFINED ASSET FUNDS NEW YORK, NY 10019
P.O. BOX 9051
PRINCETON, NJ 08543-9051
</TABLE>
D. NAMES AND COMPLETE ADDRESSES OF AGENTS FOR SERVICE:
<TABLE>
<CAPTION>
<S> <C> <C>
TERESA KONCICK, ESQ. COPIES TO: ROBERT E. HOLLEY
P.O. BOX 9051 PIERRE DE SAINT PHALLE, 1200 HARBOR BLVD.
PRINCETON, NJ 08543-9051 ESQ. WEEHAUKEN, NJ 07087
450 LEXINGTON AVENUE
NEW YORK, NY 10017
</TABLE>
E. TITLE OF SECURITIES BEING REGISTERED:
An indefinite number of Units of Beneficial Interest pursuant to Rule 24f-2
promulgated under the Investment Company Act of 1940, as amended.
F. APPROXIMATE DATE OF PROPOSED SALE TO PUBLIC.
As soon as practicable after the effective date of the registration statement.
/X/ Check box if it is proposed that this Registration Statement shall become
effective upon filing on April 17, 2000, pursuant to Rule 487.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
DEFINED ASSET FUNDS--REGISTERED TRADEMARK--
----------------------------------------------------
EQUITY INVESTOR FUND
CONCEPT SERIES
BABY BOOM ECONOMY PORTFOLIO
2000 GROWTH SERIES A
(A UNIT INVESTMENT TRUST)
- DESIGNED TO TAKE ADVANTAGE OF THE ECONOMIC IMPACT
OF THE BABY BOOM GENERATION
-----------------------------------------------------
SPONSORS: The Securities and Exchange Commission has not
MERRILL LYNCH, approved or disapproved these Securities or passed
PIERCE, FENNER & SMITH upon the adequacy of this prospectus. Any
INCORPORATED representation to the contrary is a criminal offense.
PAINEWEBBER INCORPORATED Prospectus dated April 17, 2000.
<PAGE>
- --------------------------------------------------------------------------------
Defined Asset Funds-SM-
Defined Asset Funds-Registered Trademark- is America's oldest and largest family
of unit investment trusts, with over $160 billion sponsored over the last 28
years. Defined Asset Funds has been a leader in unit investment trust research
and product innovation. Our family of Funds helps investors work toward their
financial goals with a full range of quality investments, including municipal,
corporate and government bond portfolios, as well as domestic and international
equity portfolios.
Defined Asset Funds offer a number of advantages:
- A disciplined strategy of buying and holding with a long-term view is the
cornerstone of Defined Asset Funds.
- Fixed Portfolio: Defined Funds follow a buy and hold investment strategy;
funds are not managed and portfolio changes are limited.
- Defined Portfolios: We choose the stocks and bonds in advance, so you know
what you're investing in.
- Professional Research: Our dedicated research team seeks out stocks or bonds
appropriate for a particular fund's objectives.
- Ongoing Supervision: We monitor each portfolio on an ongoing basis.
No matter what your investment goals, risk tolerance or time horizon, there's
probably a Defined Asset Fund that suits your investment style. Your financial
professional can help you select a Defined Asset Fund that works best for your
investment portfolio.
<TABLE>
<S> <C>
CONTENTS
PAGE
----
Risk/Return Summary.................... 3
What You Can Expect From Your
Investment........................... 6
Income............................... 6
Records and Reports.................. 6
The Risks You Face..................... 6
Concentration Risk................... 6
Foreign Issuer Risk.................. 6
Litigation and Legislation Risks..... 7
Selling or Exchanging Units............ 7
Sponsors' Secondary Market........... 8
Selling Units to the Trustee......... 8
Rollover/Exchange Option............. 8
How The Fund Works..................... 9
Pricing.............................. 9
Evaluations.......................... 10
Income............................... 10
Expenses............................. 10
Portfolio Changes.................... 11
Portfolio Termination................ 11
No Certificates...................... 12
Trust Indenture...................... 12
Legal Opinion........................ 12
Auditors............................. 13
Sponsors............................. 13
Trustee.............................. 13
Underwriters' and Sponsors'
Profits............................ 13
Public Distribution.................. 14
Code of Ethics....................... 14
Year 2000 Issues..................... 14
Advertising and Sales Material....... 14
Taxes.................................. 15
Supplemental Information............... 17
Financial Statements................... 18
Report of Independent Accountants.... 18
Statement of Condition............... 18
</TABLE>
2
<PAGE>
- --------------------------------------------------------------------------------
RISK/RETURN SUMMARY
<TABLE>
<C> <S>
1. WHAT IS THE PORTFOLIO'S OBJECTIVE?
- The Portfolio seeks capital appreciation
by investing in a diversified portfolio
of global equity securities for
approximately one year.
You can participate in the Portfolio by
purchasing units. Each unit represents
an equal share of the stocks in the
Portfolio and receives an equal share of
dividend income.
2. WHAT IS THE PORTFOLIO'S INVESTMENT
STRATEGY?
- The Portfolio plans to invest in a
number of stocks favored by demographic
trends--companies which should
experience growth as the "baby boomer"
generation grows older. Our Portfolio
Consultants are Wall Street veterans
William Sterling and Stephen Waite,
authors of the book "Boomernomics," and
authorities on the trends of baby
boomers. Sterling and Waite, together
with their team of financial
professionals, selected the securities
for this Portfolio. They believe that in
the decade to come, economic
globalization and advances in
technology, coupled with the spending
and saving patterns of this demographic
group, are likely to have an important
impact on the healthcare, technology,
telecommunications, consumer products
and financial services industries, and
accordingly, have selected Portfolio
securities in these industries.
- The baby boomers, the generation born
between 1946 and 1964, have remarkably
consistent saving, spending and
life-style patterns. Past baby boomer
spending patterns appear to have a
direct correlation to the growth of
certain industries that meet the needs
of baby boomers.
- The Sponsors believe that as the baby
boomers and their children mature and
adjust their lives for later years,
spending patterns are likely to have a
positive effect on the industries
represented in the Portfolio.
- We plan to hold the stocks in the
Portfolio for about one year. At the end
of the year, we will liquidate the
Portfolio and intend to apply the same
Strategy to select a new portfolio, if
available.
- Each Baby Boom Economy Portfolio is
designed to be part of a longer term
strategy. We believe that more
consistent results are likely if the
strategy is followed for at least three
to five years, but you are not required
to stay with the strategy or to roll
over your investment. You can sell your
units at any time.
3. WHAT COUNTRIES AND INDUSTRIES ARE
REPRESENTED IN THE PORTFOLIO?
Based on current market values, the
following countries are represented in
the Portfolio:
</TABLE>
<TABLE>
United States 61%
Japan 11
United Kingdom 8
<C> <S>
Sweden 5
Canada 4
Switzerland 4
Finland 3
France 2
Netherlands 1
Singapore 1
</TABLE>
<TABLE>
<C> <S>
Based upon the principal business of
each issuer and current market values,
the Portfolio represents the following
industries:
</TABLE>
<TABLE>
Financial Sciences 24%
<C> <S>
Technology 22
Health Sciences 19
Telecommunications/Equipment 18
Consumer Products 13
Diversified Manufacturing Operations 3
Utilities 1
</TABLE>
<TABLE>
<C> <S>
4. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE
PORTFOLIO. THIS CAN HAPPEN FOR VARIOUS
REASONS, INCLUDING:
- Domestic and international stock prices
can be volatile. Market factors may
cause the prices of the stocks to
change.
