supplement dated: march 2, 2020 u-emsspt2020 · the sponsor evaluates a company’s esg profile...

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INVESCO UNIT TRUSTS, SERIES 2020 ESG Opportunity Portfolio 2020-1 Supplement to the Prospectus Effective March 2, 2020, Ingersoll-Rand PLC (ticker: IR) has spun off its industrial segment. The industrial segment then merged with Gardener Denver Holdings, Inc. The resulting merged entity will be known as Ingersoll Rand, Inc. and will maintain the “IR” ticker. Additionally, following the spin-off, Ingersoll-Rand PLC has changed its name to Trane Technologies PLC (ticker: TT). Notwithstanding anything to the contrary in the Prospectus, the Portfolio now holds, and will continue to purchase, shares of both Ingersoll Rand, Inc. and Trane Technologies PLC. Supplement Dated: March 2, 2020 U-EMSSPT2020

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Page 1: Supplement Dated: March 2, 2020 U-EMSSPT2020 · The Sponsor evaluates a company’s ESG profile primarily through examination of the company’s ... 57 Kimberly-Clark Corporation

INVESCO UNIT TRUSTS, SERIES 2020ESG Opportunity Portfolio 2020-1

Supplement to the Prospectus

Effective March 2, 2020, Ingersoll-Rand PLC (ticker: IR) has spun off its industrial segment. The industrial segment thenmerged with Gardener Denver Holdings, Inc. The resulting merged entity will be known as Ingersoll Rand, Inc. and will maintainthe “IR” ticker.

Additionally, following the spin-off, Ingersoll-Rand PLC has changed its name to Trane Technologies PLC (ticker: TT).

Notwithstanding anything to the contrary in the Prospectus, the Portfolio now holds, and will continue to purchase, shares ofboth Ingersoll Rand, Inc. and Trane Technologies PLC.

Supplement Dated: March 2, 2020 U-EMSSPT2020

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ESG Opportunity Portfolio 2020-1

The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 2020. ThePortfolio invests in a portfolio of stocks. Of course, we cannot guarantee that the Portfolio will achieve its objective.

December 13, 2019

You should read this prospectus and retain it for future reference.

The Securities and Exchange Commission has not approved or disapproved of the Unitsor passed upon the adequacy or accuracy of this prospectus.

Any contrary representation is a criminal offense.

INVESCO

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Investment Objective. The Portfolio seeks toprovide the potential for capital appreciation andcurrent income.

Principal Investment Strategy. The Portfolioseeks to achieve its objective by investing in commonstocks of companies demonstrating highly favorableEnvironmental, Social, and Governance (“ESG”)practices. The Sponsor evaluates a company’s ESGprofile primarily through examination of the company’senvironmental impact, social values and risk controls.The components of a favorable ESG profile arecommonly understood to be the following:

• Environmental – Companies that have sought toreduce their impact on the environment byavoiding/mitigating pollution, adopting clean andefficient energy usage and working towardssustainable business practices.

• Social – Companies that value human rightsthrough fair labor practices and equalopportunit ies for al l employees, avoidcontroversial industries like tobacco, gamblingand weapons manufacturing and/or avoid theproduction and distribution of foods containingcontroversial ingredients, such as GMOs.

• Governance – Companies that have adoptedmore rigorous governance practices such asBoard independence, proper executiveincentives and accounting controls.

The Sponsor identifies companies for the portfoliobased on consideration of factors, including, but notlimited to:

• Valuation – Companies whose current valuationsappear attractive relative to long-term trends.

• Growth – Companies with a history of andprospects for above average growth of salesand earnings.

• Cash Flow Generation – Companies with ahistory of generating attractive operating andfree cash flows.

• Balance Sheet – Companies displayingbalance sheet strength evidenced by a historyof achieving strong financial results and makingdisciplined capital management decisions.

• Returns – Companies with a history of above-average returns on invested capital.

From among the companies identified to havedemonstrated highly favorable ESG practices, inassembling the final portfolio, the Sponsor focuseson companies with generally stable or increasinglevels of commitment towards further strengtheningtheir ESG practices.

Of course, we cannot guarantee that your Portfoliowill achieve its objective. The value of your Units mayfall below the price you paid for the Units. You shouldread the “Risk Factors” section before you invest.

The Portfolio is designed as part of a long-terminvestment strategy. The Sponsor may offer asubsequent series of the portfolio when the currentPortfolio terminates. As a result, you may achievemore consistent overall results by following thestrategy through reinvestment of your proceeds overseveral years if subsequent series are available.Repeatedly rol l ing over an investment in a unitinvestment trust may differ from long-term investmentsin other investment products when considering thesales charges, fees, expenses and tax consequencesattributable to a Unitholder. For more information see“Rights of Unitholders--Rollover”.

Principal Risks. As with all investments, you canlose money by investing in this Portfolio. The Portfolioalso might not perform as well as you expect. This canhappen for reasons such as these:

• Security prices will fluctuate. The value ofyour investment may fall over time.

• An issuer may be unwilling or unableto declare dividends in the future, ormay reduce the level of dividendsdeclared. This may result in a reduction inthe value of your Units.

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ESG Opportunity Portfolio

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• The financial condition of an issuer mayworsen or its credit ratings may drop,resulting in a reduction in the value ofyour Units. This may occur at any point intime, including during the initial offering period.

• You could experience dilution of yourinvestment if the size of the Portfolio isincreased as Units are sold. There is noassurance that your investment will maintainits proportionate share in the Portfolio’s profitsand losses.

• The Portfolio invests in securities ofcompanies demonstrating favorableESG practices. The companies may nothave applied favorable ESG practices in thepast and there is no guarantee that thecompanies will continue to apply favorableESG practices over the life of the Portfolio.

• We do not actively manage the Portfolio.Except in limited circumstances, the Portfoliowill hold, and may continue to buy, shares ofthe same securities even if their market valuedeclines.

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Fee Table

The amounts below are estimates of the direct and indirectexpenses that you may incur based on a $10 Public Offering Price perUnit. Actual expenses may vary.

As a % of Public Amount Offering Per 100Sales Charge Price Units _________ _________

Initial sales charge 0.000% $ 0.000Deferred sales charge 1.350 13.500Creation and development fee 0.500 5.000 ______ ______Maximum sales charge 1.850% $18.500 ______ ______ ______ ______

As a % Amount of Net Per 100 Assets Units _________ _________

Estimated Organization Costs 0.667% $6.500 ______ ______ ______ ______

Estimated Annual Expenses Trustee’s fee and operating expenses 0.507% $4.940Supervisory, bookkeeping

and administrative fees 0.056 0.550 ______ ______

Total 0.563% $5.490* ______ ______ ______ ______

Example

This example helps you compare the cost of the Portfolio with otherunit trusts and mutual funds. In the example we assume that theexpenses do not change and that the Portfolio’s annual return is 5%. Youractual returns and expenses will vary. This example also assumes thatyou continue to follow the Portfolio strategy and roll your investment,including all distributions, into a new trust each year subject to a salescharge of 1.85%. Based on these assumptions, you would pay thefollowing expenses for every $10,000 you invest in the Portfolio:

1 year $ 305 3 years 931 5 years 1,580 10 years 3,307

* The estimated annual expenses are based upon the estimated trust sizefor the Portfolio determined as of the initial date of deposit. Becausecertain of the operating expenses are fixed amounts, if the Portfolio doesnot reach the estimated size, or if the value of the Portfolio or number ofoutstanding units decline over the life of the trust, or if the actual amountof the operating expenses exceeds the estimated amounts, the actualamount of the operating expenses per 100 units would exceed theestimated amounts. In some cases, the actual amount of operatingexpenses may substantially differ from the amounts reflected above.

The maximum sales charge is 1.85% of the Public Offering Priceper Unit. There is no initial sales charge at a Public Offering Price of$10 or less. If the Public Offering Price exceeds $10 per Unit, theinitial sales charge is the difference between the total sales charge(maximum of 1.85% of the Public Offering Price) and the sum of theremaining deferred sales charge and the creation and developmentfee. The deferred sales charge is fixed at $0.135 per Unit andaccrues daily from April 10, 2020 through September 9, 2020. YourPortfolio pays a proportionate amount of this charge on the 10th dayof each month beginning in the accrual period until paid in full. Thecombination of the initial and deferred sales charges comprises the“transactional sales charge”. The creation and development fee isfixed at $0.05 per Unit and is paid at the earlier of the end of theinitial offering period (anticipated to be three months) or six monthsfollowing the Initial Date of Deposit. For more detail, see “PublicOffering Price -- General.”

Essential Information

Unit Price at Initial Date of Deposit $10.0000

Initial Date of Deposit December 13, 2019

Mandatory Termination Date March 19, 2021

Historical Annual Distributions1 $0.12226 per Unit

Estimated Initial Distribution1 $0.04 per Unit

Record Dates 10th day of each April,

July and October,

commencing April 10, 2020

Distribution Dates 25th day of each April,

July and October,

commencing April 25, 2020

CUSIP Numbers Cash – 46146C374

Reinvest – 46146C382

Fee Based Cash – 46146C390

Fee Based Reinvest – 46146C408

1 As of close of business day prior to Initial Date of Deposit. The actualdistributions you receive will vary from this per Unit amount due tochanges in the Portfolio’s fees and expenses, in actual income receivedby the Portfolio, currency fluctuations and with changes in the Portfoliosuch as the acquisition or liquidation of securities. See “Rights ofUnitholders--Historical and Estimated Distributions.”

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ESG Opportunity Portfolio 2020-1

Portfolio______________________________________________________________________________________________________________ Cost ofNumber Market Value Securities toof Shares Name of Issuer (1) per Share (2) Portfolio (2) ___________ ___________________________________________ _____________ _____________ Communication Services - 7.66% 125 Verizon Communications, Inc. $ 61.1700 $ 7,646.25 52 Walt Disney Company 147.7600 7,683.52 Consumer Discretionary - 11.63% 66 Lowe’s Companies, Inc. 118.2000 7,801.20+ 62 Royal Caribbean Cruises, Ltd. 124.9900 7,749.38 127 TJX Companies, Inc. 60.8600 7,729.22 Consumer Staples - 7.71% 57 Kimberly-Clark Corporation 135.9200 7,747.44 56 PepsiCo, Inc. 137.1800 7,682.08 Energy - 3.85% 123 ConocoPhillips 62.5900 7,698.57 Financials - 11.40% 15 BlackRock, Inc. 502.1200 7,531.80 56 JPMorgan Chase & Company 138.0200 7,729.12 28 S&P Global, Inc. 270.2900 7,568.12 Health Care - 15.44% 90 Abbott Laboratories 85.9700 7,737.30 104 CVS Health Corporation 74.2600 7,723.04+ 69 Medtronic plc 112.3800 7,754.22 86 Merck & Company, Inc. 89.5700 7,703.02 Industrials - 7.67%+ 57 Ingersoll-Rand plc 134.3900 7,660.23 99 Xylem, Inc. 77.6600 7,688.34 Information Technology - 23.14% 25 Adobe, Inc. 305.9600 7,649.00 72 Keysight Technologies, Inc. 107.3000 7,725.60 51 Microsoft Corporation 153.2400 7,815.24 49 Salesforce.com, Inc. 158.5900 7,770.91 61 Texas Instruments, Inc. 126.0700 7,690.27 42 Visa, Inc. - CL A 182.6400 7,670.88 Materials - 3.83% 33 Air Products and Chemicals, Inc. 232.4000 7,669.20 Real Estate - 3.86% 87 Prologis, Inc. 88.9200 7,736.04 Utilities - 3.81% 173 Exelon Corporation 44.1000 7,629.30___________ ____________ 1,865 $ 200,189.29___________ _______________________ ____________

See “Notes to Portfolio”.

