SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-6
For Registration Under the Securities Act of 1933 of Securities
of Unit Investment Trusts Registered on Form N-8B-2
A. Exact Name of Trust: FT 1483
B. Name of Depositor: FIRST TRUST PORTFOLIOS L.P.
C. Complete Address of Depositor's 1001 Warrenville Road
Principal Executive Offices: Lisle, Illinois 60532
D. Name and Complete Address of
Agents for Service: FIRST TRUST PORTFOLIOS L.P.
Attention: James A. Bowen
Suite 300
1001 Warrenville Road
Lisle, Illinois 60532
CHAPMAN & CUTLER LLP
Attention: Eric F. Fess
111 West Monroe Street
Chicago, Illinois 60603
E. Title of Securities
Being Registered: An indefinite number of
Units pursuant to Rule
24f-2 promulgated under
the Investment Company Act
of 1940, as amended.
F. Approximate Date of Proposed
Sale to the Public: ____ Check if it is
proposed that this filing
will become effective on
_____ at ____ p.m.
pursuant to Rule 487.
The registrant hereby amends this Registration Statement on
such date or dates as may be necessary to delay its effective
date until the registrant shall file a further amendment which
specifically states that this Registration Statement shall
thereafter become effective in accordance with Section 8(a) of
the Securities Act of 1933 or until the Registration Statement
shall become effective on such date as the Commission, acting
pursuant to said Section 8(a), may determine.
SUBJECT TO COMPLETION DATED JULY 3, 2007
Global Agriculture Portfolio Series
Nuclear Energy Portfolio Series
FT 1483
FT 1483 is a series of a unit investment trust, the FT Series. FT 1483
consists of two separate portfolios listed above (each, a "Trust," and
collectively, the "Trusts"). Each Trust invests in a diversified
portfolio of common stocks ("Securities") issued by companies in the
industry sector or investment focus for which each Trust is named. The
objective of each Trust is to provide the potential for above-average
capital appreciation.
THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED OR DISAPPROVED
OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED.
WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS
PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IS NOT
SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER
OR SALE IS NOT PERMITTED.
FIRST TRUST (R)
1-800-621-1675
The date of this prospectus is July __, 2007
Page 1
Table of Contents
Summary of Essential Information 3
Fee Table 4
Report of Registered Independent Public Accounting Firm 5
Statements of Net Assets 6
Schedules of Investments 7
The FT Series 10
Portfolios 10
Risk Factors 12
Public Offering 13
Distribution of Units 16
The Sponsor's Profits 17
The Secondary Market 17
How We Purchase Units 17
Expenses and Charges 19
Tax Status 18
Retirement Plans 20
Rights of Unit Holders 20
Income and Capital Distributions 21
Redeeming Your Units 22
Removing Securities from a Trust 23
Amending or Terminating the Indenture 23
Information on the Sponsor, Trustee,
FTPS Unit Servicing Agent and Evaluator 24
Other Information 25
Page 2
Summary of Essential Information
FT 1483
At the Opening of Business on the Initial Date of Deposit-July __, 2007
Sponsor: First Trust Portfolios L.P.
Trustee: The Bank of New York
FTPS Unit Servicing Agent: FTP Services LLC
Evaluator: First Trust Advisors L.P.
Global Agriculture Nuclear Energy
Portfolio Portfolio
Series Series
_________ _________
Initial Number of Units (1)
Fractional Undivided Interest in the Trust per Unit (1) 1/ 1/
Public Offering Price:
Public Offering Price per Unit (2) $10.000 $10.000
Less Initial Sales Charge per Unit (3) (.100) (.100)
___________ ___________
Aggregate Offering Price Evaluation of Securities per Unit (4) 9.900 9.900
Less Deferred Sales Charge per Unit (3) (.245) (.245)
___________ ___________
Redemption Price per Unit (5) 9.655 9.655
Less Creation and Development Fee per Unit (3)(5) (.050) (.050)
Less Organization Costs per Unit (5) (.029) (.029)
___________ ___________
Net Asset Value per Unit $ 9.576 $ 9.576
=========== ===========
Estimated Net Annual Distribution per Unit for the first year (6) $ $
Cash CUSIP Number
Reinvestment CUSIP Number
Fee Accounts Cash CUSIP Number
Fee Accounts Reinvestment CUSIP Number
FTPS CUSIP Number
Security Code
Ticker Symbol
First Settlement Date July __, 2007
Mandatory Termination Date (7) July 10, 2009
Distribution Record Date Fifteenth day of each month, commencing August 15, 2007.
Distribution Date (6) Last day of each month, commencing August 31, 2007.
_____________
<FN>
(1) As of the close of business on the Initial Date of Deposit, we may
adjust the number of Units of a Trust so that the Public Offering Price
per Unit will equal approximately $10.00. If we make such an adjustment,
the fractional undivided interest per Unit will vary from the amounts
indicated above.
(2) The Public Offering Price shown above reflects the value of the
Securities on the business day prior to the Initial Date of Deposit. No
investor will purchase Units at this price. The price you pay for your
Units will be based on their valuation at the Evaluation Time on the
date you purchase your Units. On the Initial Date of Deposit, the Public
Offering Price per Unit will not include any accumulated dividends on
the Securities. After this date, a pro rata share of any accumulated
dividends on the Securities will be included.
(3) You will pay a maximum sales charge of 3.95% of the Public Offering
Price per Unit (equivalent to 3.99% of the net amount invested) which
consists of an initial sales charge, a deferred sales charge and a
creation and development fee. The sales charges are described in the
"Fee Table."
(4) Each listed Security is valued at its last closing sale price. If a
Security is not listed, or if no closing sale price exists, it is valued
at its closing ask price. Evaluations for purposes of determining the
purchase, sale or redemption price of Units are made as of the close of
trading on the New York Stock Exchange ("NYSE") (generally 4:00 p.m.
Eastern time) on each day on which it is open (the "Evaluation Time").
(5) The creation and development fee will be deducted from the assets of
a Trust at the end of the initial offering period and the estimated
organization costs per Unit will be deducted from the assets of a Trust
at the earlier of six months after the Initial Date of Deposit or the
end of the initial offering period. If Units are redeemed prior to any
such reduction, these fees will not be deducted from the redemption
proceeds. See "Redeeming Your Units."
(6) The estimated net annual distributions for subsequent years for
Global Agriculture Portfolio Series and Nuclear Energy Portfolio Series,
$ and $ , respectively, are expected to be less than the amounts
for the first year because a portion of the Securities included in each
Trust will be sold during the first year to pay for organization costs,
the deferred sales charge and the creation and development fee. We base
our estimate of the dividends a Trust will receive from the Securities
by annualizing the most recent dividends declared by the issuers of the
Securities. There is no guarantee that the issuers of the Securities
will declare dividends in the future or that if declared they will
either remain at current levels or increase over time. Due to this, and
various other factors, actual dividends received from the Securities may
be less than their most recent annualized dividends. In this case, the
actual net annual distribution you receive will be less than the
estimated amount set forth above. The actual net annual distribution per
Unit you receive will also vary from that set forth above with changes
in a Trust's fees and expenses and with the sale of Securities. See "Fee
Table" and "Expenses and Charges." The Trustee will distribute money
from the Income and Capital Accounts, as determined at the monthly
Record Date, monthly on the last day of each month to Unit holders of
record on the fifteenth day of such month provided the aggregate amount,
exclusive of sale proceeds, in the Income and Capital Accounts available
for distribution equals at least 0.1% of the net asset value of a Trust.
Undistributed money in the Income and Capital Accounts will be
distributed in the next month in which the aggregate amount available
for distribution, exclusive of sale proceeds, equals or exceeds 0.1% of
the net asset value of a Trust. Distributions of sale proceeds from the
Capital Account will be made monthly on the last day of the month to
Unit holders of record on the fifteenth day of such month if the amount
available for distribution equals at least $1.00 per 100 Units. See
"Income and Capital Distributions."
(7) See "Amending or Terminating the Indenture."
</FN>
Page 3
Fee Table
This Fee Table describes the fees and expenses that you may, directly or
indirectly, pay if you buy and hold Units of a Trust. See "Public
Offering" and "Expenses and Charges." Although each Trust has a term of
approximately two years, and each is a unit investment trust rather than
a mutual fund, this information allows you to compare fees.
Amount
per Unit
_____
Unit Holder Sales Fees (as a percentage of public offering price)
Maximum Sales Charge
Initial sales charge 1.00%(a) $.100
Deferred sales charge 2.45%(b) $.245
Creation and development fee 0.50%(c) $.050
_______ _______
Maximum Sales Charge (including creation and development fee) 3.95% $.395
======= =======
Organization Costs (as a percentage of public offering price)
Estimated organization costs .290%(d) $.0290
======= =======
Estimated Annual Trust Operating Expenses(e)
(as a percentage of average net assets)
Portfolio supervision, bookkeeping, administrative, evaluation
and FTPS Unit servicing fees % $
Trustee's fee and other operating expenses %(f) $
_______ _______
Total % $
======= =======
Example
This example is intended to help you compare the cost of investing in a
Trust with the cost of investing in other investment products. The
example assumes that you invest $10,000 in a Trust for the periods shown
and sell your Units at the end of those periods. The example also
assumes a 5% return on your investment each year and that a Trust's
operating expenses stay the same. The example does not take into
consideration transaction fees which may be charged by certain
broker/dealers for processing redemption requests. Although your actual
costs may vary, based on these assumptions your costs, assuming you held
your Units for the periods shown, would be:
1 Year 2 Years
__________ __________
$ $
The example will not differ if you hold rather than sell your Units at
the end of each period.
_____________
<FN>
(a) The combination of the initial and deferred sales charge comprises
what we refer to as the "transactional sales charge." The initial sales
charge is actually equal to the difference between the maximum sales
charge of 3.95% and the sum of any remaining deferred sales charge and
creation and development fee.
(b) The deferred sales charge is a fixed dollar amount equal to $.245
per Unit which, as a percentage of the Public Offering Price, will vary
over time. The deferred sales charge will be deducted in three monthly
installments commencing October 19, 2007.
(c) The creation and development fee compensates the Sponsor for creating
and developing the Trusts. The creation and development fee is a charge
of $.050 per Unit collected at the end of the initial offering period
which is expected to be approximately three months from the Initial Date
of Deposit. If the price you pay for your Units exceeds $10 per Unit,
the creation and development fee will be less than 0.50%; if the price
you pay for your Units is less than $10 per Unit, the creation and
development fee will exceed 0.50%.
(d) Estimated organization costs will be deducted from the assets of a
Trust at the earlier of six months after the Initial Date of Deposit or
the end of the initial offering period.
(e) Each of the fees listed herein is assessed on a fixed dollar amount
per Unit basis which, as a percentage of average net assets, will vary
over time.
(f) Other operating expenses do not include brokerage costs and other
portfolio transaction fees for either of the Trusts. In certain
circumstances the Trusts may incur additional expenses not set forth
above. See "Expenses and Charges."
</FN>
Page 4
Report of Independent Registered
Public Accounting Firm
Page 5
Statements of Net Assets
FT 1483
At the Opening of Business on the
Initial Date of Deposit-July __, 2007
Global Nuclear
Agriculture Energy
Portfolio Portfolio
Series Series
__________ __________
NET ASSETS
Investment in Securities represented by purchase contracts (1) (2) $ $
Less liability for reimbursement to Sponsor for organization costs (3) ( ) ( )
Less liability for deferred sales charge (4) ( ) ( )
Less liability for creation and development fee (5) ( ) ( )
_______ _______
Net assets $ $
======= =======
Units outstanding
Net asset value per Unit (6) $ 9.576 $ 9.576
ANALYSIS OF NET ASSETS
Cost to investors (7) $ $
Less maximum sales charge (7) ( ) ( )
Less estimated reimbursement to Sponsor for organization costs (3) ( ) ( )
__________ __________
Net assets $ $
======== ========
_____________
<FN>
NOTES TO STATEMENTS OF NET ASSETS
The Sponsor is responsible for the preparation of financial statements
in accordance with accounting principles generally accepted in the
United States which require the Sponsor to make estimates and
assumptions that affect amounts reported herein. Actual results could
differ from those estimates.
