FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * JMB Capital Partners Master Fund L.P.   2. Issuer Name and Ticker or Trading Symbol Invesco Van Kampen Advantage Municipal Income Trust II [VKI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O SMITHWOOD ADVISERS, L.P., 1999 AVENUE OF THE STARS, SUITE 2040 3. Date of Earliest Transaction (Month/Day/Year) 01/09/2012 (Street) LOS ANGELES, CA 90067 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Auction Rate Preferred 01/09/2012   J(1)   4 D (1) 1,200 D (2)   Auction Rate Preferred 01/12/2012   J(1)   72 D (1) 1,128 D (2)   Auction Rate Preferred 01/13/2012   J(1)   20 D (1) 1,108 D (2)   Auction Rate Preferred 01/18/2012   J(1)   21 D (1) 1,087 D (2)   Auction Rate Preferred 01/19/2012   J(1)   22 D (1) 1,065 D (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
JMB Capital Partners Master Fund L.P. C/O SMITHWOOD ADVISERS, L.P. 1999 AVENUE OF THE STARS, SUITE 2040 LOS ANGELES, CA 90067		X
Smithwood Advisers, L.P. 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X
Smithwood General Partner, LLC 1999 AVENUE OF THE AMERICAS SUITE 2040 LOS ANGELES, CA 90067		X
Smithwood Partners LLC 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X
BROOKS JONATHAN 1999 AVENUE OF THE STARS SUITE 2040 LOS ANGELES, CA 90067		X

Signatures

By: Smithwood Partners, LLC, its General Partner, By: Jonathan Brooks, Managing Member		01/20/2012
**Signature of Reporting Person		Date
By: Smithwood General Partner, LLC, its GP, By: Jonathan Brooks, Managing Member		01/20/2012
**Signature of Reporting Person		Date
Jonathan Brooks, Managing Member		01/20/2012
**Signature of Reporting Person		Date
Jonathan Brooks, Managing Member		01/20/2012
**Signature of Reporting Person		Date
Jonathan Brooks		01/20/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These Auction Rate Preferred Shares were called for redemption by the Issuer at par value.
(2)	These shares are owned directly by JMB Capital Partners Master Fund, L.P. ("Master Fund"). Smithwood Partners LLC ("Partners") is the General Partner of Master Fund and Jonathan Brooks ("Brooks") is the Managing Member of Partners. In addition, Smithwood Advisers, L.P. ("Advisers") is the Investment Adviser to Master Fund. The General Partner of Advisers is Smithwood General Partner, LLC ("General Partner") and Brooks is the Managing Member of General Partner. Each of Partners, Advisers, General Partner and Brooks, by virtue of their relationships to Master Fund may be demed to indirectly beneficially own the shares directly owned by Master Fund. Each of Partners, Advisers, General Partner and Brooks disclaim beneficial ownership of those securities in which they do not have a pecuniary interest an this report shall not be deemed an admission that they are the beneficial owner of these securities for purposes of Section 16, except to the extent of their pecuniary interest.

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