FT 3316 offers Richard Bernstein Advisors Quality Income units

By Tali David

Minneapolis, Jan. 13 - FT 3316 is offering units of its Richard Bernstein Advisors Quality Income Portfolio, Series 3, 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 total return through a combination of dividend income and capital appreciation by investing in a diversified portfolio of common stocks selected by Richard Bernstein Advisors.

On Jan. 13, the initial date of deposit, $158,062 of contracts to purchase securities comprised the trust. The 15,966 units have an initial offering price of $10 and a net asset value of $9.656 each. The estimated net annual distribution per unit is $0.3717.

The units will each carry a maximum sales charge of 2.95%, consisting of a 1% initial sales charge, a 1.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 1.4% depending on the amount of investment.

The trust has a mandatory termination date of April 15, 2013.

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