(1) Each Trust invests in a diversified portfolio of common stocks.
Aggregate cost of the Securities listed under "Schedule of Investments"
for each Trust is based on their aggregate underlying value. Each Trust
has a Mandatory Termination Date of July 10, 2009.
(2) An irrevocable letter of credit issued by The Bank of New York, of
which approximately $300,000 will be allocated $150,000 each between the
two Trusts in FT 1483, has been deposited with the Trustee as
collateral, covering the monies necessary for the purchase of the
Securities according to their purchase contracts.
(3) A portion of the Public Offering Price consists of an amount
sufficient to reimburse the Sponsor for all or a portion of the costs of
establishing the Trusts. These costs have been estimated at $.0290 per
Unit for each Trust. A payment will be made at the earlier of six months
after the Initial Date of Deposit or the end of the initial offering
period to an account maintained by the Trustee from which the obligation
of the investors to the Sponsor will be satisfied. To the extent that
actual organization costs of a Trust are greater than the estimated
amount, only the estimated organization costs added to the Public
Offering Price will be reimbursed to the Sponsor and deducted from the
assets of such Trust.
(4) Represents the amount of mandatory deferred sales charge
distributions of $.245 per Unit for each Trust, payable to the Sponsor
in three approximately equal monthly installments beginning on October
19, 2007 and on the twentieth day of each month thereafter (or if such
date is not a business day, on the preceding business day) through
December 20, 2007. If Unit holders redeem their Units before December
20, 2007 they will have to pay the remaining amount of the deferred
sales charge applicable to such Units when they redeem them.
(5) The creation and development fee ($.050 per Unit for each Trust) is
payable by a Trust on behalf of Unit holders out of assets of a Trust at
the end of the initial offering period. If Units are redeemed prior to
the close of the initial offering period, the fee will not be deducted
from the proceeds.
(6) Net asset value per Unit is calculated by dividing a Trust's net
assets by the number of Units outstanding. This figure includes
organization costs and the creation and development fee, which will only
be assessed to Units outstanding at the earlier of six months after the
Initial Date of Deposit or the end of the initial offering period in the
case of organization costs or the close of the initial offering period
in the case of the creation and development fee.
(7) The aggregate cost to investors includes a maximum sales charge
(comprised of an initial sales charge, a deferred sales charge and the
creation and development fee) computed at the rate of 3.95% of the
Public Offering Price per Unit (equivalent to 3.99% of the net amount
invested, exclusive of the deferred sales charge and the creation and
development fee), assuming no reduction of the maximum sales charge as
set forth under "Public Offering."
</FN>
Page 6
Schedule of Investments
Global Agriculture Portfolio Series
FT 1483
At the Opening of Business on the
Initial Date of Deposit-July __, 2007
Percentage Market Cost of
Ticker Symbol and of Aggregate Number Value per Securities to
Name of Issuer of Securities (1)(3) Offering Price of Shares Share the Trust (2)
_____________________________ _________ ______ ______ _________
% $ $
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
______ _________
Total Investments 100.00% $
====== =========
_____________
<FN>
See "Notes to Schedules of Investments" on page 9.
</FN>
Page 7
Schedule of Investments
Nuclear Energy Portfolio Series
FT 1483
At the Opening of Business on the
Initial Date of Deposit-July __, 2007
Percentage Market Cost of
Ticker Symbol and of Aggregate Number Value per Securities to
Name of Issuer of Securities (1)(3) Offering Price of Shares Share the Trust (2)
_____________________________ _________ ______ ______ _________
% $ $
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
______ _________
Total Investments 100% $
====== =========
_____________
<FN>
See "Notes to Schedules of Investments" on page 9.
Page 8
NOTES TO SCHEDULES OF INVESTMENTS
(1) All Securities are represented by regular way contracts to purchase
such Securities which are backed by an irrevocable letter of credit
deposited with the Trustee. The Sponsor entered into purchase contracts
for the Securities on July __, 2007. Such purchase contracts are
expected to settle within three business days.
(2) The cost of the Securities to a Trust represents the aggregate
underlying value with respect to the Securities acquired (generally
determined by the closing sale prices of the listed Securities and the
ask prices of the over-the-counter traded Securities at the Evaluation
Time on the business day preceding the Initial Date of Deposit). The
valuation of the Securities has been determined by the Evaluator, an
affiliate of the Sponsor. The cost of the Securities to the Sponsor and
the Sponsor's profit or loss (which is the difference between the cost
of the Securities to the Sponsor and the cost of the Securities to a
Trust) are set forth below:
Cost of
Securities Profit
to Sponsor (Loss)
_________ _______
Global Agriculture Portfolio Series $ $
Nuclear Energy Portfolio Series $ $
(3) Common stocks of companies headquartered or incorporated outside the
United States comprise the percentage of investments of each Trust as
indicated:
Global Agriculture Portfolio Series, ____%; and
Nuclear Energy Portfolio Series, ____%
+ Each Security represents the common stock of a foreign company which
trades directly, or through an American Depositary Receipt (ADR), on a
U.S. national securities exchange.
* This Security has not paid a cash dividend in the 12 months prior to
the Initial Date of Deposit.
</FN>
Page 9
The FT Series
The FT Series Defined.
We, First Trust Portfolios L.P. (the "Sponsor"), have created hundreds
of similar yet separate series of a unit investment trust which we have
named the FT Series. The series to which this prospectus relates, FT
1483, consists of two separate portfolios set forth below:
- - Global Agriculture Portfolio Series
- - Nuclear Energy Portfolio Series
Each Trust was created under the laws of the State of New York by a
Trust Agreement (the "Indenture") dated the Initial Date of Deposit.
This agreement, entered into among First Trust Portfolios L.P., as
Sponsor, The Bank of New York as Trustee, FTP Services LLC ("FTPS") as
FTPS Unit Servicing Agent and First Trust Advisors L.P. as Portfolio
Supervisor and Evaluator, governs the operation of the Trusts.
YOU MAY GET MORE SPECIFIC DETAILS CONCERNING THE NATURE, STRUCTURE AND
RISKS OF THIS PRODUCT IN AN "INFORMATION SUPPLEMENT" BY CALLING THE
SPONSOR AT 1-800-621-1675, EXT. 1.
How We Created the Trusts.
On the Initial Date of Deposit, we deposited a portfolio of common
stocks with the Trustee and in turn, the Trustee delivered documents to
us representing our ownership of the Trusts in the form of units
("Units").
After the Initial Date of Deposit, we may deposit additional Securities
in a Trust, or cash (including a letter of credit or the equivalent)
with instructions to buy more Securities, to create new Units for sale.
If we create additional Units, we will attempt, to the extent
practicable, to maintain the percentage relationship established among
the Securities on the Initial Date of Deposit (as set forth in "Schedule
of Investments" for each Trust), adjusted to reflect the sale,
redemption or liquidation of any of the Securities or any stock split or
a merger or other similar event affecting the issuer of the Securities.
Since the prices of the Securities will fluctuate daily, the ratio of
Securities in the Trusts, on a market value basis, will also change
daily. The portion of Securities represented by each Unit will not
change as a result of the deposit of additional Securities or cash in a
Trust. If we deposit cash, you and new investors may experience a
dilution of your investment. This is because prices of Securities will
fluctuate between the time of the cash deposit and the purchase of the
Securities, and because the Trusts pay the associated brokerage fees. To
reduce this dilution, the Trusts will try to buy the Securities as close
to the Evaluation Time and as close to the evaluation price as possible.
In addition, because the Trusts pay the brokerage fees associated with
the creation of new Units and with the sale of Securities to meet
redemption and exchange requests, frequent redemption and exchange
activity will likely result in higher brokerage expenses.
An affiliate of the Trustee may receive these brokerage fees or the
Trustee may retain and pay us (or our affiliate) to act as agent for the
Trusts to buy Securities. If we or an affiliate of ours act as agent to
the Trusts, we will be subject to the restrictions under the Investment
Company Act of 1940, as amended.
We cannot guarantee that a Trust will keep its present size and
composition for any length of time. Securities may periodically be sold
under certain circumstances, and the proceeds from these sales will be
used to meet Trust obligations or distributed to Unit holders, but will
not be reinvested. However, Securities will not be sold to take
advantage of market fluctuations or changes in anticipated rates of
appreciation or depreciation, or if they no longer meet the criteria by
which they were selected. You will not be able to dispose of or vote any
of the Securities in the Trusts. As the holder of the Securities, the
Trustee will vote all of the Securities and will do so based on our
instructions.
Neither we nor the Trustee will be liable for a failure in any of the
Securities. However, if a contract for the purchase of any of the
Securities initially deposited in a Trust fails, unless we can purchase
substitute Securities ("Replacement Securities"), we will refund to you
that portion of the purchase price and transactional sales charge
resulting from the failed contract on the next Distribution Date. Any
Replacement Security a Trust acquires will be identical to those from
the failed contract.
Portfolios
Objective.
The objective of each Trust is to provide investors with the potential
for above-average capital appreciation through an investment in a
diversified portfolio of common stocks of companies in the sector or
investment focus for which each Trust is named. A diversified portfolio
helps to offset the risks normally associated with such an investment,
although it does not eliminate them entirely. The companies selected for
the Trusts have been researched and evaluated using database screening
techniques, fundamental analysis, and the judgment of the Sponsor's
research analysts.
Page 10
Global Agriculture Portfolio Series invests in common stocks of
companies in the agriculture sector.
Today, like many sectors of the world economy, agriculture is being
challenged by global change. New markets are being created by
dramatically changing patterns of demand, presenting increasing
opportunities for companies in the agriculture sector. These companies
help farmers around the world to flourish, produce healthier foods and
provide better animal feeds, while also reducing agriculture's impact on
our environment. We believe these companies stand to benefit if these
positive trends continue.
Global Population Growth. A diverse, plentiful supply of safe,
nutritious and affordable food has long been available to American
consumers. However, certain global developments may pose an increasing
threat to our food production. According to the United States Census
Bureau, the world population is just over six billion people. Foreign
markets should continue to provide growth opportunities for the
agriculture sector. World population is expected to increase by 50%, or
an additional three billion people, by 2050. When taken together with
broad-based economic growth, this could result in a doubling of global
food demand. [Report of the Agriculture Task Force-The Chicago Council
on Global Affairs] As the global population grows it will result in
higher agricultural demand and may produce higher prices.
Economic Growth. The potential growth in food consumption from economic
growth is enormous. The 10-year outlook for the global economy continues
to be strong, with a 3.3% average annual rate of real GDP growth. The
large emerging BRIC economies (Brazil, Russia, India and China) are the
key drivers of economic growth. Real income growth in China and India is
projected to be respectively 7.8% and 6.9% per year on average. [Food
and Agricultural Policy Research Institute]
Demand for agricultural products should increase as people in developing
countries experience income growth. For example, U.S. apples and oranges
have established a significant high-end niche in China. U.S. exports of
fruit and fruit products to China grew to $106.5 million in 2006; more
than triple the value in 2002, despite selling at prices three to four
times higher than those of domestic fruit. [USDA AmberWaves; June 2007]
Agriculture in Energy Production. Technological innovations are
introducing new uses for agricultural goods beyond food production.
According to the USDA, corn acreage is up in nearly all states due to
favorable prices fueled by increased demand from ethanol producers as
well as strong export sales. In 2007, Farmers plan to plant 90.5 million
acres of corn, the largest area since 1944 and 12.1 million acres more
than in 2006.
Brazil derives 29% of energy from biomass (energy which is derived from
wood, waste, and alcohol fuels) compared to 11% globally. Brazil is
expecting to more than double its ethanol production and exports over
the coming decade as well as expanding its biodiesel production. Asian
biofuel consumption is up as well. In 2002 the Chinese government
introduced a required 10% ethanol blend in gasoline in several
provinces. [The 2007 Outlook for World Agricultural Commodities Markets;
European Commission]
Based on the composition of the portfolio on the Initial Date of
Deposit, Global Agriculture Portfolio Series is considered to be a
________ Trust.
Nuclear Energy Portfolio Series invests in a diversified portfolio of
common stocks of companies involved in the nuclear energy industry.
Nuclear Power Overview.
