FT 3212 registers Strategic Income Opportunities Closed-End units

By Toni Weeks

San Diego, Nov. 15 - FT 3212 has registered units of its Strategic Income Opportunities Closed-End Portfolio, Series 7, 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 a high rate of current monthly income with capital appreciation as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in U.S. and foreign common stocks and taxable bonds, including high-yield securities.

On the initial date of deposit, Nov. 14, the trust was comprised of $177,760 in contracts to purchase securities. The 17,956 units each have a public offering price of $10 and a net asset value of $9.676. The estimated net annual distribution per unit for the first year is $0.8427.

Each unit carries a maximum sales charge of 2.95%, consisting of an initial sales charge of 1%, a deferred sales charge of 1.45% and a creation and development fee of 0.5%. The maximum fee for unit purchasers of $50,000 or more is 2.7% and decreases on a sliding scale to 1.4% for investments of $1 million or more.

The trust has a mandatory termination date of Feb. 14, 2013.

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