esg opportunity portfolio 2019-4esg opportunity portfolio 2019-4 the unit investment trust named...

32
ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio invests in a portfolio of stocks. Of course, we cannot guarantee that the Portfolio will achieve its objective. September 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 Units or passed upon the adequacy or accuracy of this prospectus. Any contrary representation is a criminal offense.

Upload: others

Post on 26-Jul-2020

2 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

ESG Opportunity Portfolio 2019-4

The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. ThePortfolio invests in a portfolio of stocks. Of course, we cannot guarantee that the Portfolio will achieve its objective.

September 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

Page 2: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

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. Thecomponents of a favorable ESG profile are commonlyunderstood 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 equalopportunities for all 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 executive incentivesand 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 displaying balancesheet strength evidenced by a history ofachieving 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 focuses oncompanies with generally stable or increasing levels ofcommitment towards further strengthening their ESGpractices.

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 achieve moreconsistent overall results by following the strategythrough reinvestment of your proceeds over severalyears if subsequent series are available. Repeatedlyrolling over an investment in a unit investment trust maydiffer from long-term investments in other investmentproducts when considering the sales charges, fees,expenses and tax consequences attributable to aUnitholder. For more information see “Rights ofUnitholders--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.

2

ESG Opportunity Portfolio

Page 3: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

3

• 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 Portfolio willhold, and may continue to buy, shares of thesame securities even if their market valuedeclines.

Page 4: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

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 January 10, 2020 through June 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 September 13, 2019

Mandatory Termination Date December 17, 2020

Historical Annual Distributions1 $0.12435 per Unit

Estimated Initial Distribution1 $0.03 per Unit

Record Dates 10th day of each January,

April and July,

commencing January 10, 2020

Distribution Dates 25th day of each January,

April and July,

commencing January 25, 2020

CUSIP Numbers Cash – 46144J462

Reinvest – 46144J470

Fee Based Cash – 46144J488

Fee Based Reinvest – 46144J496

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.”

4

Page 5: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

5

ESG Opportunity Portfolio 2019-4

Portfolio______________________________________________________________________________________________________________ Cost ofNumber Market Value Securities toof Shares Name of Issuer (1) per Share (2) Portfolio (2) ___________ ___________________________________________ _____________ _____________ Communication Services - 7.73% 128 Verizon Communications, Inc. $ 60.4300 $ 7,735.04 56 Walt Disney Company 137.5000 7,700.00 Consumer Discretionary - 11.56% 33 Home Depot, Inc. 233.8000 7,715.40+ 68 Royal Caribbean Cruises, Ltd. 113.2700 7,702.36 135 TJX Companies, Inc. 56.7500 7,661.25 Consumer Staples - 7.66% 57 Kimberly-Clark Corporation 133.5800 7,614.06 56 PepsiCo, Inc. 137.2900 7,688.24 Energy - 3.81% 310 Devon Energy Corporation 24.5600 7,613.60 Financials - 11.54% 18 BlackRock, Inc. 434.7500 7,825.50 65 JPMorgan Chase & Company 117.9100 7,664.15 30 S&P Global, Inc. 251.8800 7,556.40 Health Care - 15.26% 120 CVS Health Corporation 63.9000 7,668.00 28 Humana, Inc. 268.3800 7,514.64+ 69 Medtronic plc 110.3800 7,616.22 92 Merck & Company, Inc. 83.3100 7,664.52 Industrials - 7.71%+ 62 Ingersoll-Rand plc 123.5000 7,657.00 99 Xylem, Inc. 78.0700 7,728.93 Information Technology - 23.18% 28 Adobe, Inc. 278.0200 7,784.56 78 Keysight Technologies, Inc. 99.0400 7,725.12 56 Microsoft Corporation 137.5200 7,701.12 50 Salesforce.com, Inc. 154.7500 7,737.50 59 Texas Instruments, Inc. 130.2200 7,682.98 43 Visa, Inc. - CL A 177.9800 7,653.14

Page 6: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

6

ESG Opportunity Portfolio 2019-4

Portfolio (continued)______________________________________________________________________________________________________________ Cost ofNumber Market Value Securities toof Shares Name of Issuer (1) per Share (2) Portfolio (2) ___________ ___________________________________________ _____________ _____________ Materials - 3.87% 35 Air Products and Chemicals, Inc. $ 220.6700 $ 7,723.45 Real Estate - 3.87% 92 Prologis, Inc. 84.0400 7,731.68 Utilities - 3.81% 159 Exelon Corporation 47.8800 7,612.92___________ ____________ 2,026 $ 199,677.78___________ _______________________ ____________

See “Notes to Portfolio”.

