AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 30, 1998
REGISTRATION NO. 333-44077
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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AMENDMENT NO. 1
TO
FORM S-6
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FOR REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OF SECURITIES OF UNIT INVESTMENT
TRUSTS REGISTERED ON FORM N-8B-2
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A. EXACT NAME OF TRUST:
MUNICIPAL INVESTMENT TRUST FUND
MONTHLY PAYMENT SERIES--613
DEFINED ASSET FUNDS
B. NAMES OF DEPOSITORS:
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
SMITH BARNEY INC.
PAINEWEBBER INCORPORATED
DEAN WITTER REYNOLDS INC.
C. COMPLETE ADDRESSES OF DEPOSITORS' PRINCIPAL EXECUTIVE OFFICES:
MERRILL LYNCH, PIERCE,
FENNER &
SMITH INCORPORATED
UNIT INVESTMENT TRUST
DIVISION
P.O. BOX 9051
PRINCETON, NJ 08543-9051 SMITH BARNEY INC.
388 GREENWICH
STREET--23RD FLOOR
NEW YORK, NY 10013
PAINEWEBBER INCORPORATED
1285 AVENUE OF THE
AMERICAS
NEW YORK, NY 10019 DEAN WITTER REYNOLDS INC.
TWO WORLD TRADE
CENTER--59TH FLOOR
NEW YORK, NY 10048
D. NAMES AND COMPLETE ADDRESSES OF AGENTS FOR SERVICE:
TERESA KONCICK, ESQ.
P.O. BOX 9051
PRINCETON, NJ 08543-9051 LAURIE A. HESSLEIN
388 GREENWICH ST.
NEW YORK, NY 10013
COPIES TO:
ROBERT E. HOLLEY PIERRE DE SAINT PHALLE, DOUGLAS LOWE, ESQ.
1285 AVENUE OF THE ESQ. DEAN WITTER REYNOLDS INC.
AMERICAS 450 LEXINGTON AVENUE TWO WORLD TRADE
NEW YORK, NY 10019 NEW YORK, NY 10017 CENTER--59TH FLOOR
NEW YORK, NY 10048
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.
THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES
AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE
A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT, THIS REGISTRATION STATEMENT
SHALL HEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(A) OF THE
SECURITIES ACT OF 1933 OR ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO
SAID SECTION 8(A), MAY DETERMINE.
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<PAGE>
DEFINED ASSET FUNDSSM
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MUNICIPAL INVESTMENT TRUST FUND
MONTHLY PAYMENT SERIES 613
(A UNIT INVESTMENT TRUST)
O PORTFOLIO OF LONG TERM MUNICIPAL BONDS
O DESIGNED FOR FEDERALLY TAX-FREE MONTHLY INCOME
O RATED A OR BETTER
[LOGO]
Merrill Lynch, -------------------------------------------------
Pierce, Fenner & Smith The Securities and Exchange Commission has not
Incorporated approved or disapproved these Securities or
Defined Asset Funds passed upon the adequacy of this prospectus and
P.O. Box 9051 any representation to the contrary is a criminal
Princeton, N.J. 08543-9051 offense.
(609) 282-8500 Prospectus dated , 1998.
<PAGE>
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Defined Asset FundsSM
FOR MORE THAN 25 YEARS, DEFINED ASSET FUNDSSM HAS BEEN A LEADER IN UNIT
INVESTMENT TRUST RESEARCH AND PRODUCT INNOVATION. OUR FAMILY OF 'DEFINED' FUNDS
HELPS INVESTORS WORK TOWARD THEIR FINANCIAL GOALS WITH A FULL RANGE OF QUALITY
INVESTMENTS, INCLUDING MUNICIPAL, CORPORATE, GOVERNMENT AND INTERNATIONAL BOND
PORTFOLIOS, AS WELL AS DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS.
DEFINED ASSET FUNDS OFFER A NUMBER OF ADVANTAGES:
O PROFESSIONAL RESEARCH: OUR DEDICATED RESEARCH TEAM SEEKS OUT ONLY THOSE
STOCKS AND BONDS THAT ARE APPROPRIATE FOR A PARTICULAR FUND'S OBJECTIVES.
O PRESELECTED PORTFOLIOS: THE STOCKS AND BONDS ARE CHOSEN IN ADVANCE, SO YOU
KNOW EXACTLY WHAT YOU'RE INVESTING IN.
O ONGOING SUPERVISION: DEFINED FUNDS PORTFOLIOS ARE MONITORED ON AN ONGOING
BASIS.
O FIXED PORTFOLIO: DEFINED FUNDS ARE NOT MANAGED AND PORTFOLIO CHANGES ARE
LIMITED.
NO MATTER WHAT YOUR INVESTMENT GOALS, TOLERANCE FOR RISK OR TIME HORIZON,
THERE'S 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.
CONTENTS
PAGE
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RISK/RETURN SUMMARY..................................... 3