</TABLE>
3
<PAGE>
- --------------------------------------------------------------------------------
Portfolio
- -------------------------------------------------------------------
Baby Boom Economy Portfolio 2000 Growth Series A
Defined Asset Funds
<TABLE>
<CAPTION>
PRICE PER SHARE
PERCENTAGE OF TO PORTFOLIO COST TO PORTFOLIO
LOCATION AND NAME OF ISSUER PORTFOLIO (1) IN U.S. DOLLARS IN U.S. DOLLARS (2)
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------
CANADA
1. Ballard Power Systems, Inc.*+ 1.02% $ 66.5000 $ 12,568.50
2. Nortel Networks Corporation+ 2.01 91.9375 24,731.19
3. PMC-Sierra, Inc.*+ 0.98 118.4375 12,080.63
FINLAND
4. Nokia Corporation+ 1.02 45.0000 12,555.00
5. Sonera Corporation+ 2.04 49.9844 24,992.19
FRANCE
6. Axa+ 2.02 71.8125 24,775.31
JAPAN
7. DDI Corporation+ 0.86 10,585.5426 10,585.54
8. Fuji Soft ABC, Inc.+ 0.91 56.0748 11,214.95
9. Nintendo Company Ltd.+ 1.89 19.3750 23,250.00
10. Nippon Telegraph & Telephone
Corporation+ 2.00 65.5000 24,562.50
11. NTT Data Corporation+ 1.20 14,781.6136 14,781.61
12. NTT DoCoMo, Inc.+ 1.45 178.5000 17,850.00
13. Softbank Corporation+ 0.95 584.5890 11,691.78
14. Sony Corporation+ 2.00 234.0625 24,576.56
NETHERLANDS
15. Equant N.V.*+ 1.02 70.0000 12,530.00
16. ING Groep N.V.+ 0.51 58.1810 6,225.36
SINGAPORE
17. DBS Group Holdings Limited+ 0.56 13.7644 6,882.21
SWEDEN
18. Skandia Forsakrings AB+ 3.03 41.7887 37,191.92
19. Telefonaktiebolaget LM Ericsson
AB+ 1.51 71.9531 18,491.95
</TABLE>
- ----------------------------
(1) Based on Cost to Portfolio in U.S. dollars.
(2) Valuation by the Trustee made on the basis of closing sale prices at the
evaluation time on April 14, 2000, the business day prior to the initial
date of deposit. The value of the Securities on any subsequent business day
will vary.
+ The issuer is a foreign corporation; dividends, if any, may be subject to
withholding taxes.
* These stocks currently do not pay dividends.
--------------------------------
The securities were acquired on April 14, 2000 and are represented entirely by
contracts to purchase the securities. Any of the Sponsors may have acted as
underwriters, managers or co-managers of a public offering of the securities in
this Portfolio during the last three years. Affiliates of the Sponsors may serve
as specialists in the securities in this Portfolio on one or more stock
exchanges and may have a long or short position in any of these securities or
options on any of them, and may be on the opposite side of public orders
executed on the floor of an exchange where the securities are listed. An
officer, director or employee of any of the Sponsors may be an officer or
director of one or more of the issuers of the securities in the Portfolio. A
Sponsor may trade for its own account as an odd-lot dealer, market maker, block
positioner and/or arbitrageur in any of the securities or in options on them.
Any Sponsor, its affiliates, directors, elected officers and employee benefits
programs may have either a long or short position in any securities or in
options on them.
--------------------------------
PLEASE NOTE THAT IF THIS PROSPECTUS IS USED AS A PRELIMINARY
PROSPECTUS
FOR A FUTURE PORTFOLIO IN THIS SERIES, THE PORTFOLIO WILL
CONTAIN DIFFERENT
STOCKS FROM THOSE DESCRIBED ABOVE.
<PAGE>
- --------------------------------------------------------------------------------
Portfolio
- -------------------------------------------------------------------
Baby Boom Economy Portfolio 2000 Growth Series A
Defined Asset Funds
<TABLE>
<CAPTION>
PRICE PER SHARE
PERCENTAGE OF TO PORTFOLIO COST TO PORTFOLIO
LOCATION AND NAME OF ISSUER PORTFOLIO (1) IN U.S. DOLLARS IN U.S. DOLLARS (2)
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------
SWITZERLAND
20. Julius Baer Holding Ltd.+ 2.17% $ 3,810.7432 $ 26,675.20
21. Novartis AG+ 0.48 1,463.3254 5,853.30
22. Phonak Holding AG+ 0.58 2,377.9038 7,133.71
23. Roche Holding AG+ 0.51 108.0000 6,264.00
UNITED KINGDOM
24. ARM Holdings PLC*+ 1.00 51.2574 12,250.52
25. COLT Telecom Group PLC*+ 1.52 43.8260 18,626.07
26. Glaxo Wellcome PLC+ 1.51 29.0586 18,481.25
27. Lloyds TSB Group PLC+ 0.50 10.4484 6,133.20
28. SmithKline Beecham PLC+ 0.50 13.1716 6,177.49
29. Vodafone AirTouch PLC+ 1.96 4.7677 24,067.20
30. WPP Group PLC+ 1.00 14.1958 12,293.59
UNITED STATES
31. Abgenix, Inc.* 0.51 66.8750 6,219.38
32. America Online, Inc.* 1.00 54.3750 12,234.38
33. American Home Products
Corporation 0.50 55.1250 6,118.88
34. American International Group,
Inc. 2.04 103.5625 25,062.13
35. Best Buy Co., Inc.* 1.53 70.1250 18,723.38
36. Bristol-Myers Squibb Company 1.02 63.3750 12,484.88
37. Broadcom Corporation* 1.04 122.2500 12,714.00
38. The Charles Schwab Corporation 0.97 39.5000 11,929.00
39. The Chase Manhattan Corporation 2.04 78.8750 25,003.38
40. Chiron Corporation* 0.46 39.0625 5,703.13
41. Circuit City Stores-Circuit
City Group 1.54 50.4375 18,914.06
42. Cisco Systems, Inc.* 1.99 57.0000 24,453.00
43. Citigroup, Inc. 2.52 57.6250 30,887.00
44. CuraGen Corporation* 0.45 25.0000 5,475.00
45. Dell Computer Corporation* 1.50 47.6250 18,383.25
</TABLE>
- ----------------------------
(1) Based on Cost to Portfolio in U.S. dollars.
(2) Valuation by the Trustee made on the basis of closing sale prices at the
evaluation time on April 14, 2000, the business day prior to the initial
date of deposit. The value of the Securities on any subsequent business day
will vary.
+ The issuer is a foreign corporation; dividends, if any, may be subject to
withholding taxes.
* These stocks currently do not pay dividends.
--------------------------------
The securities were acquired on April 14, 2000 and are represented entirely by
contracts to purchase the securities. Any of the Sponsors may have acted as
underwriters, managers or co-managers of a public offering of the securities in
this Portfolio during the last three years. Affiliates of the Sponsors may serve
as specialists in the securities in this Portfolio on one or more stock
exchanges and may have a long or short position in any of these securities or
options on any of them, and may be on the opposite side of public orders
executed on the floor of an exchange where the securities are listed. An
officer, director or employee of any of the Sponsors may be an officer or
director of one or more of the issuers of the securities in the Portfolio. A
Sponsor may trade for its own account as an odd-lot dealer, market maker, block
positioner and/or arbitrageur in any of the securities or in options on them.
Any Sponsor, its affiliates, directors, elected officers and employee benefits
programs may have either a long or short position in any securities or in
options on them.
--------------------------------
PLEASE NOTE THAT IF THIS PROSPECTUS IS USED AS A PRELIMINARY
PROSPECTUS
FOR A FUTURE PORTFOLIO IN THIS SERIES, THE PORTFOLIO WILL
CONTAIN DIFFERENT
STOCKS FROM THOSE DESCRIBED ABOVE.
