FT 3247 registers SMid High Dividend Portfolio units

By Toni Weeks

San Diego, Nov. 7 - FT 3247 has completed the initial registration of its Series 3 SMid High Dividend Portfolio units, 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 above-average total return through a combination of capital appreciation and dividend income by investing in a diversified portfolio of common stocks.

The units will have a public offering price of $10.00 and a net asset value of $9.576 each. The initial date of deposit will be in December 2011.

The units each will carry a maximum sales charge of $0.395, consisting of an initial sales charge of $0.1, a deferred sales charge of $0.245 and a creation and development fee of $0.05. 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.

The trust will have a mandatory termination date of Dec. 2, 2013.

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