Nuclear energy is the largest source of clean-air, carbon-free energy in
North America. [Nuclear Energy Institute] Nuclear power accounts for
about 20% of the total electricity generated in the United States, an
amount comparable to all the electricity used in our three most populous
states-California, Texas and New York. [Energy Information
Administration] Nuclear power plants produce no controlled air
pollutants, such as sulfur and particulates, or greenhouse gases. Along
with other energy sources, the use of nuclear energy helps to keep the
air clean, preserve the Earth's climate, avoid ground-level ozone
formation and prevent acid rain. [Nuclear Energy Institute]
World marketed energy consumption is projected to grow by 57% between
2004 and 2030. [Energy Information Administration] According to the U.S.
Department of Energy, the amount of electricity the United States uses
is expected to rise 50% by 2030. The impact overseas is even greater. As
residents of developing nations become able to afford TVs, computers and
air conditioners, worldwide electricity consumption is expected to
double by 2030. To meet this new demand, the world is again considering
nuclear power for its capacity to deliver power cleanly, safely,
reliably and on a massive scale. The London-based World Energy Council
says that meeting new demand for electricity while reducing the current
level of emissions will require tripling the world's nuclear-plant
capacity by 2050.
After a decade in which no nuclear-powered electric generating stations
came online in the United States, 31 new reactors are on the drawing
boards. Rising prices for oil and natural gas are making atomic energy
Page 11
seem cheap by comparison, and global-warming concerns are prompting
reconsideration of clean-burning nuclear power. [Kipplinger.com]
In 2006, world nuclear energy generation rose 1.4%. Although world
energy consumption rose in 2006, the rate of growth slowed for every
fuel except nuclear.
With the help of nuclear energy, the United States has reduced the share
of electricity generated from oil by more than 80% since the 1970s. The
Bush Administration launched the Nuclear Power 2010 Initiative aimed at
ensuring affordable, reliable, and clean sources of nuclear energy for
America. This $1.1 billion partnership between the government and
industry will facilitate the construction of new nuclear energy plants.
[cleansafeenergy.org]
Nuclear Energy Facts.
o Higher fossil fuel prices, energy security concerns, improved reactor
designs, and environmental considerations are expected to contribute to
increased demand for nuclear power in many parts of the world. [Nuclear
Energy Institute]
o The energy in one uranium fuel pellet-the size of the tip of your
little finger-is the equivalent of 17,000 cubic feet of natural gas,
1,780 pounds of coal, or 149 gallons of oil. [Nuclear Energy Institute]
o Nuclear energy has the smallest environmental impact of any greenhouse
gas-free electricity source. For example, a wind farm would need 235
square miles to produce the same amount of electricity as a 1,000-
megawatt nuclear power plant. [Nuclear Energy Institute]
o According to the BP Statistical Review of World Energy 2007, world
nuclear energy consumption expressed in tons of equivalent oil has
increased in the past decade from less than 550 million tons in 1996 to
more than 625 million tons in 2006.
Based on the composition of the portfolio on the Initial Date of
Deposit, Nuclear Energy Portfolio Series is considered to be a ________
Trust.
From time to time in the prospectus or in marketing materials we may
identify a portfolio's style and capitalization characteristics to
describe a trust. These characteristics are designed to help you better
understand how a Trust fits into your overall investment plan. These
characteristics are determined by the Sponsor as of the Initial Date of
Deposit and, due to changes in the value of the Securities, may vary
thereafter. In addition, from time to time, analysts and research
professionals may apply different criteria to determine a Security's
style and capitalization characteristics, which may result in
designations which differ from those arrived at by the Sponsor. In
general, growth stocks are those with high relative price-to-book ratios
while value stocks are those with low relative price-to-book ratios. At
least 65% of the stocks in a trust on the trust's initial date of
deposit must fall into either the growth or value category for a trust
itself to receive the designation. Trusts that do not meet this criteria
are designated as blend trusts. Both the weighted average market
capitalization of a trust and at least half of the Securities in a trust
must fall into the following ranges to determine its market
capitalization designation: Small-Cap-less than $2.5 billion; Mid-Cap-
$2.5 billion to $10 billion; Large-Cap-over $10 billion. Trusts,
however, may contain individual stocks that do not fall into its stated
style or market capitalization designation.
You should be aware that predictions stated herein may not be realized.
In addition, the Securities contained in each Trust are not intended to
be representative of the selected industry or sector as a whole and the
performance of each Trust is expected to differ from that of its
comparative industry or sector. Of course, as with any similar
investments, there can be no guarantee that the objective of the Trusts
will be achieved. See "Risk Factors" for a discussion of the risks of
investing in the Trusts.
Risk Factors
Price Volatility. The Trusts invest in common stocks. The value of a
Trust's Units will fluctuate with changes in the value of these common
stocks. Common stock prices fluctuate for several reasons including
changes in investors' perceptions of the financial condition of an
issuer or the general condition of the relevant stock market, such as
the current market volatility, or when political or economic events
affecting the issuers occur. In addition, common stock prices may be
particularly sensitive to rising interest rates, as the cost of capital
rises and borrowing costs increase.
Because the Trusts are not managed, the Trustee will not sell stocks in
response to or in anticipation of market fluctuations, as is common in
managed investments. As with any investment, we cannot guarantee that
the performance of any Trust will be positive over any period of time or
that you won't lose money. Units of the Trusts are not deposits of any
bank and are not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency.
Small-Cap Companies. Certain of the Securities in the Trusts are issued
by companies with market capitalizations of less than $2.5 billion.
Smaller companies present some unique investment risks. Small-caps may
have limited product lines, as well as shorter operating histories, less
experienced management and more limited financial resources than larger
Page 12
companies. Stocks of smaller companies may be less liquid than those of
larger companies and may experience greater price fluctuations than
larger companies. In addition, small-cap stocks may not be widely
followed by the investment community, which may result in low demand.
Dividends. There is no guarantee that the issuers of the Securities will
declare dividends in the future or that if declared they will either
remain at current levels or increase over time.
Agribusiness Sector. Because more than 25% of the Global Agriculture
Portfolio Series is invested in agribusiness companies, this Trust is
considered to be concentrated in the agribusiness sector. A portfolio
concentrated in a single sector may present more risks than a portfolio
which is broadly diversified over several sectors. Companies involved in
the agribusiness industry are subject to numerous risks, including
cyclicality of revenues and earnings, economic recession, currency
fluctuations, changing consumer tastes, extensive competition, weather
conditions, quotas, product liability litigation and governmental
regulation and subsidies. Generally, the agribusiness industry is
affected by the economic health of consumers. A weak economy and its
effect on consumer spending would adversely affect agribusiness companies.
Other risks of the agribusiness sector include consolidation, domestic
and international politics and excess capacity. In addition,
agribusiness companies may be significantly affected by volatility of
commodity prices, import controls, liability for environmental damage,
depletion of resources, and mandated expenditures for safety and
pollution control devices.
Consumer Products. The Global Agriculture Portfolio Series is also
considered to be concentrated in the consumer products sector. General
risks of these companies include cyclicality of revenues and earnings,
economic recession, currency fluctuations, changing consumer tastes,
extensive competition, product liability litigation and increased
governmental regulation. Generally, spending on consumer products is
affected by the economic health of consumers. A weak economy and its
effect on consumer spending would adversely affect consumer products
companies.
Materials. Global Agriculture Portfolio Series is also considered to be
concentrated in basic materials stocks. General risks of the basic
materials sector include the general state of the economy,
consolidation, domestic and international politics and excess capacity.
In addition, basic materials companies may also be significantly
affected by volatility of commodity prices, import controls, worldwide
competition, liability for environmental damage, depletion of resources,
and mandated expenditures for safety and pollution control devices.
Industrials. The Nuclear Energy Portfolio Series is considered to be
concentrated in industrial stocks. General risks of industrial companies
include the general state of the economy, intense competition,
consolidation, domestic and international politics, excess capacity and
consumer spending trends. In addition, they may also be significantly
affected by overall capital spending levels, economic cycles, technical
obsolescence, delays in modernization, labor relations, government
regulations and e-commerce initiatives.
Industrial companies may also be affected by factors more specific to
their individual industries. Industrial machinery manufacturers may be
subject to declines in consumer demand and the need for modernization.
Aerospace and defense companies may be influenced by decreased demand
for new equipment, aircraft order cancellations, changes in aircraft-
leasing contracts and cutbacks in profitable business travel.
Agricultural equipment businesses may be influenced by fluctuations in
farm income, farm commodity prices, government subsidies and weather
conditions. The number of housing starts, levels of public and non-
residential construction including weakening demand for new office and
retail space, and overall construction spending may adversely affect
construction equipment manufacturers, while overproduction,
consolidation and weakening global economies may lead to deteriorating
sales for auto and truck makers and their suppliers.
Nuclear Energy Sector. The Nuclear Energy Portfolio Series is also
considered to be concentrated in nuclear energy company stocks. Nuclear
energy companies may face considerable risk as a result of, among
others, incidents and accidents, breaches of security, ill-intentioned
acts or terrorism, air crashes, natural disasters (such as floods or
earthquakes), equipment malfunctions or mishandling in storage,
handling, transportation, treatment or conditioning of substances and
nuclear materials. Such events could have serious consequences,
especially in the case of radioactive contamination and irradiation of
the environment, for the general population, as well as a material,
negative impact on these companies.
Nuclear activity is also subject to particularly detailed and
restrictive regulations, with a scheme for the monitoring and periodic
re-examination of operating authorizations, which primarily takes into
account nuclear safety, environmental and public health protection, and
also national safety considerations (terrorist threats in particular).
These regulations may be subject to significant tightening by national
Page 13
and international authorities. This could result in increased operating
costs, which would have a negative impact on companies in this sector.
Furthermore, uranium prices are subject to fluctuation. The price of
uranium has been and will continue to be affected by numerous factors
such as the demand for nuclear power, political and economic conditions
in uranium producing and consuming countries, uranium supply from
secondary sources and uranium production levels and costs of production.
Legislation/Litigation. From time to time, various legislative
initiatives are proposed in the United States and abroad which may have
a negative impact on certain companies represented in the Trusts. In
addition, litigation regarding any of the issuers of the Securities, or
of the industries represented by such issuers, may negatively impact the
share prices of these Securities. We cannot predict what impact any
pending or proposed legislation or pending or threatened litigation will
have on the share prices of the Securities.
Foreign Stocks. Certain of the Securities in the Trusts are issued by
foreign companies, which makes these Trusts subject to more risks than
if they invested solely in domestic common stocks. These Securities are
either directly listed on a U.S. securities exchange or are in the form
of American Depositary Receipts ("ADRs") which are listed on a U.S.
securities exchange. Risks of foreign common stocks include higher
brokerage costs; different accounting standards; expropriation,
nationalization or other adverse political or economic developments;
currency devaluations, blockages or transfer restrictions; restrictions
on foreign investments and exchange of securities; inadequate financial
information; lack of liquidity of certain foreign markets; and less
government supervision and regulation of exchanges, brokers and issuers
in foreign countries.
Public Offering
The Public Offering Price.
You may buy Units at the Public Offering Price, the per Unit price of
which is comprised of the following:
- - The aggregate underlying value of the Securities;
- - The amount of any cash in the Income and Capital Accounts;
- - Dividends receivable on Securities; and
- - The maximum sales charge (which combines an initial upfront sales
charge, a deferred sales charge and the creation and development fee).
The price you pay for your Units will differ from the amount stated
under "Summary of Essential Information" due to various factors,
including fluctuations in the prices of the Securities and changes in
the value of the Income and/or Capital Accounts.
Although you are not required to pay for your Units until three business
days following your order (the "date of settlement"), you may pay before
then. You will become the owner of Units ("Record Owner") on the date of
settlement if payment has been received. If you pay for your Units
before the date of settlement, we may use your payment during this time
and it may be considered a benefit to us, subject to the limitations of
the Securities Exchange Act of 1934.