<PAGE>
- --------------------------------------------------------------------------------
Portfolio
- -------------------------------------------------------------------
Baby Boom Economy Portfolio 2000 Growth Series A
Defined Asset Funds
<TABLE>
<CAPTION>
PRICE PER SHARE
PERCENTAGE OF TO PORTFOLIO COST TO PORTFOLIO
LOCATION AND NAME OF ISSUER* PORTFOLIO (1) IN U.S. DOLLARS IN U.S. DOLLARS (2)
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------
UNITED STATES--CONTINUED
46. Eli Lilly and Company 1.02% $ 67.4375 $ 12,543.38
47. EMC Corporation* 1.53 111.2500 18,801.25
48. Genentech, Inc.* 2.10 128.0000 25,728.00
49. General Electric Company 2.51 144.6250 30,805.13
50. The Goldman Sachs Group, Inc. 2.02 82.7500 24,825.00
51. The Home Depot, Inc. 1.51 57.5625 18,477.56
52. Human Genome Sciences, Inc.* 0.50 62.8750 6,161.75
53. ImClone Systems, Inc.* 0.50 69.0000 6,141.00
54. Immunex Corporation* 0.92 43.8750 11,232.00
55. Intel Corporation 1.47 110.5000 18,011.50
56. JDS Uniphase Corporation* 1.92 79.6250 23,569.00
57. Johnson & Johnson 1.51 73.6250 18,553.50
58. Lowe's Companies, Inc. 1.52 55.5000 18,648.00
59. MCI WorldCom, Inc.* 0.50 38.0000 6,156.00
60. Medimmune, Inc.* 0.99 137.5000 12,100.00
61. Merck & Company, Inc. 0.51 63.5625 6,229.13
62. Microsoft Corporation* 2.02 74.1250 24,757.75
63. Millenium Pharmaceuticals,
Inc.* 0.51 115.0000 6,210.00
64. Morgan Stanley Dean Witter &
Co. 3.08 67.3750 37,797.38
65. Motorola, Inc. 0.98 109.0000 12,099.00
66. Network Appliance, Inc.* 1.49 50.3750 18,286.13
67. Northern Trust Corporation 2.53 57.8125 31,103.13
68. Oracle Corporation* 1.47 63.5156 18,101.95
69. Pfizer, Inc. 2.06 37.7500 25,254.75
70. Schering-Plough Corporation 1.03 40.7500 12,632.50
71. Sepracor, Inc.* 1.00 71.1875 12,315.44
72. Texas Instruments, Inc. 0.99 131.7500 12,121.00
73. Wal-Mart Stores, Inc. 1.49 55.0625 18,280.75
74. Warner-Lambert Company 1.07 104.0000 13,104.00
75. Xilinx, Inc.* 1.43 58.1250 17,553.75
------ -------------
100.00% $1,227,397.31
====== =============
</TABLE>
- ----------------------------
(1) Based on Cost to Portfolio in U.S. dollars.
(2) Valuation by the Trustee made on the basis of closing sale prices at the
evaluation time on April 14, 2000, the business day prior to the initial
date of deposit. The value of the Securities on any subsequent business day
will vary.
+ The issuer is a foreign corporation; dividends, if any, may be subject to
withholding taxes.
* These stocks do not pay dividends.
--------------------------------
The securities were acquired on April 14, 2000 and are represented entirely by
contracts to purchase the securities. Any of the Sponsors may have acted as
underwriters, managers or co-managers of a public offering of the securities in
this Portfolio during the last three years. Affiliates of the Sponsors may serve
as specialists in the securities in this Portfolio on one or more stock
exchanges and may have a long or short position in any of these securities or
options on any of them, and may be on the opposite side of public orders
executed on the floor of an exchange where the securities are listed. An
officer, director or employee of any of the Sponsors may be an officer or
director of one or more of the issuers of the securities in the Portfolio. A
Sponsor may trade for its own account as an odd-lot dealer, market maker, block
positioner and/or arbitrageur in any of the securities or in options on them.
Any Sponsor, its affiliates, directors, elected officers and employee benefits
programs may have either a long or short position in any securities or in
options on them.
--------------------------------
PLEASE NOTE THAT IF THIS PROSPECTUS IS USED AS A PRELIMINARY
PROSPECTUS
FOR A FUTURE PORTFOLIO IN THIS SERIES, THE PORTFOLIO WILL
CONTAIN DIFFERENT
STOCKS FROM THOSE DESCRIBED ABOVE.
<PAGE>
- --------------------------------------------------------------------------------
RISK/RETURN SUMMARY (CONTINUED)
<TABLE>
<C> <S>
- Because the Portfolio is concentrated in
stocks of the financial services
industry, adverse developments in this
industry may affect the value of your
units. Risks associated with financial
institutions include, among other things:
-- changes in interest rates;
-- availability and cost of funds; and
-- government regulation.
- This Portfolio contains a number of
foreign securities. Some of the risks of
holding foreign securities include:
-- political/economic developments;
-- withholding taxes;
-- exchange controls or local
restrictions on dividend payments;
-- currency risk;
-- less available public information; and
-- less liquidity.
- The Portfolio may continue to purchase or
hold the stocks originally selected even
though their market value may have
changed or they may be subject to sell
recommendations from one or more of the
Sponsors.
- Even if there are no changes in the
Portfolio securities from year to year,
you still must pay tax on any gain.
5. IS THIS PORTFOLIO APPROPRIATE FOR YOU?
- The Portfolio was designed to meet the
financial needs of investors who still
have a substantial number of years ahead
of them in the workforce, and therefore
can afford to take the risks that may
yield a better reward.
- The Portfolio can also represent a
portion of the equity investment in your
diversified Portfolio.
- When it comes to investing, it's
important to balance how much risk you're
willing to take with your investment
portfolio, with the reward that you want
for the long-term. One way to do this is
to find the appropriate allocation of
stocks and bonds to provide the growth
you want, with a risk level that is
comfortable for you. If you are
interested in adding growth to your
investment portfolio, it may be
appropriate for you to invest heavily in
stocks.
- The Portfolio is not appropriate for you
if you are not comfortable with the
Strategy or are unwilling to take the
risk involved with an equity investment.
It may not be appropriate for you if you
are seeking preservation of capital or
high current income.
6. WHAT ARE THE PORTFOLIO'S FEES AND
EXPENSES?
This table shows the costs and expenses
you may pay, directly or indirectly, when
you invest in the Portfolio.
ESTIMATED ANNUAL OPERATING EXPENSES
</TABLE>
<TABLE>
<CAPTION>
AS A %
OF AMOUNT
NET PER 1,000
ASSETS UNITS
------ ---------
<C> <S> <C> <C>
.084 % $0.83
Trustee's Fee
.150 % $1.49
Consultant's Fee
.071 % $0.70
Portfolio Supervision,
Bookkeeping and
Administrative Fees
.250 % $2.48
Creation and
Development Fee
.057 % $0.56
Other Operating Expenses
------- -----
.612 % $6.06
TOTAL
</TABLE>
<TABLE>
<C> <S>
The Creation and Development Fee
(estimated at $0.00248 per unit)
compensates the Sponsors for the creation
and development of the Portfolio and is
computed based on the Portfolio's average
daily net asset value through the date of
collection. This fee historically had
been included in the sales fee.
</TABLE>
<TABLE>
<C> <S> <C>
ORGANIZATION COSTS per 1,000 units $0.96
(deducted from Portfolio assets at
the close of the initial offering
period)
</TABLE>
<TABLE>
<C> <S> <C>
INVESTOR FEES
2.50%
Maximum Sales Fee (Load) on new
purchases (as a percentage of $1,000
invested)
</TABLE>
<TABLE>
<C> <S>
You will pay an up-front sales fee of
approximately 1.00%, as well as a total
deferred sales fee of $15.00 ($2.50 per 1,000
units deducted from the Portfolio's net asset
value on September 1, 2000, and thereafter on
the first of each month through February 1,
2001).
</TABLE>
4
<PAGE>
<TABLE>
<C> <S>
EXAMPLE
This example may help you compare the
cost of investing in the Portfolio to the
cost of investing in other funds.
The example assumes that you invest
$10,000 in the Portfolio for the periods
indicated and sell all your units at the
end of those periods. The example also
assumes a 5% return on your investment
each year and that the Portfolio's
operating expenses stay the same.
Although your actual costs may be higher
or lower, based on these assumptions your
costs would be:
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
1 Year 3 Years 5 Years 10 Years
$323 $789 $1,282 $2,640
</TABLE>
<TABLE>
<CAPTION>
The aggregate fees and expenses will not
exceed the applicable NASD limit which is
6.25% of the initial public offering price.
<C> <S>
7. IS THE PORTFOLIO MANAGED?
Unlike a mutual fund, the Portfolio is not
managed and stocks are not sold because of
market changes. The Sponsors monitor the
portfolio and may instruct the Trustee to
sell securities under certain limited
circumstances. However, given the
investment philosophy of the Portfolio, the
Sponsors are not likely to do so.
8. HOW DO I BUY UNITS?
The minimum investment is $250.
You can buy units from the Sponsors and
other broker-dealers. Some banks may offer
units for sale through special arrangements
with the Sponsors, although certain legal
restrictions may apply.
UNIT PRICE PER 1,000 UNITS $999.91
(as of April 14, 2000)
Unit price is based on the net asset value
of the Portfolio plus the up-front sales
fee. Unit price also includes the estimated
organization costs shown on page 4, to
which no sales fee has been applied.
The Portfolio stocks are valued by the
Trustee on the basis of their closing
prices at 4:00 p.m. Eastern time every
business day. Unit price changes every day
with changes in the prices of the stocks.
9. HOW DO I SELL UNITS?
You may sell your units at any time to the
Sponsors or the Trustee for the net asset
value determined at the close of business
on the date of sale, less any remaining
deferred sales fee and the costs of
liquidating securities to meet the
redemption.
10. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays distributions of any dividend
income, net of expenses, on the 25th of
December, 2000 if you own units on the 10th
of this month. For tax purposes, you will
be considered to have received all the
dividends paid on your pro rata portion of
each security in the Portfolio when those
dividends are received by the Portfolio
regardless of when you receive
distributions and regardless of whether you
reinvest your dividends in the Portfolio. A
portion of the dividend payments may be
used to pay expenses of the Portfolio. If
you are a corporate investor, you may be
eligible for the dividends-received
deduction if you satisfy the applicable
holding period and other requirements.
Foreign investors' shares of dividends will
generally be subject to withholding taxes.
11. WHAT OTHER SERVICES ARE AVAILABLE?
REINVESTMENT
You may choose to reinvest your
distributions into additional units of the
Portfolio. Unless you choose reinvestment,
you will receive your distributions in
cash.
EXCHANGE PRIVILEGES
You may exchange units of this Portfolio
for units of certain other Defined Asset
Funds. You may also exchange into this
Portfolio from certain other funds. We
charge a reduced sales fee on exchanges.
</TABLE>
5
<PAGE>
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT
INCOME
The Portfolio will pay to you any income it has received two times during its
life. Because the Portfolio generally pays dividends as they are received,
individual income payments will fluctuate based upon the amount of dividends
declared and paid by each issuer. Other reasons your income may vary are:
- changes in the Portfolio because of additional securities purchased or sold;
- a change in the Portfolio's expenses; and
- the amount of dividends declared and paid.
There can be no assurance that any dividends will be declared or paid.
RECORDS AND REPORTS
You will receive:
- - a notice from the Trustee if new equity securities are deposited in exchange
or substitution for equity securities originally deposited;
- - a final report on Portfolio activity; and
- - annual tax information. THIS WILL ALSO BE SENT TO THE IRS. YOU MUST REPORT THE
AMOUNT OF INCOME RECEIVED DURING THE YEAR. PLEASE CONTACT YOUR TAX ADVISOR IN
THIS REGARD.
You may request audited financial statements of the Portfolio from the Trustee.
You may inspect records of Portfolio transactions at the Trustee's office during
regular business hours.
THE RISKS YOU FACE
CONCENTRATION RISK
When stocks in a particular industry make up 25% or more of the Portfolio, it is
said to be "concentrated" in that industry, which makes the Portfolio less
diversified. This Portfolio, however, is not considered to be concentrated in
any particular industry.
Here is what you should know about the Portfolio's concentration in stocks of
the financial services industry.
The profitability of a financial institution depends to a great extent on the
credit quality of its loan portfolio, which is affected by:
- the institution's underwriting criteria;
- concentrations within its loan portfolio; and
- general economic conditions.
A financial institution's operating performance is also impacted by:
- changes in interest rates;
- availability and cost of funds;
- intensity of competition; and
- degree of government regulation.
FOREIGN ISSUER RISK
Investments in securities of foreign issuers involve risks that are different
from investments in securities of domestic issuers. They may include:
- political and economic developments;
- possibility of withholding taxes;
- exchange controls or other governmental restrictions on the payment of
dividends;
- less publicly available information; and
- absence of uniform accounting, auditing and financial reporting standards,
practices and requirements.
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AMERICAN DEPOSITARY SHARES AND RECEIPTS
American depositary shares and receipts are issued by an American bank or trust
company to evidence ownership of underlying common stock issued by a foreign
corporation and deposited in a depositary facility. The terms and conditions of
the depositary facility may result in less liquidity or lower market prices for
the ADRs than for the underlying shares. Certain of the Portfolio Securities
were purchased in ADR form in the United States.
LIQUIDITY
Sales of foreign securities in United States securities markets are ordinarily
subject to severe restrictions and will generally be made only in foreign
securities markets. You should know that:
- securities may be traded in foreign countries where the securities markets
are not as developed or efficient and may not be as liquid as those in the
United States;
- a foreign market's liquidity might become impaired as a result of economic
or political turmoil, or if relations between the United States and such
foreign country deteriorate markedly; and
- the principal trading market for the Portfolio Securities, even if otherwise
listed, may be the over-the-counter market in which liquidity will depend on
whether dealers will make a market in the Portfolio Securities.
LITIGATION AND LEGISLATION RISKS
We do not know of any pending litigation that might have a material adverse
effect upon the Portfolio.
Future tax legislation could affect the value of the Portfolio by:
- reducing the dividends-received deduction; or
- increasing the corporate tax rate resulting in less money available for
dividend payments.
SELLING OR EXCHANGING UNITS
You can sell your units at any time for a price based on their net asset value.
Your net asset value is calculated each business day by:
- ADDING the value of the Portfolio Securities, cash and any other Portfolio
assets;
- SUBTRACTING accrued but unpaid Portfolio expenses, unreimbursed Trustee
advances, cash held to buy back units or for distribution to investors, and
any other Portfolio liabilities; and
- DIVIDING the result by the number of outstanding units.
Your net asset value when you sell may be more or less than your cost because of
sales fees, market movements and changes in the Portfolio.
As of the close of the initial offering period, the price you receive will be
reduced to pay the Portfolio's estimated organization costs.
If you sell your units before the final deferred sales fee installment, the
amount of any remaining payments will be deducted from your proceeds.
SPONSORS' SECONDARY MARKET
While we are not obligated to do so, we will buy back units at net asset value
less any remaining deferred sales fee and the cost of liquidating Securities to
meet the
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redemption. We may resell the units to other buyers or to the Trustee.
We have maintained a secondary market continuously for more than 28 years, but
we could discontinue it without prior notice for any business reason.
SELLING UNITS TO THE TRUSTEE
Regardless of whether we maintain a secondary market, you can sell your units to
the Trustee at any time by contacting your broker, dealer or financial
institution that holds your units in street name. Sometimes, additional
documents are needed such as a trust document, certificate of corporate
authority, certificate of death or appointment as executor, administrator or
guardian.
Within seven days after your request and the necessary documents are received,
the Trustee will mail a check to you. Contact the Trustee for additional
information.
As long as we are maintaining a secondary market, the Trustee will sell your
units to us at a price based on net asset value. If there is no secondary
market, the Trustee may sell your units in the over-the-counter market if it
believes it can obtain a higher price. In that case, you will receive the net
proceeds of the sale.
If the Portfolio does not have cash available to pay you for the units you are
selling, the Sponsors will select securities to be sold. These sales could be
made at times when the securities would not otherwise be sold and may result in
your receiving less than you paid for your unit and also reduce the size and
diversity of the Portfolio.
If you sell units with a value of at least $250,000 you may choose to receive
your distribution "in kind." If you so choose, you will receive securities and
cash with a total value equal to the price of your units. The Trustee will try
to distribute securities in the portfolio pro rata, but it reserves the right to
distribute only one or a few securities. The Trustee will act as your agent in
an in-kind distribution and will either hold the securities for your account or
transfer them as you instruct. You must pay any transaction costs as well as
transfer and ongoing custodial fees on sales of securities distributed in-kind.
There could be a delay in paying you for your units:
- if the New York Stock Exchange is closed (other than customary weekend and
holiday closings);
- if the SEC determines that trading on the New York Stock Exchange is
restricted or that an emergency exists making sale or evaluation of the
securities not reasonably practicable; and
- for any other period permitted by SEC order.
ROLLOVER/EXCHANGE OPTION
If you do not hold your Portfolio in a currently non-taxable account (e.g., an
IRA account), when this Portfolio is about to terminate, you may have the option
to roll your proceeds into the next Baby Boom Economy Growth Portfolio if one is
available.
If you hold your Units with the Sponsors and notify your financial adviser by
, 2001, your units will be redeemed and certain distributed securities
plus the proceeds from the sale of the remaining distributed securities will be
reinvested in units of a new Baby Boom Economy
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Growth Portfolio. If you decide not to roll over your proceeds, you will receive
a cash distribution (or, if you so choose, an in-kind distribution) after the
Portfolio terminates.
If you do not elect the rollover option by the above notification date, but
later inform your financial professional that you want to invest in the next
Baby Boom Economy Growth Portfolio, you will recognize gain, if any, with
respect to your pro rata share of each security in this Portfolio. You will not
be entitled to claim a loss in respect of any security to the extent that the
same security is included in your pro rata share of the next Baby Boom Economy
Growth Portfolio.
