FT 3513 offers Senior Loan & Limited Duration Closed-End units

By Tali David

Minneapolis, April 5 - FT 3513 is offering units of its Senior Loan & Limited Duration Closed-End Portfolio, Series 11, 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 income by investing in a diversified portfolio of common stocks of closed-end investment companies that invest in senior corporate loans and limited duration fixed-income securities.

On April 5, the initial date of deposit, $166,286 of contracts to purchase securities comprised the trust. The 16,797 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 $0.6841 for the first year and $0.6783 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 to 2.45%, depending on the amount of the investment.

The trust has a mandatory termination date of May 5, 2014.

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