FT 3246 offers Multi-Sector Income Portfolio units

By Toni Weeks

San Diego, Dec. 1 - FT 3246 has registered units of its Multi-Sector Income Portfolio, Series 6, 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 a high rate of current monthly income and capital appreciation by investing in a diversified portfolio of dividend-paying common stocks, including those of real estate investment trusts and closed-end investment companies.

On the Dec. 1 initial date of deposit, $172,463 of contracts to purchase securities comprised the trust. The 17,420 units have an offering price of $10.00 each and a net asset value of $9.676 each. The estimated net annual distribution per unit for the first year is $0.6370.

The units each carry a maximum sales charge of 2.95%, consisting of an initial sales charge of 1%, a 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 trust will have a mandatory termination date of March 4, 2013.

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