The Portfolio will terminate by , 2001. You may, by written notice to the
Trustee at least ten business days prior to termination, elect to receive an
in-kind distribution of your pro rata share of the Securities remaining in the
Portfolio at that time (net of your share of expenses). Of course, you can sell
your Units at any time prior to termination.
If your investment goals change and you continue to hold your Units, you may
exchange units of this Portfolio any time before this Portfolio terminates for
units of certain other Defined Asset Funds at a reduced sales fee. In addition,
you may exchange into this Fund from certain other Defined Asset Funds and
certain other unit trusts. To exchange units, you should talk to your financial
professional about what Portfolios are exchangeable, suitable and currently
available.
We may amend or terminate the options to exchange your units or roll your
proceeds at any time without notice.
HOW THE FUND WORKS
PRICING
Units are charged a combination of initial and deferred sales fees.
In addition, during the initial offering period, a portion of the price of a
unit also consists of securities to pay all or some of the costs of organizing
the Portfolio including:
- cost of initial preparation of legal documents;
- federal and state registration fees;
- initial fees and expenses of the Trustee;
- initial audit; and
- legal expenses and other out-of-pocket expenses.
The estimated organization costs will be deducted from the assets of the
Portfolio as of the close of the initial offering period.
The deferred sales fee is generally a monthly charge of $1.50 per 1,000 units
and is accrued in ten installments. Units redeemed or repurchased prior to the
accrual of the final deferred sales fee installment will have the amount of any
remaining installments deducted from the redemption or repurchase proceeds or
deducted in calculating an in-kind distribution, however, this deduction will be
waived in the event of the death or disability (as defined in the Internal
Revenue Code of 1986) of an investor. The initial sales fee is equal to the
aggregate sales fee less the aggregate amount of any remaining installments of
the deferred sales fee.
It is anticipated that securities will not be sold to pay the deferred sales fee
until after the date of the last installment. Investors will be at risk for
market price fluctuations
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in the securities from the several installment accrual dates to the dates of
actual sale of securities to satisfy this liability.
EVALUATIONS
The Trustee values the securities on each business day (i.e., any day other than
Saturdays, Sundays and the following holidays as observed by the New York Stock
Exchange: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
If the securities are listed on a national securities exchange or the Nasdaq
National Market, evaluations are generally based on closing sales prices on that
exchange or that system or, if closing sales prices are not available, at the
mean between the closing bid and offer prices.
INCOME
- - The annual income per unit, after deducting estimated annual Portfolio
expenses per unit, will depend primarily upon the amount of dividends declared
and paid by the issuers of the securities and changes in the expenses of the
Portfolio and, to a lesser degree, upon the level of purchases of additional
securities and sales of securities. There is no assurance that dividends on
the securities will continue at their current levels or be declared at all.
- - Each unit receives an equal share of distributions of dividend income net of
estimated expenses. Because dividends on the securities are not received at a
constant rate throughout the year, any distribution may be more or less than
the amount then credited to the income account. The Trustee credits dividends
received to an Income Account and other receipts to a Capital Account. The
Trustee may establish a reserve account by withdrawing from these accounts
amounts it considers appropriate to pay any material liability. These accounts
do not bear interest.
EXPENSES
The Trustee is paid a fee monthly. It also benefits when it holds cash for the
Portfolio in non-interest bearing accounts. The Trustee may also receive
additional amounts:
- expenses for keeping the Portfolio's registration statement current;
- Portfolio termination expenses and any governmental charges.
- for extraordinary services and costs of indemnifying the Trustee and the
Sponsors; and
- costs of actions taken to protect the Portfolio and other legal fees and
expenses;
The Sponsors are currently reimbursed up to 70 CENTS per 1,000 units annually
for providing portfolio supervisory, bookkeeping and administrative services and
for any other expenses properly chargeable to the Portfolio. While this fee may
exceed the amount of these costs and expenses attributable to this Portfolio,
the total of these fees for all Series of Defined Asset Funds will not exceed
the aggregate amount attributable to all of these Series for any calendar year.
Certain of these expenses were previously paid for by the Sponsors.
The Sponsors will receive a Creation and Development Fee of .25% of the
Portfolio's average daily net asset value through the date of collection. This
fee, which has historically been included in the gross sales fee, compensates
the Sponsors for the
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creation and development of the Portfolio's objective and policies and portfolio
composition and size, selection of service providers and information services.
No portion of the Creation and Development Fee is applied to the payment of
distribution expenses or as compensation for sales efforts.
The Trustee's and Sponsors' fees may be adjusted for inflation without
investors' approval.
The maximum sales fee is 2.50%. If you hold units in certain eligible accounts
offered by the Sponsor, you will pay no sales fee. Employees and non-employee
directors of the Sponsor may be charged a reduced sales fee of no less than
$5.00 per 1,000 Units. If your aggregate sales fee is less than the deferred
sales fee, you will be given additional units which will decrease the effective
maximum sales fee to the amount shown below.
The maximum sales fee is effectively reduced if you invest as follows:
<TABLE>
<CAPTION>
YOUR MAXIMUM SALES
IF YOU INVEST: FEE WILL BE:
-------------- ------------------
<S> <C>
Less than $50,000 2.50%
$50,000 to $99,999 2.25%
$100,000 to $249,999 1.75%
$250,000 to $999,999 1.50%
$1,000,000 or more 0.75%
</TABLE>
The deferred sales fees you owe are paid from the Capital Account. Although we
may collect the deferred sales charge monthly, to keep Units more fully invested
we do not currently plan to pay the deferred sales charge until after the
rollover notification date.
The Sponsors will pay advertising and selling expenses at no charge to the
Portfolio. If Portfolio expenses exceed initial estimates, the Portfolio will
owe the excess. The Trustee has a lien on Portfolio assets to secure
reimbursement of Portfolio expenses and may sell securities if cash is not
available.
PORTFOLIO CHANGES
If we maintain a secondary market in units but are unable to sell the units that
we buy in the secondary market, we will redeem units, which may affect the
composition of the portfolio.
We decide whether to offer for sale units that we acquire in the secondary
market after reviewing:
- diversity of the Portfolio;
- size of the Portfolio relative to its original size;
- ratio of Portfolio expenses to income; and
- cost of maintaining a current prospectus.
If the Portfolio is buying or selling a stock actively traded on a national
securities exchange or certain foreign exchanges, it may buy from or sell to
another Defined Asset Fund at the stock's closing sale price (without any
brokerage commissions).
PORTFOLIO TERMINATION
When the Portfolio is about to terminate you will receive a notice, and you will
be unable to sell your units after that time. Unless you choose to receive an
in-kind distribution of securities, we will sell any remaining securities, and
you will receive your final distribution in cash.
You will pay your share of the expenses associated with termination, including
brokerage costs in selling securities. This may reduce the amount you receive as
your final distribution.
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NO CERTIFICATES
All investors are required to hold their Units in uncertificated form and in
"street name" by their broker, dealer or financial institution at the Depository
Trust Company.
TRUST INDENTURE
The Portfolio is a "unit investment trust" governed by a Trust Indenture, a
contract between the Sponsors and the Trustee, which sets forth their duties and
obligations and your rights. A copy of the Indenture is available to you on
request to the Trustee. The following summarizes certain provisions of the
Indenture.
The Sponsors and the Trustee may amend the Indenture without your consent:
- to cure ambiguities;
- to correct or supplement any defective or inconsistent provision;
- to make any amendment required by any governmental agency; or
- to make other changes determined not to be materially adverse to your best
interest (as determined by the Sponsor).
Investors holding 51% of the units may amend the Indenture. Every investor must
consent to any amendment that changes the 51% requirement. No amendment may
reduce your interest in the Portfolio without your written consent.
The Trustee may resign by notifying the Sponsors. The Sponsors may remove the
Trustee without your consent if:
- it fails to perform its duties;
- it becomes incapable of acting or bankrupt or its affairs are taken over by
public authorities; or
- the Sponsors determine that its replacement is in your best interest.
Investors holding 51% of the units may remove the Trustee. The Trustee may
resign or be removed by the Sponsors without the consent of investors. The
resignation or removal of the Trustee becomes effective when a successor accepts
appointment. The Sponsors will try to appoint a successor promptly; however, if
no successor has accepted within 30 days after notice of resignation, the
resigning Trustee may petition a court to appoint a successor.
