FT 3450 offers Covered Call Select Closed-End, Series 30, units

By Tali David

Minneapolis, April 9 - FT 3450 is offering units of its Covered Call Select Closed-End Portfolio, Series 30, 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 income, and to a lesser extent, capital appreciation by investing in common stocks issued by closed-end investment companies that invest in a diversified portfolio of common stocks subject to covered call options.

On April 9, the initial date of deposit, $170,530 of contracts to purchase securities comprised the trust. The 17,225 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 $0.9306 for the first year and $0.9208 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. The sales charge may be reduced to 2.45%, depending on the amount of the investment.

The trust has a mandatory termination date of April 9, 2014.

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