First Trust Combined Series 389 registers units

By Toni Weeks

San Diego, Nov. 30 - First Trust Combined Series 389 has registered units of its Tax Exempt Municipal Income Trust, Series 273, 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 income that is exempt from federal and applicable state and local income tax and preservation of capital by investing in a portfolio of tax-exempt municipal bonds issued by or on behalf of U.S. states or territories.

The units will each carry a maximum sales charge of 3.95%. Investors investing $100,000 or more will be eligible for a reduced sales charge, the amount of which depends on the level of investment.

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