FT 3197 invests in stocks, MLPs from energy infrastructure industry

By Toni Weeks

San Diego, Oct. 26 - FT 3197 has registered units of its series 13 MLP Closed-End fund and Energy Portfolio, 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 of energy companies and closed-end funds that invest in master limited partnerships from the energy infrastructure industry.

As of the Oct. 26 initial date of deposit, the trust is comprised of $168,121 of purchase contracts. The public offering price of the initial 16,982 units is $10 apiece.

Each unit has a maximum sales charge of 3.95%, consisting of an initial sales charge of $0.1, a deferred sales charge of $0.245 and a creation and development fee of $0.05. The total net asset value is $9.576 per unit. The estimated net annual distribution per unit for the first year is $0.4967.

The trust has a mandatory termination date of Oct. 28, 2013.

The maximum fee for unit purchasers of $50,000 or more is 3.7% and decreases on a sliding scale to 2.45% for investments of $1 million or more.

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