FT 3195 to offer closed-end portfolio units via First Trust Portfolios

By Toni Weeks

San Diego, Oct. 18 - FT 3195 has registered its series 7 Municipal Income Opportunities Closed-End Portfolio units, 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 invests in a diversified portfolio of common stocks concentrated in BlackRock, Nuveen and Invesco tax-exempt municipal bonds.

The public offering price of the initial 17,661 units is $10 apiece. Each unit has an initial sales charge of $0.1, a deferred sales charge of $0.145, a creation and development fee of $0.05 and an organization cost of $0.029, for a total net asset value of $9.676 per unit. The estimated net annual distribution per unit for the first year is $0.568.

The trust has a mandatory termination date of Jan. 22, 2013.

The maximum fee for unit purchasers of $50,000 or more is 2.7% and decreases on a sliding scale to 1.4% for investments of $1 million or more.

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