FT 3407 offers Bakken Shale Portfolio, Series 5 units

By Toni Weeks

San Diego, March 9 - FT 3407 is offering units of its Bakken Shale Portfolio, Series 5, 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 above-average capital appreciation, by investing in a diversified portfolio of common stocks issued by energy companies that are involved in the drilling and exploration of the Bakken Shale oil field.

On the March 9 initial date of deposit, $165,911 in contracts to purchase securities comprises the trust. The 16,759 units each have a public offering price of $10 and a net asset value of $9.574. The estimated net annual distribution per unit is $0.0856 for the first year and $0.0847 for subsequent years.

The units 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. The fee may be reduced on a sliding scale to 2.45% depending on the amount of investment.

The trust's mandatory termination date is March 10, 2014.

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