FT 3298 offers Municipal Income Opportunities Closed-End units

By Toni Weeks

San Diego, Dec. 8 - FT 3298 has registered units of its Municipal Income Opportunities Closed-End Portfolio, Series 7, 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, $177,666 of contracts to purchase securities comprised the trust. The 17,946 units have a public offering price of $10.00 and a net asset value of $9.676 each. The estimated net annual distribution per unit for the first year is $0.6073.

The units will carry a maximum sales charge of 2.95%, consisting of a 1% initial sales charge, a 1.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 1.4% depending on the amount of investment.

The trust will have a mandatory termination date of March 11, 2013.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.