FT 3290 registers Insured Municipal Income Select units

By Toni Weeks

San Diego, Dec. 1 - FT 3290 has registered units of its Insured Municipal Income Select, Closed-End Portfolio, Series 34, 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 federally tax-exempt monthly income by investing in a diversified portfolio of common stocks issued by closed-end investment companies.

On the Dec. 1 initial date of deposit, $171,555 of contracts to purchase securities comprised the trust. The 17,329 units have an offering price of $10.00 each and a net asset value of $9.576 each. The estimated net annual distribution per unit for the first year is $0.5582.

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. 2, 2013.

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