FT 3289 eyes end-of-year tax-loss selling pressure to select portfolio

By Toni Weeks

San Diego, Dec. 8 - FT 3289 has registered units of its January Effect Plus Portfolio Series, 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 issued by closed-end investment companies that invest in U.S. and foreign common stocks and taxable bonds, including high-yield securities. The portfolio will focus on closed-end funds that may benefit once tax-loss selling pressures abate after the end of the year.

On Dec. 8, the initial date of deposit, $165,082 of contracts to purchase securities comprised the trust. The 16,508 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 $0.8578.

The units will carry a maximum sales charge of up to 4.5%, consisting of a 0.5% creation and development fee and a deferred sales charge of up to 4%. The fee may be reduced on a sliding scale to 2.45% depending on the amount of investment. The deferred sales charge is a fixed dollar amount equal to $0.345 per unit.

The trust will have a mandatory termination date of Jan. 29, 2014.

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