FT 3241 registers series 35 Strategic Income Plus Portfolio units

By Toni Weeks

San Diego, Oct. 26 - FT 3241 has registered units of its series 35 Strategic Income Plus Closed-End 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 a high rate of current monthly income with capital appreciation as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in U.S. and foreign common stocks and taxable bonds.

As of the initial date of deposit, Oct. 26, $172,796 in purchase contracts comprised the trust.

The public offering price of the initial 17,280 units is $10 apiece. Each unit has a maximum sales charge of 4.5%, consisting of a deferred sales charge of 4% and a creation and development fee of 0.5%. The total net asset value is $9.576 per unit. The estimated net annual distribution per unit for the first year is $0.8965.

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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