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Principal Investment Strategy

The trust invests in a diverse pool of income-producing securities issued by financial services companies, primarily consisting of publicly traded common shares of Business Development Companies (BDCs) and Real Estate Investment Trusts (REITs), as well as other financial services companies.

Finding Value in the BDC Market

Investment Objective

Portfolio Security Selection

About Prospect Capital Fund Management LLC

Prospect Income Finance Portfolio, Series 1 is designed by Prospect Capital Fund Management LLC, a wholly owned subsidiary of Prospect Capital Management LLC. Prospect Capital Management LLC is an established asset management firm and registered investment advisor with over 25 years of experience (along with its predecessors and affiliates).

There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged. You can lose money investing in this trust. This trust terminates approximately 2 years from the initial date of deposit.

Investing in the trust units may involve a high degree of risk and is highly speculative and aggressive, and therefore an investment in trust units may not be suitable for someone with low risk tolerance.

Common stocks do not assure dividend payments. Dividends are paid only when declared by an issuers board of directors and the amount of any dividend may vary over time.

A portfolio concentrated in a single market sector may present more risk than a portfolio broadly diversified over several sectors. This trust is concentrated in the financials sector particularly in business development companies (BDCs) and real estate investment trusts (REITs). There are certain risks specific to the financials sector, and in particular, to BDCs and REITs, including the potential adverse effects of economic recession, volatile interest rates, and state and federal regulations.

This trust invests in BDCs and will be subject to risks associated with BDCs. BDCs are closed-end funds that have elected to be treated as business development companies and their ability to grow their overall financial condition is impacted significantly by their ability to raise capital, engage in borrowing, acquire suitable investments, and maintain their status as a BDC. Failure to do so will adversely affect the value of a BDCs shares. BDCs generally employ leverage in their portfolios. While leverage often increases the yield of a portfolio, it may magnify the potential for gains and losses on amounts invested, and accordingly, may increase the volatility and/or risks associated with those shares. A BDCs investments are frequently not publicly traded, and as a result, there is uncertainty as to the value and liquidity of those investments. BDCs are subject to laws or regulations governing BDCs that could negatively affect the value of the BDC shares. Shares of BDCs frequently trade at a discount to their net asset value in the secondary market and the net asset value of a BDCs shares may decrease.

This trust invests in REITs and real estate companies. Many factors can have an impact on the performance of REITs and real estate companies, including cash available for distribution, the credit quality of a particular REIT, or the real estate industry in general. Risks associated with ownership of real estate include global and local economic conditions, decline in real estate values, changes in interest rates, and the strength or weakness of the real estate market.

You will bear not only your share of the trusts expenses, but also those of the underlying BDCs and REITs, which frequently have high expenses including but not limited to management fees and operational expenses. By investing in BDCs and REITs through the trust, investors incur greater expenses than they would incur if they invested directly in the BDCs and REITs.

BDCs and REITs may invest in foreign securities which involves certain risks not typically associated with investing solely in the United States. This may magnify volatility due to changes in foreign exchange rates, the political and economic uncertainties in foreign countries, U.S. or foreign tax treatment, and the potential lack of liquidity, government supervision and regulation.

BDCs may invest in securities of small and mid-cap companies. Securities of small and mid-cap companies are often more volatile than those of larger companies as a result of several factors such as limited trading volumes, products or financial resources, management inexperience and less publicly available information.

BDCs and REITs may invest in fixed income securities. Fixed income securities are subject to various risks, including interest rate, credit, call, and quality risk. In general, the value of the fixed income securities will fall if interest rates rise. In a declining interest-rate environment, the portfolio may generate less income. A security issuer may be unable to make interest and/or principal payments in the future. Also, the longer the period to maturity, the greater the sensitivity to interest rate changes tends to be.

BDCs may invest in high yield debt securities. High yield debt securities are generally below investment grade quality (non-investment grade debt). Investing in such debt should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such debt. Non-investment grade debt is subject to numerous risks including higher interest rates, economic recession, deterioration of the non-investment grade debt markets, possible downgrades and payment defaults of interest and/or principal. Non-investment grade debt prices tend to fluctuate more than higher rated debt and are affected by short-term credit developments to a greater degree.

BDCs and REITs operate in a highly competitive market for investment opportunities, and REITs and BDCs must raise additional capital to grow because they distribute most of their income.

Please consider the investment objectives, risks, charges and expenses of the unit investment trust carefully before investing. The risk factors listed above are not exhaustive. The prospectus contains this and other information about this unit investment trust. To obtain a prospectus, please download a prospectus from sec.gov/edgar.shtml or the Unit Trust Offerings page on Incapital.com. Please read the prospectus carefully before investing. Incapital Unit Trust, Series 47, is a unit investment trust that consists of the Prospect Income Finance Portfolio, Series 1. Incapital LLC serves as the Sponsor to the Trust.

Securities offered through and Unit Trusts sponsored by Incapital LLC, Member FINRA /SIPC. Annuities and insurance products offered through Incapital Insurance Services LLC, Member FINRA /SIPC. This material is strictly for specified recipients only and may not be reproduced, distributed or forwarded in any manner without the written permission of Incapital.

NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE