FT 3385 registers Value Opportunity and Income Closed-End units

By Toni Weeks

San Diego, Jan. 13 - FT 3385 has registered units of its Value Opportunity and Income Closed-End Portfolio Series, according to an S-6 filing with the Securities and Exchange Commission.

The depositor is Wheaton, Ill.-based First Trust Portfolios LP.

The trust will seek current income with total return as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies.

The units will have a public offering price of $10 and a net asset value of $9.576 each. 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, will apply. A sales charge discount is available for investments of at least $50,000, with the minimum sales charge set at 2.45% for investments of at least $1 million.

The initial date of deposit is planned for February. The trust will have a mandatory termination date of Feb. 3, 2014.

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