If the Sponsors fail to perform their duties or become bankrupt the Trustee may:
- remove them and appoint replacement Sponsors;
- liquidate the Portfolio; or
- continue to act as Trustee without the Sponsors.
The Trust Indenture contains customary provisions limiting the liability of the
Trustee and the Sponsors.
LEGAL OPINION
Davis Polk & Wardwell, 450 Lexington Avenue, New York, New York 10017, as
special counsel for the Sponsors, has given an opinion that the units are
validly issued.
AUDITORS
Deloitte & Touche LLP, 2 World Financial Center, New York, New York 10281,
independent accountants, audited the Statement of Condition included in this
prospectus.
SPONSORS
The Sponsors are:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (a wholly-owned subsidiary of
Merrill Lynch & Co., Inc.)
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P.O. Box 9051,
Princeton, NJ 08543-9051
PAINEWEBBER INCORPORATED (a wholly-owned subsidiary of PaineWebber Group Inc.)
1285 Avenue of the Americas,
New York, NY 10019
SELECTED DEALERS
SALOMON SMITH BARNEY INC. (an indirectly wholly-owned subsidiary of Citigroup
Inc.)
388 Greenwich Street--23rd Floor,
New York, NY 10013
DEAN WITTER REYNOLDS INC. (a principal operating subsidiary of Morgan Stanley
Dean Witter & Co.)
Two World Trade Center--59th Floor,
New York, NY 10048
Each Sponsor is a Delaware corporation and it, or its predecessor, has acted as
sponsor to many unit investment trusts. As a registered broker-dealer each
Sponsor buys and sells securities (including investment company shares) for
others (including investment companies) and participates as an underwriter in
various selling groups.
TRUSTEE
The Chase Manhattan Bank, Unit Trust Department, 4 New York Plaza--6th Floor,
New York, New York 10004, is the Trustee. It is supervised by the Federal
Deposit Insurance Corporation, the Board of Governors of the Federal Reserve
System and New York State banking authorities.
UNDERWRITERS' AND SPONSORS' PROFITS
The Underwriter receives sales charges when it sells units. The Sponsors also
realize a profit or loss on deposit of the securities shown under Defined
Portfolio. Any cash made available by you to the Sponsors before the settlement
date for those units may be used in the Sponsors' businesses to the extent
permitted by federal law and may benefit the Sponsors.
The Sponsors or Underwriter may realize profits or sustain losses on stocks in
the Portfolio which were acquired from underwriting syndicates of which they
were a member.
The Sponsors will receive a Creation and Development Fee of .25% of the
Portfolio's average daily net asset value through the date of collection. This
fee, which has historically been included in the gross sales fee, compensates
the Sponsors for the creation and development of the Portfolio, including
determination of the Portfolio's objective and policies and portfolio
composition and size, selection of service providers and information services.
No portion of the Creation and Development Fee is applied to the payment of
distribution expenses or as compensation for sales efforts.
During the initial offering period, the Sponsors also may realize profits or
sustain losses on units they hold due to fluctuations in the price per unit. The
Sponsors experienced a gain of $1,192.64 on the initial deposit of the
securities. Any profit or loss to the Portfolio will be effected by the receipt
of applicable sales charges and a gain or loss on subsequent deposits of
securities. In maintaining a secondary market, the Sponsors will also realize
profits or sustain losses in the amount of any difference between the prices at
which they buy units and the prices at which they resell or redeem them.
PUBLIC DISTRIBUTION
During the initial offering period, units will be distributed to the public by
the Sponsors and
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dealers who are members of the National Association of Securities Dealers, Inc.
Dealers will be entitled to the concession stated below on Units sold or
redeemed.
<TABLE>
<CAPTION>
DEALER CONCESSION
AS
A % OF PUBLIC
AMOUNT PURCHASED OFFERING PRICE
---------------- -----------------
<S> <C> <C>
Less than $50,000 2.00%
$50,000 to $99,999 1.80%
$100,000 to
$249,999 1.45%
$250,000 to
$999,999 1.25%
$1,000,000 and over 0.50%
</TABLE>
The Sponsors do not intend to qualify units for sale in any foreign countries.
This prospectus does not constitute an offer to sell units in any country where
units cannot lawfully be sold.
CODE OF ETHICS
Each of the Portfolio and the Agent for the Sponsors have adopted a code of
ethics requiring preclearance and reporting of personal securities transactions
by its employees with access to information on portfolio transactions. Subject
to certain conditions, the codes permit employees to invest in Portfolio
securities for their own accounts. The codes are designed to prevent fraud,
deception and misconduct against the Portfolio and to provide reasonable
standards of conduct. These codes are on file with the Commission and you may
obtain a copy by contacting the Commission at the address listed on the back
cover of this prospectus.
YEAR 2000 ISSUES
Many computer systems were designed in such a way that they may be unable to
distinguish between the year 2000 and the year 1900 (commonly known as the "Year
2000 Problem"). To date, we are not aware of any major operational difficulties
resulting from the computer system changes necessary to prepare for the Year
2000. However, there can be no assurance that the Year 2000 Problem will not
adversely affect the issuers of the securities contained in the Portfolio. We
cannot predict whether any impact will be material to the Portfolio as a whole.
ADVERTISING AND SALES MATERIAL
Sales material may discuss developing a long-term financial plan, working with
your financial professional; the nature and risks of various investment
strategies and Defined Asset Funds that could help you toward your financial
goals and the importance of discipline; how securities are selected for these
funds, how the funds are created and operated, features such as convenience and
costs, and options available for certain types of funds including automatic
reinvestment, rollover, exchanges and redemption. It may also summarize some
similarities and differences with mutual funds and discuss the philosophy of
spending time in the market rather than trying to time the market, including
probabilities of negative returns over various holding periods.
Advertising and sales literature may contain cumulative past performance of the
hypothetical Strategy, either in dollars or average annualized returns (changes
in market prices with dividends reinvested at year ends) for various periods,
compared to the Standard & Poor's 500 Index, the S&P 100 Index or other relevant
market indices. Strategy figures reflect deduction of Portfolio sales charges
and estimated expenses.
While indexing attempts to mirror market trends, the Portfolio's screening
process selects stocks from a major index for a
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<PAGE>
combination of value, capital appreciation potential and current dividend
income. Because of this disciplined screening process, investors are relieved of
making individual buy and sell decisions.
Sales literature and articles may state research opinions on the economy and
industry sectors and include a list of funds generally appropriate for pursuing
these recommendations.
TAXES
The following summary describes some of the important income tax consequences of
holding units. It assumes that you are not a dealer, financial institution,
insurance company or other investor with special circumstances. You should
consult your own tax adviser about your particular circumstances.
In the opinion of our counsel, under existing law:
GENERAL TREATMENT OF THE FUND AND YOUR INVESTMENT
The Portfolio will not be taxed as a corporation for federal income tax
purposes, and you will be considered to own directly your share of each security
in the Portfolio.
You will be considered to receive your share of any dividends paid when those
dividends are received by the Portfolio. Income from dividends will be taxed at
ordinary income rates. If you are a corporate investor, you may be eligible for
the dividends received deduction if you satisfy the applicable holding period
and other requirements. You should consult your tax adviser in this regard.
GAIN OR LOSS UPON DISPOSITION
You will generally recognize gain or loss when you dispose of your units for
cash (by sale or redemption), when you exchange your units for units of another
Defined Asset Fund, or when the Trustee disposes of the Securities in the
Portfolio. You generally will not recognize gain or loss on an "in-kind"
distribution to you of your proportional share of the Portfolio securities. Your
holding period for the distributed securities will include your holding period
in your units.
If you elect to roll over your investment in the Portfolio by May 23, 2001, and
you do not hold your Portfolio in a currently non-taxable account (e.g., an IRA
account), you will recognize gain or loss only with respect to your share of
those securities that are not rolled over into the new portfolio. You will not
recognize gain or loss with respect to your share of those securities that are
rolled over and your basis in those securities will remain the same as before
the rollover.
If you do not elect the rollover option by the above notification date, but
later inform your financial professional that you want to invest in the next
Baby Boom Economy Growth Portfolio, you will recognize gain, if any, with
respect to your pro rata share of each security in this Portfolio. You will not
be entitled to claim a loss in respect of any security to the extent that the
same security is included in your pro rata share of the next Baby Boom Economy
Growth Portfolio.
