FT 3402 offers units of its Canadian Energy and Income Portfolio

By Tali David

Minneapolis, March 2 - FT 3402 is offering units of its Canadian Energy and Income Portfolio, Series 25, 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 growth of principal by investing in energy company stocks whose principal business is the acquisition, exploration, development and production of oil and natural gas.

On March 2, the initial date of deposit, $149,703 of contracts to purchase securities comprised the trust. The 15,122 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 $0.4429 for the first year and $0.4386 for subsequent years.

The units will each carry a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, a deferred sales charge of 2.45% and a creation and development fee of 0.5%. 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 March 4, 2014.

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