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Notes to Portfolio

(1) The Securities are initially represented by “regular way” contracts for the performance of which an irrevocable letter ofcredit has been deposited with the Trustee. Contracts to acquire Securities were entered into on December 12, 2019and have a settlement date of December 16, 2019 (see “The Portfolio”).

(2) The value of each Security is determined on the bases set forth under “Public Offering--Unit Price” as of the close of theNew York Stock Exchange on the business day before the Initial Date of Deposit. In accordance with FASB AccountingStandards Codification (“ASC”), ASC 820, Fair Value Measurements and Disclosures, the Portfolio’s investments areclassified as Level 1, which refers to security prices determined using quoted prices in active markets for identicalsecurities. Other information regarding the Securities, as of the Initial Date of Deposit, is as follows:

Profit Cost to (Loss) To Sponsor Sponsor ______________ _____________

ESG Opportunity Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 200,227 $ (38)

“+” indicates that the security was issued by a foreign company.

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Sponsor and Unitholders of Invesco Unit Trusts, Series 2020:

Opinion on the Financial Statements

We have audited the accompanying statement of condition (including the related portfolio schedule) ofESG Opportunity Portfolio 2020-1 (included in Invesco Unit Trusts, Series 2020 (the “Trust”)) as ofDecember 13, 2019, and the related notes (collectively referred to as the “financial statements”). In ouropinion, the financial statements present fairly, in all material respects, the financial position of the Trust as ofDecember 13, 2019, in conformity with accounting principles generally accepted in the United States ofAmerica.

Basis for Opinion

These financial statements are the responsibility of Invesco Capital Markets, Inc., the Sponsor. Ourresponsibility is to express an opinion on the Trust’s financial statements based on our audit. We are a publicaccounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)and are required to be independent with respect to the Trust in accordance with the U.S. federal securitieslaws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require thatwe plan and perform the audit to obtain reasonable assurance about whether the financial statements arefree of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were weengaged to perform, an audit of its internal control over financial reporting. As part of our audit we arerequired to obtain an understanding of internal control over financial reporting but not for the purpose ofexpressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly,we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financialstatements, whether due to error or fraud, and performing procedures that respond to those risks. Suchprocedures included examining, on a test basis, evidence regarding the amounts and disclosures in thefinancial statements. Our audit also included evaluating the accounting principles used and significantestimates made by the Sponsor, as well as evaluating the overall presentation of the financial statements. Ourprocedures included confirmation of cash or irrevocable letters of credit deposited for the purchase ofsecurities as shown in the statements of condition as of December 13, 2019 by correspondence with TheBank of New York Mellon, Trustee. We believe that our audit provide a reasonable basis for our opinion.

/s/ GRANT THORNTON LLP

We have served as the auditor of one or more of the unit investment trusts, sponsored by Invesco CapitalMarkets, Inc. and its predecessors, since 1976.

New York, New YorkDecember 13, 2019

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STATEMENT OF CONDITIONAs of December 13, 2019

INVESTMENT IN SECURITIESContracts to purchase Securities (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 200,189 ___________ Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 200,189 ___________ ___________

LIABILITIES AND INTEREST OF UNITHOLDERSLiabilities-- Organization costs (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,301 Deferred sales charge liability (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,703 Creation and development fee liability (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,001Interest of Unitholders-- Cost to investors (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,189Less: deferred sales charge, creation and development fee and organization costs (2)(4)(5)(6) . . . . . . . . . . . . . . . . 5,005 ___________ Net interest to Unitholders (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195,184 ___________ Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 200,189 ___________ ___________Units outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,019 ___________ ___________Net asset value per Unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9.750 ___________ ___________

(1) The value of the Securities is determined by the Trustee on the bases set forth under “Public Offering--Unit Price”. The contracts to purchaseSecurities are collateralized by separate irrevocable letters of credit which has been deposited with the Trustee.

(2) A portion of the Public Offering Price represents an amount sufficient to pay for all or a portion of the costs incurred in establishing a Portfolio.The amount of these costs are set forth in the “Fee Table”. A distribution will be made as of the earlier of the close of the initial offering period(approximately three months) or six months following the Initial Date of Deposit to an account maintained by the Trustee from which theorganization expense obligation of the investors will be satisfied. To the extent that actual organization costs of a Portfolio are greater than theestimated amount, only the estimated organization costs added to the Public Offering Price will be reimbursed to the Sponsor and deductedfrom the assets of the Portfolio.

(3) Represents the amount of mandatory distributions from a Portfolio on the bases set forth under “Public Offering”.(4) The creation and development fee is payable by a Portfolio on behalf of Unitholders out of the assets of the Portfolio as of the close of the

initial offering period. If Units are redeemed prior to the close of the initial public offering period, the fee will not be deducted from the proceeds.(5) The aggregate public offering price and the aggregate sales charge are computed on the bases set forth under “Public Offering”.(6) Assumes the maximum sales charge.

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THE PORTFOLIO

The Portfolio was created under the laws of the Stateof New York pursuant to a Trust Indenture and TrustAgreement (the “Trust Agreement”), dated the date ofthis prospectus (the “Initial Date of Deposit”), amongInvesco Capital Markets, Inc., as Sponsor, InvescoInvestment Advisers LLC, as Supervisor, and The Bankof New York Mellon, as Trustee.

The Portfolio offers investors the opportunity topurchase Units representing proportionate interests in aportfolio of equity securities. The Portfolio may be anappropriate medium for investors who desire topart icipate in a portfol io of stocks with greaterdiversification than they might be able to acquireindividually.

On the Initial Date of Deposit, the Sponsor depositeddelivery statements relating to contracts for thepurchase of the Securities and an irrevocable letter ofcredit in the amount required for these purchases withthe Trustee. In exchange for these contracts the Trusteedelivered to the Sponsor documentation evidencing theownership of Units of the Portfolio. Unless otherwiseterminated as provided in the Trust Agreement, thePortfolio will terminate on the Mandatory TerminationDate and any remaining Securities will be liquidated ordistributed by the Trustee within a reasonable time. Asused in this prospectus the term “Securities” means thesecurities (including contracts to purchase thesesecurities) listed in the “Portfolio” and any additionalsecurities deposited into the Portfolio.

Additional Units of a Portfolio may be issued at anytime by deposit ing in the Portfol io ( i ) addit ionalSecurities, (ii) contracts to purchase Securities togetherwith cash or irrevocable letters of credit or (iii) cash (or aletter of credit or the equivalent) with instructions topurchase additional Securities. As additional Units areissued by a Portfolio, the aggregate value of theSecurities will be increased and the fractional undividedinterest represented by each Unit may be decreased.The Sponsor may continue to make additional depositsinto a Portfolio following the Initial Date of Depositprovided that the additional deposits will be in amountswhich will maintain, as nearly as practicable, the same

percentage relationship among the number of shares ofeach Security in the Portfolio that existed immediatelyprior to the subsequent deposit. Investors mayexperience a dilution of their investments and areduction in their anticipated income because offluctuations in the prices of the Securities between thetime of the deposit and the purchase of the Securitiesand because the Portfolio will pay the associatedbrokerage or acquisition fees. In addition, during theinitial offering of Units it may not be possible to buy apart icular Security due to regulatory or tradingrestrictions, or corporate actions. While such limitationsare in effect, additional Units would be created bypurchasing each of the Securities in your Portfolio thatare not subject to those limitations. This would alsoresult in the dilution of the investment in any suchSecurity not purchased and potential variances inanticipated income. Purchases and sales of Securitiesby your Portfolio may impact the value of the Securities.This may especially be the case during the initial offeringof Units, upon Portfolio termination and in the course ofsatisfying large Unit redemptions.

Each Unit of your Portfolio initially offered representsan undivided interest in the Portfolio. At the close of theNew York Stock Exchange on the Init ial Date ofDeposit, the number of Units may be adjusted so thatthe Public Offering Price per Unit equals $10. Thenumber of Units, fractional interest of each Unit in yourPortfolio and the per Unit amount of historical annualdistributions will increase or decrease to the extent ofany adjustment. To the extent that any Units areredeemed to the Trustee or additional Units are issuedas a result of additional Securities being deposited bythe Sponsor, the fractional undivided interest in yourPortfolio represented by each unredeemed Unit willincrease or decrease accordingly, although the actualinterest in your Portfolio will remain unchanged. Unitswill remain outstanding until redeemed upon tender tothe Trustee by Unitholders, which may include theSponsor, or until the termination of the Trust Agreement.

The Portfolio consists of (a) the Securities (includingcontracts for the purchase thereof) listed under the“Portfolio” as may continue to be held from time to timein the Portfolio, (b) any additional Securities acquired

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and held by the Portfolio pursuant to the provisions ofthe Trust Agreement and (c) any cash held in the relatedIncome and Capital Accounts. Neither the Sponsor northe Trustee shall be liable in any way for any contractfailure in any of the Securities.

OBJECTIVES AND SECURITIES SELECTION

The objective and investment strategy of the Portfoliois described in the Portfolio section. There is noassurance that a Portfolio will achieve its objective.

The Sponsor does not manage the Portfolio. Youshould note that the Sponsor applied the selectioncriteria to the Securities for inclusion in your Portfolioprior to the Initial Date of Deposit. After this time, theSecurities may no longer meet the selection criteria.Should a Security no longer meet the selection criteria,we will generally not remove the Security from itsPortfolio. In offering the Units to the public, neither theSponsor nor any broker-dealers are recommending anyof the individual Securities but rather the entire pool ofSecurities in a Portfolio, taken as a whole, which arerepresented by the Units.

RISK FACTORS

All investments involve risk. This section describesthe main r isks that can impact the value of thesecurities in your Portfolio. You should understandthese risks before you invest. If the value of thesecurities falls, the value of your Units will also fall. Wecannot guarantee that your Portfolio will achieve itsobjective or that your investment return will be positiveover any period.

Market Risk. Market risk is the risk that the value ofthe securities in your Portfolio will fluctuate. This couldcause the value of your Units to fall below your originalpurchase price. Market value fluctuates in response tovarious factors. These can include changes in interestrates, inflation, the financial condition of a security’sissuer, perceptions of the issuer, or ratings on a securityof the issuer. Even though your Portfolio is supervised,you should remember that we do not manage yourPortfolio. Your Portfolio will not sell a security solely

because the market value falls as is possible in amanaged fund.

