FT 3225 targets senior loan, limited-duration securities investments

By Toni Weeks

San Diego, Oct. 26 - FT 3225 has registered units of its series 47 Senior Loan and Limited Duration Plus Closed-End Portfolio, according to a form S-6 amendment filed with the Securities and Exchange Commission.

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

The trust seeks high current income and invests in a diversified portfolio of common stocks issued by closed-end investment companies that invest in senior corporate loans and limited-duration securities.

On the initial date of deposit, Oct. 26, $179,713 of purchase contracts comprised the trust. The public offering price of the initial 17,971 units is $10 apiece. Each unit has a maximum sales charge of 4.5%, consisting of a deferred sales charge of 4% and a creation and development fee of 0.5%. The total net asset value is $9.576 per unit. The estimated net annual distribution per unit for the first year is $0.7404.

The trust has a mandatory termination date of Feb. 13, 2014.

The maximum fee for unit purchasers of $50,000 or more is 3.7% and decreases on a sliding scale to 2.45% for investments of $1 million or more.

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