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT................ 6
MONTHLY INCOME....................................... 6
RETURN FIGURES....................................... 6
RECORDS AND REPORTS.................................. 6
THE RISKS YOU FACE...................................... 7
INTEREST RATE RISK................................... 7
CONCENTRATION RISK................................... 7
INSURANCE RELATED RISK............................... 7
LITIGATION AND LEGISLATION RISKS..................... 7
BOND QUALITY RISK.................................... 8
CALL RISK............................................ 8
REDEMPTION RISK...................................... 8
LIQUIDITY RISK....................................... 8
REDEEMING, SELLING OR EXCHANGING........................ 8
REDEEMING UNITS WITH THE TRUSTEE..................... 8
SPONSORS' SECONDARY MARKET........................... 9
EXCHANGE OPTION...................................... 9
HOW THE FUND WORKS...................................... 10
PRICING.............................................. 10
EVALUATIONS.......................................... 10
CERTIFICATES......................................... 10
INCOME............................................... 10
EXPENSES............................................. 11
PORTFOLIO CHANGES.................................... 11
FUND TERMINATION..................................... 12
TRUST INDENTURE...................................... 12
LEGAL OPINION........................................ 13
AUDITORS............................................. 13
SPONSORS............................................. 13
TRUSTEE.............................................. 14
UNDERWRITERS' AND SPONSORS' PROFITS.................. 14
PUBLIC DISTRIBUTION.................................. 14
CODE OF ETHICS....................................... 14
TAXES................................................... 14
SUPPLEMENTAL INFORMATION................................ 16
FINANCIAL STATEMENTS.................................... 17
DEFINED PORTFOLIO.................................... 17
REPORT OF INDEPENDENT ACCOUNTANTS.................... 18
STATEMENT OF CONDITION............................... 18
2
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RISK/RETURN SUMMARY
1. WHAT IS THE FUND'S GOAL?
The Fund seeks monthly interest income that is exempt from
regular federal income taxes by investing in a fixed
portfolio of primarily 15-to 30-year municipal revenue
bonds.
2. WHAT ARE MUNICIPAL REVENUE BONDS?
Municipal revenue bonds are bonds issued by states,
municipalities and public authorities to finance the cost
of buying, building or improving various projects. Payments
on these bonds generally depend solely on the revenues of
the projects, excise taxes or state appropriations, and are
not backed by the government's taxing power.
3. WHAT IS THE FUND'S INVESTMENT STRATEGY?
O The Fund is a unit investment trust which means that unlike
a mutual fund, the Fund's portfolio is not managed. The
Fund plans to hold to maturity long-term
tax-exempt municipal bonds with an aggregate face amount of
$ million, and some short-term bonds reserved to pay the
deferred sales charge.
o The bonds are rated A or better by Standard & Poor's,
Moody's or Fitch.
o Most of the bonds cannot be called for several years, and
after that they can be called at a premium declining to par
value. Some bonds may be called earlier at par for
extraordinary reasons.
o % of the bonds are insured by a AAA-rated insurance company
that guarantees timely payments of principal and interest
on the bonds (but not Fund units or the market value of the
bonds before they mature).
The Portfolio consists of bonds which depend on revenues
from the following types of projects:
APPROXIMATE
PORTFOLIO
PERCENTAGE
o Airports/Ports/Highways %
o Hospitals/Health Care %
o Housing %
o Industrial Development %
o Lease Rental Appropriation %
o Special Tax Issues %
o Miscellaneous %
4. WHAT ARE THE SIGNIFICANT RISKS?
YOU CAN LOSE MONEY BY INVESTING IN THE FUND FOR VARIOUS
REASONS:
o Rising interest rates, an issuer's negative financial
condition or a drop in bond ratings can depress the price
of your units.
o Because the Fund is concentrated in bonds, adverse
developments in this industry may affect the value of your
units.
o When you sell or redeem your units, they will generally be
worth less than your cost because the cost of your units
includes a sales fee.
o The Fund will receive early returns of principal if bonds
are called or sold before maturity. If this happens your
monthly income will decline and you may not be able to
reinvest the money you receive at the same yield and
maturity.
3
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5. IS THIS FUND APPROPRIATE FOR YOU?
Yes, if you want federally tax-free monthly income. You
will benefit from a professionally selected and supervised
portfolio whose risk is reduced by investing in bonds of
several different issuers.
DEFINING YOUR INCOME
WHAT YOU MAY EXPECT
First Payment per unit ( /25/98): $
Regular Monthly Income per unit
(Beginning /25/98): $
Annual Income per unit: $
RECORD DAY: 10th day of the month
These figures are estimates on the business day before the
initial date of deposit; actual payments may vary.
6. WHAT ARE THE FUND'S FEES AND EXPENSES?
This table shows the costs and expenses you may pay,
directly or indirectly, when you invest in the Fund.
INVESTOR FEES
4.50%
Maximum Sales Fee (Load) on new purchases (as
a percentage of initial unit price)
For the first three years of the Fund you pay a quarterly
deferred sales fee of $3.75 per unit for a maximum of
$45.00. If you buy units after deduction of the first
quarterly charge you will pay an up-front sales fee of
0.375% per unit multiplied by the number of deferred sales
fee payments already deducted.
This maximum deferred sales fee will be reduced if you
purchase 250 or more units, as follows:
YOUR MAXIMUM
SALES CHARGE
IF YOU PURCHASE: WILL BE:
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250 to 499 units $ 40.00 per unit
500 to 749 units $ 35.00 per unit
750 to 999 units $ 32.50 per unit
Over 1,000 units $ 30.00 per unit
Maximum Exchange
Fee 1.50%
ESTIMATED ANNUAL FUND OPERATING EXPENSES
AS A % OF
NET ASSETS PER UNIT
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% $
Trustee's Fee
% $
Portfolio Supervision,
Bookkeeping and
Administrative Fees
% $
Other Operating Expenses
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% $
TOTAL
EXAMPLE
This example may help you compare the cost of investing in
the Fund to the cost of investing in other funds.
The example assumes that you invest $10,000 in the Fund for
the periods indicated and redeem all your units at the end
of those periods. The example also assumes a 5% return on
your investment each year and that the Fund's operating
expenses stay the same. Although your actual costs may be
higher or lower, based on these assumptions your costs
would be:
1 Year 3 Years 5 Years 10 Years
$ $ $ $
You will pay the following expenses if you do not redeem
your units:
1 Year 3 Years 5 Years 10 Years
$ $ $ $
7. HOW HAVE SIMILAR FUNDS PERFORMED IN THE PAST?
This Fund is new and has no performance history. In the
following chart we show past performance of prior Monthly
Payment Series offered between January 1, 1988 and
December 31, 1996 that were outstanding on December 31,
1997. OF COURSE, PAST PERFORMANCE OF PRIOR SERIES IS NO
GUARANTEE OF FUTURE RESULTS OF THIS FUND.