Dividend Payment Risk. Dividend payment risk isthe risk that an issuer of a security is unwilling or unableto pay dividends on a security. Stocks representownership interests in the issuers and are notobligations of the issuers. Common stockholders havea right to receive dividends only after the company hasprovided for payment of its creditors, bondholders andpreferred stockholders. Common stocks do not assuredividend payments. Dividends are paid only whendeclared by an issuer’s board of directors and theamount of any dividend may vary over time. If dividendsreceived by your Portfolio are insufficient to coverexpenses, redemptions or other Portfolio costs, it maybe necessary for your Portfolio to sell Securities tocover such expenses, redemptions or other costs. Anysuch sales may result in capital gains or losses to you.See “Taxation”.

ESG Strategy Risk. Your Portfol io investsexclusively in companies demonstrating favorableEnvironmental, Social, and Governance (“ESG”)practices. As a result, the Portfolio may be exposed tocertain companies or industries and may forego othermarket opportunities available to an investment strategythat does not limit itself to investments in companiesexhibiting favorable ESG practices. This may affect thePortfolio’s investment performance, negatively orpositively, compared to the stock market as a wholeand compared to other investment strategies.

Industry Risks. Your Portfol io may investsignificantly in certain industries. Any negative impacton the related industry will have a greater impact on thevalue of Units than on a portfolio diversified over severalindustries. You should understand the risks of theseindustries before you invest.

The relative weighting or composition of yourPortfolio may change during the life of your Portfolio.Following the Initial Date of Deposit, the Sponsorintends to issue additional Units by depositing in yourPortfolio additional securities in a manner consistentwith the provisions described in the above sectionentitled “The Portfolio”. As described in that section, it

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may not be possible to retain or continue to purchaseone or more Securities in your Portfolio. In addition, dueto certain limited circumstances described under“Portfolio Administration”, the composition of theSecurities in your Portfolio may change. Accordingly,the fluctuations in the relative weighting or compositionof your Portfolio may result in concentrations (25% ormore of a Portfolio’s assets) in securities of a particulartype, industry and/or geographic region described inthis section.

Consumer Discretionary and Consumer StaplesIssuers. Your Portfolio invests significantly in companiesthat manufacture or sell various consumer products.General risks of these companies include the overallstate of the economy, intense competit ion andconsumer spending trends. A decline in the economywhich results in a reduction of consumers’ disposableincome can negatively impact spending habits. Globalfactors including political developments, imposition ofimport controls, fluctuations in oil prices, and changesin exchange rates may adversely affect issuers ofconsumer products and services.

Competitiveness in the retail industry may requirelarge capital outlays for the installation of automatedcheckout equipment to control inventory, track the saleof items and gauge the success of sales campaigns.Retailers who sell their products over the Internet havethe potential to access more consumers, but mayrequire sophisticated technology to remain competitive.Changes in demographics and consumer tastes canalso affect the demand for, and the success of,consumer products and services in the marketplace.Consumer products and services companies may besubject to government regulation affecting theirproducts and operations which may negatively impactperformance. Tobacco companies may be adverselyaffected by new laws, regulations and litigation.

Health Care Issuers. Your Portfol io investssignificantly in health care companies. These issuersinclude companies involved in advanced medicaldevices and instruments, drugs and biotechnology,managed care, hospital management/health servicesand medical suppl ies. These companies facesubstantial government regulation and approval

procedures. General risks of health care companiesinclude extensive competition, product liability litigationand evolving government regulation.

On March 30, 2010, the Health Care and EducationReconciliation Act of 2010 (incorporating the PatientProtection and Affordable Care Act, collectively the“Act”) was enacted into law. The Act continues to havea significant impact on the health care sector throughthe implementation of a number of reforms in a complexand ongoing process, with varying effective dates.Significant provisions of the Act include the introductionof required health care coverage for most Americans,significant expansion in the number of Americanseligible for Medicaid, modification of taxes and taxcredits in the health care sector, and subsidizedinsurance for low to middle income families. The Actalso provides for more thorough regulation of privatehealth insurance providers, including a prohibition onthe denial of coverage due to pre-existing conditions.Health care companies wil l face continuing andsignificant changes that may cause a decrease inprofitability due to increased costs and changes in thehealth care market. In addition, the current presidentialadministration is seeking to repeal the Act and manyaspects of it are therefore in flux. In late 2017, alongwith the passage of sweeping tax reform, legislationwas passed which eliminated the individual mandate (apenalty for failure to obtain a minimum level of healthinsurance coverage) beginning in 2019. It is estimatedthat the repeal of the individual mandate will cause asignificant amount of people to be uninsured which mayhave an adverse effect on insurance premiums andfederal subsidies. The Sponsor is unable to predict thefull impact of the Act, or of its potential repeal ormodification, on the Securities in your Portfolio.

As illustrated by the Act, Congress may from time totime propose legislative action that will impact thehealth care sector. The proposals may span a widerange of topics, including cost and price controls (whichmay include a freeze on the prices of prescriptiondrugs), incentives for competition in the provision ofhealth care services, promotion of pre-paid health careplans and additional tax incentives and penalties aimed

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at the health care sector. The government could alsoreduce funding for health care related research.

Drug and medical products companies also face therisk of increasing competition from new products orservices, generic drug sales, product obsolescence,increased government regulation, termination of patentprotection for drug or medical supply products and therisk that a product will never come to market. Theresearch and development costs of bringing a new drugor medical product to market are substantial. Thisprocess involves lengthy government review with noguarantee of approval. These companies may havelosses and may not offer proposed products for severalyears, if at all. The failure to gain approval for a new drugor product can have a substantial negative effect on acompany and its stock. The goods and services of healthcare issuers are also subject to risks of malpracticeclaims, product liability claims or other litigation.

Health care facility operators face risks related todemand for services, the ability of the facility to providerequired services, an increased emphasis on outpatientservices, confidence in the facil ity, managementcapabilities, competitive forces that may result in pricediscounting, efforts by insurers and governmentagencies to limit rates, expenses, the cost and possibleunavailability of malpractice insurance, and terminationor restriction of government financial assistance (suchas Medicare, Medicaid or similar programs).

Information Technology Issuers. Your Portfolio investssignificantly in information technology companies.These companies include companies that are involvedin computer and business services, enterprisesoftware/technical software, Internet and computersoftware, Internet-related services, networking andtelecommunications equipment, telecommunicationsservices, electronics products, server hardware,computer hardware and peripherals, semiconductorcapital equipment and semiconductors. Thesecompanies face risks related to rapidly changingtechnology, rapid product obsolescence, cyclicalmarket patterns, evolving industry standards andfrequent new product introductions.

Companies in this sector face risks from rapidchanges in technology, competition, dependence oncertain suppliers and supplies, rapid obsolescence ofproducts or services, patent termination, frequent newproducts and government regulation. These companiescan also be adversely affected by interruption orreduction in supply of components or loss of keycustomers and failure to comply with certain industrystandards.

An unexpected change in technology can have asignificant negative impact on a company. The failure ofa company to introduce new products or technologiesor keep pace with rapidly changing technology canhave a negative impact on the company's results.Information technology companies may also be smallerand/or less experienced companies with limited productlines, markets or resources. Stocks of some Internetcompanies have high price-to-earnings ratios with littleor no earnings histories. Information technology stockstend to experience substantial price volatility andspeculative trading. Announcements about newproducts, technologies, operating results or marketingal l iances can cause stock prices to f luctuatedramatically. At times, however, extreme price andvolume fluctuations are unrelated to the operatingperformance of a company. This can impact your abilityto redeem your Units at a price equal to or greater thanwhat you paid.

Legislation/Litigation. From time to time, variouslegislative initiatives are proposed in the United Statesand abroad which may have a negative impact oncertain of the companies represented in your Portfolio,or on the tax treatment of your Portfolio or of yourinvestment in a Portfolio. In addition, litigation regardingany of the issuers of the Securities, or of the industriesrepresented by these issuers may negatively impact theshare prices of these Securities. No one can predictwhat impact any pending or threatened litigation willhave on the share prices of the Securities.

Liquidity Risk. Liquidity risk is the risk that the valueof a security will fall if trading in the security is limited orabsent. The market for certain investments may becomeless liquid or illiquid due to adverse changes in theconditions of a particular issuer or due to adverse

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market or economic conditions. In the absence of aliquid trading market for a particular security, the price atwhich such security may be sold to meet redemptions,as well as the value of the Units of your Portfolio, may beadversely affected. No one can guarantee that a liquidtrading market will exist for any security.

No FDIC Guarantee. An investment in yourPortfolio is not a deposit of any bank and is not insuredor guaranteed by the Federal Deposit InsuranceCorporation or any other government agency.

PUBLIC OFFERING

General. Units are offered at the Public OfferingPrice which consists of the net asset value per Unit plusorganization costs plus the sales charge. The net assetvalue per Unit is the value of the securities, cash andother assets in your Portfolio reduced by the liabilities ofthe Portfolio divided by the total Units outstanding. Themaximum sales charge equals 1.85% of the PublicOffering Price per Unit (1.885% of the aggregateoffering price of the Securities) at the time of purchase.

The initial sales charge is the difference between thetotal sales charge amount (maximum of 1.85% of thePublic Offering Price per Unit) and the sum of theremaining fixed dollar deferred sales charge and thefixed dollar creation and development fee (initially$0.185 per Unit). Depending on the Public OfferingPrice per Unit, you pay the initial sales charge at thetime you buy Units. The deferred sales charge is fixedat $0.135 per Unit. Your Portfolio pays the deferredsales charge in installments as described in the “FeeTable.” If any deferred sales charge payment date isnot a business day, we will charge the payment on thenext business day. If you purchase Units after the initialdeferred sales charge payment, you will only pay thatportion of the payments not yet collected. If youredeem or sell your Units prior to collection of the totaldeferred sales charge, you will pay any remainingdeferred sales charge upon redemption or sale of yourUnits. The initial and deferred sales charges arereferred to as the “transactional sales charge.” Thetransactional sales charge does not include thecreation and development fee which compensates theSponsor for creating and developing your Portfolio and

is described under “Expenses.” The creation anddevelopment fee is fixed at $0.05 per Unit. YourPortfolio pays the creation and development fee as ofthe close of the initial offering period as described inthe “Fee Table.” If you redeem or sell your Units prior tocollection of the creation and development fee, you willnot pay the creation and development fee uponredemption or sale of your Units. After the initialoffering period the maximum sales charge will bereduced by 0.50%, reflecting the previous collection ofthe creation and development fee. Because thedeferred sales charge and creation and developmentfee are fixed dollar amounts per Unit, the actualcharges will exceed the percentages shown in the “FeeTable” if the Public Offering Price per Unit falls below$10 and will be less than the percentages shown in the“Fee Table” if the Public Offering Price per Unit exceeds$10. In no event will the maximum total sales chargeexceed 1.85% of the Public Offering Price per Unit.

