FT 3413 offers units of its Corporate High Income Portfolio

By Toni Weeks

San Diego, Feb. 23 - FT 3413 is offering units of its Corporate High Income Portfolio, Series 3, 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 to distribute high current monthly income and to preserve capital by investing in a portfolio of interest-bearing corporate debt obligations.

On the Feb. 23 initial date of deposit $13,015,021 in contracts to purchase underlying securities comprises the trust. The 13,545 units each have a public offering price of $995.08, of which $888.96 represents the principal amount of securities per unit, and a net asset value of $960.87. The estimated net annual interest income per unit is $55.17. The estimated current return is 5.54%, and the estimated long-term return is 3.98%.

The units have a maximum sales charge of 2.95%, with sales charge reductions available for investments of at least $100,000.

The weighted average maturity of the securities in the trust is 5.68 years.

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