Page 7: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

7

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 September 12, 2019and have a settlement date of September 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 199,718 $ (40)

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

Page 8: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

8

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Sponsor and Unitholders of Invesco Unit Trusts, Series 1998:

Opinion on the Financial Statements

We have audited the accompanying statement of condition (including the related portfolio schedule) ofESG Opportunity Portfolio 2019-4 (included in Invesco Unit Trusts, Series 1998 (the “Trust”)) as ofSeptember 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 asof September 13, 2019, in conformity with accounting principles generally accepted in the United Statesof America.

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 September 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 YorkSeptember 13, 2019

Page 9: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

9

STATEMENT OF CONDITIONAs of September 13, 2019

INVESTMENT IN SECURITIESContracts to purchase Securities (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 199,678 ___________ Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 199,678 ___________ ___________

LIABILITIES AND INTEREST OF UNITHOLDERSLiabilities-- Organization costs (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,298 Deferred sales charge liability (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,696 Creation and development fee liability (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 998Interest of Unitholders-- Cost to investors (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199,678Less: deferred sales charge, creation and development fee and organization costs (2)(4)(5)(6) . . . . . . . . . . . . . . . . 4,992 ___________ Net interest to Unitholders (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194,686 ___________ Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 199,678 ___________ ___________Units outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,968 ___________ ___________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.

Page 10: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-1

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 aparticular 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

Page 11: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-2

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 thePortfolio is described in the Portfolio section. There isno assurance 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 valueof the securities in your Portfolio will fluctuate. Thiscould cause the value of your Units to fall below youroriginal purchase price. Market value fluctuates inresponse to various factors. These can includechanges in interest rates, inflation, the financialcondition of a security’s issuer, perceptions of theissuer, or ratings on a security of the issuer. Eventhough your Portfol io is supervised, you shouldremember that we do not manage your Portfolio. Your

Portfolio will not sell a security solely because themarket value falls as is possible in a managed 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 whole andcompared 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

Page 12: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-3

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 overall stateof the economy, intense competition and consumerspending trends. A decline in the economy which resultsin a reduction of consumers’ disposable income cannegatively impact spending habits. Global factorsincluding political developments, imposition of importcontrols, fluctuations in oil prices, and changes inexchange rates may adversely affect issuers of consumerproducts 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 Port fo l 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 competit ion, product l iabi l i tylitigation and evolving government regulation.

On March 30, 2010, the Heal th Care andEducation Reconciliation Act of 2010 (incorporatingthe Patient Protection and Affordable Care Act,collectively the “Act”) was enacted into law. The Actcontinues to have a significant impact on the healthcare sector through the implementation of a numberof reforms in a complex and ongoing process, withvarying effective dates. Significant provisions of theAct include the introduction of required health carecoverage for most Americans, significant expansion inthe number of Americans el igible for Medicaid,modification of taxes and tax credits in the health caresector, and subsidized insurance for low to middleincome families. The Act also provides for morethorough regulat ion of private health insuranceproviders, including a prohibition on the denial ofcoverage due to pre-existing conditions. Health carecompanies wi l l face cont inuing and signi f icantchanges that may cause a decrease in profitabilitydue to increased costs and changes in the healthcare 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(a penalty for failure to obtain a minimum level ofhealth insurance coverage) beginning in 2019. It isestimated that the repeal of the individual mandatewil l cause a signif icant amount of people to beuninsured which may have an adverse effect oninsurance premiums and federal subsidies. TheSponsor is unable to predict the full impact of the Act,or of its potential repeal or modification, on theSecurities in your Portfolio.

As illustrated by the Act, Congress may from timeto time propose legislative action that will impact thehealth care sector. The proposals may span a widerange of topics, including cost and price controls(which may inc lude a f reeze on the pr ices ofprescription drugs), incentives for competition in theprovision of health care services, promotion of

Page 13: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-4

pre-paid heal th care p lans and addi t ional taxincentives and penalties aimed at the health caresector. The government could also reduce funding forhealth care related research.

Drug and medical products companies also facethe risk of increasing competition from new productsor serv ices, gener ic drug sa les, productobsolescence, increased government regulation,termination of patent protection for drug or medicalsupply products and the risk that a product will nevercome to market. The research and developmentcosts of bringing a new drug or medical product tomarket are substantial. This process involves lengthygovernment review with no guarantee of approval.These companies may have losses and may not offerproposed products for several years, if at all. Thefailure to gain approval for a new drug or product canhave a substantial negative effect on a company andits stock. The goods and services of health careissuers are also subject to risks of malpractice claims,product liability claims or other litigation.