If your net long-term capital gains exceed your net short-term capital losses,
the excess may be subject to tax at a lower rate than ordinary income. Any
capital gain or loss from the Portfolio will be long-term if you
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<PAGE>
are considered to have held your investment which produces the gain or loss for
more than one year and short-term otherwise. Because the deductibility of
capital losses is subject to limitations, you may not be able to deduct all of
your capital losses. You should consult your tax adviser in this regard.
YOUR TAX BASIS IN THE SECURITIES
Your aggregate tax basis in your units will be equal to the cost of the units,
including the sales fee. Your aggregate tax basis in units that you hold as a
result of a rollover from an earlier portfolio will equal your basis in
securities that were rolled over from the previous portfolio plus the proceeds
(other than proceeds that were paid to you) from the sale of securities from the
portfolio which were not rolled over. You should not increase your basis in your
units by deferred sales charges or organizational expenses or by any portion of
the Creation and Development Fee. The tax reporting form and annual statements
you receive will be based on the net amounts paid to you, from which these
expenses will already have been deducted. Your basis for securities distributed
to you will be the same as the portion of your basis in your units that is
attributable to the distributed securities.
EXPENSES
If you are an individual who itemizes deductions, you may deduct your share of
Portfolio expenses (including the applicable portion of the Creation and
Development Fee), but only to the extent that your share of the expenses,
together with your other miscellaneous deductions, exceeds 2% of your adjusted
gross income. Your ability to deduct Portfolio expenses will be limited further
if your adjusted gross income exceeds a specified amount, currently $128,950
($64,475 for a married person filing separately).
STATE AND LOCAL TAXES
Under the income tax laws of the State and City of New York, the Portfolio will
not be taxed as a corporation, and the income of the Portfolio will be treated
as the income of the investors in the same manner as for federal income tax
purposes.
FOREIGN INVESTORS
If you are a foreign investor and you are not engaged in a U.S. trade or
business, you generally will be subject to withholding tax at a rate of 30% (or
a lower applicable treaty rate) on your share of dividends received by the
Portfolio. You should consult your tax adviser about the possible application of
federal, state and local, and foreign taxes.
RETIREMENT PLANS
You may wish to purchase units for an Individual Retirement Account ("IRAs") or
other retirement plan. Generally, capital gains and income received in each of
these plans are exempt from federal taxation. All distributions from these types
of plans are generally treated as ordinary income but may, in some cases, be
eligible for tax-deferred rollover treatment. You should consult your attorney
or tax adviser about the specific tax rules relating to these plans. These plans
are offered by brokerage firms, including the Sponsors of this Portfolio, and
other financial institutions. Fees and charges with respect to such plans may
vary.
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SUPPLEMENTAL INFORMATION
You can receive at no cost supplemental information about the Portfolio by
calling the Trustee. The supplemental information includes more detailed risk
disclosure and general information about the structure and operation of the
Portfolio. The supplemental information is also available from the SEC.
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REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Equity Investor Fund, Concept Series, Baby
Boom Economy Portfolio, 2000 Growth Series A, Defined Asset Funds (the
"Portfolio"):
We have audited the accompanying statement of condition and the related defined
portfolio included in the prospectus of the Portfolio as of April 17, 2000. This
financial statement is the responsibility of the Trustee. Our responsibility is
to express an opinion on this financial statement based on our audit.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statement is free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statement. Our procedures included
confirmation of an irrevocable letter of credit deposited for the purchase of
securities, as described in the statement of condition, with the Trustee. An
audit also includes assessing the accounting principles used and significant
estimates made by the Trustee, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our opinion, the financial statement referred to above presents fairly, in
all material respects, the financial position of the Portfolio as of April 17,
2000 in conformity with generally accepted accounting principles.
DELOITTE & TOUCHE LLP
New York, NY
April 17, 2000
STATEMENT OF CONDITION AS OF APRIL 17, 2000
TRUST PROPERTY
<TABLE>
<S> <C>
Investments--Contracts to purchase Securities(1)......... $ 1,227,397.31
--------------------
Total............................................ $ 1,227,397.31
====================
LIABILITY AND INTEREST OF HOLDERS
Reimbursement of Sponsors for organization
expenses(2)......................................... $ 1,190.20
--------------------
Subtotal 1,190.20
--------------------
Interest of Holders of 1,239,795 Units of fractional
undivided interest outstanding:(3)
Cost to investors(4)................................... $ 1,239,683.42
Gross underwriting commissions and organization
expenses(5)(2)....................................... (13,476.31)
--------------------
Subtotal 1,226,207.11
--------------------
Total............................................ $ 1,227,397.31
====================
</TABLE>
- ------------
(1) Aggregate cost to the Portfolio of the securities listed under
Defined Portfolio determined by the Trustee at 4:00 p.m., Eastern time on April
17, 2000. The contracts to purchase securities are collateralized by an
irrevocable letter of credit which has been issued by San Paolo Bank, New York
Branch, in the amount of $1,228,589.95 and deposited with the Trustee. The
amount of the letter of credit includes $1,227,397.31 for the purchase of
securities.
(2) A portion of the Unit Price consists of securities in an amount
sufficient to pay all or a portion of the costs incurred in establishing the
Portfolio. These costs have been estimated at $0.96 per 1,000 Units. A
distribution will be made as of 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. If actual organization costs exceed the
estimated amount shown above, the Sponsors will pay this excess amount.
(3) Because the value of securities at the evaluation time on the
Initial Date of Deposit may differ from the amounts shown in this statement of
condition, the number of Units offered on the Initial Date of Deposit will be
adjusted to maintain the $999.91 per 1,000 Units offering price only for that
day. The Unit Price on any subsequent business day will vary.
(4) Aggregate public offering price computed on the basis of the value
of the underlying securities at 4:00 p.m., Eastern time on April 17, 2000.
(5) Assumes the maximum initial sales charge per 1,000 units of 1.00% of
the Unit Price. A deferred sales charge of $2.50 per 1,000 Units is payable on
September 1, 2000 and the 1st day of each month thereafter through February 1,
2001. Distributions will be made to an account maintained by the Trustee from
which the deferred sales charge obligation of the investors to the Sponsors will
be satisfied. If units are redeemed prior to February 1, 2001, the remaining
portion of the distribution applicable to such units will be transferred to such
account on the redemption date.
18
<PAGE>
DEFINED ASSET FUNDS-R-
<TABLE>
<S> <C>
HAVE QUESTIONS ? EQUITY INVESTOR FUND
Request the most CONCEPT SERIES
recent free Information BABY BOOM ECONOMY PORTFOLIO
Supplement that gives more 2000 GROWTH SERIES A
details about the Fund, (A Unit Investment Trust)
by calling: ---------------------------------------
The Chase Manhattan Bank This Prospectus does not contain
1-800-323-1508 complete information about the
investment company filed with the
Securities and Exchange Commission in
Washington, D.C. under the:
- Securities Act of 1933 (file no.
333-33398) and
- Investment Company Act of 1940 (file
no. 811-3044).
TO OBTAIN COPIES AT PRESCRIBED RATES--
WRITE: Public Reference Section of the
Commission
450 Fifth Street, N.W., Washington,
D.C. 20549-6009
CALL: 1-800-SEC-0330.
VISIT: http://www.sec.gov.
---------------------------------------
No person is authorized to give any
information or representations about
this Fund not contained in this
Prospectus or the Information
Supplement, and you should not rely on
any other information.
---------------------------------------
When units of this Fund are no longer
available, this Prospectus may be used
as a preliminary prospectus for a
future series, but some of the
information in this Prospectus will be
changed for that series.
UNITS OF ANY FUTURE SERIES MAY NOT BE
SOLD NOR MAY OFFERS TO BUY BE ACCEPTED
UNTIL THAT SERIES HAS BECOME EFFECTIVE
WITH THE SECURITIES AND EXCHANGE
COMMISSION. NO UNITS CAN BE SOLD IN ANY
STATE WHERE A SALE WOULD BE ILLEGAL.
100610RR--4/00
</TABLE>
<PAGE>
PART II
Additional Information Not Included in the Prospectus
<TABLE>
<S> <C> <C>
A. The following information relating to the Depositor is incorporated by reference to the SEC filings
indicated and made a part of this Registration Statement.
</TABLE>
I. Bonding arrangements of each of the Depositors are incorporated by reference
to Item A of Part II to the Registration Statement on Form S-6 under the
Securities Act of 1933 for Municipal Investment Trust Fund, Monthly Payment
Series--573 Defined Asset Funds (Reg. No. 333-08241).