AVERAGE ANNUAL COMPOUND TOTAL RETURNS
Reflecting all expenses and the 4.5% maximum
sales fee. For periods ended 12/31/97
PAST 1 YEAR PAST 5 YEARS
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High 6.43% 6.70%
Average 4.64 5.43
Low 2.90 4.47
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Note: All returns represent changes in unit price with distributions reinvested
into the Municipal Investment Accumulation Program.
8. IS THE FUND MANAGED?
Unlike a mutual fund, the Fund is not managed. Rather,
experienced financial analysts regularly review the bonds
held by the Fund. A bond may be sold by the Fund only if
certain adverse market or credit conditions exist.
4
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9. HOW DO I BUY UNITS?
You can buy units from any of the Sponsors and other
broker-dealers. The Sponsors are listed later in this
prospectus.
The minimum purchase is one unit.
UNIT PRICE $
(as of , 1998)
Unit price is based on the net asset value of the Fund. An
amount equal to any principal cash, as well as net accrued
but undistributed interest on the unit, is added to the
unit price. An independent evaluator prices the bonds at
3:30 p.m. Eastern time every business day. Unit price
changes every day with changes in the price of the bonds
held by the Fund.
UNIT PAR VALUE $1,000
Unit par value means the total amount of money you will
generally receive on each unit by the termination of the
Fund (other than interest and premium on the bonds). This
total amount assumes that all bonds in the portfolio are
either paid at maturity or redeemed by the issuer at par or
are sold by the Fund at par. If you sell or redeem your
units before the Fund terminates, you may receive less than
the unit par value.
10. HOW DO I REDEEM OR SELL UNITS?
You may sell your units any time to the Sponsors or redeem
them directly with the Trustee for the current net asset
value, less any remaining deferred sales fee. There is no
fee for redeeming or selling units.
11. HOW ARE DISTRIBUTIONS MADE AND TAXED?
The Fund pays income monthly. You will also receive
principal from sales, redemptions and maturities of bonds
periodically when the cash available is more than $5.00 a
unit.
Income from the bonds held by this Fund is generally 100%
exempt from regular
federal income tax under existing laws. In the opinion of
bond counsel at the time each bond was issued, a portion of
the income may be exempt from state and local personal
income taxes, depending on where you live. Any gain on the
underlying bonds or units will be subject to capital gains
tax.
12. WHAT OTHER SERVICES ARE AVAILABLE?
Reinvestment
You will receive your monthly income in cash unless you
choose to compound your income by reinvesting at no sales
charge in the Municipal Fund Accumulation Program, Inc.
This Program is an open-end mutual fund with a comparable
investment objective. All reinvested income will be subject
to state and local income taxes. For more complete
information about the Program, including charges and
expenses, request the Program's prospectus from the
Trustee. Read it carefully before you invest. Written
notice to reinvest must be received by the Trustee at least
10 days before the record day of a monthly income payment.
Exchange Privileges
You may exchange units of this Fund for units of certain
other Defined Asset Funds. You may also exchange into this
Fund from certain other funds. A fee will be imposed on all
exchanges.
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TAX-FREE VS. TAXABLE INCOME: A COMPARISON OF TAXABLE AND TAX-FREE YIELDS
<TABLE>
<CAPTION>
TAXABLE INCOME 1998* EFFECTIVE % TAX-FREE YIELD OF
SINGLE RETURN JOINT RETURN TAX BRACKET 4% 4.5% 5% 5.5% 6% 6.5% 7%
IS EQUIVALENT TO A TAXABLE YIELD OF
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0- 24,650 $ 0- 41,200 15.00 4.71 5.29 5.88 6.47 7.06 7.65 8.24
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$ 24,650- 59,750 $ 41,200- 99,600 28.00 5.56 6.25 6.94 7.64 8.33 9.03 9.72
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$ 59,750-124,650 $ 99,600-151,750 31.00 5.80 6.52 7.25 7.97 8.70 9.42 10.14
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$124,650-271,050 $151,750-271,050 36.00 6.25 7.03 7.81 8.59 9.38 10.16 10.94
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OVER $271,050 OVER $271,050 39.60 6.62 7.45 8.28 9.11 9.93 10.76 11.59
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</TABLE>
To compare the yield of a taxable security with the yield of a tax-free
security, find your taxable income and read across. The table incorporates 1998
federal income tax rates and assumes that all income would otherwise be taxed at
the investor's highest tax rate. Yield figures are for example only.
*Based upon net amount subject to federal income tax after deductions and
exemptions. This table does not reflect the possible effect of other tax
factors, such as alternative minimum tax, personal exemptions, the phase out of
exemptions, itemized deductions, the possible partial disallowance of deductions
or state or local taxation. Consequently, you should consult your own tax
advisers in this regard.
5
<PAGE>
WHAT YOU CAN EXPECT FROM YOUR INVESTMENT
MONTHLY INCOME
The Fund will pay you regular monthly income. Your monthly income may vary
because of:
o the inability of a bond issuer to pay interest; or
o a change in the Fund's portfolio or its expenses.
Changes in interest rates generally will not affect your monthly income because
the portfolio is relatively fixed.
Along with your monthly income, you will receive your share of any available
bond principal paid to and distributed by the Fund.
RETURN FIGURES
We cannot predict your actual return, which will vary with unit price, how long
you hold your investment and changes in the portfolio, interest income and
expenses.
Estimated Current Return equals:
Estimated Annual Estimated
Interest Income - Annual Expenses
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Unit Price
Estimated Long Term Return is a measure of the estimated return over the
estimated life of the Fund and is an average of the yields to maturity (or in
certain cases, to an earlier call date) of the individual bonds in the
portfolio, adjusted to reflect the Fund's maximum sales fee and estimated
expenses. We calculate the average yield for the portfolio by weighting each
bond's yield by its market value and the time remaining to the call or maturity
date, depending on how the bond is priced.
Unlike Estimated Current Return, Estimated Long Term Return takes into account
maturities, discounts and premiums of the bonds in the Fund.
