FT 3320 registers units of five Dow Target, Target portfolios

By Tali David

Minneapolis, Jan. 24 - FT 3320 has registered units of its Dow Target 10, Dow Target Dividend, Target Focus Four, Target Triad and Target VIP portfolios, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Wheaton, Ill.-based First Trust Portfolios LP.

The Dow Target 10 trust will seek above-average total return by investing in stocks with high dividend yields.

The units will have a public offering price of $10 and a net asset value of $9.680 each.

The Dow Target Dividend portfolio will seek above-average total return by selecting a portfolio of the 20 stocks from the Dow Jones U.S. Select Dividend Index with the best overall ranking on both the change in return on assets over the last 12 months and price-to-book.

The units will have a public offering price of $10 and a net asset value of $9.670 each.

The Target Focus Four trust will seek above-average total return by investing in the common stocks of companies, which are selected by applying four separate specialized strategies.

The units will have a public offering price of $10 and a net asset value of $9.686 each.

The Target Triad trust will seek above-average total return by investing in the common stocks of companies, which are selected by applying three separate specialized strategies.

The units will have a public offering price of $10 and a net asset value of $9.683 each.

The Target VIP trust will seek above-average total return by investing in the common stocks of companies, which are selected by applying six separate specialized strategies.

The units will have a public offering price of $10 and a net asset value of $9.683 each.

Each of the units carries 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. A sales charge discount is available for investments of at least $50,000, with the minimum sales charge set at 1.4% for investments of at least $1 million.

The initial date of deposit is planned for January. The Dow Target 10 trust will have a mandatory termination date of Feb. 28, 2013, and the rest have a mandatory termination date of April 30, 2013.

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