II. The date of organization of each of the Depositors is set forth in Item B
of Part II to the Registration Statement on Form S-6 under the Securities Act of
1933 for Municipal Investment Trust Fund, Monthly Payment Series--573 Defined
Asset Funds (Reg. No. 333-08241) and is herein incorporated by reference
thereto.
III. The Charter and By-Laws of each of the Depositors are incorporated herein
by reference to Exhibits 1.3 through 1.12 to the Registration Statement on Form
S-6 under the Securities Act of 1933 for Municipal Investment Trust Fund,
Monthly Payment Series--573 Defined Asset Funds (Reg. No. 333-08241).
IV. Information as to Officers and Directors of each of the Depositors has been
filed pursuant to Schedules A and D of Form BD under Rules 15b1-1 and 15b3-1 of
the Securities Exchange Act of 1934 and is incorporated by reference to the SEC
filings indicated and made a part of this Registration Statement:
<TABLE>
<S> <C> <C>
Merrill Lynch, Pierce, Fenner & Smith Incorporated.......... 8-7221
PaineWebber Incorporated.................................... 8-16267
</TABLE>
----------------------------
B. The Internal Revenue Service Employer Identification Numbers of the
Sponsors and Trustee are as follows:
<TABLE>
<S> <C> <C>
Merrill Lynch, Pierce, Fenner & Smith Incorporated.......... 13-5674085
PaineWebber Incorporated.................................... 13-2638166
The Chase Manhattan Bank, Trustee........................... 13-4994650
</TABLE>
UNDERTAKING
Each of the Sponsors undertakes that it will not make any amendment to the
Supplement to this Registration Statement which includes material changes
without submitting the amendment for Staff review prior to distribution.
II-1
<PAGE>
CONTENTS OF REGISTRATION STATEMENT
The Registration Statement on Form S-6 comprises the following papers and
documents:
The facing sheet of Form S-6.
The Prospectus.
Additional Information not included in the Prospectus (Part II).
The following exhibits:
<TABLE>
<S> <C>
1.1 -- Form of Trust Indenture (incorporated by reference to Exhibit
1.1 to the Registration Statement of Equity Income Fund, Select
S&P Industrial Portfolio 1997 Series A. 1933 Act File No.
33-05683.
1.1.1 -- Form of Standard Terms and Conditions of Trust Effective
October 21, 1993 (incorporated by reference to Exhibit 1.1.1 to
the Registration Statement of Municipal Investment Trust Fund,
Multistate Series--48, 1933 Act File No. 33-50247).
1.2 -- Form of Master Agreement Among Underwriters (incorporated by
reference to Exhibit 1.2 to the Registration Statement of The
Corporate Income Fund, One Hundred Ninety-Fourth Monthly
Payment Series, 1933 Act File No. 2-90925).
1.11.1 -- Merrill Lynch Code of Ethics (incorporated by reference to
Exhibit 1.11.1 to Post-Effective Amendment No. 2 to the
Registration Statement of Equity Participation Series, Low Five
Portfolio, Defined Asset Funds, 1933 Act File No. 333-05685).
1.11.2 -- Equity Investor Fund Code of Ethics (incorporated by reference
to Exhibit 1.11.2 to Post-Effective Amendment No. 2 to the
Registration of Equity Participation Series Low Five Portfolio,
Defined Asset Funds, 1933 Act File No. 333-05685).
3.1 -- Opinion of counsel as to the legality of the securities being
issued including their consent to the use of their names under
the heading "How the Fund Works--Legal Opinion" in the
Prospectus.
5.1 -- Consent of independent accountants.
9.1 -- Information Supplement (incorporated by reference to Exhibit
9.1 to the Registration Statement of Equity Investor Fund, Select
Ten Portfolio 1999 International Series A (United Kingdom Port-
folio), 1933 Act File No. 33-70593).
</TABLE>
R-1
<PAGE>
SIGNATURES
The registrant hereby identifies the series numbers of Equity Investor Fund
listed on page R-1 for the purposes of the representations required by Rule 487
and represents the following:
1) That the portfolio securities deposited in the series as to 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 information for, the
series with respect to 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 HAS
DULY CAUSED THIS REGISTRATION STATEMENT OR AMENDMENT TO THE REGISTRATION
STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY
AUTHORIZED IN THE CITY OF NEW YORK AND STATE OF NEW YORK ON THE 17TH DAY OF
APRIL, 2000.
SIGNATURES APPEAR ON PAGE R-3 AND R-4.
A majority of the members of the Board of Directors of Merrill Lynch,
Pierce, Fenner & Smith Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.
A majority of the members of the Executive Committee of the Board of
Directors of PaineWebber Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.
R-2
<PAGE>
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
DEPOSITOR
<TABLE>
<S> <C>
By the following persons, who constitute Powers of Attorney have been filed
a majority of under
the Board of Directors of Merrill Form SE and the following 1933 Act
Lynch, Pierce, File
Fenner & Smith Incorporated: Number: 333-70593
</TABLE>
GEORGE A. SCHIEREN
JOHN L. STEFFENS
By JAY M. FIFE
(As authorized signatory for Merrill Lynch, Pierce,
Fenner & Smith Incorporated and
Attorney-in-fact for the persons listed above)
R-3
<PAGE>
PAINEWEBBER INCORPORATED
DEPOSITOR
<TABLE>
<S> <C>
By the following persons, who constitute Powers of Attorney have been filed
the Board of Directors of PaineWebber under
Incorporated: the following 1933 Act File
Number: 2-61279
</TABLE>
MARGO N. ALEXANDER
TERRY L. ATKINSON
BRIAN M. BAREFOOT
STEVEN P. BAUM
MICHAEL CULP
REGINA A. DOLAN
JOSEPH J. GRANO, JR.
EDWARD M. KERSCHNER
JAMES P. MacGILVRAY
DONALD B. MARRON
ROBERT H. SILVER
MARK B. SUTTON
By ROBERT E. HOLLEY
(As authorized signatory for
PaineWebber Incorporated
and Attorney-in-fact for the persons listed above)
R-4
<PAGE>
EXHIBIT 3.1
DAVIS POLK & WARDWELL
450 LEXINGTON AVENUE
NEW YORK, NEW YORK 10017
(212) 450-4000
April 17, 2000
Equity Investor Fund
Concept Series
Baby Boom Economy Portfolio 2000 Growth Series A
Defined Asset Funds
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
PAINEWEBBER INCORPORATED
c/o Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defined Asset Funds
P.O. Box 9051
Princeton, NJ 08543-9051
Dear Sirs:
We have acted as special counsel for you, as sponsors (the "Sponsors") of
Equity Investor Fund, Concept Series, Baby Boom Economy Portfolio 2000 Growth
Series A, Defined Asset Funds (the "Fund"), in connection with the issuance of
units of fractional undivided interest in the Fund (the "Units") in accordance
with the Trust Indenture relating to the Fund (the "Indenture").
We have examined and are familiar with originals or copies, certified or
otherwise identified to our satisfaction, of such documents and instruments as
we have deemed necessary or advisable for the purpose of this opinion.
Based upon the foregoing, we are of the opinion that (i) the execution and
delivery of the Indenture and the issuance of the Units have been duly
authorized by the Sponsors and (ii) the Units, when duly issued and delivered by
the Sponsors and the Trustee in accordance with the Indenture, will be legally
issued, fully paid and non-assessable.
We hereby consent to the use of this opinion as Exhibit 3.1 to the
Registration Statement relating to the Units filed under the Securities Act of
1933 and to the use of our name in such Registration Statement and in the
related prospectus under the heading "How the Fund Works--Legal Opinion'.
Very truly yours,
DAVIS POLK & WARDWELL
<PAGE>
EXHIBIT 5.1
CONSENT OF INDEPENDENT ACCOUNTANTS
The Sponsors and Trustee of Equity Investor Fund, Concept Series, Baby Boom
Economy Portfolio 2000 Growth Series A, Defined Asset Funds:
We consent to the use in this Registration Statement No. 333-33398 of our report
dated April 17, 2000, relating to the Statement of Condition of Equity Investor
Fund, Concept Series, Baby Boom Economy Portfolio 2000, Growth Series A, Defined
Asset Funds and to the reference to us under the heading "How The Fund
Works--Auditors" in the Prospectus which is a part of this Registration
Statement.
DELOITTE & TOUCHE LLP
New York, NY
April 17, 2000