FT 3179 registers series 28 Covered Call Select units

By Toni Weeks

San Diego, Oct. 28 - FT 3179 has registered units of its series 28 Covered Call Select Closed-End Portfolio, according to a form S-6 amendment filed with the Securities and Exchange Commission.

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

The trust seeks income and, to a lesser extent, capital appreciation by investing in a diversified portfolio of common stocks issued by closed-end investment companies that invest in common stocks subject to covered call options.

As of the initial date of deposit, Oct. 28, $176,566 in purchase contracts comprised the trust.

The public offering price of the initial 17,835 units is $10 apiece. Each unit has a maximum sales charge of 3.95%, consisting of an initial sales charge of 1%, deferred sales charge of 2.45% and a creation and development fee of 0.5%. The maximum fee for unit purchasers of $50,000 or more is 3.7% and decreases on a sliding scale to 2.45% for investments of $1 million or more.

The total net asset value is $9.576 per unit. The estimated net annual distribution per unit for the first year is $1.0288.

The trust has a mandatory termination date of Oct. 28, 2013.

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