<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No 12)
2002 Target Term Trust, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
902106103
(CUSIP Number)
George W. Karpus, President
Karpus Management, Inc. d/b/a
Karpus Investment Management
14 Tobey Village Office Park
Pittsford, New York 14534
(716) 586-4680
(Name, Address, and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 6, 1999
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is subject of the Schedule 13D, and is
filing this schedule because of Rule 13d-1 (b) (3) or (4), check
the following box. [x]
(Page 1 of 4 pages)
<PAGE>
CUSIP No. 402106103 SCHEDULE 13D Page 2 of 4 Pages
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Karpus Management, Inc.
d/b/a Karpus Investment Management
I.D #16-1290558
2. Check the Appropriate Box if a Member of a Group* (a) / /
(b) /X/
3. SEC Use Only
4. Source of Funds*
AF
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) / /
6. Citizenship or Place of Organization
New York
7. Sole Voting Power
573,500
Number of Shares
8. Shared Voting Power
Beneficially
Owned by Each
9. Sole Dispositive Power
Reporting Person
573,500
With
10. Shared Dispositive Power
11. Aggregate Amount Beneficially Owned by Each Reporting Person
573,500
12. Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares* / /
13. Percent of Class Represented by Amount in Row (11)
7.35%
14. Type of Reporting Person*
IA
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
ITEM 1 Security and Issuer
Common Stock
2002 Target Term Trust, Inc. ("TTR")
1285 Avenue of the Americas
New York, New York 10019
ITEM 2 Identity and Background
a) Karpus Management, Inc. d/b/a/ Karpus Investment Management
("KIM")
George W. Karpus, President, Director, and controlling stockholder
JoAnn VanDegriff, Vice President and Director,
Sophie Karpus, Director
b) 14 Tobey Village Office Park, Pittsford, New York 14534
c) Principal business and occupation- Investment Management for
individuals, pension and profit sharing plans, corporations,
endowments, trusts and others, specializing in conservative asset
management (i.e. fixed income investments ).
d) None of George W. Karpus, JoAnn VanDegriff, or Sophie Karpus (the
"Principals") or KIM has been convicted in the past 5 years of
any criminal proceeding (excluding traffic violations).
e) During the last five years non-of the Principals or KIM has been
a party to a civil proceeding as a result of which any of them is
subject to a judgment, decree, or final order enjoining future
violations of or prohibiting or mandating activities subject to,
federal with respect to such laws.
f) Each of the Principals is a United States citizen. KIM is a New
York State corporation.
ITEM 3 Source and Amount of Funds or Other Considerations
KIM, an independent investment advisor, has accumulated shares of TTR
on behalf of Accounts that are managed by KIM ("the Accounts") under
limited powers of attorney. All funds that have been utilized in
making such purchases are from such Accounts.
ITEM 4 Purpose of Transaction
KIM has purchased shares for investment purposes. Being primarily a
conservative, fixed income manager, with a specialty focus in the
closed-end fund sector, the profile of TTR (being a conservative
investment grade fund) fit the investment guidelines for various
Accounts.
ITEM 5 Interest in Securities of the Issuer
a) As of the date of this Report, KIM owns 573,500 shares which
represents 7.35% of the outstanding Shares. George W. Karpus owns
1,500 shares purchased on December 13,1996 at a price of $13.625
per share. None of the other Principals or KIM presently own
Shares.
b) KIM has the sole power to dispose of and to vote all of such
Shares under limited powers of attorney.
c) Open market purchases and sales for the last 60 days. There have
been no disposition and no acquisitions, other than by such open
market purchases and sales during such period.
<PAGE>
DATE SHARES PRICE PER DATE SHARES PRICE PER
SHARE SHARE
2/18/99 3300 14.125 3/1/99 -300 14.187
2/19/99 500 14.125 3/1/99 -1200 14.25
2/22/99 5000 14.25 3/3/99 -800 14.187
2/24/99 900 14.1875 3/4/99 -1700 14.187
2/25/99 2100 14.1875 3/5/99 -2200 14.187
2/25/99 -550 14.25 3/8/99 -300 14.187
3/15/99 1000 14.187
3/16/99 4000 14.187
3/19/99 -200 14.187
3/19/99 2500 14.187
3/22/99 2600 14.187
3/23/99 200 14.187
3/24/99 4300 14.187
3/25/99 3400 14.187
3/26/99 -250 14.25
3/26/99 500 14.187
3/29/99 -1000 14.25
3/29/99 -200 14.187
3/29/99 4500 14.187
3/30/99 -750 14.25
3/30/99 2300 14.187
3/31/99 500 14.187
ITEM 6 Contract, Arrangements, Understandings, or Relationships with Respect
to Securities of the Issuer.
Except as described above, there are no contracts, arrangements
understandings or relationships of any kind among the Principals and
KIM and between any of them and any other person with respect to any
of TTR securities.
ITEM 7 Materials to be Filed as Exhibits
Not applicable.
Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Karpus Management, Inc.
April 6, 1999 By: /s/ George W. Karpus, President
- ------------- --------------------------------
Date Signature
George W. Karpus, President
--------------------------------
Name / Title
