EXHIBIT 1.1
INVESCO UNIT TRUSTS, SERIES 1781
TRUST AGREEMENT
Dated: June 19, 2017
This Trust Agreement among Invesco Capital Markets, Inc. as Depositor, The
Bank of New York Mellon, as Trustee, and Invesco Investment Advisers LLC, as
Supervisor, sets forth certain provisions in full and incorporates other
provisions by reference to the document entitled "Standard Terms and Conditions
of Trust For Invesco Unit Trusts, Effective for Unit Investment Trusts
Established On and After December 6, 2012 (Including Invesco Unit Trusts, Series
1281 and Subsequent Series)" (the "Standard Terms and Conditions of Trust") and
such provisions as are set forth in full and such provisions as are incorporated
by reference constitute a single instrument. All references herein to Articles
and Sections are to Articles and Sections of the Standard Terms and Conditions
of Trust.
WITNESSETH THAT:
In consideration of the premises and of the mutual agreements herein
contained, the Depositor, Trustee and Supervisor agree as follows:
PART I
STANDARD TERMS AND CONDITIONS OF TRUST
Subject to the provisions of Part II hereof, all the provisions contained in
the Standard Terms and Conditions of Trust are herein incorporated by reference
in their entirety and shall be deemed to be a part of this instrument as fully
and to the same extent as though said provisions had been set forth in full in
this instrument.
PART II
SPECIAL TERMS AND CONDITIONS OF TRUST
The following special terms and conditions are hereby agreed to:
1. The Securities listed in the Schedules hereto have been deposited in trust
under this Trust Agreement.
2. The fractional undivided interest in and ownership of each Trust
represented by each Unit thereof referred to in Section 1.01(51) is initially an
amount the numerator of which is one and the denominator of which is the amount
set forth under "Units outstanding" for each Trust in the "Statements of
Condition" in the Prospectus.
3. The terms "Capital Account Distribution Date" and "Income Account
Distribution Date" shall mean the "Distribution Dates" set forth in the
"Essential Information" in the Prospectus.
4. The terms "Capital Account Record Date" and "Income Account Record Date"
shall mean the "Record Dates" set forth in the "Essential Information" in the
Prospectus.
5. The term "Deferred Sales Charge Payment Date" shall mean December 10, 2017
and the tenth day of each month thereafter through April 10, 2018.
6. Section 3.05(b)(i) of the Standard Terms and Conditions of Trust shall be
replaced in its entirety with the following:
"On each Distribution Date, the Trustee shall distribute to each Unitholder
of record at the close of business on the preceding Record Date an amount
per Unit equal to such Unitholder's Income Distribution (as defined below)
computed as of the close of business on the Record Date immediately
preceding such Distribution Date. On each Distribution Date, the Trustee
shall distribute to each Unitholder of record at the close of business on
the preceding Record Date such Unitholder's pro rata share of the balance
of the Capital Account (except for moneys on deposit therein required to
purchase Contract Securities). The Trust may provide the following
distribution elections: (1) distributions to be made to the address of the
Unitholder as it appears on the registration books of the Trustee or (2)
distributions to be made to the designated agent for any reinvestment
program when, as and if available to the Unitholder through the Depositor.
If no election is offered by the Depositor or if no election is specified
by the Unitholder at the time of purchase of any Unit, distribution of
principal and income and capital gains, if any, shall be distributed as
provided in (1) above. Any election other than a deemed election as
described in the preceding sentence shall be by written notice to, and in
form satisfactory to, the Trustee. Once a distribution election has been
chosen by the Unitholder, such election shall remain in effect until
changed by the Unitholder. Such change of election may be made by
notification thereof to the Trustee at any time in form satisfactory to the
Trustee. A transferee of any Unit may make his distribution election in the
manner as set forth above. The Trustee shall be entitled to receive in
writing a notification from the Unitholder as to his or her change of
address."
7. With respect to the Dividend Income Leaders Strategy Portfolio only,
Section 3.05(b)(ii) shall be replaced in its entirety by the following:
"(ii) For purposes of this Section 3.05, the Unitholder's "Income
Distribution" shall be equal to such Unitholders pro rata share of the
balance in the Income Account calculated on the basis of one-twelfth of the
estimated annual income to the Trust for the ensuing twelve months computed
as of the close of business on the Income Account Record Date immediately
preceding such Income Distribution (or portion or multiple thereof for the
first Income Distribution), after deduction of (1) the fees and expenses
then deductible pursuant to Section 3.05(a) and (2) the Trustee's estimate
of other expenses properly chargeable to the Income Account pursuant to
this Indenture which have accrued, as of such Income Account Record Date or
are otherwise properly attributable to the period to which such Income
Distribution relates.
In the event that the amount on deposit in the Income Account is not
sufficient for the payment of the amount intended to be distributed to
Unitholders on the basis of the aforesaid computation, the Trustee is
authorized to advance its own funds and cause to be deposited in and
credited to the Income Account such amounts as may be required to permit
payment of the related distribution to be made as aforesaid and shall be
entitled to be reimbursed, without interest, out of income payments
received by the Trust subsequent to the date of such advance. Any such
advance shall be reflected in the Income Account until repaid."
8. The Depositor's annual compensation rate described in Section 3.13 and the
Supervisor's annual compensation rate described in Section 4.01 collectively
shall be that amount set forth under "Supervisory, bookkeeping and
administrative fees" in the "Fee Table" in the Prospectus.
9. The Trustee's annual compensation rate described in Section 7.04 shall be
that amount set forth under "Trustee's fee and operating expenses" in the "Fee
Table" in the Prospectus.
IN WITNESS WHEREOF, the undersigned have caused this Trust Agreement to be
executed; all as of the day, month and year first above written.
INVESCO CAPITAL MARKETS, INC.
By: /s/ XXXX X. XXXXXXX
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Vice President
INVESCO INVESTMENT ADVISERS LLC
By: /s/ XXXX X. XXXXXXX
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Vice President and Executive Director
THE BANK OF NEW YORK MELLON
By: /s/ XXXXXX YEDREYESKI
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Vice President
SCHEDULE A TO TRUST AGREEMENT
SECURITIES INITIALLY DEPOSITED
IN
INVESCO UNIT TRUSTS, SERIES 1781
[Incorporated herein by this reference and made a part hereof is each
"Portfolio" schedule as set forth in the applicable Prospectus.]
