FT 3192 registers municipal income closed-end portfolio units

By Toni Weeks

San Diego, Oct. 6 - FT 3192 has registered its series 6 Municipal Income Opportunities Closed-End Portfolio units, according to a form 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 closed-end investment companies, the portfolios of which are concentrated in tax-exempt municipal bonds, and seeks federally tax-exempt income.

The public offering price of the initial 17,393 units is $10 apiece. Each unit has an initial sales charge of $0.1, a deferred sales charge of $0.145, a creation and development fee of $0.05 and an organization fee of $0.029, for a total net asset value of $9.676 per unit. The estimated net annual distribution per unit for the first year is $0.6654 per unit.

The inception date of the units is Oct. 6. The trust has a mandatory termination date of Jan. 15, 2013.

The maximum fee for unit purchases of $50,000 or more is 2.7% for investments of $50,000 to less than $100,000 and decreases on a sliding scale to 1.4% for investments of $1 million of more.

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