FT 3338 offers units of its MLP Closed-End Fund and Energy Portfolio

By Tali David

Minneapolis, Jan. 12 - FT 3338 is offering units of its MLP Closed-End Fund and Energy Portfolio, Series 15, 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 monthly income and the growth of principal by investing in about 50% in closed-end funds that invest in master limited partnerships from the energy infrastructure industry. About 50% of the portfolio invests in common stocks of energy companies.

On Jan. 12, the initial date of deposit, $145,281 of contracts to purchase securities comprised the trust. The 14,675 units have an initial offering price of $10 and a net asset value of $9.576 each. The estimated net annual distribution per unit for the first year is $0.4768.

Each unit will 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 has a mandatory termination date of Jan. 15, 2014.

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