Organization Costs. Securities purchased with the portion of the Public
Offering Price intended to be used to reimburse the Sponsor for a
Trust's organization costs (including costs of preparing the
registration statement, the Indenture and other closing documents,
registering Units with the Securities and Exchange Commission ("SEC")
and states, the initial audit of each Trust's statement of net assets,
legal fees and the initial fees and expenses of the Trustee) will be
purchased in the same proportionate relationship as all the Securities
contained in a Trust. Securities will be sold to reimburse the Sponsor
for a Trust's organization costs at the earlier of six months after the
Initial Date of Deposit or the end of the initial offering period (a
significantly shorter time period than the life of the Trust). During
the period ending with the earlier of six months after the Initial Date
of Deposit or the end of the initial offering period, there may be a
decrease in the value of the Securities. To the extent the proceeds from
the sale of these Securities are insufficient to repay the Sponsor for
Trust organization costs, the Trustee will sell additional Securities to
allow a Trust to fully reimburse the Sponsor. In that event, the net
asset value per Unit of a Trust will be reduced by the amount of
additional Securities sold. Although the dollar amount of the
reimbursement due to the Sponsor will remain fixed and will never exceed
the per Unit amount set forth in "Notes to Statements of Net Assets,"
this will result in a greater effective cost per Unit to Unit holders
for the reimbursement to the Sponsor. To the extent actual organization
costs are less than the estimated amount, only the actual organization
costs will ultimately be charged to a Trust. When Securities are sold to
reimburse the Sponsor for organization costs, the Trustee will sell
Securities, to the extent practicable, which will maintain the same
proportionate relationship among the Securities contained in a Trust as
existed prior to such sale.
Minimum Purchase.
The minimum amount you can purchase of a Trust is $1,000 worth of Units
($500 if you are purchasing Units for your Individual Retirement Account
or any other qualified retirement plan).
Page 14
Maximum Sales Charge.
The maximum sales charge is comprised of a transactional sales charge
and a creation and development fee. After the initial offering period
the maximum sales charge will be reduced by 0.50%, to reflect the amount
of the previously charged creation and development fee.
Transactional Sales Charge.
The transactional sales charge you will pay has both an initial and a
deferred component.
Initial Sales Charge. The initial sales charge, which you will pay at
the time of purchase, is equal to the difference between the maximum
sales charge of 3.95% of the Public Offering Price and the sum of the
maximum remaining deferred sales charge and the creation and development
fee (initially equal to $.295 per Unit). This initial sales charge is
initially equal to approximately 1.00% of the Public Offering Price of a
Unit, but will vary from 1.00% depending on the purchase price of your
Units and as deferred sales charge and creation and development fee
payments are made. When the Public Offering Price per Unit exceeds
$10.00, the initial sales charge will exceed 1.00% of the Public
Offering Price.
Monthly Deferred Sales Charge. In addition, three monthly deferred sales
charge payments of approximately $.0817 per Unit will be deducted from a
Trust's assets on approximately the twentieth day of each month from
October 19, 2007 through December 20, 2007. If you buy Units at a price
of less than $10.00 per Unit, the dollar amount of the deferred sales
charge will not change, but the deferred sales charge on a percentage
basis will be more than 2.45% of the Public Offering Price.
If you purchase Units after the last deferred sales charge payment has
been assessed, your sales charge will consist of a one-time initial
sales charge of 3.45% of the Public Offering Price per Unit (equivalent
to 3.573% of the net amount invested). The transactional sales charge
will be reduced by 1/2 of 1% on each subsequent July 31, commencing July
31, 2008, to a minimum sales charge of 3.00%.
Creation and Development Fee.
As Sponsor, we will also receive, and the Unit holders will pay, a
creation and development fee. See "Expenses and Charges" for a
description of the services provided for this fee. The creation and
development fee is a charge of $.050 per Unit for each Trust collected
at the end of the initial offering period. If you buy Units at a price
of less than $10.00 per Unit, the dollar amount of the creation and
development fee will not change, but the creation and development fee on
a percentage basis will be more than 0.50% of the Public Offering Price.
Discounts for Certain Persons.
If you invest at least $50,000 (except if you are purchasing for "Fee
Accounts" as described below), the maximum sales charge is reduced as
follows:
Your maximum Dealer
If you invest sales charge concession
(in thousands):* will be: will be:
_______________ __________ _________
$50 but less than $100 3.70% 2.90%
$100 but less than $250 3.45% 2.65%
$250 but less than $500 3.10% 2.35%
$500 but less than $1,000 2.95% 2.25%
$1,000 or more 2.45% 1.80%
* The breakpoints will be adjusted to take into consideration purchase
orders stated in dollars which cannot be completely fulfilled due to the
requirement that only whole Units be issued.
The reduced sales charge for quantity purchases will apply only to
purchases made by the same person on any one day from any one dealer. To
help you reach the above levels, you can combine the Units you purchase
of the Trusts with any other same day purchases of other trusts for
which we are Principal Underwriter and are currently in the initial
offering period. In addition, we will also consider Units you purchase
in the name of your spouse or child under 21 years of age to be
purchases by you. The reduced sales charges will also apply to a trustee
or other fiduciary purchasing Units for a single trust estate or single
fiduciary account. You must inform your dealer of any combined purchases
before the sale in order to be eligible for the reduced sales charge.
You may use termination proceeds from other unit investment trusts with
a similar strategy as the Trusts or redemption or termination proceeds
from any unit investment trust we sponsor to purchase Units of the
Trusts during the initial offering period at the Public Offering Price
less 1.00% (for purchases of $1,000,000 or more, the maximum sales
charge will be limited to 2.45% of the Public Offering Price), but you
will not be eligible to receive the reduced sales charges described in
the above table. Please note that if you purchase Units of a Trust in
this manner using redemption proceeds from trusts which assess the
amount of any remaining deferred sales charge at redemption, you should
be aware that any deferred sales charge remaining on these units will be
deducted from those redemption proceeds. In order to be eligible for
this reduced sales charge program, the termination or redemption
proceeds used to purchase Units must be derived from a transaction that
Page 15
occurred within 30 days of your Unit purchase. In addition, this program
will only be available for investors that utilize the same broker/dealer
(or a different broker/dealer with appropriate notification) for both
the Unit purchase and the transaction resulting in the receipt of the
termination or redemption proceeds used for the Unit purchase. You may
be required to provide appropriate documentation or other information to
your broker/dealer to evidence your eligibility for this reduced sales
charge program.
Investors purchasing Units through registered broker/dealers who charge
periodic fees in lieu of commissions or who charge for financial
planning, investment advisory or asset management services or provide
these or comparable services as part of an investment account where a
comprehensive "wrap fee" or similar charge is imposed ("Fee Accounts")
will not be assessed the transactional sales charge described in this
section on the purchase of Units in the primary market. Certain Fee
Accounts Unit holders may be assessed transaction or other account fees
on the purchase and/or redemption of such Units by their broker/dealer
or other processing organizations for providing certain transaction or
account activities. Fee Accounts Units are not available for purchase in
the secondary market. We reserve the right to limit or deny purchases of
Units not subject to the transactional sales charge by investors whose
frequent trading activity we determine to be detrimental to the Trusts.
Employees, officers and directors (and immediate family members) of the
Sponsor, our related companies and dealers may purchase Units at the
Public Offering Price less the applicable dealer concession. Immediate
family members include spouses, children, grandchildren, parents,
grandparents, siblings, mothers-in-law, fathers-in-law, sons-in-law,
daughters-in-law, brothers-in-law and sisters-in-law, and trustees,
custodians or fiduciaries for the benefit of such persons.
The Sponsor and certain dealers may establish a schedule where
employees, officers and directors of such dealers can purchase Units of
a Trust at the Public Offering Price less the established schedule
amount, which is designed to compensate such dealers for activities
relating to the sale of Units (the "Employee Dealer Concession").
You will be charged the deferred sales charge per Unit regardless of any
discounts. However, if you are eligible to receive a discount such that
the maximum sales charge you must pay is less than the applicable
maximum deferred sales charge, including Fee Accounts Units, you will be
credited the difference between your maximum sales charge and the
maximum deferred sales charge at the time you buy your Units. If you
elect to have distributions reinvested into additional Units of your
Trust, in addition to the reinvestment Units you receive you will also
be credited additional Units with a dollar value at the time of
reinvestment sufficient to cover the amount of any remaining deferred
sales charge to be collected on such reinvestment Units. The dollar
value of these additional credited Units (as with all Units) will
fluctuate over time, and may be less on the dates deferred sales charges
are collected than their value at the time they were issued.
The Value of the Securities.
The Evaluator will determine the aggregate underlying value of the
Securities in a Trust as of the Evaluation Time on each business day and
will adjust the Public Offering Price of the Units according to this
valuation. This Public Offering Price will be effective for all orders
received before the Evaluation Time on each such day. If we or the
Trustee receive orders for purchases, sales or redemptions after that
time, or on a day which is not a business day, they will be held until
the next determination of price. The term "business day" as used in this
prospectus will exclude Saturdays, Sundays and certain national holidays
on which the NYSE is closed.
The aggregate underlying value of the Securities in a Trust will be
determined as follows: if the Securities are listed on a securities
exchange or The Nasdaq Stock Market, their value is generally based on
the closing sale prices on that exchange or system (unless it is
determined that these prices are not appropriate as a basis for
valuation, as may be the case with certain foreign Securities listed on
a foreign securities exchange). For purposes of valuing Securities
traded on The Nasdaq Stock Market, closing sale price shall mean the
Nasdaq Official Closing Price ("NOCP") as determined by Nasdaq. However,
if there is no closing sale price on that exchange or system, they are
valued based on the closing ask prices. If the Securities are not so
listed, or, if so listed and the principal market for them is other than
on that exchange or system, their value will generally be based on the
current ask prices on the over-the-counter market (unless it is
determined that these prices are not appropriate as a basis for
valuation). If current ask prices are unavailable or, if available but
determined by the Evaluator to not be appropriate, the valuation is
generally determined:
a) On the basis of current ask prices for comparable securities;
b) By appraising the value of the Securities on the ask side of the
market; or
c) By any combination of the above.
After the initial offering period is over, the aggregate underlying
Page 16
value of the Securities will be determined as set forth above, except
that bid prices are used instead of ask prices when necessary.
Distribution of Units
We intend to qualify Units of the Trusts for sale in a number of states.
All Units will be sold at the then current Public Offering Price.
The Sponsor compensates intermediaries, such as broker/dealers and
banks, for their activities that are intended to result in sales of
Units of the Trusts. This compensation includes dealer concessions
described in the following section and may include additional
concessions and other compensation and benefits to broker/dealers and
other intermediaries.
Dealer Concessions.
Dealers and other selling agents can purchase Units at prices which
represent a concession or agency commission of 3.15% of the Public
Offering Price per Unit (or 65% of the maximum transactional sales
charge for secondary market sales), subject to the reduced concession
applicable to volume purchases as set forth in "Public Offering-
Discounts for Certain Persons." However, for Units subject to a
transactional sales charge which are purchased using redemption or
termination proceeds, this amount will be reduced to 2.15% of the sales
price of these Units (1.80% for purchases of $1,000,000 or more).
Eligible dealer firms and other selling agents who, during the previous
consecutive 12-month period through the end of the most recent month,
sold primary market units of unit investment trusts sponsored by us in
the dollar amounts shown below will be entitled to the following
additional sales concession on primary market sales during the current
month of units of unit investment trusts sponsored by us:
Total sales Additional
(in millions) Concession
_____________________ ___________
$25 but less than $100 0.050%
$100 but less than $150 0.075%
$150 but less than $250 0.100%
$250 but less than $500 0.115%
$500 or more 0.125%
Dealers and other selling agents will not receive a concession on the
sale of Units which are not subject to a transactional sales charge, but
such Units will be included in determining whether the above volume
sales levels are met. Eligible dealer firms and other selling agents
include clearing firms that place orders with First Trust and provide
First Trust with information with respect to the representatives who
initiated such transactions. Eligible dealer firms and other selling
agents will not include firms that solely provide clearing services to
other broker/dealer firms or firms who place orders through clearing
firms that are eligible dealers. We reserve the right to change the
amount of concessions or agency commissions from time to time. Certain
commercial banks may be making Units of the Trusts available to their
customers on an agency basis. A portion of the transactional sales
charge paid by these customers is kept by or given to the banks in the
amounts shown above.
Other Compensation and Benefits to Broker/Dealers.
