FT 3514 registers Municipal Advantage Closed-End, ETF Portfolio units

By Toni Weeks

San Diego, March 23 - FT 3514 has registered units of its Municipal Advantage Closed-End and ETF Portfolio, Series 12, according to an S-6 filed with the Securities and Exchange Commission.

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

The trust will seek monthly income that is exempt from federal income taxes by investing in a diversified portfolio of common stocks of closed-end investment companies and common stocks issued by exchange-traded funds.

The $10 units will have a net asset value of $9.574 per unit. They will be subject to a maximum sales charge of 3.95%, consisting of a 1% initial sales charge, a 2.5% deferred sales charge and a 0.5% creation and development fee. A sales charge discount is available for investments of at least $50,000.

The initial date of deposit is planned for April, and the mandatory termination date will be April 24, 2014.

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