FT 3397 registers units from four Target portfolios

By Tali David

Minneapolis, Feb. 22 - FT 3397 has registered units of its Dow Target 10 April 2012, Target Focus 4 April 2012, Target Triad April and Target VIP April 2012, according to an S-6 filed with the Securities and Exchange Commission.

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

Each trust will seek above-average total return by investing in a diversified portfolio of common stocks selected by applying a specialized strategy.

The Dow Target 10 units will have an initial offering price of $10 and a net asset value of $9.680 each.

The Target Focus Four units will have an initial offering price of $10 and a net asset value of $9.686 each.

The Target Triad Portfolio units will have an initial offering price of $10 and a net asset value of $9.683 each.

The Target VIP Portfolio units will have an initial offering price of $10 and a net asset value of $9.683 each.

The units will each 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 trusts will have an initial date of deposit in April. The Dow Target 10 portfolio will have a termination date of May 9, 2013 and the rest will have a mandatory termination date of July 9, 2013.

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