Yields on individual bonds depend on many factors including general conditions
of the bond markets, the size of a particular offering and the maturity and
quality rating of the particular issues. Yields can vary among bonds with
similar maturities, coupons and ratings.
These return quotations are designed to be comparative rather than predictive.
RECORDS AND REPORTS
You will receive:
o a monthly statement of income and any principal payments;
o a notice from the Trustee when new bonds are deposited in exchange or
substitution for bonds originally deposited;
o an annual report on Fund activity; and
o annual tax information. This will also be sent to the IRS and you are required
to report the amount of tax-exempt interest received during the year.
You may request:
o copies of bond evaluations to enable you to comply with federal and state tax
reporting requirements; and
o audited financial statements of the Fund.
You may inspect records of Fund transactions at the Trustee's office during
regular business hours.
THE RISKS YOU FACE
INTEREST RATE RISK
Investing involves certain risks, including the risk that your investment will
decline in value if interest rates rise. Generally, bonds with
6
<PAGE>
longer maturities will fluctuate in value more than bonds with shorter
maturities. Bonds in the portfolio are more likely to be redeemed when interest
rates decline. This would result in early returns of principal to you and the
possible early termination of the Fund. Of course, we cannot predict how
interest rates may change.
CONCENTRATION RISK
When a certain type of bond makes up 25% or more of the portfolio, the Fund is
considered 'concentrated' in that bond type, which makes the Fund less
diversified.
Here is what you should know about the Fund's concentration in [hospital and
health care bonds.
o payment for these bonds depends on revenues from private third-party payors
and government programs, including Medicare and Medicaid, which have
generally undertaken cost containment measures to limit payments to health
care providers;
o hospitals face competition resulting from hospital mergers and
affiliations;
o hospitals need to reduce costs as HMOs increase market penetration and
hospital supply and drug companies raise prices;
and
o hospitals and health care providers are subject to various legal claims by
patients and others and are adversely affected by increasing costs of
insurance.]
Changes to the portfolio from bond redemptions, maturities and sales may affect
the Fund's concentration over time.
INSURANCE RELATED RISK
Some bonds are backed by insurance companies whose claims-paying ability is
rated AAA by Standard & Poor's or another nationally recognized rating
organization. The ratings are subject to change at any time at the discretion of
the rating agencies.
Insurance policies generally make payments of principal only according to a
bond's original principal payment schedule
and are not required to make early payments arising out of bond defaults or
events of taxability. Although the federal government does not regulate the
insurance business, various state laws and federal initiatives and tax law
changes could significantly impact the insurance business.
LITIGATION AND LEGISLATION RISKS
We do not know of any pending litigation that might have a material adverse
effect upon the Fund. After the date of this prospectus, litigation could be
initiated that would affect the value of your units.
While the outcome of litigation can never be predicted, bond counsel gives an
opinion on the date of issue of each bond stating that it has been validly
issued and that its interest payments are exempt from federal income tax.
Future tax legislation could affect the value of the portfolio by:
o limiting real property taxes,
o reducing tax rates,
o imposing a flat or other form of tax or
o exempting investment income from tax.
BOND QUALITY RISK
An adverse change in the rating of a portfolio bond may decrease its value and,
indirectly, the value of your investment in the Fund, especially if interest
rates rise.
CALL RISK
Many bonds can be prepaid or 'called' by the issuer before their stated
maturity.
7
<PAGE>
For example, an issuer might redeem its bonds if it no longer needs the money
for the original purpose or, during periods of falling interest rates, if the
issuer's bonds have a coupon higher than current market rates. If the bonds are
redeemed, your monthly income will decline and you may not be able to reinvest
the money you receive at the same yield and maturity. An early redemption at par
of a premium bond will reduce your return.
REDUCED DIVERSIFICATION RISK
If many investors redeem their units, the Fund will have to sell bonds. This
will reduce the diversification of your investment and increase your share of
Fund expenses.
LIQUIDITY RISK
The bonds will generally trade in the over-the-counter market. We cannot
guarantee that a liquid trading market will exist, especially since current law
may restrict the Fund from selling bonds to any Sponsor. The value of the bonds,
and of your investment, will be reduced if trading in bonds is limited or
absent.
REDEEMING, SELLING OR EXCHANGING UNITS
You can redeem or sell your units at any time for a price based on net asset
value. Your net asset value is calculated each business day by:
o adding the value of the bonds, net accrued interest, cash and any other
Fund assets;
o subtracting unpaid taxes or other governmental charges, accrued but unpaid
Fund expenses, unreimbursed Trustee advances, cash held to redeem units or
for distribution to investors and any other Fund liabilities; and
o dividing the result by the number of outstanding units.
Your net asset value when you redeem or sell may be more or less than your cost
because of sales charges, market movements or changes in the portfolio.
If you redeem or sell your units before the final deferred sales charge
installment, the amount of any remaining installments will be deducted from the
proceeds to be paid to you.
REDEEMING UNITS WITH THE TRUSTEE
You can redeem your units by sending the Trustee a letter (with any outstanding
certificates if your units are in certificate form). The certificates must be
properly endorsed or accompanied by a written transfer instrument with
signatures guaranteed by an eligible institution. Sometimes, additional
documents may be 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 by
the Trustee, a check will be mailed to you. Contact the Trustee for additional
information.
As long as we are maintaining a secondary market, the Trustee will sell your
units to the Sponsors for the same amount as the redemption price. If there is
no secondary market, the Trustee will redeem your units or sell them 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 Fund does not have cash available to pay redemptions, the agent for the
Sponsors will select bonds to be sold. Bonds will be selected based on market
and credit factors. These sales
8
<PAGE>
could be made at times when the bonds would not otherwise be sold and may result
in lower prices and also reduce the size and diversity of the Fund.