The “Fee Table” shows the sales charge calculationat a $10 Public Offering Price per Unit. At a $10 PublicOffering Price, there is no initial sales charge during theinitial offering period. If the Public Offering Priceexceeds $10 per Unit, you will pay an initial salescharge equal to the difference between the total salescharge and the sum of the remaining deferred salescharge and the creation and development fee. Forexample, if the Public Offering Price per Unit rose to$14, the maximum sales charge would be $0.259(1.85% of the Public Offering Price per Unit), consistingof an initial sales charge of $0.074, a deferred salescharge of $0.135 and the creation and development feeof $0.050. Since the deferred sales charge and creationand development fee are fixed dollar amounts per Unit,your Portfolio must charge these amounts per Unitregardless of any decrease in net asset value. However,if the Public Offering Price per Unit falls to the extentthat the maximum sales charge percentage results in adollar amount that is less than the combined fixed dollaramounts of the deferred sales charge and creation anddevelopment fee, your initial sales charge will be a creditequal to the amount by which these fixed dollar chargesexceed your sales charge at the time you buy Units. Insuch a situation, the value of securities per Unit would

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exceed the Public Offering Price per Unit by the amountof the initial sales charge credit and the value of thosesecurities will fluctuate, which could result in a benefit ordetriment to Unitholders that purchase Units at thatprice. The initial sales charge credit is paid by theSponsor and is not paid by the Portfolio. If the PublicOffering Price per Unit fell to $6, the maximum salescharge would be $0.111 (1.85% of the Public OfferingPrice per Unit), which consists of an initial sales charge(credit) of -$0.074, a deferred sales charge of $0.135and a creation and development fee of $0.050.

The actual sales charge that may be paid by aninvestor may differ slightly from the sales chargesshown herein due to rounding that occurs in thecalculation of the Public Offering Price and in thenumber of Units purchased.

The minimum purchase is 100 Units (25 Units forretirement accounts) but may vary by selling firm.Certain broker-dealers or selling firms may charge anorder handling fee for processing Unit purchases.

Reducing Your Sales Charge. The Sponsoroffers ways for you to reduce the sales charge that youpay. It is your financial professional’s responsibility toalert the Sponsor of any discount when you purchaseUnits. Before you purchase Units you must also informyour financial professional of your qualification for anydiscount to be eligible for a reduced sales charge. Sincethe deferred sales charges and creation anddevelopment fee are fixed dollar amounts per Unit, yourPortfol io must charge these amounts per Unitregardless of any discounts. However, if you are eligibleto receive a discount such that your total sales chargeis less than the fixed dollar amounts of the deferredsales charges and creation and development fee, youwill receive a credit equal to the difference between yourtotal sales charge and these fixed dollar charges at thetime you buy Units.

Fee Accounts. Investors may purchase Units throughregistered investment advisers, certified financialplanners and registered broker-dealers who in eachcase either charge periodic fees for brokerage services,f inancial planning, investment advisory or assetmanagement services, or provide such services in

connection with the establishment of an investmentaccount for which a comprehensive “fee based” charge(“Fee Based”) is imposed (“Fee Accounts”). If Units of aPortfolio are purchased for a Fee Account and thePortfolio is subject to a Fee Based charge (i.e., thePortfolio is “Fee Based Eligible”), then the purchase willnot be subject to the transactional sales charge but willbe subject to the creation and development fee of$0.05 per Unit that is retained by the Sponsor. Pleaserefer to the section called “Fee Accounts” for additionalinformation on these purchases. The Sponsor reservesthe right to limit or deny purchases of Units described inthis paragraph by investors or selling firms whosefrequent trading activity is determined to be detrimentalto a Portfolio. Fee Based Eligible Units are not eligiblefor any sales charge discounts in addition to that whichis described in this paragraph and under the “FeeAccounts” section found below.

Employees. Employees, officers and directors(including their spouses (or the equivalent if recognizedunder local law) and children or step-children under 21living in the same household, parents or step-parentsand trustees, custodians or fiduciaries for the benefit ofsuch persons) of Invesco Capital Markets, Inc. and itsaffiliates, and dealers and their affiliates may purchaseUnits at the Public Offering Price less the applicabledealer concession. All employee discounts are subjectto the pol icies of the related sel l ing f irm. Onlyemployees, officers and directors of companies thatallow their employees to participate in this employeediscount program are eligible for the discounts.

Distribution Reinvestments. We do not charge anysales charge when you reinvest distributions from yourPortfolio into additional Units of your Portfolio. Since thedeferred sales charge and creation and developmentfee are fixed dollar amounts per unit, your Portfolio mustcharge these amounts per unit regardless of thisdiscount. If you elect to reinvest distributions, theSponsor will credit you with additional Units with adollar value sufficient to cover the amount of anyremaining deferred sales charge and creation anddevelopment fee that will be collected on such Units atthe time of reinvestment. The dollar value of these Unitswill fluctuate over time.

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Unit Price. The Public Offering Price of Units willvary from the amounts stated under “EssentialInformation” in accordance with fluctuations in the pricesof the underlying Securities in the Portfolio. The initialprice of the Securities upon deposit by the Sponsor wasdetermined by the Trustee. The Trustee will generallydetermine the value of the Securities as of the EvaluationTime on each business day and will adjust the PublicOffering Price of Units accordingly. The Evaluation Timeis the close of the New York Stock Exchange on eachbusiness day. The term “business day”, as used hereinand under “Rights of Unitholders--Redemption of Units”,means any day on which the New York Stock Exchangeis open for regular trading. The Public Offering Price perUnit will be effective for all orders received prior to theEvaluation Time on each business day. Orders receivedby the Sponsor prior to the Evaluation Time and ordersreceived by authorized financial professionals prior to theEvaluation Time that are properly transmitted to theSponsor by the time designated by the Sponsor, arepriced based on the date of receipt. Orders received bythe Sponsor after the Evaluation Time, and ordersreceived by authorized financial professionals after theEvaluation Time or orders received by such persons thatare not transmitted to the Sponsor until after the timedesignated by the Sponsor, are priced based on thedate of the next determined Public Offering Price perUnit provided they are received timely by the Sponsor onsuch date. It is the responsibility of authorized financialprofessionals to transmit orders received by them to theSponsor so they will be received in a timely manner.

The value of portfolio securities is based on thesecurities’ market price when available. When a marketprice is not readily available, including circumstancesunder which the Trustee determines that a security’smarket price is not accurate, a portfolio security isvalued at its fair value, as determined under proceduresestablished by the Trustee or an independent pricingservice used by the Trustee. In these cases, a Portfolio’snet asset value will reflect certain portfolio securities’ fairvalue rather than their market price. With respect tosecurities that are primarily listed on foreign exchanges,the value of the portfolio securities may change on dayswhen you will not be able to purchase or sell Units. The

value of any foreign securit ies is based on theapplicable currency exchange rate as of the EvaluationTime. The Sponsor will provide price dissemination andoversight services to the Portfolio.

During the initial offering period, part of the PublicOffering Price represents an amount that will pay thecosts incurred in establishing your Portfolio. Thesecosts include the costs of preparing documents relatingto your Portfolio (such as the registration statement,prospectus, trust agreement and legal documents),federal and state registration fees, the initial fees andexpenses of the Trustee and the initial audit. YourPortfolio will sell securities to reimburse us for thesecosts at the end of the initial offering period or after sixmonths, if earlier. The value of your Units will declinewhen your Portfolio pays these costs.

Unit Distribution. Units will be distributed to thepublic by the Sponsor, broker-dealers and others at thePublic Offer ing Price. Units repurchased in thesecondary market, if any, may be offered by thisprospectus at the secondary market Public OfferingPrice in the manner described above.

Unit Sales Concessions. Brokers, dealers and otherswil l be al lowed a regular concession or agencycommission in connection with the distribution of Unitsduring the initial offering period of 1.25% of the PublicOffering Price per Unit.

Volume Concession Based Upon Annual Sales. Asdescribed below, broker-dealers and other sellingagents may in certain cases be eligible for an additionalconcession based upon their annual eligible sales of allInvesco fixed income and equity unit investment trusts.Eligible sales include all units of any Invesco unitinvestment trust underwritten or purchased directly fromInvesco during a trust’s initial offering period. Forpurposes of this concession, trusts designated as either“Invesco Unit Trusts, Taxable Income Series” or“Invesco Unit Trusts, Municipal Series” are fixed incometrusts, and trusts designated as “Invesco Unit TrustsSeries” are equity trusts. In addition to the regularconcessions or agency commissions described abovein “Unit Sales Concessions” all broker-dealers and othersell ing firms wil l be eligible to receive additional

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compensation based on total initial offering period salesof all eligible Invesco unit investment trusts during theprevious consecutive 12-month period through the endof the most recent month. The Volume Concession, asapplicable to equity and fixed income trust units, is setforth in the following table:

Volume Concession ____________________ Total Sales Equity Trust Fixed Income (in millions) Units Trust Units______________________ ____________ ______________

$25 but less than $100 0.035% 0.035%$100 but less than $150 0.050 0.050$150 but less than $250 0.075 0.075$250 but less than $1,000 0.100 0.100$1,000 but less than $5,000 0.125 0.100$5,000 but less than $7,500 0.150 0.100$7,500 or more 0.175 0.100

Broker-dealers and other selling firms will not receivethe Volume Concession on the sale of units purchasedin Fee Accounts, however, such sales will be included indetermining whether a firm has met the sales levelbreakpoints set forth in the Volume Concession tableabove. Secondary market sales of all unit investmenttrusts are excluded for purposes of the VolumeConcession. Eligible dealer firms and other sellingagents include clearing firms that place orders withInvesco and provide Invesco with information withrespect to the representatives who initiated suchtransactions. Eligible dealer firms and other sellingagents will not include firms that solely provide clearingservices to other broker-dealer firms or firms who placeorders through clearing firms that are eligible dealers. Wereserve the right to change the amount of theconcessions or agency commissions from time to time.For a trust to be eligible for this additional compensation,the trust’s prospectus must include disclosure related tothis additional compensation.

Additional Information. Except as provided in thissection, any sales charge discount provided toinvestors will be borne by the selling broker-dealer oragent. For all secondary market transactions the totalconcession or agency commission will amount to 80%of the applicable sales charge. Notwithstandinganything to the contrary herein, in no case shall the total

of any concessions, agency commissions and anyadditional compensation allowed or paid to any broker,dealer or other distributor of Units with respect to anyindividual transaction exceed the total sales chargeapplicable to such transaction. The Sponsor reservesthe right to reject, in whole or in part, any order for thepurchase of Units and to change the amount of theconcession or agency commission to dealers andothers from time to time.

We may provide, at our own expense and out of ourown profits, additional compensation and benefits tobroker-dealers who sell Units of the Portfolio and ourother products. This compensation is intended to resultin additional sales of our products and/or compensatebroker-dealers and financial advisors for past sales. Wemay make these payments for marketing, promotionalor related expenses, including, but not limited to,expenses of entertaining retail customers and financialadvisors, advert ising, sponsorship of events orseminars, obtaining shelf space in broker-dealer firmsand similar activities designed to promote the sale ofthe Portfolio and our other products. Fees may includepayment for travel expenses, including lodging, incurredin connection with trips taken by invited registeredrepresentatives for meetings or seminars of a businessnature. These arrangements will not change the priceyou pay for your Units.

