FT 3440 offers units of its Global Equity Income Closed-End Portfolio

By Tali David

Minneapolis, March 2 - FT 3440 is offering units of its Global Equity Income Closed-End Portfolio, Series 21, 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.

On March 2, the initial date of deposit, $170,472 of contracts to purchase securities comprised the trust. The 17,219 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 $0.9170 for the first year and $0.9080 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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