FT 3370 offers units from four Target portfolios, March 2012 series

By Tali David

Minneapolis, Feb. 29 - FT 3370 is offering units of its Dow Target 10 Portfolio, March 2012 Series; Target Focus Four Portfolio, March 2012 Series; Target Triad Portfolio, March 2012 Series; and Target VIP Portfolio, March 2012 Series, according to an S-6 amendment filed with the Securities and Exchange Commission.

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

Each trust seeks above-average total return.

The Dow Target 10 Strategy invests in stocks with high dividend yields. By selecting stocks with the highest dividend yields, the trust seeks to uncover stocks that may be out of favor or undervalued.

On Feb. 29, the initial date of deposit, $155,748 of contracts to purchase securities comprised the trust. The 15,732 units have an initial offering price of $10 and a net asset value of $9.68 each. The estimated net annual distribution per unit is $0.352.

The Target Focus Four Portfolio invests in the common stocks of companies that are selected by applying the Dow Target Dividend Strategy, the S&P Target SMid 60 Strategy, the Value Line Target 25 Strategy and the NYSE International Target 25 Strategy.

On Feb. 29, the initial date of deposit, $329,521 of contracts to purchase securities comprised the trust. The 33,285 units have an initial offering price of $10 and a net asset value of $9.686 each. The estimated net annual distribution per unit is $0.208.

The Target Triad Portfolio invests in the common stocks of companies that are selected by applying the NYSE International Target 25 Strategy, the Target Diversified Dividend Strategy and the Target Growth Strategy.

On Feb. 29, the initial date of deposit, $295,609 of contracts to purchase securities comprised the trust. The 29,859 units have an initial offering price of $10 and a net asset value of $9.683 each. The estimated net annual distribution per unit is $0.1744.

The Target VIP Portfolio invests in the common stocks of companies that are selected by applying the Dow DART 5 Strategy; the European Target 20 Strategy, the Nasdaq Target 15 Strategy, the S&P Target 24 Strategy, the Target Small-Cap Strategy and the Value Line Target 25 Strategy.

On Feb. 29, the initial date of deposit, $296,493 of contracts to purchase securities comprised the trust. The 29,949 units have an initial offering price of $10 and a net asset value of $9.683 each. The estimated net annual distribution per unit is $0.2073.

All units will each carry a maximum sales charge of 2.95%, consisting of a 1% initial sales charge, a 1.45% deferred sales charge and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 1.4% depending on the amount of investment.

The Dow Target 10 has a mandatory termination date March 28, 2013, while the rest will terminate on May 31, 2013.

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