Chapman and Cutler LLP
111 West Monroe Street
Chicago, Illinois 60603
November 6, 2019
VIA EDGAR FILING
Mr. Edward Bartz
Division of Investment Management
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: Guggenheim Defined Portfolios, Series 1562
Defined Outcome Trust: Large Cap Buffer 20 Portfolio, February 2021
File Nos. 333-215788 and 811-03763
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Dear Mr. Bartz:
This letter responds to your comments given during a telephone
conversation with our office regarding amendment no. 5 to the registration
statement on Form S-6 for Guggenheim Defined Portfolios, Series 1562, filed on
November 5, 2019 with the Securities and Exchange Commission (the "Commission").
The registration statement proposes to offer the Defined Outcome Trust: Large
Cap Buffer 20 Portfolio, February 2021 (the "Trust").
PROSPECTUS
Investment Summary - Principal Investment Strategies
1. Please amend the third sentence of the first paragraph to include the
phrase "a maximum return of" after "intended possible returns is capped at."
Additionally, please amend the fourth sentence of the first paragraph to include
the phrase "a maximum loss of" after "losses are limited to."
Response: The disclosure will be revised as requested.
2. Please amend the sixth sentence of the first paragraph to include the
phrase "after estimated trust fees and expenses" at the end of the sentence.
Response: The disclosure will be revised as requested.
3. In romanette (i) of the second sentence of the fifth paragraph, please
revise the phrase "percentage payout" to "percentage return." Additionally, in
romanette (ii), please revise the disclosure to clarify that unitholders will
receive a percentage loss.
Response: The disclosure will be revised as requested.
Investment Summary - Market Scenario Illustrations
4. In the third and fourth bullets under the first paragraph, please
revise the word "return" to "loss."
Response: The disclosure will be revised as requested.
5. In the "Graph of Hypothetical Total Amount for the Trust," please
revise the phrases "Market Reference Level" and "Total Amount" to match the
terms used in the prospectus.
Response: The disclosure will be revised as requested.
Investment Summary - Who Should Invest
6. In the third bullet under the second paragraph, please indicate revised
the maximum gain percentage and disclose that the maximum gain presented here
takes into account estimated trust fees and expenses.
Response: The disclosure will be revised as requested.
We appreciate your prompt attention to this registration statement. If you
have any questions or comments or would like to discuss our responses to your
questions, please feel free to contact the undersigned at (312) 845-3484.
Very truly yours,
CHAPMAN AND CUTLER LLP
By /s/ Morrison C. Warren
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Morrison C. Warren