First Trust Combined Series 374 offers Multi-Asset Income units

By Tali David

Minneapolis, March 8 - First Trust Combined Series 374 is offering units of its Investment Grade Multi-Asset Income Portfolio, Long Term Series, according to an S-6 filed with the Securities and Exchange Commission.

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

The trust seeks current income and capital preservation by investing in a professionally selected, fixed portfolio of investment-grade taxable municipal bonds and corporate debt obligations.

On the March 8 inception date, $14,536,212 in contracts to purchase securities comprised the portfolio. The 15,271 units have a public offering price $995.03 and have a net asset value of $951.88.

The estimated current return is 5.11%, and the estimated long-term return is 4.69%. The estimated annual net interest income is $50.84 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, according to the S-6.

The trust will have a mandatory termination date of May 15, 2042.

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