Health care facility operators face risks related todemand for services, the ability of the facility toprovide required services, an increased emphasis onoutpat ient serv ices, conf idence in the fac i l i ty,management capabilities, competitive forces that mayresult in price discounting, efforts by insurers andgovernment agencies to limit rates, expenses, thecost and possible unavai labi l i ty of malpract iceinsurance, and terminat ion or restr ict ion ofgovernment financial assistance (such as Medicare,Medicaid or similar programs).

Information Technology Issuers. Your Portfolio investssignificantly in information technology companies. Thesecompanies include companies that are involved incomputer 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, cyclical market

patterns, evolving industry standards and frequent newproduct 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 regulat ion. Thesecompanies can also be adversely affected byinterruption or reduction in supply of components orloss of key customers and failure to comply withcertain industry standards.

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 thevalue of a security will fall if trading in the security is

Page 14: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-5

limited or absent. The market for certain investmentsmay become less liquid or illiquid due to adversechanges in the conditions of a particular issuer or dueto adverse market or economic conditions. In theabsence of a liquid trading market for a particularsecurity, the price at which such security may be soldto meet redemptions, as well as the value of the Unitsof your Portfolio, may be adversely affected. No onecan guarantee that a liquid trading market will exist forany security.

No FDIC Guarantee. An investment in your Portfoliois not a deposit of any bank and is not insured orguaranteed 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 Unitplus organization costs plus the sales charge. The netasset value per Unit is the value of the securities, cashand other assets in your Portfolio reduced by theliabilities of the Portfolio divided by the total Unitsoutstanding. The maximum sales charge equals1.85% of the Public Offering Price per Unit (1.885% ofthe aggregate offering price of the Securities) at thetime 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 $0.185per Unit). Depending on the Public Offering Price perUnit, you pay the initial sales charge at the time you buyUnits. The deferred sales charge is fixed at $0.135 perUnit. Your Portfolio pays the deferred sales charge ininstallments as described in the “Fee Table.” If anydeferred sales charge payment date is not a businessday, we will charge the payment on the next businessday. If you purchase Units after the initial deferred salescharge payment, you will only pay that portion of thepayments not yet collected. If you redeem or sell yourUnits prior to collection of the total deferred salescharge, you will pay any remaining deferred sales chargeupon redemption or sale of your Units. The initial and

deferred sales charges are referred to as the“transactional sales charge.” The transactional salescharge does not include the creation and developmentfee which compensates the Sponsor for creating anddeveloping your Portfolio and is described under“Expenses.” The creation and development fee is fixedat $0.05 per Unit. Your Portfolio pays the creation anddevelopment fee as of the close of the initial offeringperiod as described in the “Fee Table.” If you redeem orsell your Units prior to collection of the creation anddevelopment fee, you will not pay the creation anddevelopment fee upon redemption or sale of your Units.After the initial offering period the maximum sales chargewill be reduced by 0.50%, reflecting the previouscollection of the creation and development fee. Becausethe deferred sales charge and creation and developmentfee are fixed dollar amounts per Unit, the actual chargeswill exceed the percentages shown in the “Fee Table” ifthe Public Offering Price per Unit falls below $10 and willbe less than the percentages shown in the “Fee Table” ifthe Public Offering Price per Unit exceeds $10. In noevent will the maximum total sales charge exceed1.85% of the Public Offering Price per Unit.

The “Fee Table” shows the sales charge calculation ata $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 Price exceeds$10 per Unit, you will pay an initial sales charge equal tothe difference between the total sales charge and the sumof the remaining deferred sales charge and the creationand development fee. For example, if the Public OfferingPrice per Unit rose to $14, the maximum sales chargewould be $0.259 (1.85% of the Public Offering Price perUnit), consisting of an initial sales charge of $0.074, adeferred sales charge of $0.135 and the creation anddevelopment fee of $0.050. Since the deferred salescharge and creation and development fee are fixed dollaramounts per Unit, your Portfolio must charge theseamounts per Unit regardless of any decrease in net assetvalue. However, if the Public Offering Price per Unit falls tothe extent that the maximum sales charge percentageresults in a dollar amount that is less than the combinedfixed dollar amounts of the deferred sales charge andcreation and development fee, your initial sales charge will

Page 15: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-6

be a credit equal to the amount by which these fixeddollar charges exceed your sales charge at the time youbuy Units. In such a situation, the value of securities perUnit would exceed the Public Offering Price per Unit bythe amount of the initial sales charge credit and the valueof those securities will fluctuate, which could result in abenefit or detriment to Unitholders that purchase Units atthat price. 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 $0.135 anda 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 thatyou pay. It is your financial professional’s responsibilityto alert the Sponsor of any discount when youpurchase Units. Before you purchase Units you mustalso inform your f inancia l professional of yourqualification for any discount to be eligible for areduced sales charge. Since the deferred salescharges and creation and development fee are fixeddollar amounts per Unit, your Portfolio must chargethese amounts per Unit regardless of any discounts.However, if you are eligible to receive a discount suchthat your total sales charge is less than the fixed dollaramounts of the deferred sales charges and creationand development fee, you will receive a credit equal tothe difference between your total sales charge andthese fixed dollar charges at the time you buy Units.

