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Guggenheim Defined Portfolios, Series 2063 Covered Call & Income

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Guggenheim Defined Portfolios, Series 2063 Covered Call & Income Guggenheim Defined Portfolios, Series 2063 Covered Call & Income Portfolio of CEFs, Series 46 Zacks Income Advantage Strategy Portfolio, Series 52 ® GUGGENHEIM LOGO PROSPECTUS PART A DATED OCTOBER 8, 2020 Portfolios containing securities selected by Guggenheim Funds Distributors, LLC with the assistance of Zacks Investment Management for Zacks Income Advantage Strategy Portfolio, Series 52 An investment can be made in the underlying closed-end funds in the trusts directly rather than through the trusts. These direct investments can be made without paying the sales charge, operating expenses and organizational costs of the trusts. The Securities and Exchange Commission has not approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. INVESTMENT SUMMARY End Funds featuring the potential for current income, diversification and overall liquidity. Overview What is a Covered Call Writing Strategy? Guggenheim Defined Portfolios, Series 2063 is a unit investment trust that consists of Call options are contracts representing the the Covered Call & Income Portfolio of CEFs, right to purchase a common stock at a specified Series 46 (the “Covered Call Trust”) and the price, known as the “strike price,” at a specified Zacks Income Advantage Strategy Portfolio, future date, known as the “expiration date,” in Series 52 (the “Zacks Trust”) (collectively exchange for an option premium. referred to as the “trusts” and individually referred to as a “trust”). Guggenheim Funds Certain Closed-End Funds held within the Distributors, LLC (“Guggenheim Funds” or the trust’s portfolio employ an option strategy of “sponsor”) serves as the sponsor of the trusts. writing/selling covered call options on the majority of the common stocks held within the The Zacks Trust is scheduled to terminate in underlying Closed-End Funds. Covered call approximately 15 months and the Covered Call option writing is designed to produce income Trust is scheduled to terminate in approximately from option premiums and offset a portion of a two years. market decline in the underlying common stock. In short, a covered call strategy may provide COVERED CALL & INCOME PORTFOLIO limited downside protection of the “covered” OF CEFS, SERIES 46 stock in exchange for some of the upside appreciation potential. Use this Investment Summary to help you decide whether an investment in this trust is Security Selection right for you. More detailed information can be found later in this prospectus. The sponsor has selected for the portfolio Closed-End Funds believed to have the best potential to achieve the trust’s investment Investment Objective objective. The Closed-End Funds’ portfolios The Covered Call Trust seeks to provide consist primarily of covered call securities and/or current income and the potential for capital income producing securities, including equity appreciation. securities, high-yield bonds, convertible securities and preferred securities. Such income producing securities may be securities of foreign companies, Principal Investment Strategy including companies located emerging markets. Under normal circumstances, the trust will invest at least 80% of the value of its assets in As of the trust’s initial date of deposit (the common shares of closed-end investment “Inception Date”), 100% of the trust’s portfolio is companies (“Closed-End Funds”) that are invested in securities of Closed-End Funds with considered to be covered call funds and/or portfolios that consist primarily of covered call income funds. The Closed-End Funds may securities and/or income producing securities. contain portfolios that are concentrated in high- yield or “junk” bonds. The sponsor, through proprietary research, will strive to select Closed- 2 Investment Summary When selecting Closed-End Funds for fluctuate more than higher rated securities and inclusion in this portfolio the sponsor looks at are affected by short-term credit developments numerous factors. These factors include, but are to a greater degree. not limited to: Future Trusts • Investment Objective. The sponsor favors funds that have a clear The sponsor may create future trusts that investment objective in line with the follow the same general investment strategy. trust’s objective and, based upon a One such trust is expected to be available review of publicly available approximately six months after the trust’s initial information, appear to be date of deposit (the “Inception Date”) and upon maintaining it. the trust’s termination. Each trust is designed to be part of a longer term strategy. • Premium/Discount. The sponsor favors funds that are trading at a Essential Information