Sponsor Compensation. The Sponsor will receivethe total sales charge applicable to each transaction.Except as provided under “Unit Distribution” above, anysales charge discount provided to investors will beborne by the selling broker-dealer or agent. In addition,the Sponsor will realize a profit or loss as a result of thedifference between the price paid for the Securities bythe Sponsor and the cost of the Securities to thePortfolio on the Initial Date of Deposit as well as onsubsequent deposits. See “Notes to Portfolio”. TheSponsor has not participated as sole underwriter or asmanager or as a member of the underwriting syndicatesor as an agent in a private placement for any of theSecurities. The Sponsor may realize profit or loss as aresult of the possible fluctuations in the market value ofUnits held by the Sponsor for sale to the public. Inmaintaining a secondary market, the Sponsor will

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realize profits or losses in the amount of any differencebetween the price at which Units are purchased and theprice at which Units are resold (which price includes theapplicable sales charge) or from a redemption ofrepurchased Units at a price above or below thepurchase price. Cash, if any, made available to theSponsor prior to the date of settlement for the purchaseof Units may be used in the Sponsor’s business andmay be deemed to be a benefit to the Sponsor, subjectto the limitations of the Securities Exchange Act of1934, as amended (“1934 Act”).

The Sponsor or an affiliate may have participated in apublic offering of one or more of the Securities. TheSponsor, an affiliate or their employees may have a longor short position in these Securities or related securities.An affiliate may act as a specialist or market maker forthese Securities. An officer, director or employee of theSponsor or an affiliate may be an officer or director forissuers of the Securities.

Market for Units. Although it is not obligated to doso, the Sponsor may maintain a market for Units and topurchase Units at the secondary market repurchaseprice (which is described under “Right of Unitholders--Redemption of Units”). The Sponsor may discontinuepurchases of Units or discontinue purchases at thisprice at any time. In the event that a secondary marketis not maintained, a Unitholder will be able to dispose ofUnits by tendering them to the Trustee for redemptionat the Redemption Price. See “Rights of Unitholders--Redemption of Units”. Unitholders should contact theirbroker to determine the best price for Units in thesecondary market. Units sold prior to the time the entiredeferred sales charge has been collected will beassessed the amount of any remaining deferred salescharge at the time of sale. The Trustee will notify theSponsor of any Units tendered for redemption. If theSponsor’s bid in the secondary market equals orexceeds the Redemption Price per Unit, i t maypurchase the Units not later than the day on whichUnits would have been redeemed by the Trustee. TheSponsor may sell repurchased Units at the secondarymarket Public Offering Price per Unit.

RETIREMENT ACCOUNTS

Units are available for purchase in connection withcertain types of tax-sheltered retirement plans, includingIndividual Retirement Accounts for individuals,Simplified Employee Pension Plans for employees,qualified plans for self-employed individuals, andqualified corporate pension and profit sharing plans foremployees. The minimum purchase for these accountsis reduced to 25 Units but may vary by selling firm. Thepurchase of Units may be l imited by the plans’provisions and does not itself establish such plans.

FEE ACCOUNTS

As described above, Units may be available forpurchase by investors in Fee Accounts where aPortfolio is Fee Based Eligible. You should consult yourfinancial professional to determine whether you canbenefit from these accounts. This table illustrates thesales charge you will pay if a Portfolio is Fee BasedEligible as a percentage of the initial Public OfferingPrice per Unit on the Initial Date of Deposit (thepercentage will vary thereafter).

Initial sales charge 0.00%Deferred sales charge 0.00 ______ Transactional sales charge 0.00% ______ ______Creation and development fee 0.50% ______ Total sales charge 0.50% ______ ______

You should consult the “Public Offering--ReducingYour Sales Charge” section for specific information onthis and other sales charge discounts. That sectiongoverns the calculation of all sales charge discounts.The Sponsor reserves the r ight to l imit or denypurchases of Units in Fee Accounts by investors orsel l ing f irms whose frequent trading activity isdetermined to be detrimental to a Portfolio. To purchaseUnits in these Fee Accounts, your financial professionalmust purchase Units designated with one of the FeeBased CUSIP numbers set forth under “EssentialInformation,” either Fee Based Cash for cashdistributions or Fee Based Reinvest for the reinvestment

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of distributions in additional Units, if available. See“Rights of Unitholders--Reinvestment Option.”

RIGHTS OF UNITHOLDERS

Distributions. With respect to your Portfolio,dividends and interest, net of expenses, and any netproceeds from the sale of Securities received by yourPortfolio will generally be distributed to Unitholders oneach Distribution Date to Unitholders of record on thepreceding Record Date. These dates appear under“Essential Information”. Distributions made by thesecurities in your Portfolio include ordinary income, butmay also include sources other than ordinary incomesuch as returns of capital, loan proceeds, short-termcapital gains and long-term capital gains (see “Taxation--Distributions”). In addition, the Portfolio will generallymake required distributions at the end of each yearbecause each is structured as a “regulated investmentcompany” for federal tax purposes. Unitholders will alsoreceive a final distribution of income when their Portfolioterminates. A person becomes a Unitholder of recordon the date of settlement (generally two business daysafter Units are ordered, or any shorter period as may berequired by the applicable rules under the 1934 Act).Unitholders may elect to receive distributions in cash orto have distributions reinvested into additional Units.See “Rights of Unitholders--Reinvestment Option”.

Dividends and interest received by a Portfolio arecredited to the Income Account of the Portfolio. Otherreceipts (e.g., capital gains, proceeds from the sale ofSecurities, etc.) are credited to the Capital Account.Proceeds received on the sale of any Securities, to theextent not used to meet redemptions of Units or paydeferred sales charges, fees or expenses, will bedistributed to Unitholders. Proceeds received from thedisposition of any Securities after a Record Date andprior to the following Distribution Date will be held in theCapital Account and not distributed until the nextDistribution Date. Any distribution to Unitholdersconsists of each Unitholder’s pro rata share of theavailable cash in the Income and Capital Accounts as ofthe related Record Date.

Historical and Estimated Distributions. Thehistorical annual income per Unit, and estimated initial

distribution per Unit (if any), may be shown under“Essential Information.” These figures are based ondistribution data from the 12 month period precedingthe Initial Date of Deposit. Generally, these figures arebased upon several recently declared dividends ordistributions within the preceding 12 month period, aswell as interim and final dividends or distributions offoreign issuers (accounting for any foreign withholdingtaxes or additional declared distributions). With respectto domestic common stock issuers, these figures aretypically based upon the most recent ordinary quarterlydividend, which is annualized. However, commonstocks do not assure dividend payments and thereforethe amount of future dividend income to your Portfoliois uncertain. The actual net annual distributions maydecrease over time because a portion of the Securitiesincluded in your Portfolio will be sold to pay for theorganization costs, deferred sales charge and creationand development fee. Securities may also be sold topay regular fees and expenses during your Portfolio’slife. Dividend and income conventions for certaincompanies and/or certain countries differ from thosetypically used in the United States and in certaininstances, dividends/income paid or declared overseveral years or other periods may be used to calculatehistorical annual distributions. The actual net annualincome distributions you receive will vary from thehistorical annual distribution amount due to changes individends and distribution amounts paid by the issuers;currency fluctuations; the sale of Securities to pay anydeferred sales charge; Portfolio fees and expenses; andwith changes in your Portfolio such as the acquisition,call, maturity or sale of Securities. Due to these andvarious other factors, actual income received by yourPortfolio will most likely differ from the most recentdividends or scheduled income payments.

Reinvestment Option. Unitholders may havedistributions automatically reinvested in additional Unitswithout a sales charge (to the extent Units may belawfully offered for sale in the state in which theUnitholder resides). The CUSIP numbers for either“Cash” distributions or “Reinvest” for the reinvestmentof distr ibut ions are set forth under “Essent ia lInformation”. Brokers and dealers can use the Dividend

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Reinvestment Service through Depository TrustCompany (“DTC”) or purchase a Reinvest (or FeeBased Reinvest in the case of Fee Based Eligible Unitsheld in Fee Accounts) CUSIP, if available. To participatein this reinvestment option, a Unitholder must file withthe Trustee a written notice of election, together withany other documentation that the Trustee may thenrequire, at least five days prior to the related RecordDate. A Unitholder’s election will apply to all Unitsowned by the Unitholder and will remain in effect untilchanged by the Unitholder. The reinvestment option isnot offered during the 30 calendar days prior totermination. If Units are unavailable for reinvestment orthis reinvestment option is no longer avai lable,distributions will be paid in cash. Distributions will betaxable to Unitholders if paid in cash or automaticallyreinvested in additional Units. See “Taxation”.

A participant may elect to terminate his or herreinvestment plan and receive future distributions incash by notifying the Trustee in writing no later than fivedays before a Distribution Date. The Sponsor shallhave the r ight to suspend or terminate thereinvestment plan at any time. The reinvestment plan issubject to availability or limitation by each broker-dealeror sel l ing f i rm. Broker-dealers may suspend orterminate the offering of a reinvestment plan at anytime. Please contact your financial professional foradditional information.

Redemption of Units. All or a portion of your Unitsmay be tendered to The Bank of New York Mellon, theTrustee, for redemption at Unit Investment TrustDivision, 111 Sanders Creek Parkway, East Syracuse,New York 13057, on any day the New York StockExchange is open. No redemption fee will be chargedby the Sponsor or the Trustee, but you are responsiblefor applicable governmental charges, if any. Unitsredeemed by the Trustee will be canceled. You mayredeem all or a portion of your Units by sending arequest for redemption to your bank or broker-dealerthrough which you hold your Units. No later than twobusiness days (or any shorter period as may berequired by the applicable rules under the 1934 Act)following satisfactory tender, the Unitholder will beentitled to receive in cash an amount for each Unit

equal to the Redemption Price per Unit next computedon the date of tender. The “date of tender” is deemed tobe the date on which Units are received by the Trustee,except that with respect to Units received by theTrustee after the Evaluation Time or on a day which isnot a business day, the date of tender is deemed to bethe next business day. Redemption requests receivedby the Trustee after the Evaluation T ime, andredemption requests received by authorized financialprofessionals after the Evaluation Time or redemptionrequests received by such persons that are nottransmitted to the Trustee until after the time designatedby the Trustee, are priced based on the date of the nextdetermined redemption price provided they are receivedtimely by the Trustee on such date. It is theresponsibility of authorized financial professionals totransmit redemption requests received by them to theTrustee so they will be received in a timely manner.Certain broker-dealers or selling firms may charge anorder handling fee for processing redemption requests.Units redeemed directly through the Trustee are notsubject to such fees.

