FT 3340 offers units of its Strategic Income Plus Closed-End Portfolio

By Tali David

Minneapolis, Jan. 12 - FT 3340 is offering units of its Strategic Income Plus Closed-End Portfolio, Series 37, 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 with capital appreciation as a secondary objective. It is comprised of a diversified pool of closed-end funds that invest in U.S. and foreign equity securities and taxable bonds.

On Jan. 12, the initial date of deposit, $163,741 of contracts to purchase securities comprised the trust. The 16,374 units have an initial offering price of $10 and a net asset value of $9.576 each. The estimated net annual distribution per unit is $0.8815 for the first year and $0.8692 for subsequent years.

Each unit will carry a maximum sales charge of 4.5%, consisting of a deferred sales charge of 4% and a creation and development fee of 0.5%. The sales charge will vary based on the public offering price; for $10 units during the initial offering period, the sales charge will be 3.95%. The maximum fee for unit purchasers decreases on a sliding scale to 2.45% depending on the amount invested.

The trust has a mandatory termination date of Jan. 13, 2014.

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