First Trust Combined Series 388 registers Build America Bonds units

By Toni Weeks

San Diego, Nov. 21 - First Trust Combined Series 388 has registered units of its Build America Bonds Portfolio, Series 47, according to an S-6 filed with the Securities and Exchange Commission.

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

The trust seeks to distribute income and preserve capital by investing primarily in a fixed portfolio of investment-grade taxable municipal bonds issued under the Build America Bond provision of the American Recovery and Reinvestment Act of 2009.

The units will each carry a maximum sales charge of 3.95%. Investors investing $100,000 or more will be eligible for a reduced sales charge, the amount of which depends on the level of investment.

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