FT 3272 registers Senior Loan/Limited Duration Plus Closed-End units

By Toni Weeks

San Diego, Nov. 22 - FT 3272 has registered units of its Senior Loan and Limited Duration Plus Closed-End Portfolio, Series 48, 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 income by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in senior corporate loans and limited-duration fixed-income securities.

On the Nov. 22 initial date of deposit, $178,972 of contracts to purchase securities comprised the trust. The 17,897 units have an 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 $0.7464.

Each unit will carry a maximum sales charge of 4%, consisting of a creation and development fee of 0.5% and a deferred sales charge, which will be 3.45% for units priced at $10.00. If the unit price exceeds $10.00, the deferred sales charge will be less than 3.45%; if it is less than $10.00 per unit, the deferred sales charge will exceed 3.45%, with a cap of 4% of the public offering price. 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 March 3, 2014.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.