FT 3480 registers units of its four Target portfolios

By Toni Weeks

San Diego, March 5 - FT 3480 has registered units of its four portfolios, according to an S-6 amendment filed with the Securities and Exchange Commission.

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

The portfolios are the Dow Target 10 May 2012 - Term 6/7/13, the Target Focus 4 May 2012 - Term 8/9/13, the Target Triad May 2012 - Term 8/9/13 and the Target VIP May 2012 - Term 8/9/13.

Each trust will seek above-average total return by investing in a diversified portfolio of common stocks selected by applying a specialized strategy.

The Dow Target 10 Portfolio will invest in the 10 stocks in the Dow Jones Industrial Average with the highest dividend yields.

The Target Focus 4 seeks to outperform the S&P 500 Index and will invest in the common stocks of companies selected by applying four strategies: the Dow Target Dividend Strategy, the S&P Target SMid 60 Strategy and the Value Line Target 25 Strategy, each with a 30% weight, and the NYSE International Target 25 Strategy with a 10% weight.

The Target Triad Portfolio's stocks will be selected by applying three strategies, including the NYSE International Target 25 Strategy with a 10% weight, the Target Diversified Dividend Strategy with a 30% weight and the Target Growth Strategy with a 60% weight.

The Target VIP Strategy will select its stocks utilizing six separate equally weighted strategies, including the Dow DART 5 Strategy, the European Target 20 Strategy, the Nasdaq Target 15 Strategy, the S&P Target 24 Strategy, the Target Small-Cap Strategy and the Value Line Target 25 Strategy

Each unit will have a public offering price of $10. The net asset value will be $9.68 for the Dow Target 10, $9.686 for the Target Focus 4 and $9.683 for the Target Triad and Target VIP trusts.

The units will be subject to a maximum sales charge of 2.95%. The sales charge may be reduced on a sliding scale to 1.4% based on the amount of the investment.

The initial date of deposit is planned for April.

The Dow Target 10 Portfolio will have a mandatory termination date of June 7, 2013, and the remaining trusts will have a mandatory termination date of Aug. 9, 2013.

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