FT 3294 registers Municipal Income Plus Closed-End units

By Toni Weeks

San Diego, Dec. 8 - FT 3294 has registered units of its Municipal Income Plus Closed-End Portfolio, Series 22, 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 federally tax-exempt monthly income by investing in a diversified portfolio of common stocks issued by closed-end investment companies, the portfolios of which are concentrated in tax-exempt municipal bonds.

On Dec. 8, the initial date of deposit, $165,365 of contracts to purchase securities comprised the trust. The 16,537 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 $0.6043.

The units will carry a maximum sales charge of 3.95%, consisting of a 3.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 2.45% depending on the amount of investment.

The trust will have a mandatory termination date of Dec. 9, 2013.

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