FT 3233 registers Covered Call Opportunities portfolio units

By Toni Weeks

San Diego, Nov. 10 - FT 3233 has registered units of its Series 7 Covered Call Opportunities Closed-End 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 seeks income and, to a lesser extent, capital appreciation by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in common stocks subject to covered call options.

On the Nov. 10 inception date, $155,239 of purchase contracts comprised the trust. The 15,681 units each have a public offering price of $10.00 and a net asset value of $9.676. The estimated net annual distribution per unit for the first year is $1.0714.

The units each carry a maximum sales charge of $0.295, consisting of an initial sales charge of $0.10, a deferred sales charge of $0.145 and a creation and development fee of $0.05. 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 trust has a mandatory termination date of Feb. 11, 2013.

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