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FT 3203 registers Dorsey Wright Relative Strength Dividend units
By Toni Weeks
San Diego, Nov. 7 - FT 3203 has registered units of its Series 3 Dorsey Wright Relative Strength Dividend 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 seeks above-average total return through a combination of capital appreciation by investing in a diversified portfolio of common stocks. Dorsey, Wright & Associates, the portfolio consultant, uses technical analysis, in particular, the law of supply and demand, to select the stocks making up the portfolio.
As of the initial date of deposit, Nov. 4, $164,293 in purchase contracts comprised the trust.
The public offering price of the initial 16,595 units is $10.00 apiece. Each unit has a maximum sales charge of 2.95%, consisting of an initial sales charge of 1%, deferred sales charge of 1.45% and a creation and development fee of 0.5%. The maximum fee for unit purchasers of $50,000 or more is 2.7% and decreases on a sliding scale to 1.4% for investments of $1 million or more.
The total net asset value is $9.656 per unit. The estimated net annual distribution per unit for the first year is $0.3612.
The trust has a mandatory termination date of Feb. 4, 2013.
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