FT 3322 offers units of Utilities Select Portfolio, Series 20

By Tali David

Minneapolis, Jan. 27 - FT 3322 is offering units of its Utilities Select Portfolio, Series 20, 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 monthly income and above-average capital appreciation by investing in a diversified portfolio of common stocks issued by electric and natural gas companies.

On Jan. 27, the initial date of deposit, $167,381 of contracts to purchase securities comprised the trust. The 16,907 units have an initial offering price of $10 and a net asset value of $9.576 each.

Each unit will carry a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, a 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 Jan. 27, 2014.

© 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.