The Sponsor, at its own expense and out of its own profits, currently
provides additional compensation and benefits to broker/dealers who sell
shares of Units of these Trusts and other First Trust products. This
compensation is intended to result in additional sales of First Trust
products and/or compensate broker/dealers and financial advisors for
past sales. A number of factors are considered in determining whether to
pay these additional amounts. Such factors may include, but are not
limited to, the level or type of services provided by the intermediary,
the level or expected level of sales of First Trust products by the
intermediary or its agents, the placing of First Trust products on a
preferred or recommended product list, access to an intermediary's
personnel, and other factors. The Sponsor makes these payments for
marketing, promotional or related expenses, including, but not limited
to, expenses of entertaining retail customers and financial advisers,
advertising, sponsorship of events or seminars, obtaining information
about the breakdown of unit sales among an intermediary's
representatives or offices, obtaining shelf space in broker/dealer firms
and similar activities designed to promote the sale of the Sponsor's
products. The Sponsor makes such payments to a substantial majority of
intermediaries that sell First Trust products. The Sponsor may also make
certain payments to, or on behalf of, intermediaries to defray a portion
of their costs incurred for the purpose of facilitating Unit sales, such
as the costs of developing or purchasing trading systems to process Unit
trades. Payments of such additional compensation described in this and
the preceding paragraph, some of which may be characterized as "revenue
sharing," may create an incentive for financial intermediaries and their
agents to sell or recommend a First Trust product, including these
Trusts, over products offered by other sponsors or fund companies. These
arrangements will not change the price you pay for your Units.
Page 17
Advertising and Investment Comparisons.
Advertising materials regarding a Trust may discuss several topics,
including: developing a long-term financial plan; working with your
financial professional; the nature and risks of various investment
strategies and unit investment trusts that could help you reach your
financial goals; the importance of discipline; how a Trust operates; how
securities are selected; various unit investment trust features such as
convenience and costs; and options available for certain types of unit
investment trusts. These materials may include descriptions of the
principal businesses of the companies represented in each Trust,
research analysis of why they were selected and information relating to
the qualifications of the persons or entities providing the research
analysis. In addition, they may include research opinions on the economy
and industry sectors included and a list of investment products
generally appropriate for pursuing those recommendations.
From time to time we may compare the estimated returns of the Trusts
(which may show performance net of the expenses and charges the Trusts
would have incurred) and returns over specified periods of other similar
trusts we sponsor in our advertising and sales materials, with (1)
returns on other taxable investments such as the common stocks
comprising various market indexes, corporate or U.S. Government bonds,
bank CDs and money market accounts or funds, (2) performance data from
Morningstar Publications, Inc. or (3) information from publications such
as Money, The New York Times, U.S. News and World Report, BusinessWeek,
Forbes or Fortune. The investment characteristics of each Trust differ
from other comparative investments. You should not assume that these
performance comparisons will be representative of a Trust's future
performance. We may also, from time to time, use advertising which
classifies trusts or portfolio securities according to capitalization
and/or investment style.
The Sponsor's Profits
We will receive a gross sales commission equal to the maximum
transactional sales charge per Unit of a Trust less any reduction as
stated in "Public Offering." We will also receive the amount of any
collected creation and development fee. Also, any difference between our
cost to purchase the Securities and the price at which we sell them to a
Trust is considered a profit or loss (see Note 2 of "Notes to Schedules
of Investments"). During the initial offering period, dealers and others
may also realize profits or sustain losses as a result of fluctuations
in the Public Offering Price they receive when they sell the Units.
In maintaining a market for the Units, any difference between the price
at which we purchase Units and the price at which we sell or redeem them
will be a profit or loss to us.
The Secondary Market
Although not obligated, we intend to maintain a market for the Units
after the initial offering period and continuously offer to purchase
Units at prices based on the Redemption Price per Unit.
We will pay all expenses to maintain a secondary market, except the
Evaluator fees and Trustee costs to transfer and record the ownership of
Units. We may discontinue purchases of Units at any time. IF YOU WISH TO
DISPOSE OF YOUR UNITS, YOU SHOULD ASK US FOR THE CURRENT MARKET PRICES
BEFORE MAKING A TENDER FOR REDEMPTION TO THE TRUSTEE. If you sell or
redeem your Units before you have paid the total deferred sales charge
on your Units, you will have to pay the remainder at that time.
How We Purchase Units
The Trustee (or the FTPS Unit Servicing Agent in the case of FTPS Units)
will notify us of any tender of Units for redemption. If our bid at that
time is equal to or greater than the Redemption Price per Unit, we may
purchase the Units. You will receive your proceeds from the sale no
later than if they were redeemed by the Trustee. We may tender Units
that we hold to the Trustee for redemption as any other Units. If we
elect not to purchase Units, the Trustee (or the FTPS Unit Servicing
Agent in the case of FTPS Units) may sell tendered Units in the over-the-
counter market, if any. However, the amount you will receive is the same
as you would have received on redemption of the Units.
Expenses and Charges
The estimated annual expenses of each Trust are listed under "Fee
Table." If actual expenses of a Trust exceed the estimate, that Trust
will bear the excess. The Trustee will pay operating expenses of the
Trust from the Income Account if funds are available, and then from the
Capital Account. The Income and Capital Accounts are noninterest-bearing
to Unit holders, so the Trustee may earn interest on these funds, thus
benefiting from their use.
First Trust Advisors L.P., an affiliate of ours, acts as both Portfolio
Supervisor and Evaluator to the Trusts, and will be compensated for
Page 18
providing portfolio supervisory services and evaluation services as well
as bookkeeping and other administrative services to the Trusts. In
providing portfolio supervisory services, the Portfolio Supervisor may
purchase research services from a number of sources, which may include
underwriters or dealers of the Trusts. As Sponsor, we will receive
brokerage fees when the Trusts use us (or an affiliate of ours) as agent
in buying or selling Securities. As authorized by the Indenture, the
Trustee may employ a subsidiary or affiliate of the Trustee to act as
broker to execute certain transactions for a Trust. The Trusts will pay
for such services at standard commission rates.
FTP Services LLC, an affiliate of ours, acts as FTPS Unit Servicing
Agent to the Trusts with respect to the Trusts' FTPS Units. FTPS Units
are Units which are purchased and sold through the Fund/SERV(R) trading
system or on a manual basis through FTP Services LLC. In all other
respects, FTPS Units are identical to other Units. FTP Services LLC will
be compensated for providing shareholder services to the FTPS Units.
The fees payable to First Trust Advisors L.P., FTP Services LLC and the
Trustee are based on the largest aggregate number of Units of a Trust
outstanding at any time during the calendar year, except during the
initial offering period, in which case these fees are calculated based
on the largest number of Units outstanding during the period for which
compensation is paid. These fees may be adjusted for inflation without
Unit holders' approval, but in no case will the annual fees paid to us
or our affiliates for providing services to all unit investment trusts
be more than the actual cost of providing such services in such year.
As Sponsor, we will receive a fee from each Trust for creating and
developing the Trusts, including determining each Trust's objectives,
policies, composition and size, selecting service providers and
information services and for providing other similar administrative and
ministerial functions. The "creation and development fee" is a charge of
$.050 per Unit outstanding at the end of the initial offering period.
The Trustee will deduct this amount from a Trust's assets as of the
close of the initial offering period. We do not use this fee to pay
distribution expenses or as compensation for sales efforts. This fee
will not be deducted from your proceeds if you sell or redeem your Units
before the end of the initial offering period.
In addition to a Trust's operating expenses and those fees described
above, each Trust may also incur the following charges:
- - All legal expenses of the Trustee according to its responsibilities
under the Indenture;
- - The expenses and costs incurred by the Trustee to protect a Trust and
your rights and interests;
- - Fees for any extraordinary services the Trustee performed under the
Indenture;
- - Payment for any loss, liability or expense the Trustee incurred
without negligence, bad faith or willful misconduct on its part, in
connection with its acceptance or administration of a Trust;
- - Payment for any loss, liability or expenses we incurred without
negligence, bad faith or willful misconduct in acting as Depositor of a
Trust; and/or
- - All taxes and other government charges imposed upon the Securities or
any part of a Trust.
The above expenses and the Trustee's annual fee are secured by a lien on
the Trusts. Since the Securities are all common stocks and dividend
income is unpredictable, we cannot guarantee that dividends will be
sufficient to meet any or all expenses of the Trusts. If there is not
enough cash in the Income or Capital Account, the Trustee has the power
to sell Securities in a Trust to make cash available to pay these
charges which may result in capital gains or losses to you. See "Tax
Status."
Tax Status
Federal Tax Matters.
This section summarizes some of the main U.S. federal income tax
consequences of owning Units of a Trust. This section is current as of
the date of this prospectus. Tax laws and interpretations change
frequently, and these summaries do not describe all of the tax
consequences to all taxpayers. For example, these summaries generally do
not describe your situation if you are a corporation, a non-U.S. person,
a broker/dealer, or other investor with special circumstances. In
addition, this section does not describe your state, local or foreign
tax consequences.
This federal income tax summary is based in part on the advice and
opinion of counsel to the Sponsor. The Internal Revenue Service could
disagree with any conclusions set forth in this section. In addition,
our counsel was not asked to review, and has not reached a conclusion
with respect to the federal income tax treatment of the assets to be
deposited in the Trusts. This may not be sufficient for you to use for
the purpose of avoiding penalties under federal tax law.
As with any investment, you should seek advice based on your individual
circumstances from your own tax advisor.
Assets of the Trusts.
Each Trust is expected to hold shares of stock in corporations (the
"Stocks") that are treated as equity for federal income tax purposes. It
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is possible that a Trust will also hold other assets, including assets
that are treated differently for federal income tax purposes from those
described above, in which case you will have federal income tax
consequences different from or in addition to those described in this
section. All of the assets held by a Trust constitute the "Trust
Assets." Neither our counsel nor we have analyzed the proper federal
income tax treatment of the Trust Assets and thus neither our counsel
nor we have reached a conclusion regarding the federal income tax
treatment of the Trust Assets.
Trust Status.
If the Trusts are at all times operated in accordance with the documents
establishing the Trusts and certain requirements of federal income tax
law are met, the Trusts will not be taxed as corporations for federal
income tax purposes. As a Unit owner, you will be treated as the owner
of a pro rata portion of each of the Trust Assets, and as such you will
be considered to have received a pro rata share of income (e.g.,
dividends and capital gains, if any) from each Trust Asset when such
income would be considered to be received by you if you directly owned
the Trust Assets. This is true even if you elect to have your
distributions reinvested into additional Units. In addition, the income
from Trust Assets that you must take into account for federal income tax
purposes is not reduced by amounts used to pay sales charges or Trust
expenses.
Your Tax Basis and Income or Loss upon Disposition.
If your Trust disposes of Trust Assets, you will generally recognize
gain or loss. If you dispose of your Units or redeem your Units for
cash, you will also generally recognize gain or loss. To determine the
amount of this gain or loss, you must subtract your tax basis in the
related Trust Assets from your share of the total amount received in the
transaction. You can generally determine your initial tax basis in each
Trust Asset by apportioning the cost of your Units, including sales
charges, among the Trust Assets ratably according to their values on the
date you acquire your Units. In certain circumstances, however, you may
have to adjust your tax basis after you acquire your Units (for example,
in the case of certain dividends that exceed a corporation's accumulated
earnings and profits, as discussed below).
If you are an individual, the maximum marginal federal tax rate for net
capital gain is generally 15% (generally 5% for certain taxpayers in the
10% and 15% tax brackets). These capital gains rates are generally
effective for taxable years beginning before January 1, 2011.
Net capital gain equals net long-term capital gain minus net short-term
capital loss for the taxable year. Capital gain or loss is long-term if
the holding period for the asset is more than one year and is short-term
if the holding period for the asset is one year or less. You must
exclude the date you purchase your Units to determine your holding
period. The tax rates for capital gains realized from assets held for
one year or less are generally the same as for ordinary income. The
Internal Revenue Code, however, treats certain capital gains as ordinary
income in special situations.
Dividends from Stocks.
Certain dividends received with respect to the Stocks may qualify to be
taxed at the same rates that apply to net capital gain (as discussed
above), provided certain holding period requirements are satisfied.
These special rules relating to the taxation of dividends at capital
gains rates generally apply to taxable years beginning before January 1,
2011.
Dividends Received Deduction.