If you acquire 25% or more of the outstanding units of the Fund and you redeem
units with a value exceeding $250,000, the Trustee may pay part or all of your
redemption 'in kind' by distributing bonds and cash with a total value equal to
the redemption price of those units. The Trustee will try to distribute bonds in
the portfolio pro rata, but it reserves the right to distribute only one or a
few bonds. The Trustee will act as your agent in an in kind distribution and
will either hold the bonds for your account or sell them as you instruct. You
must pay any transaction costs as well as transfer and ongoing custodial fees on
sales of bonds distributed in kind.
We may suspend redemptions or postpone payment:
o if the New York Stock Exchange is closed (other than customary weekend and
holiday closings);
o 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
bonds not reasonably practicable; and
o for any other period permitted by SEC order.
SPONSORS' SECONDARY MARKET
While we are not obligated to do so, we will buy back units at net asset value
without any other fee or charge other than any remaining deferred sales charge.
We may resell the units to other buyers or redeem them with the Trustee. You
should consult your financial professional for current market prices to
determine if other broker-dealers or banks are offering higher prices.
We may discontinue the secondary market without prior notice for any business
reason. Regardless of whether we maintain a secondary market, you can redeem
your units with the Trustee at any time, as described above.
EXCHANGE OPTION
The Defined Asset Funds family offers you the ability to exchange from one fund
into another if your goals or objectives change. You may be entitled to a
reduced sales charge in certain circumstances. To exchange units, you should
talk to your financial professional about what is suitable, currently available,
offerable in your state and what you would pay.
Normally, an exchange is taxable and you must recognize any gain or loss on the
exchange. However, the IRS may try to disallow a loss if the portfolios of the
two funds are not materially different; you should consult your own tax adviser.
We may amend or terminate this exchange option at any time without notice.
HOW THE FUND WORKS
PRICING
The price of a unit includes interest accrued on the bonds, net of expenses,
from the initial date of deposit up to, but not including, the settlement date,
which is usually three business days after the purchase date of the unit.
9
<PAGE>
Bonds also carry accrued but unpaid interest up to the initial date of deposit.
To avoid having you pay this additional accrued interest (which earns no return)
when you buy, the Trustee advances this amount to the Sponsors. The Trustee
recovers this advance from interest received on the bonds.
A portion of the price of a unit consists of cash so the Trustee can provide you
with regular monthly income. When you sell or redeem your units, you will
receive your share of this cash.
In addition, a portion of the price of a unit also consists of cash to pay all
or some of the costs of organizing the Fund including:
o cost of initial preparation of legal documents;
o federal and state registration fees;
o initial fees and expenses of the Trustee;
o initial audit; and
o legal expenses and any other out-of-pocket expenses.
EVALUATIONS
An independent Evaluator values the bonds on each business day (excluding
Saturdays, Sundays and the following holidays as observed by the New York Stock
Exchange: New Year's Day, Presidents' Day, Martin Luther King, Jr. Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas).
Bond values are based on current bid or offer prices for the bonds or comparable
bonds. In the past, the difference between bid and offer prices of publicly
offered tax-exempt bonds has ranged from 0.5% of face amount on actively traded
issues to 3.5% on inactively traded issues; the difference has averaged between
1 and 2%. Neither the Sponsors, the Trustee nor the Evaluator will be liable for
errors in the Evaluator's judgment.
CERTIFICATES
Certificates for units are issued on request. You may transfer certificates by
complying with the requirements for redeeming certificates, described above. You
can replace lost or mutilated certificates by delivering satisfactory indemnity
and paying the associated costs.
INCOME
Interest on any bonds purchased on a when-issued basis or for a delayed delivery
does not begin to accrue interest until the bonds are delivered to the Fund. The
Trustee may reduce its fee to provide you with tax-exempt income for this
non-accrual period. If a bond is not delivered on time and the Trustee's annual
fee and expenses do not cover the additional accrued interest, we will treat the
contract to buy the bond as failed.
The Trustee credits interest 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
Fund in non-interest bearing accounts. Possible additional charges include:
10
<PAGE>
o Trustee fees for extraordinary services and costs of indemnifying the
Trustee and the Sponsors;
o costs of action taken to protect the Fund and other legal fees and
expenses;
o expenses for maintaining the Fund's registration statement current; and
o Fund termination expenses and any governmental charges.
The Sponsors are currently reimbursed up to 35 cents per $1,000 face amount
annually for providing portfolio supervisory services. While this fee may exceed
their costs of providing these services to this Fund, total supervisory fees for
all Series of Municipal Investment Trusts will not exceed the costs of their
services for any calendar year. The Sponsors are also reimbursed for bookkeeping
and administrative services to Defined Asset Funds, currently charged at 10
cents per unit. The Fund also pays the Evaluator's fees.
The Trustee's, Sponsors' and Evaluator's fees may be adjusted for inflation
without investors' approval.
Quarterly deferred sales charges you owe are paid with interest and principal
from certain bonds. If these amounts are not enough, the rest will be paid from
the Fund's Capital and Income Accounts.
The Sponsors will pay advertising and selling expenses at no charge to the Fund.
If Fund expenses exceed initial estimates, the Fund will owe the excess. The
Trustee has a lien on Fund assets to secure reimbursement of Fund expenses and
may sell bonds if cash is not available.
PORTFOLIO CHANGES
The Sponsors and Trustee are not liable for any default or defect in a bond, but
if a contract to buy any bond fails in the first 90 days of the Fund, we
generally will deposit a replacement tax-exempt bond with a similar yield,
maturity, rating and price.
Unlike a mutual fund, the portfolio is designed to remain intact and we may keep
bonds in the portfolio even if their credit quality declines or other adverse
financial circumstances occur. However, we may sell a bond in certain cases if
we believe that certain adverse market or credit conditions exist or if a bond
becomes taxable.
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 will affect the size
and composition of the portfolio. Units offered in the secondary market may not
represent the same face amount of bonds that they did originally.
We decide whether or not to offer units for sale that we acquire in the
secondary market after reviewing:
o diversity of the portfolio;
o size of the Fund relative to its original size;
o ratio of Fund expenses to income;
o current and long-term returns;
o degree to which units may be selling at a premium over par; and
o cost of maintaining a current prospectus.
