First Trust Combined Series 395 offers Build America Bonds units

By Tali David

Minneapolis, Feb. 21 - First Trust Combined Series 395 is offering units of its Build America Bonds Portfolio, Series 52, 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 to distribute income and to preserve capital by investing primarily in a professionally selected, fixed portfolio of investment-grade taxable municipal bonds issued under the Build America Bond provision of the American Recovery and Reinvestment Act of 2009.

On the Feb. 21 inception date, $16,450,552 in contracts to purchase securities comprised the portfolio. The 17,280 units will be priced at $995.15 and will have a net asset value of $952.00.

The estimated current return is 5.23%, and the estimated long-term return is 4.55%. The estimated annual net interest income is $52.02 per unit.

All units each carry a maximum sales fee of 3.95%. Sales charge reductions of up to $21 per unit are available based on the amount of the investment, according to the S-6.

The trust's termination date is Aug. 15, 2042.

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