Fee Accounts. Investors may purchase Units throughregistered investment advisers, certified financialplanners and registered broker-dealers who in each

case either charge periodic fees for brokerage services,f inancial planning, investment advisory or assetmanagement services, or provide such services inconnection 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 development feeare fixed dollar amounts per unit, your Portfolio mustcharge these amounts per unit regardless of this discount.If you elect to reinvest distributions, the Sponsor will credityou with additional Units with a dollar value sufficient tocover the amount of any remaining deferred sales chargeand creation and development fee that will be collected

Page 16: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-7

on such Units at the time of reinvestment. The dollar valueof these Units will fluctuate over time.

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. Thevalue 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. These costsinclude the costs of preparing documents relating toyour 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 certa in cases be e l ig ib le for anadditional concession based upon their annual eligiblesales of all Invesco fixed income and equity unitinvestment trusts. Eligible sales include all units of anyInvesco uni t investment t rust underwr i t ten orpurchased directly from Invesco during a trust’s initialoffering period. For purposes of this concession,trusts designated as either “Invesco Unit Trusts,Taxable Income Series” or “Invesco Unit Trusts,Municipal Series” are fixed income trusts, and trustsdesignated as “Invesco Unit Trusts Series” are equitytrusts. In addition to the regular concessions or

Page 17: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-8

agency commissions described above in “Unit SalesConcessions” all broker-dealers and other sellingf i rms wi l l be e l ig ib le to receive addi t ionalcompensation based on total initial offering periodsales of all eligible Invesco unit investment trustsduring the previous consecutive 12-month periodthrough the end of the most recent month. TheVolume Concession, as applicable to equity and fixedincome trust units, is set forth 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 sell ing firms will notreceive the Volume Concession on the sale of unitspurchased in Fee Accounts, however, such sales willbe included in determining whether a firm has met thesales level breakpoints set forth in the VolumeConcession table above. Secondary market sales ofall unit investment trusts are excluded for purposes ofthe Volume Concession. Eligible dealer firms and otherselling agents include clearing firms that place orderswith Invesco and provide Invesco with information withrespect to the representatives who initiated suchtransactions. Eligible dealer firms and other sellingagents wil l not include f irms that solely provideclearing services to other broker-dealer firms or firmswho place orders through clearing firms that areeligible dealers. We reserve the right to change theamount of the concessions or agency commissionsfrom time to time. For a trust to be eligible for thisadditional compensation, the trust’s prospectus mustinclude disclosure re lated to th is addit ionalcompensation.

Additional Information. Except as provided in thissection, any sales charge discount provided toinvestors will be borne by the selling broker-dealer or

agent. 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 thetotal 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,incurred in connection with trips taken by invitedregistered representatives for meetings or seminars ofa business nature. These arrangements will not changethe price you 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 the

Page 18: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-9

Securities. 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 willrealize 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. The

Sponsor 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 a Portfoliois Fee Based Eligible. You should consult your financialprofessional to determine whether you can benefit fromthese accounts. This table illustrates the sales charge youwill pay if a Portfolio is Fee Based Eligible as a percentageof the initial Public Offering Price per Unit on the InitialDate of Deposit (the percentage 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 right 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

Page 19: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-10

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 preceding theInitial Date of Deposit. Generally, these figures are basedupon several recently declared dividends or distributionswithin the preceding 12 month period, as well as interimand final dividends or distributions of foreign issuers(accounting for any foreign withholding taxes oradditional declared distributions). With respect todomestic common stock issuers, these figures aretypically based upon the most recent ordinary quarterlydividend, which is annualized. However, common stocksdo not assure dividend payments and therefore theamount of future dividend income to your Portfolio isuncertain. 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 to payregular fees and expenses during your Portfolio’s life.Dividend and income conventions for certain companiesand/or certain countries differ from those typically usedin the United States and in certain instances,dividends/income paid or declared over several years orother periods may be used to calculate historical annualdistributions. The actual net annual income distributionsyou receive wil l vary from the historical annualdistribution amount due to changes in dividends anddistribution amounts paid by the issuers; currencyfluctuations; the sale of Securities to pay any deferredsales charge; Portfolio fees and expenses; and withchanges in your Portfolio such as the acquisition, call,maturity or sale of Securities. Due to these and variousother factors, actual income received by your Portfoliowill most likely differ from the most recent dividends orscheduled 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 reinvestment ofdistributions are set forth under “Essential Information”.Brokers and dealers can use the Dividend Reinvestment

Page 20: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-11

Service through Depository Trust Company (“DTC”) orpurchase a Reinvest (or Fee Based Reinvest in the caseof Fee Based Eligible Units held in Fee Accounts) CUSIP,if available. To participate in this reinvestment option, aUnitholder must file with the Trustee a written notice ofelection, together with any other documentation that theTrustee may then require, at least five days prior to therelated Record Date. A Unitholder’s election will apply toall Units owned by the Unitholder and will remain ineffect until changed by the Unitholder. The reinvestmentoption is not offered during the 30 calendar days prior totermination. If Units are unavailable for reinvestment orthis reinvestment option is no longer available,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 in cashby notifying the Trustee in writing no later than five daysbefore a Distribution Date. The Sponsor shall have theright to suspend or terminate the reinvestment plan atany time. The reinvestment plan is subject to availabilityor limitation by each broker-dealer or selling firm.Broker-dealers may suspend or terminate the offering ofa reinvestment plan at any time. Please contact yourfinancial professional for additional 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 Trust Division,111 Sanders Creek Parkway, East Syracuse, New York13057, on any day the New York Stock Exchange isopen. No redemption fee will be charged by the Sponsoror the Trustee, but you are responsible for applicablegovernmental charges, if any. Units redeemed by theTrustee will be canceled. You may redeem all or a portionof your Units by sending a request for redemption to yourbank or broker-dealer through which you hold your Units.No later than two business days (or any shorter period asmay be required by the applicable rules under the 1934Act) following satisfactory tender, the Unitholder will beentitled to receive in cash an amount for each Unit equalto the Redemption Price per Unit next computed on thedate of tender. The “date of tender” is deemed to be thedate on which Units are received by the Trustee, except

that with respect to Units received by the Trustee afterthe Evaluation Time or on a day which is not a businessday, the date of tender is deemed to be the nextbusiness day. Redemption requests received by theTrustee after the Evaluation Time, and redemptionrequests received by authorized financial professionalsafter the Evaluation Time or redemption requestsreceived by such persons that are not transmitted to theTrustee until after the time designated by the Trustee, arepriced based on the date of the next determinedredemption price provided they are received timely by theTrustee on such date. It is the responsibility of authorizedfinancial professionals to transmit redemption requestsreceived by them to the Trustee so they will be receivedin a timely manner. Certain broker-dealers or selling firmsmay charge an order handling fee for processingredemption requests. Units redeemed directly throughthe Trustee are not subject 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 distribution duringthe initial offering period or within 30 calendar days of aPortfolio’s termination. The Portfolio generally will not offerin kind distributions of portfolio securities that are held inforeign markets. An in kind distribution will be made bythe Trustee through the distribution of each of theSecurities in book-entry form to the account of theUnitholder’s broker-dealer at DTC. Amounts representingfractional shares will be distributed in cash. The Trusteemay adjust the number of shares of any Security includedin a Unitholder’s in kind distribution to facilitate thedistribution of whole shares. The in kind distributionoption may be modified or discontinued at any timewithout notice. Notwithstanding the foregoing, if theUnitholder requesting an in kind distribution is theSponsor or an affiliated person of the Portfolio, theTrustee may make an in kind distribution to suchUnitholder 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 all

Page 21: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-12

portfolio 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 received inan in-kind distribution, and any such securities receivedwill be subject to market risk until sold. In the event thatany securities received in-kind are illiquid, Unitholders willbear the risk of not being able to sell such securities inthe 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 period

during 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 may discontinuethis 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.

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 will

Page 22: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-13

offer the same investment strategies or objectives as thecurrent Portfolio. We cannot guarantee that a Rollover willavoid any negative market price consequences resultingfrom trading large volumes of securities. Market pricetrends may make it advantageous to sell or buy securitiesmore quickly or more slowly than permitted by thePortfolio procedures. We may, in our sole discretion,modify a Rollover or stop creating units of a trust at anytime regardless of whether all proceeds of Unitholdershave been reinvested in a Rollover. If we decide not tooffer a subsequent series, Unitholders will be notifiedprior to the Mandatory Termination Date. Cash which hasnot been reinvested in a Rollover will be distributed toUnitholders shortly after the Mandatory Termination Date.Rollover participants may receive taxable dividends orrealize taxable capital gains which are reinvested inconnection with a Rollover but may not be entitled to adeduction for capital losses due to the “wash sale” taxrules. Due to the reinvestment in a subsequent trust, nocash will be distributed to pay any taxes. See “Taxation”.

