U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer:
Nike Securities L.P.
1001 Warrenville Road
Lisle, Illinois 60532
2. The name of each series or class of securities for which this Form
is filed: The First Trust Combined Series 159
3. Investment Company Act File Number: 811-25411
Securities Act File Number: 33-47393
4. (a) Last day of fiscal year for which this Form is filed:
March 31, 1999
(b) : : Check box if this Form is being filed late(i.e., more that 90
calendar days after the end of the issuer's fiscal year.
(c) : : Check box if this is the last time the issuer will be filing
this Form.
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold
during the fiscal year pursuant to section 24(f): $ -0-
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $(466,888.99)
(iii)Aggregate price of securities redeemed or
repurchased during any prior fiscal year ending
no earlier than October 11, 1995 that were not
previously used to reduce registration fees
payable to the Commission: $ -0-
(iv) Total available redemption credits(add items
5(ii) and 5(iii): $(466,888.99)
(v) Net sales - if Item 5(i) is greater than Item
5(iv)[subtract Item 5(iv) from Item 5(i)]: $(466,888.99)
(vi) Redemption credits available for use in future years
--if Item 5(i) is less than Item 5(iv) [subtract item
5(iv) from Item 5(i)]: $(466,888.99)
(vii) Multiplier for determining registration fee: x .000278
(viii) Registration fee due [multiply Item 5(v) by
Item 5(vii)](enter "0" if no fee is due): =$ -0-
6. Prepaid Shares
If the response to Item 5(i) was determined by deducting an
amount of securities that were registered under the Securities
Act of 1933 pursuant to rule 24e-2 as in effect before[effective
date of rescission of rule 24e-2], then report the amount of
securities (number of shares or other units) deducted here: ___________.
If there is a number of shares or other units that were registered
pursuant to rule 24e-2 remaining unsold at the end of the fiscal
year for which this form is filed that are available for use by
the issuer in future fiscal years, then state that number
here: ________________.
7. Interest due - if this Form is being filed more than 90 days after
the end of the issuer's fiscal year: +$-0-
8. Total of the amount of the registration fee due plus any interest
due[line 5(viii) plus line 7]: =$-0-
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository:
Method of Delivery:
[ ] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following persons on
behalf of the issuer and in the capacities and on the dates
indicated.
By: Carlos E. Nardo
Senior Vice President
Date: June 23, 1999