FUND TERMINATION
The Fund will terminate following the stated maturity or sale of the last bond
in the portfolio. The Fund may also terminate earlier
11
<PAGE>
with the consent of investors holding 51% of the units.
We may also terminate the Fund earlier if total assets of the Fund have fallen
below 40% of the face amount of bonds originally deposited. We will decide
whether to terminate the Fund early based on the same factors used in deciding
whether or not to offer units in the secondary market.
You will receive notice when the Fund is about to terminate, and you will be
unable to redeem units after that time. On or shortly before termination, we
will sell any remaining bonds, although any bond that cannot be sold at a
reasonable price may continue to be held by the Trustee in a liquidating trust
pending its final sale.
You will pay your share of the expenses associated with termination, including
brokerage costs in selling bonds, if you still hold your investment. This may
reduce the amount you receive as your final distribution.
TRUST INDENTURE
The Fund is a 'unit investment trust' formed by a Trust Indenture, a contract
among the Sponsors, the Trustee and the Evaluator. The following summarizes
various provisions of the Indenture.
The Sponsors and the Trustee may amend the Indenture without your consent:
o to cure ambiguities;
o to correct or supplement any defective or inconsistent provision;
o to make any amendment required by any governmental agency; or
o to make other changes determined not to be materially adverse to your best
interest (as determined by the Sponsors).
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 Fund without your written consent.
The Trustee may resign by notifying the Sponsors. The Sponsors may remove the
Trustee without your consent if:
o it fails to perform its duties;
o it becomes incapable of acting or bankrupt or its affairs are taken over by
public authorities; or
o the Sponsors determine that its replacement is in your best interest.
Investors holding 51% of the units may remove the Trustee. The Evaluator may
resign or be removed by the Sponsors and the Trustee without the consent of
investors. The resignation or removal of either 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 or Evaluator may petition a court to appoint
a successor.
Any Sponsor may resign as long as one Sponsor with a net worth of $2 million
remains and agrees to the resignation. The remaining Sponsors and the Trustee
may appoint a replacement. If there is only one Sponsor and it fails to perform
its duties or becomes bankrupt the Trustee may:
o remove it and appoint a replacement Sponsor;
o liquidate the Fund; or
o continue to act as Trustee without a Sponsor.
Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as agent for the
Sponsors.
12
<PAGE>
The Trust Indenture contains customary provisions limiting the liability of the
Trustee, the Sponsors and the Evaluator who are not liable for any act or
omission in the conduct of their duties absent bad faith, willful impropriety,
negligence (gross negligence in the case of a Sponsor or the Evaluator) or
reckless disregard of duty.
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 and their underwriting percentages are:
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (a wholly-owned subsidiary of
Merrill Lynch & Co., Inc.)
P.O. Box 9051,
Princeton, NJ 08543-9051 %
SMITH BARNEY INC. (an indirectly wholly-owned subsidiary of The Travelers Inc.)
388 Greenwich Street--23rd Floor,
New York, NY 10013 %
DEAN WITTER REYNOLDS INC. (a principal operating subsidiary of Morgan Stanley,
Dean Witter, Discover & Co.)
Two World Trade Center--59th Floor,
New York, NY 10048 %
PAINEWEBBER INCORPORATED (a wholly-owned subsidiary of PaineWebber Group Inc.)
1285 Avenue of the Americas,
New York, NY 10019 _______%
100.00%
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.
13
<PAGE>
TRUSTEE
The Bank of New York, 101 Barclay Street, 17 W, New York, New York 10268, 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
Underwriters receive sales charges when they sell units. Sponsors also realize a
profit or loss on deposit of the bonds 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.
A Sponsor or Underwriter may realize profits or sustain losses on bonds in the
Fund which were acquired from underwriting syndicates of which it was a member.
We bought approximately % of the bonds in the portfolio from one or more of
the Sponsors (as sole underwriter, managing underwriter or member of an
underwriting syndicate).
During the initial offering period, the Sponsors also may realize profits or
sustain losses on units they hold. 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 dealers who are members of the National Association of
Securities Dealers, Inc. This period is 30 days or less if all units are sold.
The Sponsors may extend the initial period up to 120 days.
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.
In the initial offering period, the concession to dealers will be $30. We may
change the concession at any time. Dealers may resell units to other dealers
with a concession not in excess of the original concession to dealers.
CODE OF ETHICS
Merrill Lynch, as agent for the Sponsors, has adopted a code of ethics requiring
preclearance and reporting of personal securities transactions by its employees
with access to information on portfolio transactions. The goal of the code is to
prevent fraud, deception or misconduct against the Fund and to provide
reasonable standards of conduct.
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 an investment in the Fund in your particular
circumstances.
At the date of issue of each bond, counsel for the issuer delivered an opinion
to the effect that interest on the bond is exempt from regular federal income
tax. However, interest may be subject to state and local taxes and federal
alternative minimum tax. Neither we
14
<PAGE>
nor our counsel have reviewed the issuance of the bonds, related proceedings or
the basis for the opinions of counsel for the issuers. We cannot assure you that
the issuer (or other users) have complied or will comply with any requirements
necessary for a bond to be tax-exempt. If any of the bonds were determined not
to be tax-exempt, you could be required to pay income tax for current and prior
years, and if the Fund were to sell the bond, it might have to sell it at a
substantial discount.
In the opinion of our counsel, under existing law:
GENERAL TREATMENT OF THE FUND AND YOUR INVESTMENT
The Fund will not be taxed as a corporation for federal income tax purposes, and
you will be considered to own directly your share of each bond in the Fund.
INCOME OR LOSS UPON DISPOSITION
When all or part of your share of a bond is disposed of (for example, when the
Fund sells, exchanges or redeems a bond or when you sell, exchange or redeem
your units), you will generally recognize capital gain or loss. Your gain,
however, will generally be ordinary income to the extent of any accrued 'market
discount'. Generally you will have market discount to the extent that your basis
in a bond when you purchase a unit is less than its stated redemption price at
maturity (or, if it is an original issue discount bond, the issue price
increased by original issue discount that has accrued on the bond before your
purchase). You should consult your tax adviser in this regard.
