FT 3209 registers Income Allocation Closed-End Portfolio units

By Toni Weeks

San Diego, Nov. 30 - FT 3209 has registered units of its Income Allocation Closed-End Portfolio, December 2011 Series, 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 high 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 equity securities, taxable bonds and secured senior floating-rate corporate loans.

On the initial date of deposit, Nov. 30, the portfolio consisted of $175,302 in initial purchase contracts, comprising 17,707 units, each offered at $10.00 and with a net asset value of $9.68. The estimated net annual distribution for the first year is $0.8411 per unit.

The maximum sales charge for each portfolio unit is 2.95%, which consists 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 the sales charge decreases on a sliding scale to 1.4% for investments of $1 million or more.

The trust has a mandatory termination date of Feb. 28, 2013.

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