FT 3463 offers High-Yield Income Closed-End Portfolio, Series 47 units

By Tali David

Minneapolis, March 7 - FT 3463 is offering units of its High-Yield Income Closed-End Portfolio, Series 47, according to an S-6 filing with the Securities and Exchange Commission.

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

The trust seeks a high rate of current monthly income, with capital appreciation as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies, all of which contain portfolios that are concentrated in high-yield securities.

On March 7, the initial date of deposit, $174,237 of contracts to purchase securities comprised the trust. The 17,600 units have an initial offering price of $10 and a net asset value of $9.574 each. The estimated net annual distribution per unit is $0.7726 for the first year and $0.7644 for subsequent years.

The units will each carry a maximum sales charge of 3.95%, consisting of a 1% initial sales charge, a 2.45% deferred sales charge and a 0.5% creation and development fee. Sales charge reductions of up to 2.45% of the public offering price are available based on the amount of the investment.

The trust has a mandatory termination date of March 6, 2014.

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