FT 3389 offers High Dividend Emerging Markets Equity Portfolio units

By Tali David

Minneapolis, Feb. 15 - FT 3389 is offering units of its High Dividend Emerging Markets Equity Portfolio, Series 2, 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 total return through a combination of capital appreciation and dividend income by investing in a diversified portfolio of common stocks of companies, the majority of which are based in an emerging market.

On Feb. 15, the initial date of deposit, $175,414 of contracts to purchase securities comprised the trust. The 17,719 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 $0.4429 for the first year and $0.4382 for subsequent years.

The units will each carry 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. The fee may be reduced on a sliding scale to 2.45% depending on the amount of investment.

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

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