FT 3277 offers units from five Target portfolios

By Tali David

Minneapolis, Dec. 30 - FT 3277 is offering units of its Dow Target 10 January 2012, Dow Target Dividend January 2012, Target Focus Four January 2012, Target Triad January 2012 and Target VIP January 2012 portfolios, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Wheaton, Ill.-based First Trust Portfolios LP.

The Dow Target 10 portfolio invests in stocks with high dividend yields. By selecting stocks with the highest dividend yields, the trust seeks to uncover stocks that may be out of favor or undervalued.

On Dec. 30, the initial date of deposit, $168,698 of contracts to purchase securities comprised the trust. The 17,040 units have an initial offering price of $10 and a net asset value of $9.680 each.

Each unit will 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 has a mandatory termination date of Jan. 31, 2013.

The Dow Target Dividend Strategy selects a portfolio of the 20 stocks from the Dow Jones U.S. Select Dividend Index with the best overall ranking on both the change in return on assets over the last 12 months and price-to-book.

On Dec. 30, the initial date of deposit, $171,843 of contracts to purchase securities comprised the trust. The 17,358 units have an initial offering price of $10 and a net asset value of $9.670 each.

Each unit will 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 has a mandatory termination date of March 28, 2013.

The Target Focus Four Portfolio seeks above-average total return by investing in the common stocks of companies, which are selected by applying four separate uniquely specialized strategies.

On Dec. 30, the initial date of deposit, $216,663 of contracts to purchase securities comprised the trust. The 21,885 units have an initial offering price of $10 and a net asset value of $9.686 each.

Each unit will 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 has a mandatory termination date of March 28, 2013.

The Target Triad Portfolio seeks above-average return by investing in the common stocks of companies, using three different strategies.

On Dec. 30, the initial date of deposit, $283,834 of contracts to purchase securities comprised the trust. The 28,670 units have an initial offering price of $10 and a net asset value of $9.683 each.

Each unit will 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 has a mandatory termination date of March 28, 2013.

The Target VIP Portfolio seeks to outperform the S&P 500 Index by investing in the common stocks of companies, using six different strategies.

On Dec. 30, the initial date of deposit, $409,155 of contracts to purchase securities comprised the Target VIP Portfolio. The 41,329 units have an initial offering price of $10 and a net asset value of $9.683 each.

Each unit will 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 has a mandatory termination date of March 28, 2013.

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