Rule 497(b)
Registration No. 33-11514
Changes in Trust Portfolio
MUNICIPAL SECURITIES TRUST HIGH INCOME SERIES 11
ElPaso Ill. Health Fac. Rev.
1st Mtg. 1st Humanics Series 1986
10.00% due 12/1/2016
Sullivan Ill. Health Fac. Rev.
1st Mtg. 1st Humanics Corp. Series 1986
10.00% due 12/1/2016
Toulon Ill. Health Fac. Rev.
1st Humanics Corp. Series 1986
10.00% due 12/1/2016
Watseka Ill. Health Fac. Rev.
1st Mtg. 1st Humanics Corp.
10.00% due 12/1/2016
Updated Information
Final Distribution Received in
Ayers v. Sutliffe Litigation
U.S. Trust Company of New York, the Trustee of this Trust
(the "Trustee"), recently received a distribution from the
Special Master in the litigation entitled A
yers, et al. v. Sutliffe, et al., a class action commenced on
behalf of classes of various First Humanics bonds including bonds
held in the Unit Trust. An initial settlement distribution was
made in December 1992. The final distribution, which concludes
the litigation, represents payment to existing claimants of
settlement proceeds that were not claimed by other potential
claimants. The proceeds from this settlement will be used by the
Trust to defray Trust expenses and to redeem units. Any excess
proceeds will be payable to Unitholders in accordance with the
provisions of the Trust Indenture.
Approximately five percent of the final distribution
represents net interest income resulting from investments of the
settlement proceeds in U.S. Treasury obligations by the Special
Master. Federal income tax must be paid on the interest income.
The Trustee will forward to each Unitholder a form 1099 with
respect to the taxable distribution in respect of each
Unitholder.
CUSIPS: 62624L737 United States Trust Company
62624L745 of New York, Trustee
62624L752
