FT 3264 registers Tactical Income Portfolio units

By Toni Weeks

San Diego, Dec. 7 - FT 3264 has registered units of its Tactical Income Portfolio, Series 11, 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 current income with total return as a secondary objective by investing in a diversified portfolio of common stocks and closed-end funds that invest in senior loan floating-rate securities and multi-strategy securities. The portfolio will allocate 25% of its assets in multi-strategy closed-end funds, 25% in senior loan closed-end funds and 50% in a combination of dividend-paying stocks and real estate investment trusts.

On the Dec. 7 initial date of deposit, $178,152 of contracts to purchase securities comprised the trust. The 17,995 units have a public offering price of $10.00 and a net asset value of $9.576 each. The estimated net annual distribution per unit for the first year is $0.6735.

The units each carry a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, a deferred sales charge of 2.45% and a creation and development fee of 0.5%. 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.

The trust will have a mandatory termination date of Dec. 9, 2013.

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