Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for FT 3388 > News item |
FT 3388 offers units of its Balanced Income Portfolio, Series 32
By Tali David
Minneapolis, Feb. 13 - FT 3388 is offering units of its Balanced Income Portfolio, Series 32, 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 capital appreciation by investing in a diversified portfolio of common stocks of companies with above-average dividend yields and closed-end funds that invest in U.S. and foreign taxable bonds.
On Feb. 13, the initial date of deposit, $165,263 of contracts to purchase securities comprised the trust. The 16,693 units have an initial offering price of $10 and a net asset value of $9.476 each. The estimated net annual distribution per unit is $0.5045 for the first year and $0.4974 for subsequent years
The units will each carry a maximum sales charge of 4.95%, consisting of a 1% initial sales charge, a 3.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 2.05% depending on the amount of investment.
The trust has a mandatory termination date of Feb. 13, 2017.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.