Generally, a domestic corporation owning Units of a Trust may be
eligible for the dividends received deduction with respect to such Unit
owner's pro rata portion of certain types of dividends received by such
Trust from certain domestic corporations.
In-Kind Distributions.
Under certain circumstances as described in this prospectus, you may
request an In-Kind Distribution of Trust Assets when you redeem your
Units at any time prior to 30 business days before your Trust's
termination date. However, this ability to request an In-Kind
Distribution will terminate at any time that the number of outstanding
Units has been reduced to 10% or less of the highest number of Units
issued by your Trust. By electing to receive an In-Kind Distribution,
you will receive Trust Assets plus, possibly, cash. You will not
recognize gain or loss if you only receive whole Trust Assets in
exchange for the identical amount of your pro rata portion of the same
Trust Assets held by your Trust. However, if you also receive cash in
exchange for a Trust Asset or a fractional portion of a Trust Asset, you
will generally recognize gain or loss based on the difference between
the amount of cash you receive and your tax basis in such Trust Asset or
fractional portion.
Limitations on the Deductibility of Trust Expenses.
Generally, for federal income tax purposes, you must take into account
your full pro rata share of your Trust's income, even if some of that
income is used to pay Trust expenses. You may deduct your pro rata share
of each expense paid by your Trust to the same extent as if you directly
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paid the expense. You may be required to treat some or all of the
expenses of your Trust as miscellaneous itemized deductions. Individuals
may only deduct certain miscellaneous itemized deductions to the extent
they exceed 2% of adjusted gross income.
Foreign, State and Local Taxes.
Distributions by a Trust that are treated as U.S. source income (e.g.,
dividends received on Stocks of domestic corporations) will generally be
subject to U.S. income taxation and withholding in the case of Units
held by nonresident alien individuals, foreign corporations or other non-
U.S. persons, subject to any applicable treaty. If you are a foreign
investor (i.e., an investor other than a U.S. citizen or resident or a
U.S. corporation, partnership, estate or trust), you may not be subject
to U.S. federal income taxes, including withholding taxes, on some of
the income from your Trust or on any gain from the sale or redemption of
your Units, provided that certain conditions are met. You should consult
your tax advisor with respect to the conditions you must meet in order
to be exempt for U.S. tax purposes. You should also consult your tax
advisor with respect to other U.S. tax withholding and reporting
requirements.
Some distributions by the Trusts may be subject to foreign withholding
taxes. Any income withheld will still be treated as income to you. Under
the grantor trust rules, you are considered to have paid directly your
share of any foreign taxes that are paid. Therefore, for U.S. tax
purposes, you may be entitled to a foreign tax credit or deduction for
those foreign taxes.
If any U.S. investor is treated as owning directly or indirectly 10% or
more of the combined voting power of the stock of a foreign corporation,
and all U.S. shareholders of that corporation collectively own more than
50% of the vote or value of the stock of that corporation, the foreign
corporation may be treated as a controlled foreign corporation (a
"CFC"). If you own 10% or more of a CFC (through your Trust and in
combination with your other investments) you will be required to include
certain types of the CFC's income in your taxable income for federal
income tax purposes whether or not such income is distributed to your
Trust or to you.
Based on the advice of Carter Ledyard & Milburn LLP, special counsel to
the Trusts for New York tax matters, under the existing income tax laws
of the State and City of New York, assuming that the Trusts are not
treated as corporations for federal income tax purposes, the Trusts will
not be taxed as corporations for New York State and New York City tax
purposes, and the income of the Trusts will be treated as the income of
the Unit holders in the same manner as for federal income tax purposes.
You should consult your tax advisor regarding potential foreign, state
or local taxation with respect to your Units.
Retirement Plans
You may purchase Units of the Trusts for:
- - Individual Retirement Accounts;
- - Keogh Plans;
- - Pension funds; and
- - Other tax-deferred retirement plans.
Generally, the federal income tax on capital gains and income received
in each of the above plans is deferred until you receive distributions.
These distributions are generally treated as ordinary income but may, in
some cases, be eligible for special averaging or tax-deferred rollover
treatment. Before participating in a plan like this, you should review
the tax laws regarding these plans and consult your attorney or tax
advisor. Brokerage firms and other financial institutions offer these
plans with varying fees and charges.
Rights of Unit Holders
Unit Ownership.
The Trustee will treat as Record Owner of Units persons registered as
such on its books. For purposes of record-keeping, the Trustee will
treat the FTPS Unit Servicing Agent as sole Record Owner of FTPS Units
on its books. The FTPS Unit Servicing Agent will keep a record of all
individual FTPS Unit holders, the actual Record Owners of such Units, on
its books. It is your responsibility to notify the Trustee (or the FTPS
Unit Servicing Agent in the case of FTPS Units) when you become Record
Owner, but normally your broker/dealer provides this notice. You may
elect to hold your Units in either certificated or uncertificated form.
All Fee Accounts Units and FTPS Units, however, will be held in
uncertificated form.
Certificated Units. When you purchase your Units you can request that
they be evidenced by certificates, which will be delivered shortly after
your order. Certificates will be issued in fully registered form,
transferable only on the books of the Trustee in denominations of one
Unit or any multiple thereof. You can transfer or redeem your
certificated Units by endorsing and surrendering the certificate to the
Trustee, along with a written instrument of transfer. You must sign your
name exactly as it appears on the face of the certificate with your
signature guaranteed by an eligible institution. In certain cases the
Trustee may require additional documentation before they will transfer
or redeem your Units.
You may be required to pay a nominal fee to the Trustee for each
certificate reissued or transferred, and to pay any government charge
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that may be imposed for each transfer or exchange. If a certificate gets
lost, stolen or destroyed, you may be required to furnish indemnity to
the Trustee to receive replacement certificates. You must surrender
mutilated certificates to the Trustee for replacement.
Uncertificated Units. You may also choose to hold your Units in
uncertificated form. If you choose this option, the Trustee (or the FTPS
Unit Servicing Agent in the case of FTPS Units) will establish an
account for you and credit your account with the number of Units you
purchase. Within two business days of the issuance or transfer of Units
held in uncertificated form, the Trustee (or the FTPS Unit Servicing
Agent in the case of FTPS Units) will send you:
- - A written initial transaction statement containing a description of
your Trust;
- - A list of the number of Units issued or transferred;
- - Your name, address and Taxpayer Identification Number ("TIN");
- - A notation of any liens or restrictions of the issuer and any adverse
claims; and
- - The date the transfer was registered.
Uncertificated Units may be transferred the same way as certificated
Units, except that no certificate needs to be presented to the Trustee.
Also, no certificate will be issued when the transfer takes place unless
you request it. You may at any time request that the Trustee issue
certificates for your Units.
Unit Holder Reports.
In connection with each distribution, the Trustee (or the FTPS Unit
Servicing Agent in the case of FTPS Units) will provide you with a
statement detailing the per Unit amount of income (if any) distributed.
After the end of each calendar year, the Trustee (or the FTPS Unit
Servicing Agent in the case of FTPS Units) will provide you with the
following information:
- - A summary of transactions in your Trust for the year;
- - A list of any Securities sold during the year and the Securities held
at the end of that year by your Trust;
- - The Redemption Price per Unit, computed on the 31st day of December of
such year (or the last business day before); and
- - Amounts of income and capital distributed during the year.
You may request from the Trustee (or the FTPS Unit Servicing Agent in
the case of FTPS Units) copies of the evaluations of the Securities as
prepared by the Evaluator to enable you to comply with federal and state
tax reporting requirements.
Income and Capital Distributions
You will begin receiving distributions on your Units only after you
become a Record Owner. The Trustee will credit dividends received on a
Trust's Securities to the Income Account of such Trust. All other
receipts, such as return of capital, are credited to the Capital Account
of such Trust.
The Trustee will distribute money from the Income and Capital Accounts,
as determined at the monthly Record Date, monthly on the last day of
each month to Unit holders on the fifteenth day of such month provided
the aggregate amount, exclusive of sale proceeds, available for
distribution in the Income and Capital Accounts equals at least 0.1% of
the net asset value of a Trust. Undistributed money in the Income and
Capital Accounts will be distributed in the next month in which the
aggregate amount available for distribution, exclusive of sale proceeds,
equals or exceeds 0.1% of the net asset value of a Trust. See "Summary
of Essential Information." No income distribution will be paid if
accrued expenses of a Trust exceed amounts in the Income Account on the
Distribution Dates. Distribution amounts will vary with changes in a
Trust's fees and expenses, in dividends received and with the sale of
Securities. The Trustee will distribute sale proceeds in the Capital
Account, net of amounts designated to meet redemptions, pay the deferred
sales charge and creation and development fee or pay expenses, on the
last day of each month to Unit holders of record on the fifteenth day of
such month provided the amount equals at least $1.00 per 100 Units. If
the Trustee does not have your TIN, it is required to withhold a certain
percentage of your distribution and deliver such amount to the IRS. You
may recover this amount by giving your TIN to the Trustee, or when you
file a tax return. However, you should check your statements to make
sure the Trustee has your TIN to avoid this "back-up withholding."
We anticipate that there will be enough money in the Capital Account of
a Trust to pay the deferred sales charge. If not, the Trustee may sell
Securities to meet the shortfall.
Within a reasonable time after a Trust is terminated, you will receive
the pro rata share of the money from the sale of the Securities. All
Unit holders will receive a pro rata share of any other assets remaining
in your Trust after deducting any unpaid expenses.
The Trustee may establish reserves (the "Reserve Account") within a
Trust to cover anticipated state and local taxes or any governmental
charges to be paid out of the Trust.
Distribution Reinvestment Option. You may elect to have each
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distribution of income and/or capital reinvested into additional Units
of your Trust by notifying the Trustee (or the FTPS Unit Servicing Agent
in the case of FTPS Units) at least 10 days before any Record Date. Each
later distribution of income and/or capital on your Units will be
reinvested by the Trustee into additional Units of your Trust. There is
no transactional sales charge on Units acquired through the Distribution
Reinvestment Option, as discussed under "Public Offering." This option
may not be available in all states. Each reinvestment plan is subject to
availability or limitation by the Sponsor and each broker/dealer or
selling firm. The Sponsor or broker/dealers may suspend or terminate the
offering of a reinvestment plan at any time. Please contact your
financial professional for additional information. PLEASE NOTE THAT EVEN
IF YOU REINVEST DISTRIBUTIONS, THEY ARE STILL CONSIDERED DISTRIBUTIONS
FOR INCOME TAX PURPOSES.
Redeeming Your Units
You may redeem all or a portion of your Units at any time by sending the
certificates representing the Units you want to redeem to the Trustee at
the address set forth on the back of this prospectus. If your Units are
uncertificated, you need only deliver a request for redemption to the
Trustee (or the FTPS Unit Servicing Agent in the case of FTPS Units). In
either case, the certificates or the redemption request must be properly
endorsed with proper instruments of transfer and signature guarantees as
explained in "Rights of Unit Holders-Unit Ownership" (or by providing
satisfactory indemnity if the certificates were lost, stolen, or
destroyed). No redemption fee will be charged, but you are responsible
for any governmental charges that apply. Certain broker/dealers may
charge a transaction fee for processing redemption requests. Units
redeemed directly through the Trustee (or the FTPS Unit Servicing Agent
in the case of FTPS Units) are not subject to such transaction fees.
Three business days after the day you tender your Units (the "Date of
Tender") you will receive cash in an amount for each Unit equal to the
Redemption Price per Unit calculated at the Evaluation Time on the Date
of Tender.
The Date of Tender is considered to be the date on which the Trustee (or
the FTPS Unit Servicing Agent in the case of FTPS Units) receives your
certificates or redemption request (if such day is a day the NYSE is
open for trading). However, if your certificates or redemption request
are received after 4:00 p.m. Eastern time (or after any earlier closing
time on a day on which the NYSE is scheduled in advance to close at such
earlier time), the Date of Tender is the next day the NYSE is open for
trading.
Any amounts paid on redemption representing income will be withdrawn
from the Income Account if funds are available for that purpose, or from
the Capital Account. All other amounts paid on redemption will be taken
from the Capital Account. The IRS will require the Trustee to withhold a
portion of your redemption proceeds if it does not have your TIN, as
generally discussed under "Income and Capital Distributions."
