FT 3178's portfolio targets above-average dividend yields

By Toni Weeks

San Diego, Oct. 19 - FT 3178 has registered units of its series 2 Richard Bernstein Advisors Quality Income Portfolio, 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 invests in a diversified portfolio of common stocks issued by companies that Richard Bernstein Advisors believes are quality companies with above-average dividend yields. The trust seeks total return through a combination of dividend income and capital appreciation.

The public offering price of the initial 16,743 units is $10 apiece. Each unit has an initial sales charge of $0.1, a deferred sales charge of $0.145 and a creation and development fee of $0.05 and an organization fee of $0.049, for a total net asset value of $9.656 per unit. The estimated net annual distribution per unit for the first year is $0.4382 per unit.

The inception date of the units is Oct. 24. The trust has a mandatory termination date of Jan. 22, 2013.

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