Unitholders tendering 1,000 or more Units of yourPortfolio (or such higher amount as may be required byyour broker-dealer or selling agent) for redemption mayrequest an in kind distribution of Securities equal to theRedemption Price per Unit on the date of tender.Unitholders may not request an in kind distributionduring the initial offering period or within 30 calendardays of a Portfolio’s termination. The Portfolio generallywill not offer in kind distributions of portfolio securitiesthat are held in foreign markets. An in kind distributionwill be made by the Trustee through the distribution ofeach of the Securities in book-entry form to the accountof the Unitholder’s broker-dealer at DTC. Amountsrepresenting fractional shares will be distributed in cash.The Trustee may adjust the number of shares of anySecurity included in a Unitholder’s in kind distribution tofacilitate the distribution of whole shares. The in kinddistribution option may be modified or discontinued atany time without notice. Notwithstanding the foregoing,if the Unitholder requesting an in kind distribution is theSponsor or an affiliated person of the Portfolio, theTrustee may make an in kind distribution to such

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Unitholder provided that no one with a pecuniaryincentive to influence the in kind distribution mayinfluence selection of the distributed securities, thedistribution must consist of a pro rata distribution of allportfolio securities (with limited exceptions) and the inkind distribution may not favor such affiliated person tothe detriment of any other Unitholder. Unitholders willincur transaction costs in liquidating securities receivedin an in-kind distribution, and any such securitiesreceived will be subject to market risk until sold. In theevent that any securities received in-kind are illiquid,Unitholders will bear the risk of not being able to sellsuch securities in the near term, or at all.

The Trustee may sell Securities to satisfy Unitredemptions. To the extent that Securit ies areredeemed in kind or sold, the size of a Portfolio will be,and the diversity of a Portfolio may be, reduced. Salesmay be required at a time when Securities would nototherwise be sold and may result in lower prices thanmight otherwise be realized. The price received uponredemption may be more or less than the amount paidby the Unitholder depending on the value of theSecurities at the time of redemption. Special federalincome tax consequences will result if a Unitholderrequests an in kind distribution. See “Taxation”.

The Redemption Price per Unit and the secondarymarket repurchase price per Unit are equal to the prorata share of each Unit in the Portfolio determined onthe basis of (i) the cash on hand in the Portfolio, (ii) thevalue of the Securities in the Portfolio and (iii) dividendsor other income distr ibutions receivable on theSecurities in the Portfolio trading ex-dividend as of thedate of computation, less (a) amounts representingtaxes or other governmental charges payable out of thePortfolio, (b) the accrued expenses of the Portfolio(including costs associated with liquidating securitiesafter the end of the initial offering period) and (c) anyunpaid deferred sales charge payments. During theinitial offering period, the redemption price and thesecondary market repurchase price are not reduced bythe estimated organization costs or the creation anddevelopment fee. For these purposes, the Trustee willdetermine the value of the Securities as describedunder “Public Offering--Unit Price”.

The right of redemption may be suspended andpayment postponed for any period during which theNew York Stock Exchange is closed, other than forcustomary weekend and holiday closings, or any periodduring which the SEC determines that trading on thatExchange is restricted or an emergency exists, as aresult of which disposal or evaluation of the Securities isnot reasonably practicable, or for other periods as theSEC may permit.

Exchange Option. When you redeem Units of yourPortfol io or when your Portfol io terminates (see“Rollover” below), you may be able to exchange yourUnits for units of other Invesco unit trusts. You shouldcontact your financial professional for more informationabout trusts currently available for exchanges. Beforeyou exchange Units, you should read the prospectus ofthe new trust carefully and understand the risks andfees. You should then discuss this option with yourfinancial professional to determine whether yourinvestment goals have changed, whether current trustssuit you and to discuss tax consequences. A rollover orexchange is a taxable event to you. We maydiscontinue this option at any time.

Rollover. We may offer a subsequent series of thePortfolio for a Rollover when the Portfolio terminates.

On the Mandatory Termination Date you will have theoption to (1) participate in a Rollover and have yourUnits reinvested into a subsequent trust series or(2) receive a cash distribution.

If you elect to participate in a cash Rollover, yourUnits will be redeemed on the Mandatory TerminationDate. As the redemption proceeds become available,the proceeds (including dividends) will be invested in anew trust series at the public offering price for the newtrust. The Trustee will attempt to sell Securities to satisfythe redemption as quickly as practicable on theMandatory Termination Date. We do not anticipate thatthe sale period will be longer than one day, however,certain factors could affect the ability to sell theSecurities and could impact the length of the saleperiod. The liquidity of any Security depends on thedaily trading volume of the Security and the amountavailable for redemption and reinvestment on any day.

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We may make subsequent trust series available forsale at various times during the year. Of course, wecannot guarantee that a subsequent trust or sufficientunits will be available or that any subsequent trusts willoffer the same investment strategies or objectives asthe current Portfolio. We cannot guarantee that aRol lover wi l l avoid any negative market priceconsequences resulting from trading large volumes ofsecurit ies. Market price trends may make itadvantageous to sell or buy securities more quickly ormore slowly than permitted by the Portfolio procedures.We may, in our sole discretion, modify a Rollover orstop creating units of a trust at any time regardless ofwhether al l proceeds of Unitholders have beenreinvested in a Rollover. If we decide not to offer asubsequent series, Unitholders will be notified prior tothe Mandatory Termination Date. Cash which has notbeen reinvested in a Rollover will be distributed toUnitholders shortly after the Mandatory TerminationDate. Rollover part icipants may receive taxabledividends or realize taxable capital gains which arereinvested in connection with a Rollover but may not beentitled to a deduction for capital losses due to the“wash sale” tax rules. Due to the reinvestment in asubsequent trust, no cash will be distributed to pay anytaxes. See “Taxation”.

Units. Ownership of Units is evidenced inbook-entry form only and will not be evidenced bycertificates. Units purchased or held through your bankor broker-dealer will be recorded in book-entry formand credited to the account of your bank orbroker-dealer at DTC. Units are transferable bycontacting your bank or broker-dealer through whichyou hold your Units. Transfer, and the requirementstherefore, wi l l be governed by the appl icableprocedures of DTC and your agreement with the DTCparticipant in whose name your Units are registered onthe transfer records of DTC.

Reports Provided. Unitholders will receive astatement of dividends and other amounts received bya Portfolio for each distribution. Within a reasonabletime after the end of each year, each person who was aUnitholder during that year will receive a statementdescribing dividends and capital received, actual

Portfolio distributions, Portfolio expenses, a list of theSecurities and other Portfolio information. Unitholdersmay obtain evaluations of the Securities upon requestto the Trustee. If you have questions regarding youraccount or your Portfolio, please contact your financialadvisor or the Trustee. The Sponsor does not haveaccess to individual account information.

PORTFOLIO ADMINISTRATION

Portfolio Administration. The Portfolio is not amanaged fund and, except as provided in the TrustAgreement, Securities generally will not be sold orreplaced. The Sponsor may, however, direct thatSecurities be sold in certain limited circumstances toprotect a Portfolio based on advice from the Supervisor.These situations may include events such as the issuerhaving defaulted on payment of any of its outstandingobligations or the price of a Security has declined tosuch an extent or other credit factors exist so that in theopinion of the Supervisor retention of the Security wouldbe detrimental to a Portfolio. If a public tender offer hasbeen made for a Security or a merger or acquisition hasbeen announced affecting a Security, the Trustee mayeither sel l the Security or accept an offer i f theSupervisor determines that the sale or exchange is inthe best interest of Unitholders. The Trustee willdistribute any cash proceeds to Unitholders. In addition,the Trustee may sell Securities to redeem Units or payPortfol io expenses or deferred sales charges. Ifsecurities or property are acquired by a Portfolio, theSponsor may direct the Trustee to sell the securities orproperty and distribute the proceeds to Unitholders orto accept the securities or property for deposit in thePortfolio. Should any contract for the purchase of any ofthe Securities fail, the Sponsor will (unless substantiallyall of the moneys held in the Portfolio to cover thepurchase are reinvested in substitute Securities inaccordance with the Trust Agreement) refund the cashand sales charge attributable to the failed contract to allUnitholders on or before the next Distribution Date.

The Sponsor may direct the reinvestment ofproceeds of the sale of Securities if the sale is thedirect result of serious adverse credit factors which, inthe opinion of the Sponsor, would make retention of

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the Securities detrimental to your Portfolio. In such acase, the Sponsor may, but is not obligated to, directthe reinvestment of sale proceeds in any othersecurities that meet the criteria for inclusion in yourPortfolio on the Initial Date of Deposit. The Sponsormay also instruct the Trustee to take action necessaryto ensure that the Portfolio continues to satisfy thequalifications of a regulated investment company andto avoid imposition of tax on undistributed income ofthe Portfolio.

When your Portfolio sells Securities, the compositionand diversity of the Securities in the Portfolio may bealtered. In order to obtain the best price for a Portfolio, itmay be necessary for the Supervisor to specifyminimum amounts (generally 100 shares) in whichblocks of Securit ies are to be sold. In effectingpurchases and sales of Portfolio securities, the Sponsormay direct that orders be placed with and brokeragecommissions be paid to brokers, including brokerswhich may be affiliated with the Portfolio, the Sponsoror dealers participating in the offering of Units.

Pursuant to an exemptive order, your Portfolio maybe permitted to sell Securities to a new trust when itterminates if those Securities are included in the newtrust. The exemption may enable your Portfolio toeliminate commission costs on these transactions. Theprice for those securities will be the closing sale priceon the sale date on the exchange where the Securitiesare principally traded, as certified by the Sponsor.

Amendment of the Trust Agreement. TheTrustee and the Sponsor may amend the TrustAgreement without the consent of Unitholders tocorrect any provision which may be defective or tomake other provisions that will not materially adverselyaffect Unitholders (as determined in good faith by theSponsor and the Trustee). The Trust Agreement maynot be amended to increase the number of Units orpermit acquisit ion of securit ies in addition to orsubstitution for the Securities (except as provided in theTrust Agreement). The Trustee will notify Unitholders ofany amendment.

Termination. The Portfolio will terminate on theMandatory Termination Date specified under “Essential

Information” or upon the sale or other disposition of thelast Security held in the Portfolio. A Portfolio may beterminated at any time with consent of Unitholdersrepresenting two-thirds of the outstanding Units or bythe Trustee when the value of the Portfolio is less than$500,000 ($3,000,000 if the value of the Portfolio hasexceeded $15,000,000) (the “Minimum TerminationValue”). A Portfolio will be liquidated by the Trustee inthe event that a sufficient number of Units of thePortfolio not yet sold are tendered for redemption bythe Sponsor, so that the net worth of the Portfoliowould be reduced to less than 40% of the value of theSecurities at the time they were deposited in thePortfolio. If a Portfolio is liquidated because of theredemption of unsold Units by the Sponsor, theSponsor will refund to each purchaser of Units theentire sales charge paid by such purchaser. The Trusteemay begin to sell Securities in connection with aPortfolio termination nine business days before, and nolater than, the Mandatory Termination Date. QualifiedUnitholders may elect an in kind distr ibution ofSecurities, provided that Unitholders may not requestan in kind distribution of Securities within 30 calendardays of a Portfolio’s termination. Any in kind distributionof Securities will be made in the manner and subject tothe restrictions described under “Rights of Unitholders--Redemption of Units”, provided that, in connection withan in kind distribution election more than 30 calendardays prior to termination, Unitholders tendering 1,000or more Units of a Portfolio (or such higher amount asmay be required by your broker-dealer or selling agent)may request an in kind distribution of Securities equal tothe Redemption Price per Unit on the date of tender.Unitholders will receive a final cash distribution within areasonable time after the Mandatory Termination Date.All distributions will be net of a Portfolio’s expenses andcosts. Unitholders will receive a final distributionstatement following termination. The InformationSupplement contains further information regardingtermination of a Portfolio. See “Additional Information”.