If you tender at least 2,500 Units, or such other amount as required by
your broker/dealer, for redemption, rather than receiving cash, you may
elect to receive an In-Kind Distribution in an amount equal to the
Redemption Price per Unit by making this request in writing to the
Trustee at the time of tender. However, to be eligible to participate in
the In-Kind Distribution option at redemption, Fee Accounts Unit holders
must hold their Units through the end of the initial offering period.
The In-Kind Distribution option is generally not available to FTPS Unit
holders. No In-Kind Distribution requests submitted during the 30
business days prior to a Trust's Mandatory Termination Date will be
honored. Where possible, the Trustee will make an In-Kind Distribution
by distributing each of the Securities in book-entry form to your bank
or broker/dealer account at the Depository Trust Company. The Trustee
will subtract any customary transfer and registration charges from your
In-Kind Distribution. As a tendering Unit holder, you will receive your
pro rata number of whole shares of the Securities that make up the
portfolio, and cash from the Capital Account equal to the fractional
shares to which you are entitled.
The Trustee may sell Securities to make funds available for redemption.
If Securities are sold, the size and diversification of a Trust will be
reduced. These sales may result in lower prices than if the Securities
were sold at a different time.
Your right to redeem Units (and therefore, your right to receive
payment) may be delayed:
- - If the NYSE is closed (other than customary weekend and holiday
closings);
- - If the SEC determines that trading on the NYSE is restricted or that
an emergency exists making sale or evaluation of the Securities not
reasonably practical; or
- - For any other period permitted by SEC order.
The Trustee is not liable to any person for any loss or damage which may
result from such a suspension or postponement.
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The Redemption Price.
The Redemption Price per Unit is determined by the Trustee by:
adding
1.cash in the Income and Capital Accounts of a Trust not designated to
purchase Securities;
2.the aggregate value of the Securities held in a Trust; and
3.dividends receivable on the Securities trading ex-dividend as of the
date of computation; and
deducting
1.any applicable taxes or governmental charges that need to be paid out
of a Trust;
2.any amounts owed to the Trustee for its advances;
3.estimated accrued expenses of a Trust, if any;
4.cash held for distribution to Unit holders of record of a Trust as of
the business day before the evaluation being made;
5.liquidation costs for foreign Securities, if any; and
6.other liabilities incurred by a Trust; and
dividing
1.the result by the number of outstanding Units of a Trust.
Any remaining deferred sales charge on the Units when you redeem them
will be deducted from your redemption proceeds. In addition, until the
earlier of six months after the Initial Date of Deposit or the end of
the initial offering period, the Redemption Price per Unit will include
estimated organization costs as set forth under "Fee Table."
Removing Securities from a Trust
The portfolios of the Trusts are not managed. However, we may, but are
not required to, direct the Trustee to dispose of a Security in certain
limited circumstances, including situations in which:
- - The issuer of the Security defaults in the payment of a declared
dividend;
- - Any action or proceeding prevents the payment of dividends;
- - There is any legal question or impediment affecting the Security;
- - The issuer of the Security has breached a covenant which would affect
the payment of dividends, the issuer's credit standing, or otherwise
damage the sound investment character of the Security;
- - The issuer has defaulted on the payment of any other of its
outstanding obligations;
- - There has been a public tender offer made for a Security or a merger
or acquisition is announced affecting a Security, and that in our
opinion the sale or tender of the Security is in the best interest of
Unit holders;
- - The sale of Securities is necessary or advisable in order to maintain
the qualification of a Trust as a "regulated investment company" in the
case of a Trust which has elected to qualify as such;
- - The price of the Security has declined to such an extent, or such
other credit factors exist, that in our opinion keeping the Security
would be harmful to a Trust; or
- - As a result of the ownership of the Security, a Trust or its Unit
holders would be a direct or indirect shareholder of a passive foreign
investment company.
Except in the limited instance in which a Trust acquires Replacement
Securities, as described in "The FT Series," a Trust may not acquire any
securities or other property other than the Securities. The Trustee, on
behalf of the Trusts, will reject any offer for new or exchanged
securities or property in exchange for a Security, such as those
acquired in a merger or other transaction. If such exchanged securities
or property are nevertheless acquired by a Trust, at our instruction,
they will either be sold or held in such Trust. In making the
determination as to whether to sell or hold the exchanged securities or
property we may get advice from the Portfolio Supervisor. Any proceeds
received from the sale of Securities, exchanged securities or property
will be credited to the Capital Account for distribution to Unit holders
or to meet redemption requests. The Trustee may retain and pay us or an
affiliate of ours to act as agent for a Trust to facilitate selling
Securities, exchanged securities or property from the Trusts. If we or
our affiliate act in this capacity, we will be held subject to the
restrictions under the Investment Company Act of 1940, as amended.
The Trustee may sell Securities designated by us or, absent our
direction, at its own discretion, in order to meet redemption requests
or pay expenses. In designating Securities to be sold, we will try to
maintain the proportionate relationship among the Securities. If this is
not possible, the composition and diversification of a Trust may be
changed.
Amending or Terminating the Indenture
Amendments. The Indenture may be amended by us and the Trustee without
your consent:
- - To cure ambiguities;
- - To correct or supplement any defective or inconsistent provision;
Page 24
- - To make any amendment required by any governmental agency; or
- - To make other changes determined not to be adverse to your best
interests (as determined by us and the Trustee).
Termination. As provided by the Indenture, the Trusts will terminate on
the Mandatory Termination Date as stated in the "Summary of Essential
Information." The Trusts may be terminated earlier:
- - Upon the consent of 100% of the Unit holders of a Trust;
- - If the value of the Securities owned by a Trust as shown by any
evaluation is less than the lower of $2,000,000 or 20% of the total
value of Securities deposited in such Trust during the initial offering
period ("Discretionary Liquidation Amount"); or
- - In the event that Units of a Trust not yet sold aggregating more than
60% of the Units of such Trust are tendered for redemption by
underwriters, including the Sponsor.
Prior to termination, the Trustee will send written notice to registered
account holders which will specify how certificates, if any, should be
tendered to the Trustee. If a Trust is terminated due to this last
reason, we will refund your entire sales charge; however, termination of
a Trust before the Mandatory Termination Date for any other stated
reason will result in all remaining unpaid deferred sales charges on
your Units being deducted from your termination proceeds. For various
reasons, a Trust may be reduced below the Discretionary Liquidation
Amount and could therefore be terminated before the Mandatory
Termination Date.
Unless terminated earlier, the Trustee will begin to sell Securities in
connection with the termination of a Trust during the period beginning
nine business days prior to, and no later than, the Mandatory
Termination Date. We will determine the manner and timing of the sale of
Securities. Because the Trustee must sell the Securities within a
relatively short period of time, the sale of Securities as part of the
termination process may result in a lower sales price than might
otherwise be realized if such sale were not required at this time.
You will receive a cash distribution from the sale of the remaining
Securities, along with your interest in the Income and Capital Accounts,
within a reasonable time after such Trust is terminated. The Trustee
will deduct from the Trusts any accrued costs, expenses, advances or
indemnities provided for by the Indenture, including estimated
compensation of the Trustee and costs of liquidation and any amounts
required as a reserve to pay any taxes or other governmental charges.
Information on the Sponsor, Trustee,
FTPS Unit Servicing Agent and Evaluator
The Sponsor.
We, First Trust Portfolios L.P., specialize in the underwriting, trading
and wholesale distribution of unit investment trusts under the "First
Trust" brand name and other securities. An Illinois limited partnership
formed in 1991, we took over the First Trust product line and act as
Sponsor for successive series of:
- - The First Trust Combined Series
- - FT Series (formerly known as The First Trust Special Situations Trust)
- - The First Trust Insured Corporate Trust
- - The First Trust of Insured Municipal Bonds
- - The First Trust GNMA
The First Trust product line commenced with the first insured unit
investment trust in 1974. To date we have deposited more than $85
billion in First Trust unit investment trusts. Our employees include a
team of professionals with many years of experience in the unit
investment trust industry.
We are a member of the NASD and Securities Investor Protection
Corporation. Our principal offices are at 1001 Warrenville Road, Lisle,
Illinois 60532; telephone number (630) 241-4141. As of December 31,
2006, the total consolidated partners' capital of First Trust Portfolios
L.P. and subsidiaries was $50,884,373 (audited).
This information refers only to us and not to the Trusts or to any
series of the Trusts or to any other dealer. We are including this
information only to inform you of our financial responsibility and our
ability to carry out our contractual obligations. We will provide more
detailed financial information on request.
Code of Ethics. The Sponsor and the Trusts have adopted a code of ethics
requiring the Sponsor's employees who have access to information on
Trust transactions to report personal securities transactions. The
purpose of the code is to avoid potential conflicts of interest and to
prevent fraud, deception or misconduct with respect to the Trusts.
The Trustee.
The Trustee is The Bank of New York, a trust company organized under the
laws of New York. The Bank of New York has its unit investment trust
division offices at 101 Barclay Street, New York, New York 10286,
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telephone (800) 813-3074. If you have questions regarding your account
or your Trust, please contact the Trustee at its unit investment trust
division offices or your financial adviser. The Sponsor does not have
access to individual account information. The Bank of New York is
subject to supervision and examination by the Superintendent of Banks of
the State of New York and the Board of Governors of the Federal Reserve
System, and its deposits are insured by the Federal Deposit Insurance
Corporation to the extent permitted by law.
The Trustee has not participated in selecting the Securities for the
Trusts; it only provides administrative services.
The FTPS Unit Servicing Agent.
The FTPS Unit Servicing Agent is FTP Services LLC, an Illinois limited
liability company formed in 2005 and an affiliate of the Sponsor. FTP
Services LLC acts as record keeper, shareholder servicing agent and
distribution agent for Units which are purchased and sold through the
Fund/SERV(R) trading system or on a manual basis through FTP Services
LLC. FTP Services LLC provides FTPS Units with administrative and
distribution related services as described in this prospectus. The FTPS
Unit Servicing Agent's address is 1001 Warrenville Road, Lisle, Illinois
60532. If you have questions regarding the FTPS Units, you may call the
FTPS Unit Servicing Agent at (866) 514-7768. The FTPS Unit Servicing
Agent has not participated in selecting the Securities; it only provides
administrative services to the FTPS Units. Fund/SERV(R) is a service of
National Securities Clearing Corporation, a subsidiary of The Depository
Trust & Clearing Corporation.
Limitations of Liabilities of Sponsor, FTPS Unit Servicing Agent and
Trustee.
Neither we, the FTPS Unit Servicing Agent nor the Trustee will be liable
for taking any action or for not taking any action in good faith
according to the Indenture. We will also not be accountable for errors
in judgment. We will only be liable for our own willful misfeasance, bad
faith, gross negligence (ordinary negligence in the FTPS Unit Servicing
Agent and Trustee's case) or reckless disregard of our obligations and
duties. The Trustee is not liable for any loss or depreciation when the
Securities are sold. If we fail to act under the Indenture, the Trustee
may do so, and the Trustee will not be liable for any action it takes in
good faith under the Indenture.
The Trustee will not be liable for any taxes or other governmental
charges or interest on the Securities which the Trustee may be required
to pay under any present or future law of the United States or of any
other taxing authority with jurisdiction. Also, the Indenture states
other provisions regarding the liability of the Trustee.
If we do not perform any of our duties under the Indenture or are not
able to act or become bankrupt, or if our affairs are taken over by
public authorities, then the Trustee may:
- - Appoint a successor sponsor, paying them a reasonable rate not more
than that stated by the SEC;
- - Terminate the Indenture and liquidate the Trusts; or
- - Continue to act as Trustee without terminating the Indenture.
The Evaluator.
The Evaluator is First Trust Advisors L.P., an Illinois limited
partnership formed in 1991 and an affiliate of the Sponsor. The
Evaluator's address is 1001 Warrenville Road, Lisle, Illinois 60532.
The Trustee, Sponsor, FTPS Unit Servicing Agent and Unit holders may
rely on the accuracy of any evaluation prepared by the Evaluator. The
Evaluator will make determinations in good faith based upon the best
available information, but will not be liable to the Trustee, Sponsor,
FTPS Unit Servicing Agent or Unit holders for errors in judgment.