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 from the Fund will be long-term if you are considered to have held
your investment on each bond for more than one year and short-term if you held
it for one year or less. If you are an individual and sell your units after
holding them for more than 18 months, you may be entitled to a 20% maximum
federal tax rate on any resulting gains. Consult your tax adviser in this
regard. Because the deductibility of capital losses is subject to limitations,
you may not be able to deduct all of your capital losses.
YOUR BASIS IN THE BONDS
Your aggregate basis in the bonds will be equal to the cost of your units,
including any sales charges and the organizational expenses you pay, adjusted to
reflect any accruals of 'original issue discount,' 'acquisition premium' and
'bond premium'. You should consult your tax adviser in this regard.
EXPENSES
If you are not a corporate investor, you will not be entitled to a deduction for
your share of fees and expenses of the Fund. Also, if you borrowed money in
order to purchase or carry your units, you will not be able to deduct the
interest on this borrowing for federal income tax purposes. The IRS may treat
your purchase of units as made with borrowed money even if the money is not
directly traceable to the purchase of units.
STATE AND LOCAL TAXES
Under the income tax laws of the State and City of New York, the Fund will not
be taxed
15
<PAGE>
as a corporation. If you are a New York taxpayer, your income from the Fund will
not be tax-exempt in New York except to the extent that the income is earned on
bonds that are tax-exempt for New York purposes. Depending on where you live,
your income from the Fund may be subject to state and local taxation. You should
consult your tax adviser in this regard.
SUPPLEMENTAL INFORMATION
You can receive at no cost supplemental information about the Fund by calling
the Trustee. The supplemental information includes more detailed risk disclosure
about the types of bonds that may be in the Fund's portfolio, general risk
disclosure concerning any insurance securing certain bonds, and general
information about the structure and operation of the Fund. The supplemental
information is also available from the SEC.
16
<PAGE>
- --------------------------------------------------------------------------------
DEFINED PORTFOLIO
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
RATING COST
PORTFOLIO TITLE (1) COUPON MATURITY OF ISSUES (2) TO FUND (3)
- --------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
AIRPORT/PORTS/HIGHWAYS:
1. %
HOSPITALS/HEALTH CARE:
2. $
3. $
4. $
5.
6.
HOUSING:
7.
$
8.
9.
INDUSTRIAL DEVELOPMENT:
10.
$
LEASE RENTAL APPROPRIATION:
11.
$
12.
SPECIAL TAX:
13.
$
MISCELLANEOUS:
14.
$
15.
--------------------
--------------------
--------------------
</TABLE>
- ------------------------------------
(1) Approximately % of the bonds are callable beginning in 20 .
(2) All ratings are by Standard & Poor's Ratings Group unless followed by
'(f)', which indicates a Fitch Investors Service rating. Ratings A through
AAA indicate good to highest quality bonds with a strong to very strong
capacity to pay interest and repay principal. Fitch ratings have been
furnished by the Evaluator but not confirmed with Fitch.
(3) Approximately % of the bonds were deposited at a premium, % at par
and % at a discount from par. Sponsors' profit on deposit was
$ .
(4) The interest and principal on these bonds will be used to pay the deferred
sales charge obligations of the investors, and these amounts are not
included in the calculation of Estimated Current and Long Term Returns.
17
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
The Sponsors, Trustee and Holders of Municipal Investment Trust Fund, Monthly
Payment Series--613, Defined Asset Funds (the 'Fund'):
We have audited the accompanying statement of condition and the related defined
portfolio included in the prospectus of the Fund as of , 1998. 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 cash, securities and 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 Fund as of ,
1998 in conformity with generally accepted accounting principles.
DELOITTE & TOUCHE LLP
NEW YORK, N.Y.
, 1998
STATEMENT OF CONDITION AS OF , 1998
TRUST PROPERTY
Investments--Bonds and Contracts to purchase Bonds(1) $
Cash
Accrued interest to Initial Date of Deposit on underlying
Bonds
--------------------
Total $
--------------------
--------------------
LIABILITIES AND INTEREST OF HOLDERS
Liabilities: Advance by Trustee for accrued interest (2) $
--------------------
Subtotal
--------------------
Interest of Holders of Units of fractional
undivided interest outstanding:
Cost to investors(3)(4)(5)
--------------------
Total $
--------------------
--------------------
- ---------------
(1) Aggregate cost to the Fund of the bonds listed under Defined
Portfolio is based upon the offer side evaluation determined by the Evaluator at
the evaluation time on the business day prior to the Initial Date of Deposit.
The contracts to purchase the bonds are collateralized by an irrevocable letter
of credit which has been issued by The Bank, New York Branch, in the
amount of $ and deposited with the Trustee. The amount of the
letter of credit includes $ for the purchase of $ face
amount of the bonds, plus $ for accrued interest.
(2) Representing a special distribution to the Sponsors by the Trustee
of an amount equal to the accrued interest on the bonds.
(3) A mandatory distribution of $3.75 per Unit is payable quarterly
May, August, November and February up to an aggregate of $45.00 per Unit over a
three-year period to satisfy investors' deferred sales charge obligation.
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 the end of the third anniversary of
the Fund, the remaining portion of the deferred sales charge distribution will
be transferred to the account on the redemption date.
(4) Aggregate public offering price (exclusive of interest) computed
on the basis of the offer side evaluation of the underlying bonds as of the
evaluation time on the business day prior to the Initial Date of Deposit.
(5) A portion of the Public Offering Price consists of cash in an
amount sufficient to pay for costs incurred in establishing the Portfolio. These
costs have been estimated at $ per Unit. A distribution will be made at the
close of the initial offering period to an account maintained by the Trustee
from which the organizational expense obligation of the investors will be
satisfied.
