FT 3284 invests in preferred stocks, trust preferred securities

By Toni Weeks

San Diego, Dec. 7 - FT 3284 has registered units of its Preferred Income Portfolio, Series 47, 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 income and invests in a diversified portfolio of preferred stocks and trust preferred securities.

On the Dec. 7 initial date of deposit, $167,619 of contracts to purchase securities comprises the trust. The 16,931 units have a public offering price of $10.00 and a net asset value of $9.576 each.

The units each carry a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, and 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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