Units. Ownership of Units is evidenced in book-entryform only and will not be evidenced by certificates. Unitspurchased or held through your bank or broker-dealerwill be recorded in book-entry form and credited to theaccount of your bank or broker-dealer at DTC. Units aretransferable by contacting your bank or broker-dealerthrough which you hold your Units. Transfer, and therequirements therefore, wil l be governed by theapplicable procedures of DTC and your agreement withthe DTC participant in whose name your Units areregistered on the transfer records of DTC.

Reports Provided. Unitholders will receive astatement of dividends and other amounts received by aPortfolio for each distribution. Within a reasonable timeafter the end of each year, each person who was aUnitholder during that year will receive a statementdescribing dividends and capital received, actualPortfolio distributions, Portfolio expenses, a list of theSecurities and other Portfolio information. Unitholdersmay obtain evaluations of the Securities upon request tothe 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 to suchan extent or other credit factors exist so that in the opinionof the Supervisor retention of the Security would bedetrimental to a Portfolio. If a public tender offer has beenmade for a Security or a merger or acquisition has beenannounced affecting a Security, the Trustee may either sellthe Security or accept an offer if the Supervisordetermines that the sale or exchange is in the bestinterest of Unitholders. The Trustee will distribute any cashproceeds to Unitholders. In addition, the Trustee may sellSecurities to redeem Units or pay Portfolio expenses ordeferred sales charges. If securities or property areacquired by a Portfolio, the Sponsor may direct theTrustee to sell the securities or property and distribute theproceeds to Unitholders or to accept the securities orproperty for deposit in the Portfolio. Should any contractfor the purchase of any of the Securities fail, the Sponsorwill (unless substantially all of the moneys held in thePortfolio to cover the purchase are reinvested in substituteSecurities in accordance with the Trust Agreement) refundthe cash and sales charge attributable to the failedcontract to all Unitholders on or before the nextDistribution 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 ofthe 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 and

Page 23: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-14

to 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 inthe Trust Agreement). The Trustee wi l l not i fyUnitholders of any amendment.

Termination. The Portfolio will terminate on theMandatory Termination Date specified under “EssentialInformation” 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 in

the 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 errorsin judgment, but shall be liable only for their own willfulmisfeasance, bad faith or gross negligence (negligencein the case of the Trustee) in the performance of theirduties or by reason of their reckless disregard of theirobligations and duties hereunder. The Trustee is notliable for depreciation or loss incurred by reason of thesale by the Trustee of any of the Securities. In the eventof the failure of the Sponsor to act under the Trust

Page 24: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-15

Agreement, the Trustee may act thereunder and is notliable for any action taken by it in good faith under theTrust Agreement. The Trustee is not liable for any taxesor other governmental charges imposed on theSecurities, on it as Trustee under the Trust Agreement oron a Portfolio which the Trustee may be required to payunder any present or future law of the United States ofAmerica or of any other taxing authority havingjurisdiction. In addition, the Trust Agreement containsother customary provisions limiting the liability of theTrustee. The Sponsor and Supervisor may rely on anyevaluation furnished by the Trustee and have noresponsibility for the accuracy thereof. Determinations bythe Trustee shall be made in good faith upon the basis ofthe best information available 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 June 30, 2019, the totalstockholders’ equity of Invesco Capital Markets, Inc. was$93,716,910.81 (unaudited). The current assets undermanagement and supervision by Invesco Ltd. and itsaffiliates were valued at approximately $1,197.8 billion asof June 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 toprevent 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 of compensationdeemed by the Trustee to be reasonable and not

exceeding amounts prescribed by the SEC, (ii) terminatethe Trust Agreement and liquidate the Portfolio asprovided therein or (iii) continue to act as Trustee withoutterminating the Trust Agreement.

Trustee. The Trustee is The Bank of New York Mellon,a trust company organized under the laws of New York.The Bank of New York Mellon has its principal unitinvestment trust division offices at 2 Hanson Place, 12thFloor, Brooklyn, New York 11217, (800) 856-8487. If youhave questions regarding your account or your Portfolio,please contact the Trustee at its principal unit investmenttrust division offices or your financial adviser. The Sponsordoes not have access to individual account information.The Bank of New York Mellon is subject to supervisionand examination by the Superintendent of Banks of theState of New York and the Board of Governors of theFederal Reserve System, and its deposits are insured bythe Federal Deposit Insurance Corporation to the extentpermitted by law. Additional information regarding theTrustee is set forth in the Information Supplement,including the Trustee’s qualifications and duties, its abilityto resign, the effect of a merger involving the Trustee andthe Sponsor’s ability 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 of thePortfolio. 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,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 not