Limitations on Liabilities. The Sponsor,Supervisor and Trustee are under no liability for takingany action or for refraining from taking any action ingood faith pursuant to the Trust Agreement, or for

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errors in judgment, but shall be liable only for their ownwillful misfeasance, bad faith or gross negligence(negl igence in the case of the Trustee) in theperformance of their duties or by reason of theirreckless disregard of their obligations and dutieshereunder. The Trustee is not liable for depreciation orloss incurred by reason of the sale by the Trustee of anyof the Securities. In the event of the failure of theSponsor to act under the Trust Agreement, the Trusteemay act thereunder and is not liable for any action takenby it in good faith under the Trust Agreement. TheTrustee is not liable for any taxes or other governmentalcharges imposed on the Securities, on it as Trusteeunder the Trust Agreement or on a Portfolio which theTrustee may be required to pay under any present orfuture law of the United States of America or of anyother taxing authority having jurisdiction. In addition, theTrust Agreement contains other customary provisionslimiting the liability of the Trustee. The Sponsor andSupervisor may rely on any evaluation furnished by theTrustee and have no responsibility for the accuracythereof. Determinations by the Trustee shall be made ingood faith upon the basis of the best informationavailable to it.

Sponsor. Invesco Capital Markets, Inc. is the Sponsorof your Portfolio. The Sponsor is a wholly ownedsubsidiary of Invesco Advisers, Inc. (“Invesco Advisers”).Invesco Advisers is an indirect wholly owned subsidiaryof Invesco Ltd., a leading independent global investmentmanager that provides a wide range of investmentstrategies and vehicles to its retail, institutional and highnet worth clients around the globe. The Sponsor’sprincipal office is located at 11 Greenway Plaza, Houston,Texas 77046-1173. As of September 30, 2019, the totalstockholders’ equity of Invesco Capital Markets, Inc. was$94,146,402.00 (unaudited). The current assets undermanagement and supervision by Invesco Ltd. and itsaffiliates were valued at approximately $1,184.4 billion asof September 30, 2019.

The Sponsor and your Portfolio have adopted a codeof ethics requiring Invesco Ltd.’s employees who haveaccess to information on Portfolio transactions to reportpersonal securities transactions. The purpose of thecode is to avoid potential conflicts of interest and to

prevent fraud, deception or misconduct with respect toyour Portfolio. The Information Supplement containsadditional information about the Sponsor.

If the Sponsor shall fail to perform any of its dutiesunder the Trust Agreement or become incapable ofacting or shall become bankrupt or its affairs are takenover by public authorities, then the Trustee may(i ) appoint a successor Sponsor at rates ofcompensation deemed by the Trustee to be reasonableand not exceeding amounts prescribed by the SEC,(ii) terminate the Trust Agreement and liquidate thePortfolio as provided therein or (iii) continue to act asTrustee without terminating the Trust Agreement.

Trustee. The Trustee is The Bank of New YorkMellon, a trust company organized under the laws ofNew York. The Bank of New York Mellon has itsprincipal unit investment trust division offices at2 Hanson Place, 12th Floor, Brooklyn, New York 11217,(800) 856-8487. If you have questions regarding youraccount or your Portfolio, please contact the Trustee atits principal unit investment trust division offices or yourfinancial adviser. The Sponsor does not have access toindividual account information. The Bank of New YorkMellon is subject to supervision and examination by theSuperintendent of Banks of the State of New York andthe Board of Governors of the Federal Reserve System,and its deposits are insured by the Federal DepositInsurance Corporation to the extent permitted by law.Additional information regarding the Trustee is set forthin the Information Supplement, including the Trustee’squalifications and duties, its ability to resign, the effectof a merger involving the Trustee and the Sponsor’sabi l i ty to remove and replace the Trustee. See“Additional Information”.

TAXATION

This section summarizes some of the principal U.S.federal income tax consequences of owning Units ofthe Portfolio. Tax laws and interpretations are subject tochange, possibly with retroactive effect. This summarydoes not describe all of the tax consequences to alltaxpayers. For example, this summary generally doesnot describe your situation if you are a corporation, anon-U.S. person, a broker/dealer, a tax-exempt entity,

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financial institution, person who marks to market theirUnits or other investor with special circumstances. Inaddition, this section does not describe your alternativeminimum, state, local or foreign tax consequences ofinvesting in the Portfolio.

This federal income tax summary is based in part onthe advice of counsel to the Sponsor. The InternalRevenue Service could disagree with any conclusionsset forth in this section. In addition, our counsel was notasked to review the federal income tax treatment of theassets to be deposited in your Portfolio.

Additional information related to taxes is contained inthe Information Supplement. As with any investment,you should seek advice based on your individualcircumstances from your own tax advisor.

Portfolio Status. Your Portfolio intends to electand to qualify annually as a "regulated investmentcompany" ("RIC") under the federal tax laws. If yourPortfolio qualifies under the tax law as a RIC anddistributes its income in the manner and amountsrequired by the RIC tax requirements, the Portfoliogenerally will not pay federal income taxes. But there isno assurance that the distributions made by yourPortfolio will eliminate all taxes for every year at the levelof your Portfolio.

Distributions. Portfolio distributions are generallytaxable. After the end of each year, you will receive a taxstatement reporting your Portfolio's distributions,including the amounts of ordinary income distributionsand capital gains dividends. Your Portfolio may maketaxable distributions to you even in periods duringwhich the value of your Units has declined. Ordinaryincome distributions are generally taxed at your federaltax rate for ordinary income, however, as furtherdiscussed below, certain ordinary income distributionsreceived from your Portfolio may be taxed, undercurrent federal law, at capital gains tax rates. Certainordinary income dividends on Units that are attributableto qualifying dividends received by your Portfolio fromcertain corporations may be reported by the Portfolio asbeing eligible for the dividends received deduction forcorporate Unitholders provided certain holding periodrequirements are met. Income from the Portfolio and

gains on the sale of your Units may also be subject to a3.8% federal tax imposed on net investment income ifyour adjusted gross income exceeds certain thresholdamounts, which currently are $250,000 in the case ofmarried couples filing joint returns and $200,000 in thecase of single individuals. In addition, your Portfolio maymake distributions that represent a return of capital fortax purposes to the extent of the Unitholder's basis inthe Units, and any additional amounts in excess ofbasis would be taxed as a capital gain. Generally, youwill treat all capital gains dividends as long-term capitalgains regardless of how long you have owned yourUnits. The tax status of your distributions from yourPortfolio is not affected by whether you reinvest yourdistributions in additional Units or receive them in cash.The income from your Portfolio that you must take intoaccount for federal income tax purposes is not reducedby amounts used to pay a deferred sales charge, if any.The tax laws may require you to treat certaindistributions made to you in January as if you hadreceived them on December 31 of the previous year.

A distribution paid by your Portfolio reduces thePortfolio's net asset value per Unit on the date paid bythe amount of the distr ibut ion. Accordingly, adistribution paid shortly after a purchase of Units by aUnitholder would represent, in substance, a partialreturn of capital, however, it would be subject toincome taxes.

Sale or Redemption of Units. If you sell orredeem your Units, you will generally recognize ataxable gain or loss. To determine the amount of thisgain or loss, you must subtract your adjusted tax basisin your Units from the amount you receive for the sale ofthe Units. Your initial tax basis in your Units is generallyequal to the cost of your Units, generally including salescharges. In some cases, however, you may have toadjust your tax basis after you purchase your Units.

Capital Gains and Losses and CertainOrdinary Income Dividends. Net capital gain equalsnet long-term capital gain minus net short-term capitalloss for the taxable year. Capital gain or loss is long-term if the holding period for the asset is more than oneyear and is short-term if the holding period for the assetis one year or less. You must exclude the date you

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purchase your Units to determine your holding period.However, if you receive a capital gain dividend from yourPortfolio and sell your Units at a loss after holding it forsix months or less, the loss will be recharacterized aslong-term capital loss to the extent of the capital gaindividend received. The tax rates for capital gainsrealized from assets held for one year or less aregenerally the same as for ordinary income.

In certain circumstances, ordinary income dividendsreceived by an individual Unitholder from a RIC such asyour Portfolio may be taxed at the same federal rates thatapply to net capital gain (as discussed above), providedcertain holding period requirements are satisfied andprovided the dividends are attributable to qualifieddividend income received by the Portfolio itself. Qualifieddividend income means dividends paid to the Portfolio (a)by domestic corporations, (b) by foreign corporations thatare either (i) incorporated in a possession of the UnitedStates or (ii) are eligible for benefits under certain incometax treaties with the United States that include anexchange of information program, or (c) with respect tostock of a foreign corporation that is readily tradeable onan established securities market in the United States.Both the Portfolio and the Unitholder must meet certainholding period requirements to qualify Portfolio dividendsfor this treatment. Income derived from investments inderivatives, fixed-income securities, U.S. real estateinvestment trusts, passive foreign investment companies,and income received "in lieu of" dividends in a securitieslending transactions generally is not eligible for treatmentas qualified dividend income. If the qualified dividendincome received by the Portfolio is equal to 95% (or agreater percentage) of the Portfolio's gross income(exclusive of net capital gain) in any taxable year, all of theordinary income dividends paid by the Portfolio will bequalified dividend income. Your Portfolio will providenotice to its Unitholders of the amount of any distributionwhich may be taken into account as qualified dividendincome which is eligible for capital gains tax rates. Thereis no requirement that tax consequences be taken intoaccount in administering your Portfolio.

In Kind Distributions. Under certain circumstances,as described in this prospectus, you may receive an inkind distribution of Portfolio securities when you redeem

your Units. In general, this distribution will be treated as asale for federal income tax purposes and you willrecognize gain or loss, based on the value at that time ofthe securities and the amount of cash received, andsubject to certain limitations on the deductibility of lossesunder the tax law.

Rollovers and Exchanges. If you elect to haveyour proceeds from your Portfolio rolled over into afuture trust, it would generally be considered a sale forfederal income tax purposes and any gain on the salewill be treated as a capital gain, and, in general, anyloss will be treated as a capital loss. However, any lossrealized on a sale or exchange will be disallowed to theextent that Units disposed of are replaced (includingthrough reinvestment of dividends) within a period of 61days beginning 30 days before and ending 30 daysafter disposition of Units or to the extent that theUnitholder, during such period, acquires or enters intoan option or contract to acquire, substantially identicalstock or securities. In such a case, the basis of theUnits acquired will be adjusted to reflect the disallowedloss. The deductibility of capital losses is subject toother limitations in the tax law.

