FT 3396 offers Income Allocation Closed-End, April 2012 units

By Tali David

Minneapolis, April 2 - FT 3396 is offering units of its Income Allocation Closed-End, April 2012, 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 high current monthly income, with capital appreciation as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in U.S. and foreign equity securities, taxable bonds and secured senior floating rate corporate loans.

On March 30, the initial date of deposit, $124,621 of contracts to purchase securities comprised the trust. The 12,588 units have an initial offering price of $10 and a net asset value of $9.680 each.

The estimated net annual distribution is $0.7359 per unit.

The units each carry a maximum sales charge of 2.95%, which consists of a 1% initial sales charge, 1.45% deferred sales charge and a 0.5% creation and development fee. The sales charge may be reduced depending on the investment.

The trust has a mandatory termination date of July 9, 2013.

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