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First Trust Combined Series 394 registers Tax Exempt Municipal units
By Toni Weeks
San Diego, Jan. 25 - First Trust Combined Series 394 has registered units of its Tax Exempt Municipal Income Trust, Series 275, according to an S-6 filing with the Securities and Exchange Commission.
The depositor is Wheaton, Ill.-based First Trust Portfolios LP.
The trust will seek income that is exempt from federal and applicable state and local income tax as well as 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.
The units will each carry a maximum sales charge of 3.95%. Investments of at least $100,000 will be eligible for a reduced sales charge, based on the amount of the investment.
The trust's inception date will be in February.
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