Deductibility of Portfolio Expenses. Expensesincurred and deducted by your Portfolio will generallynot be treated as taxable income to you. In certaincases if your Portfolio is not considered "publiclyoffered" under the Code, each U.S. Unitholder that iseither an individual, trust or estate will be treated ashaving received a taxable distribution from the Portfolioin the amount of that U.S. Unitholder's allocable shareof certain of the Portfolio's expenses for the calendaryear, and these fees and expenses will be treated asmiscellaneous itemized deductions of those U.S.Unitholders. The deductibility of expenses that arecharacterized as miscellaneous itemized deductions,which include investment expenses, is suspended fortax years beginning prior to January 1, 2026.

Foreign Investors. If you are a foreign investor(i.e., an investor other than a U.S. citizen or resident ora U.S. corporation, partnership, estate or trust),generally, subject to applicable tax treaties, distributionsto you from your Portfolio will be characterized asdividends for federal income tax purposes (other than

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dividends that your Portfolio reports as capital gaindividends) and will be subject to U.S. income taxes,including withholding taxes, subject to certainexceptions described below. You may be eligible undercertain income tax treaties for a reduction in withholdingrates. However, distributions received by a foreigninvestor from your Portfolio that are properly reported bythe trust as capital gain dividends, interest-relateddividends paid by the Portfolio from its qualified netinterest income from U.S. sources and short-termcapital gain dividends, may not be subject to U.S.federal income taxes, including withholding taxes,provided that your Portfolio makes certain elections andcertain other conditions are met.

The Foreign Account Tax Compliance Act("FATCA"). A 30% withholding tax on your Portfolio'sdistributions generally applies if paid to a foreign entityunless: (i) if the foreign entity is a "foreign financialinstitution" as defined under FATCA, the foreign entityundertakes certain due diligence, reporting, withholding,and certification obligations, (ii) if the foreign entity is not a"foreign financial institution," it identifies certain of its U.S.investors or (iii) the foreign entity is otherwise exceptedunder FATCA. If required under the rules above andsubject to the applicability of any intergovernmentalagreements between the United States and the relevantforeign country, withholding under FATCA may apply.Under existing regulations, FATCA withholding on grossproceeds from the sale of Units and capital gaindistributions from your Portfolio took effect on January 1,2019; however, recently proposed U.S. tax regulationseliminate FATCA withholding on such types of payments.Taxpayers generally may rely on these proposed TreasuryRegulations until final Treasury Regulations are issued. Ifwithholding is required under FATCA on a paymentrelated to your Units, investors that otherwise would notbe subject to withholding (or that otherwise would beentitled to a reduced rate of withholding) on suchpayment generally will be required to seek a refund orcredit from the IRS to obtain the benefit of suchexemption or reduction. Your Portfolio will not pay anyadditional amounts in respect of amounts withheld underFATCA. You should consult your tax advisor regarding theeffect of FATCA based on your individual circumstances.

Foreign Tax Credit. If your Portfolio invests in anyforeign securities, the tax statement that you receivemay include an item showing foreign taxes yourPortfolio paid to other countries. In this case, dividendstaxed to you will include your share of the taxes yourPortfolio paid to other countries. If more than 50% ofthe value of the Portfolio's total assets at the end of afiscal year is invested in foreign securities, the Portfoliomay elect to "pass-through" to the Unitholders theamount of foreign income tax paid by the Portfolio inlieu of deducting such amount in determining itsinvestment company taxable income. In such a case,Unitholders will be required (i) to include in grossincome, even though not actually received, theirrespective pro rata shares of the foreign income taxpaid by the Portfolio that are attributable to anydistributions they receive; and (ii) either to deduct theirpro rata share of foreign tax in computing their taxableincome or to use it (subject to various limitations) as aforeign tax credit against federal income tax (but notboth). No deduction for foreign tax may be claimed by anon-corporate Unitholder who does not itemizedeductions or who is subject to the alternative minimumtax. Unitholders may be unable to claim a credit for thefull amount of their proportionate shares of the foreignincome tax paid by the Portfol io due to certainlimitations that may apply. The Portfolio reserves theright not to pass-through to its Unitholders the amountof foreign income taxes paid by the Portfolio.

Backup Withholding. By law, your Portfolio mustwithhold as backup withholding a percentage (currently24%) of your taxable distributions and redemptionproceeds if you do not provide your correct socialsecurity or taxpayer identification number and certifythat you are not subject to backup withholding, or if theIRS instructs your Portfolio to do so.

Investors should consult their advisors concerningthe federal, state, local and foreign tax consequences ofinvesting in the Portfolio.

PORTFOLIO OPERATING EXPENSES

General. The fees and expenses of your Portfoliowill generally accrue on a daily basis. Portfolio operatingfees and expenses are generally paid out of the Income

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Account to the extent funds are available, and then fromthe Capital Account. The deferred sales charge,creation and development fee and organization costsare generally paid out of the Capital Account of yourPortfolio. It is expected that Securities will be sold topay these amounts which will result in capital gains orlosses to Unitholders. See “Taxation”. These sales willreduce future income distributions. The Sponsor’s,Supervisor’s and Trustee’s fees may be increasedwithout approval of the Unitholders by amounts notexceeding proportionate increases under the category“Services Less Rent of Shelter” in the Consumer PriceIndex for All Urban Consumers or, if this category is notpublished, in a comparable category.

Organization Costs. You and the otherUnitholders will bear all or a portion of the organizationcosts and charges incurred in connection with theestablishment of your Portfolio. These costs andcharges will include the cost of the preparation, printingand execution of the trust agreement, registrationstatement and other documents relating to yourPortfolio, federal and state registration fees and costs,the initial fees and expenses of the Trustee, and legaland auditing expenses. The Public Offering Price ofUnits includes the estimated amount of these costs.The Trustee will deduct these expenses from yourPortfolio’s assets at the end of the initial offering period.

Creation and Development Fee. The Sponsorwill receive a fee from your Portfolio for creating anddeveloping the Portfolio, including determining thePortfolio’s objectives, policies, composition and size,selecting service providers and information services andfor providing other similar administrative and ministerialfunctions. The creation and development fee is a chargeof $0.05 per Unit. The Trustee will deduct this amountfrom your Portfolio’s assets as of the close of the initialoffering period. No portion of this fee is applied to thepayment of distribution expenses or as compensationfor sales efforts. This fee will not be deducted fromproceeds received upon a repurchase, redemption orexchange of Units before the close of the initial publicoffering period.

Trustee’s Fee. For its services the Trustee willreceive the fee from your Portfolio set forth in the “Fee

Table” (which includes the estimated amount ofmiscellaneous Portfolio expenses). The Trustee benefitsto the extent there are funds in the Capital and IncomeAccounts since these Accounts are non-interest bearingto Unitholders and the amounts earned by the Trusteeare retained by the Trustee. Part of the Trustee’scompensation for its services to your Portfolio isexpected to result from the use of these funds.

Compensation of Sponsor and Supervisor.The Sponsor and the Supervisor, which is an affiliate ofthe Sponsor, will receive the annual fee for providingbookkeeping and administrative services and portfoliosupervisory services set forth in the “Fee Table”. Thesefees may exceed the actual costs of providing theseservices to your Portfolio but at no time will the totalamount received for these services rendered to allInvesco unit investment trusts in any calendar yearexceed the aggregate cost of providing these servicesin that year.

Miscellaneous Expenses. The following additionalcharges are or may be incurred by your Portfolio: (a)normal expenses (including the cost of mailing reportsto Unitholders) incurred in connection with the operationof the Portfolio, (b) fees of the Trustee for extraordinaryservices, (c) expenses of the Trustee (including legal andauditing expenses) and of counsel designated by theSponsor, (d) various governmental charges, (e)expenses and costs of any action taken by the Trusteeto protect the Portfolio and the rights and interests ofUnitholders, (f) indemnification of the Trustee for anyloss, liability or expenses incurred in the administrationof the Portfolio without negligence, bad faith or wilfulmisconduct on its part, (g) foreign custodial andtransaction fees (which may include compensation paidto the Trustee or its subsidiaries or affiliates), (h) costsassociated with liquidating the securities held in thePortfolio, (i) any offering costs incurred after the end ofthe initial offering period and (j) expenditures incurred incontacting Unitholders upon termination of the Portfolio.The Portfolio may pay the expenses of updating itsregistration statement each year.

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A-20

OTHER MATTERS

Legal Opinions. The legality of the Units offeredhereby has been passed upon by Morgan, Lewis &Bockius LLP. Dorsey & Whitney LLP has acted ascounsel to the Trustee.

Independent Registered Public AccountingFirm. The statement of condition and the relatedportfolio included in this prospectus have been auditedby Grant Thornton LLP, independent registered publicaccounting firm, as set forth in their report in thisprospectus, and are included herein in reliance upon theauthority of said f irm as experts in accountingand auditing.

ADDITIONAL INFORMATION

This prospectus does not contain all the informationset forth in the registration statements filed by yourPortfolio with the SEC under the Securities Act of1933 and the Investment Company Act of 1940 (fileno. 811-02754). The Information Supplement, whichhas been filed with the SEC and is incorporated hereinby reference, includes more detailed informationconcerning the Securit ies, investment risks andgeneral information about your Portfolio. Reports andother information about your Portfolio are available onthe EDGAR Database on the SEC’s Internet site athttp://www.sec.gov. Copies of this information may beobtained, after paying a duplication fee, by electronicrequest at the fo l lowing e-mai l address:[email protected] or by writing the SEC’s PublicReference Section, Washington, DC 20549-0102.

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TABLE OF CONTENTS

Title Page

ESG Opportunity Portfolio.................................. 2Notes to Portfolio............................................... 6Report of Independent Registered

Public Accounting Firm .................................. 7Statement of Condition ..................................... 8The Portfolio ...................................................... A-1Objectives and Securities Selection ................... A-2Risk Factors ...................................................... A-2Public Offering ................................................... A-5Retirement Accounts ......................................... A-9Fee Accounts .................................................... A-9Rights of Unitholders ......................................... A-10Portfolio Administration...................................... A-13Taxation ............................................................. A-15Portfolio Operating Expenses............................. A-18Other Matters .................................................... A-20Additional Information ........................................ A-20

______________When Units of the Portfolio are no longer available thisprospectus may be used as a preliminary prospectus for afuture Portfolio. If this prospectus is used for a future Portfolioyou should note the following:

The information in this prospectus is not complete with respectto future Portfolio series and may be changed. No person maysell Units of a future Portfolio until a registration statement isfiled with the Securities and Exchange Commission and iseffective. This prospectus is not an offer to sell Units and is notsoliciting an offer to buy Units in any state where the offer orsale is not permitted.

U-EMSPRO2020

PROSPECTUS

December 13, 2019

ESG Opportunity Portfolio 2020-1

Please retain this prospectus for future reference.

INVESCO