FT 3248 invests in Canadian oil and natural gas companies

By Toni Weeks

San Diego, Dec. 7 - FT 3248 has registered units of its Canadian Energy and Income Portfolio, Series 24, 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 and growth of principal and invests in Canadian energy company stocks whose principal business is the acquisition, exploration, development and production of oil and natural gas.

On the Dec. 7 initial date of deposit, $178,082 of contracts to purchase securities comprised the trust. The 17,988 units have a public offering price of $10.00 and a net asset value of $9.576 each. The estimated net annual distribution per unit for the first year is $0.4707.

The units each carry a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, a deferred sales charge of 2.45% and a creation and development fee of 0.5%. 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. 9, 2013.

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