FT 3476 offers Global Bond Income Closed-End Portfolio, Series 5 units

By Toni Weeks

San Diego, March 23 - FT 3476 is offering units of its Global Bond Income Closed-End Portfolio, Series 5, 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 a high rate of current monthly income with capital appreciation as a secondary objective by investing in a diversified portfolio of common stocks issued by closed-end investment companies, some of which invest in high-yield securities.

On March 23, the initial date of deposit, $166,935 of contracts to purchase securities comprised the trust. The 16,862 units have an initial offering price of $10 and a net asset value of $9.574 each. The estimated net annual distribution per units is $0.6317 for the first year and $0.6238 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 fee may be reduced on a sliding scale to 2.45% depending on the amount of investment.

The trust has a mandatory termination date of March 24, 2014.

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