discount relative to their peers and (as of the Inception Date) relative to their long-term average. Inception Date October 8, 2020 Unit Price $10.00 • Consistent Dividend. The sponsor Termination Date October 10, 2022 favors funds that have a history of Distribution Date 25th day of each month (commencing October 25, 2020, if any) paying a consistent and competitive Record Date 15th day of each month dividend. (commencing October 15, 2020, if any) • Performance. The sponsor favors CUSIP Numbers funds that have a history of strong Cash Distributions relative performance (based on market Standard Accounts 40176C545 price and net asset value) when Fee Account Cash 40176C560 compared to their peers and an Reinvested Distributions applicable benchmark. Standard Accounts 40176C552 Fee Account Reinvest 40176C578 Some of the securities held by the Closed- Ticker CCCIRX End Funds may be high-yield bonds. High-yield or “junk” bonds, the generic names for bonds Portfolio Diversification rated below investment-grade, are frequently Approximate issued by corporations in the growth stage of _____________Security Type _____________________ Portfolio Percentage their development or by established companies Closed-End Funds 100.00% who are highly leveraged or whose operations or ______ Total 100.00% industries are depressed. Obligations rated ______ below investment-grade should be considered speculative as these ratings indicate a quality of Minimum Investment less than investment-grade. Because high-yield All accounts 1 unit bonds are generally subordinated obligations and are perceived by investors to be riskier than higher rated securities, their prices tend to Investment Summary 3 Principal Risks losses. Any adverse event could materially and negatively impact the As with all investments, you may lose some value and performance of trust and the or all of your investment in the trust. No trust’s ability to achieve its investment assurance can be given that the trust’s objectives. Units of the trust are not investment objective will be achieved. The trust deposits of any bank and are not also might not perform as well as you expect. insured or guaranteed by the Federal This can happen for reasons such as these: Deposit Insurance Corporation or any other government agency. • Securities prices can be volatile. The value of your investment may fall • The trust includes Closed-End Funds. over time. Market value fluctuates in Closed-End Funds are actively response to various factors. These can managed investment companies that include stock market movements, invest in various types of securities. purchases or sales of securities by the Closed-End Funds issue common trust, government policies, litigation, shares that are traded on a securities and changes in interest rates, inflation, exchange. Closed-End Funds are the financial condition of the subject to various risks, including securities’ issuer or even perceptions management’s ability to meet the of the issuer. Changes in legal, Closed-End Fund’s investment political, regulatory, tax and economic objective and to manage the Closed- conditions may cause fluctuations in End Fund’s portfolio during periods of markets and securities prices, which market turmoil and as investors’ could negatively impact the value of perceptions regarding Closed-End the trust. Additionally, event such Funds or their underlying investments war, terrorism, natural and change. Closed-End Funds are not environmental disasters and the spread redeemable at the option of the of infectious illnesses or other public shareholder and they may trade in the health emergencies may adversely market at a discount to their net asset affect the economy, various markets value. Closed-End Funds may also and issuers. Recently, the outbreak of employ the use of leverage which a novel and highly contagious form of increases risk and volatility. coronavirus (“COVID-19”) has adversely impacted global commercial • The Closed-End Funds are subject activity and contributed to significant to annual fees and expenses, volatility in certain markets. Many including a management fee. governments and businesses have Unitholders of the trust will bear these instituted quarantines and closures, fees in addition to the fees and which has resulted in significant expenses of the trust. See “Fees and disruption in manufacturing, supply Expenses” for additional information. chains, consumer demand and economic activity. The potential • Certain Closed-End Funds held by impacts are increasingly uncertain, the trust invest in call options. The difficult to assess and impossible to call writing portion of the investment predict, and may result in significant strategy of the Closed-End Funds may 4 Investment Summary not be successful in that the Closed-End securities with longer periods
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