FT 3399 offers units of its Aggressive Preferred Securities Portfolio

By Tali David

Minneapolis, March 13 - FT 3399 is offering units of its Aggressive Preferred Securities Portfolio, Series 12, according to an S-6 filing with the Securities and Exchange Commission.

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

The trust seeks a high rate of current income by investing in a portfolio of preferred stocks and trust-preferred securities.

On March 13, the initial date of deposit, $177,228 of contracts to purchase securities comprised the trust. The 17,902 units have an initial offering price of $10 and a net asset value of $9.574 each. The estimated net annual distribution per unit is $0.6392 for the first year and $0.6325 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 sales charge may be reduced on a sliding scale to 2.45% depending on the amount of the investment.

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

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