First Trust Combined Series 393 registers Build America Bond units

By Toni Weeks

San Diego, Jan. 25 - First Trust Combined Series 393 has registered units of its Build America Bonds Portfolio, Series 51, according to an S-6 filing with the Securities and Exchange Commission.

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

The trust will seek to distribute income and preserve capital by investing in a fixed portfolio of investment-grade taxable municipal bonds, according to the filing. Under normal circumstances, at least 80% of the trust's portfolio will consist of bonds issued under the Build America Bond provision of the American Recovery and Reinvestment Act of 2009, but the trust may also invest in other taxable municipal bonds.

The units will each carry a maximum sales charge of 3.95%. Investments of at least $100,000 will be eligible for a reduced sales charge, based on the amount of the investment.

The trust's inception date is planned for February.

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