First Trust Combined Series 295 offers Tax Exempt Municipal units

By Tali David

Minneapolis, March 27 - First Trust Combined Series 295 is offering units of its Tax Exempt Municipal Income Trust, Long Intermediate Series, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Wheaton, Ill.-based First Trust Portfolios LP.

The trust seeks income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of tax-exempt municipal bonds issued by or on behalf of certain states or United States territories that provide income that is exempt from federal and applicable state and local income tax.

On the March 27 inception date, $11,126,125 in contracts to purchase securities comprised the portfolio. The 11,700 units have a public offering price $995.06 and have a net asset value of $950.95.

The estimated current return is 4.00% and the estimated long-term return is 3.43%. The estimated annual net interest income is $39.80 per unit.

The units each carry a maximum sales charge of 3.95%. Sales charge reductions are available based on the amount of the investment.

The trust has a mandatory termination date of Dec. 15, 2032.

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