Page 25: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-16

asked 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 elect andto qualify annually as a "regulated investment company"("RIC") under the federal tax laws. If your Portfolioqualifies under the tax law as a RIC and distributes itsincome in the manner and amounts required by the RICtax requirements, the Portfolio generally will not payfederal income taxes. But there is no assurance that thedistributions made by your Portfolio will eliminate alltaxes for every year at the level of 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 during whichthe value of your Units has declined. Ordinary incomedistributions are generally taxed at your federal tax ratefor ordinary income, however, as further discussedbelow, certain ordinary income distributions receivedfrom your Portfolio may be taxed, under current federallaw, at capital gains tax rates. Certain ordinary incomedividends on Units that are attributable to qualifyingdividends received by your Portfolio from certaincorporations may be reported by the Portfolio as beingeligible for the dividends received deduction forcorporate Unitholders provided certain holding periodrequirements are met. Income from the Portfolio andgains 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 of basiswould be taxed as a capital gain. Generally, you will treatall capital gains dividends as long-term capital gains

regardless of how long you have owned your Units. Thetax status of your distributions from your Portfolio is notaffected by whether you reinvest your distributions inadditional Units or receive them in cash. The incomefrom your Portfolio that you must take into account forfederal income tax purposes is not reduced by amountsused to pay a deferred sales charge, if any. The tax lawsmay require you to treat certain distributions made toyou in January as if you had received them onDecember 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 distribution. Accordingly, a distributionpaid shortly after a purchase of Units by a Unitholderwould represent, in substance, a partial return of capital,however, it would be subject to income taxes.

Sale or Redemption of Units. If you sell orredeem your Units, you will generally recognize a taxablegain or loss. To determine the amount of this gain orloss, you must subtract your adjusted tax basis in yourUnits from the amount you receive for the sale of theUnits. Your initial tax basis in your Units is generally equalto 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-termif the holding period for the asset is more than one yearand is short-term if the holding period for the asset isone year or less. You must exclude the date youpurchase 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 gains realizedfrom assets held for one year or less are generally thesame 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

Page 26: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-17

that apply to net capital gain (as discussed above),provided certain holding period requirements aresatisfied and provided the dividends are attributable toqualified dividend income received by the Portfolio itself.Qualified dividend income means dividends paid to thePortfolio (a) by domestic corporations, (b) by foreigncorporations that are either ( i ) incorporated in apossession of the United States or (ii) are eligible forbenefits under certain income tax treaties with theUnited States that include an exchange of informationprogram, or (c) with respect to stock of a foreigncorporation that is readily tradeable on an establishedsecurities market in the United States. Both the Portfolioand the Unitholder must meet certain holding periodrequirements to qualify Portfolio dividends for thistreatment. Income derived from investments inderivatives, fixed-income securities, U.S. real estateinvestment trusts, passive foreign investmentcompanies, and income received "in lieu of" dividends ina securities lending transactions generally is not eligiblefor treatment as qualified dividend income. If thequalified dividend income received by the Portfolio isequal to 95% (or a greater percentage) of the Portfolio'sgross income (exclusive of net capital gain) in anytaxable year, all of the ordinary income dividends paid bythe Portfolio will be qualified dividend income. YourPortfolio will provide notice to its Unitholders of theamount of any distribution which may be taken intoaccount as qualified dividend income which is eligible forcapital gains tax rates. There is no requirement that taxconsequences be taken into account in administeringyour Portfolio.

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

federal income tax purposes and any gain on the salewill be treated as a capital gain, and, in general, any losswill 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 days afterdisposition of Units or to the extent that the Unitholder,during such period, acquires or enters into an option orcontract to acquire, substantially identical stock orsecurities. In such a case, the basis of the Unitsacquired will be adjusted to reflect the disallowed loss.The deductibility of capital losses is subject to otherlimitations in the tax law.