18
<PAGE>
Defined
Asset FundsSM
HAVE QUESTIONS ? MUNICIPAL INVESTMENT TRUST FUND
Request a free Monthly Payment Series--613
Information Supplement (A Unit Investment Trust)
dated 9/15/97 that gives ---------------------------------------
more details about the This Prospectus does not contain
Fund, by calling: complete information about the
The Bank of New York investment company filed with the
1-800-221-7771 Securities and Exchange Commission in
Washington, D.C. under the:
o Securities Act of 1933 (file no.
333- ) and
o Investment Company Act of 1940 (file
no. 811-1777).
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.
-- /98
<PAGE>
PART II
ADDITIONAL INFORMATION NOT INCLUDED IN THE PROSPECTUS
A. The following information relating to the Depositors is incorporated by
reference to the SEC filings indicated and made a part of this Registration
Statement.
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 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:
Merrill Lynch, Pierce, Fenner & Smith Incorporated 8-7221
Smith Barney Inc. ........................................ 8-8177
PaineWebber Incorporated.................................. 8-16267
Dean Witter Reynolds Inc. ................................ 8-14172
------------------------------------
B. The Internal Revenue Service Employer Identification Numbers of the
Sponsors and Trustee are as follows:
Merrill Lynch, Pierce, Fenner & Smith Incorporated 13-5674085
Smith Barney Inc. ........................................ 13-1912900
PaineWebber Incorporated.................................. 13-2638166
Dean Witter Reynolds Inc. ................................ 94-0899825
The Bank of New York, Trustee............................. 13-4941102
UNDERTAKING
The Sponsors undertake that they will not instruct the Trustee to accept from
(i) Asset Guaranty Reinsurance Company, Municipal Bond Investors Assurance
Corporation or any other insurance company affiliated with any of the Sponsors,
in settlement of any claim, less than an amount sufficient to pay any principal
or interest (and, in the case of a taxability redemption, premium) then due on
any Security in accordance with the municipal bond guaranty insurance policy
attached to such Security or (ii) any affiliate of the Sponsors who has any
obligation with respect to any Security, less than the full amount due pursuant
to the obligation, unless such instructions have been approved by the Securities
and Exchange Commission pursuant to Rule 17d-1 under the Investment Company Act
of 1940.
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 Cross-Reference Sheet (incorporated by reference to the Cross-Reference
Sheet to the Registration Statement of Defined Asset Funds Municipal Series,
1933 Act File No. 33-54565).
The Prospectus.
Additional Information not included in the Prospectus (Part II).
The following exhibits:
*1.1 --Form of Trust Indenture.
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).
2.1 --Form of Certificate of Beneficial Interest (included in Exhibit
1.1.1).
*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 headings
'Taxes' and 'Miscellaneous--Legal Opinion' in the Prospectus.
*4.1 --Consent of the Evaluator.
*5.1 --Consent of independent accountants.
9.1 --Information Supplement (incorporated by reference to Exhibit 9.1 to
the Registration Statement of Municipal Investment Trust Fund,
Intermediate Term Series--308, 1933 Act File No. 333-30863).
- ------------------------------------
*To be filed by amendment.
R-1
<PAGE>
MUNICIPAL INVESTMENT TRUST FUND
MONTHLY PAYMENT SERIES--613
DEFINED ASSET FUNDS
SIGNATURES
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 30TH DAY OF
JANUARY, 1998.
SIGNATURES APPEAR ON PAGES R-3, R-4, R-5 AND R-6.
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 Board of Directors of Smith Barney Inc.
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.
A majority of the members of the Board of Directors of Dean Witter Reynolds
Inc. 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
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: 33-43466 and 33-51607
HERBERT M. ALLISON, JR.
BARRY S. FREIDBERG
EDWARD L. GOLDBERG
STEPHEN L. HAMMERMAN
JEROME P. KENNEY
DAVID H. KOMANSKY
DANIEL T. NAPOLI
THOMAS H. PATRICK
JOHN L. STEFFENS
ROGER M. VASEY
ARTHUR H. ZEIKEL
DANIEL C. TYLER
(As authorized signatory for Merrill Lynch, Pierce,
Fenner & Smith Incorporated and
Attorney-in-fact for the persons listed above)
R-3
<PAGE>
SMITH BARNEY INC.
DEPOSITOR
By the following persons, who constitute a majority of Powers of Attorney
the Board of Directors of Smith Barney Inc.: have been filed
under the 1933 Act
File Numbers:
33-49753, 33-55073
and 333-10441
JAMES DIMON
DERYCK C. MAUGHAN
By GINA LEMON
(As authorized signatory for
Smith Barney Inc. and
Attorney-in-fact for the persons listed above)
R-4
<PAGE>
PAINEWEBBER INCORPORATED
DEPOSITOR
By the following persons, who constitute Powers of Attorney have been filed
a majority of under
the Executive Committee of the Board the following 1933 Act File
of Directors Number: 33-55073
of PaineWebber Incorporated:
JOSEPH J. GRANO, JR.
DONALD B. MARRON
By
ROBERT E. HOLLEY
(As authorized signatory for PaineWebber Incorporated
and Attorney-in-fact for the persons listed above)
R-5
<PAGE>
DEAN WITTER REYNOLDS INC.
DEPOSITOR
By the following persons, who constitute Powers of Attorney have been filed
a majority of under Form SE and the following 1933
the Board of Directors of Dean Witter Act File Numbers: 33-17085 and
Reynolds Inc.: 333-13039
RICHARD M. DeMARTINI
ROBERT J. DWYER
CHRISTINE A. EDWARDS
CHARLES A. FIUMEFREDDO
JAMES F. HIGGINS
MITCHELL M. MERIN
STEPHEN R. MILLER
RICHARD F. POWERS III
PHILIP J. PURCELL
THOMAS C. SCHNEIDER
WILLIAM B. SMITH
By
MICHAEL D. BROWNE
(As authorized signatory for
Dean Witter Reynolds Inc.
and Attorney-in-fact for the persons listed above)
R-6
