FT 3348 offers units of its Mega-Cap Portfolio, Series 22

By Toni Weeks

San Diego, Feb. 8 - FT 3348 is offering units of its Mega-Cap Portfolio, Series 22, 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 above-average capital appreciation by investing in a diversified portfolio of common stocks of some of the largest companies in the world. These companies are well-known, blue-chip companies that are widely regarded as leaders in their respective industries and have the potential to provide a greater degree of stability and consistent performance to their stockholders.

On the initial date of deposit, Feb. 8, the trust consists of $168,276 in contracts to purchase securities. The 16,998 units each have an initial public offering price of $10 and a net asset value of $9.576. The estimated net annual distribution per unit is $0.2118 for the first year and $0.2096 for subsequent years.

Each unit carries a maximum sales charge of 3.95%, consisting of a 1% initial sales charge, a 2.45% deferred sales charge and a 0.5% creation and development fee. Sales fee reductions for investments of $50,000 or more are available on a sliding scale to 2.45% based on the amount of the investment.

The trust has a mandatory termination date of Feb. 6, 2014.

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