Deductibility of Portfolio Expenses. Expensesincurred and deducted by your Portfolio will generally notbe treated as taxable income to you. In certain cases ifyour Portfolio is not considered "publicly offered" underthe Code, each U.S. Unitholder that is either anindividual, trust or estate will be treated as havingreceived a taxable distribution from the Portfolio in theamount of that U.S. Unitholder's allocable share ofcertain of the Portfolio's expenses for the calendar year,and these fees and expenses wil l 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 or a U.S.corporation, partnership, estate or trust), generally,subject to applicable tax treaties, distributions to youfrom your Portfolio will be characterized as dividends forfederal income tax purposes (other than dividends thatyour Portfolio reports as capital gain dividends) and willbe subject to U.S. income taxes, including withholdingtaxes, subject to certain exceptions described below.You may be eligible under certain income tax treaties fora reduction in withholding rates. However, distributionsreceived by a foreign investor from your Portfolio that areproperly reported by the trust as capital gain dividends,interest-related dividends paid by the Portfolio from itsqualified net interest income from U.S. sources and

Page 27: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-18

short-term capital gain dividends, may not be subject toU.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 nota "foreign financial institution," it identifies certain of itsU.S. investors or (iii) the foreign entity is otherwiseexcepted under FATCA. If required under the rules aboveand subject 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 proposedTreasury Regulations until final Treasury Regulations areissued. If withholding is required under FATCA on apayment related to your Units, investors that otherwisewould not be subject to withholding (or that otherwisewould be entitled to a reduced rate of withholding) onsuch payment generally will be required to seek a refundor credit 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 regardingthe effect of FATCA based on your individualcircumstances.

Foreign Tax Credit. If your Portfolio invests in anyforeign securities, the tax statement that you receive mayinclude an item showing foreign taxes your Portfolio paidto other countries. In this case, dividends taxed to youwill include your share of the taxes your Portfolio paid toother countries. If more than 50% of the value of thePortfolio's total assets at the end of a fiscal year isinvested in foreign securities, the Portfolio may elect to"pass-through" to the Unitholders the amount of foreign

income tax paid by the Portfolio in lieu of deducting suchamount in determining its investment company taxableincome. In such a case, Unitholders will be required (i) toinclude in gross income, even though not actuallyreceived, their respective pro rata shares of the foreignincome tax paid by the Portfolio that are attributable toany distributions they receive; and (ii) either to deducttheir pro rata share of foreign tax in computing theirtaxable income or to use it (subject to various limitations)as a foreign 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 Portfolio due to certain limitationsthat may apply. The Portfolio reserves the right not topass-through to its Unitholders the amount of foreignincome 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 certify thatyou are not subject to backup withholding, or if the IRSinstructs your Portfolio to do so.

Investors should consult their advisors concerning thefederal, 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 IncomeAccount 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 not

Page 28: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-19

exceeding 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 “FeeTable” (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 fo l lowingadditional charges are or may be incurred by yourPortfolio: (a) normal expenses (including the cost ofmailing reports to Unitholders) incurred in connectionwith the operation of the Portfolio, (b) fees of theTrustee for extraordinary services, (c) expenses of theTrustee (including legal and auditing expenses) and ofcounsel designated by the Sponsor, (d) variousgovernmental charges, (e) expenses and costs of anyaction taken by the Trustee to protect the Portfolio andthe r ights and interests of Unitholders, ( f )indemnification of the Trustee for any loss, liability orexpenses incurred in the administration of the Portfoliowithout negligence, bad faith or wilful misconduct onits part, (g) foreign custodial and transaction fees(which may include compensation paid to the Trusteeor its subsidiaries or affiliates), (h) costs associatedwith liquidating the securities held in the Portfolio, (i)any offering costs incurred after the end of the initialoffer ing per iod and ( j ) expenditures incurred incontacting Unitholders upon termination of thePortfolio. The Portfolio may pay the expenses ofupdating its registration statement each year.

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 public

Page 29: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

A-20

accounting firm, as set forth in their report in thisprospectus, and are included herein in reliance uponthe authority of said firm as experts in accounting andauditing.

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 of 1933and the Investment Company Act of 1940 (file no.811-2754). The Information Supplement, which hasbeen filed with the SEC and is incorporated herein byreference, includes more detailed information concerningthe Securities, investment risks and general informationabout your Portfolio. Reports and other informationabout your Portfolio are available on the EDGARDatabase 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 fol lowing e-mail address:[email protected] or by writing the SEC’s PublicReference Section, Washington, DC 20549-0102.

Page 30: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

THIS PAGE INTENTIONALLY LEFT BLANK.

Page 31: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

THIS PAGE INTENTIONALLY LEFT BLANK.

Page 32: ESG Opportunity Portfolio 2019-4ESG Opportunity Portfolio 2019-4 The unit investment trust named above (the “Portfolio”) is included in Invesco Unit Trusts, Series 1998. The Portfolio

TABLE OF CONTENTS

Title Page

ESG Opportunity Portfolio.................................. 2Notes to Portfolio............................................... 7Report of Independent Registered

Public Accounting Firm .................................. 8Statement of Condition ..................................... 9The 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-19Additional 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-EMSPRO1998

PROSPECTUS

September 13, 2019

ESG Opportunity Portfolio 2019-4

Please retain this prospectus for future reference.

INVESCO