Other Information
Legal Opinions.
Our counsel is Chapman and Cutler LLP, 111 W. Monroe St., Chicago,
Illinois, 60603. They have passed upon the legality of the Units offered
hereby and certain matters relating to federal tax law. Carter Ledyard &
Milburn LLP acts as the Trustee's counsel, as well as special New York
tax counsel for the Trusts.
Experts.
The Trusts' statements of net assets, including the schedules of
investments, as of the opening of business on the Initial Date of
Deposit included in this prospectus, have been audited by Deloitte &
Touche LLP, an independent registered public accounting firm, as stated
in their report appearing herein, and are included in reliance upon the
report of such firm given upon their authority as experts in accounting
and auditing.
Supplemental Information.
If you write or call the Sponsor, you will receive free of charge
supplemental information about this Series, which has been filed with
the SEC and to which we have referred throughout. This information
states more specific details concerning the nature, structure and risks
of this product.
Page 26
This page is intentionally left blank.
Page 27
First Trust(R)
Global Agriculture Portfolio Series
Nuclear Energy Portfolio Series
FT 1483
Sponsor:
FIRST TRUST PORTFOLIOS L.P.
1001 Warrenville Road
Lisle, Illinois 60532
1-630-241-4141
FTPS Unit Servicing Agent: Trustee:
FTP Services LLC The Bank of New York
1001 Warrenville Road 101 Barclay Street
Lisle, Illinois 60532 New York, New York 10286
1-866-514-7768 1-800-813-3074
24-Hour Pricing Line:
1-800-446-0132
________________________
When Units of the Trusts are no longer available, this prospectus may be
used as a preliminary prospectus
for a future series, in which case you should note the following:
THE INFORMATION IN THE PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE
MAY NOT SELL, OR ACCEPT OFFERS TO BUY, SECURITIES OF A FUTURE SERIES
UNTIL THAT SERIES HAS BECOME EFFECTIVE WITH THE SECURITIES AND EXCHANGE
COMMISSION. NO SECURITIES CAN BE SOLD IN ANY STATE WHERE A SALE WOULD BE
ILLEGAL.
________________________
This prospectus contains information relating to the above-mentioned
unit investment trust, but does not contain all of the information about
this investment company as filed with the SEC in Washington, D.C. under
the:
- - Securities Act of 1933 (file no. 333-______) and
- - Investment Company Act of 1940 (file no. 811-05903)
Information about the Trusts, including their Codes of Ethics, can be
reviewed and copied at the SEC's Public Reference Room in Washington
D.C. Information regarding the operation of the SEC's Public Reference
Room may be obtained by calling the SEC at 1-202-942-8090.
Information about the Trusts is available on the EDGAR Database on the
SEC's Internet site at
http://www.sec.gov.
To obtain copies at prescribed rates -
Write: Public Reference Section of the SEC
100 F Street, N.E.
Washington, D.C. 20549
e-mail address: publicinfo@sec.gov
July __, 2007
PLEASE RETAIN THIS PROSPECTUS FOR FUTURE REFERENCE
Page 28
First Trust(R)
The FT Series
Information Supplement
This Information Supplement provides additional information concerning
the structure, operations and risks of the unit investment trust
contained in FT 1483 not found in the prospectus for the Trust. This
Information Supplement is not a prospectus and does not include all of
the information you should consider before investing in the Trust. This
Information Supplement should be read in conjunction with the prospectus
for the Trust in which you are considering investing.
This Information Supplement is dated July __, 2007. Capitalized terms
have been defined in the prospectus.
Table of Contents
Risk Factors
Securities 1
Small-Cap Companies 1
Dividends 1
Foreign Issuers 1
Concentrations
Agribusiness 2
Consumer Products 3
Industrials 3
Materials 3
Nuclear Energy 3
Portfolios
Global Agriculture Portfolio Series 4
Nuclear Energy Portfolio Series 4
Risk Factors
Securities. An investment in Units should be made with an understanding
of the risks which an investment in common stocks entails, including the
risk that the financial condition of the issuers of the Securities or
the general condition of the relevant stock market may worsen, and the
value of the Securities and therefore the value of the Units may
decline. Common stocks are especially susceptible to general stock
market movements and to volatile increases and decreases of value, as
market confidence in and perceptions of the issuers change. These
perceptions are based on unpredictable factors, including expectations
regarding government, economic, monetary and fiscal policies, inflation
and interest rates, economic expansion or contraction, and global or
regional political, economic or banking crises. Both U.S. and foreign
markets have experienced substantial volatility and significant declines
recently as a result of certain or all of these factors.
Small-Cap Companies. While historically small-cap company stocks have
outperformed the stocks of large companies, the former have customarily
involved more investment risk as well. Small-cap companies may have
limited product lines, markets or financial resources; may lack
management depth or experience; and may be more vulnerable to adverse
general market or economic developments than large companies. Some of
these companies may distribute, sell or produce products which have
recently been brought to market and may be dependent on key personnel.
The prices of small company securities are often more volatile than
prices associated with large company issues, and can display abrupt or
erratic movements at times, due to limited trading volumes and less
publicly available information. Also, because small-cap companies
normally have fewer shares outstanding and these shares trade less
frequently than large companies, it may be more difficult for the Trusts
which contain these Securities to buy and sell significant amounts of
such shares without an unfavorable impact on prevailing market prices.
Dividends. Shareholders of common stocks have rights to receive payments
from the issuers of those common stocks that are generally subordinate
to those of creditors of, or holders of debt obligations or preferred
stocks of, such issuers. Common stocks do not represent an obligation of
the issuer and, therefore, do not offer any assurance of income or
provide the same degree of protection of capital as do debt securities.
The issuance of additional debt securities or preferred stock will
create prior claims for payment of principal, interest and dividends
Page 1
which could adversely affect the ability and inclination of the issuer
to declare or pay dividends on its common stock or the rights of holders
of common stock with respect to assets of the issuer upon liquidation or
bankruptcy.
Foreign Issuers. Since certain of the Securities included in each of the
Trusts consist of securities of foreign issuers, an investment in the
Trusts involves certain investment risks that are different in some
respects from an investment in a trust which invests entirely in the
securities of domestic issuers. These investment risks include future
political or governmental restrictions which might adversely affect the
payment or receipt of payment of dividends on the relevant Securities,
the possibility that the financial condition of the issuers of the
Securities may become impaired or that the general condition of the
relevant stock market may worsen (both of which would contribute
directly to a decrease in the value of the Securities and thus in the
value of the Units), the limited liquidity and relatively small market
capitalization of the relevant securities market, expropriation or
confiscatory taxation, economic uncertainties and foreign currency
devaluations and fluctuations. In addition, for foreign issuers that are
not subject to the reporting requirements of the Securities Exchange Act
of 1934, there may be less publicly available information than is
available from a domestic issuer. Also, foreign issuers are not
necessarily subject to uniform accounting, auditing and financial
reporting standards, practices and requirements comparable to those
applicable to domestic issuers. The securities of many foreign issuers
are less liquid and their prices more volatile than securities of
comparable domestic issuers. In addition, fixed brokerage commissions
and other transaction costs on foreign securities exchanges are
generally higher than in the United States and there is generally less
government supervision and regulation of exchanges, brokers and issuers
in foreign countries than there is in the United States. However, due to
the nature of the issuers of the Securities selected for the Trust, the
Sponsor believes that adequate information will be available to allow
the Supervisor to provide portfolio surveillance for the Trust.
Securities issued by non-U.S. issuers generally pay dividends in foreign
currencies and are principally traded in foreign currencies. Therefore,
there is a risk that the U.S. dollar value of these securities will vary
with fluctuations in the U.S. dollar foreign exchange rates for the
various Securities.
On the basis of the best information available to the Sponsor at the
present time, none of the Securities in the Trust are subject to
exchange control restrictions under existing law which would materially
interfere with payment to the Trust of dividends due on, or proceeds
from the sale of, the Securities. However, there can be no assurance
that exchange control regulations might not be adopted in the future
which might adversely affect payment to the Trust. The adoption of
exchange control regulations and other legal restrictions could have an
adverse impact on the marketability of international securities in the
Trust and on the ability of the Trust to satisfy its obligation to
redeem Units tendered to the Trustee for redemption. In addition,
restrictions on the settlement of transactions on either the purchase or
sale side, or both, could cause delays or increase the costs associated
with the purchase and sale of the foreign Securities and correspondingly
could affect the price of the Units.
Investors should be aware that it may not be possible to buy all
Securities at the same time because of the unavailability of any
Security, and restrictions applicable to the Trust relating to the
purchase of a Security by reason of the federal securities laws or
otherwise.
Foreign securities generally have not been registered under the
Securities Act of 1933 and may not be exempt from the registration
requirements of such Act. Sales of non-exempt Securities by the Trust in
the United States securities markets are subject to severe restrictions
and may not be practicable. Accordingly, sales of these Securities by
the Trust will generally be effected only in foreign securities markets.
Although the Sponsor does not believe that the Trust will encounter
obstacles in disposing of the Securities, investors should realize that
the Securities may be traded in foreign countries where the securities
markets are not as developed or efficient and may not be as liquid as
those in the United States. The value of the Securities will be
adversely affected if trading markets for the Securities are limited or
absent.
Concentrations
Agribusiness. An investment in Global Agriculture Portfolio Series
should be made with an understanding of the problems and risks inherent
in an investment in the agribusiness sector in general. These include
the cyclicality of revenues and earnings, changing consumer demands,
regulatory restrictions, product liability litigation and other
litigation resulting from accidents, extensive competition (including
that of low-cost foreign competition), weather conditions, quotas,
government subsidies, unfunded pension fund liabilities and employee and
retiree benefit costs and financial deterioration resulting from
leveraged buy-outs, takeovers or acquisitions. In general, the
agribusiness sector will be affected by the economic health of
consumers. A weak economy with its consequent effect on consumer
spending would have an adverse effect on agribusiness companies. Other
factors of particular relevance to the profitability of the sector are
Page 2
the effects of increasing environmental regulation on packaging and on
waste disposal, the continuing need to conform with foreign regulations
governing packaging and the environment, the outcome of trade
negotiations and the effect on foreign subsidies and tariffs, foreign
exchange rates, the price of oil and its effect on energy costs,
inventory cutbacks by retailers, transportation and distribution costs,
health concerns relating to the consumption of certain products, the
effect of demographics on consumer demand, the availability and cost of
raw materials and the ongoing need to develop new products and to
improve productivity.
Agribusiness companies may also be affected by the volatility of
commodity prices, exchange rates, import controls, depletion of
resources, and mandated expenditures for safety and pollution control
devices. In addition, they may be adversely affected by technical
progress and labor relations. These companies are also at risk for
environmental damage and product liability claims.
Consumer Products. An investment in the Global Agriculture Portfolio
Series should also be made with an understanding of the problems and
risks inherent in an investment in the consumer products sector in
general. These include the cyclicality of revenues and earnings,
changing consumer demands, regulatory restrictions, product liability
litigation and other litigation resulting from accidents, extensive
competition (including that of low-cost foreign competition), unfunded
pension fund liabilities and employee and retiree benefit costs and
financial deterioration resulting from leveraged buy-outs, takeovers or
acquisitions. In general, expenditures on consumer products will be
affected by the economic health of consumers. A weak economy with its
consequent effect on consumer spending would have an adverse effect on
consumer products companies. Other factors of particular relevance to
the profitability of the sector are the effects of increasing
environmental regulation on packaging and on waste disposal, the
continuing need to conform with foreign regulations governing packaging
and the environment, the outcome of trade negotiations and the effect on
foreign subsidies and tariffs, foreign exchange rates, the price of oil
and its effect on energy costs, inventory cutbacks by retailers,
transportation and distribution costs, health concerns relating to the
consumption of certain products, the effect of demographics on consumer
demand, the availability and cost of raw materials and the ongoing need
to develop new products and to improve productivity.
Industrials. The Nuclear Energy Portfolio Series is considered to be
concentrated in common stocks of industrial companies. The profitability
of industrial companies will be affected by various factors including
the general state of the economy, intense competition, domestic and
international politics, excess capacity and spending trends.
The Internet may also influence the industrial market. Customers' desire
for better pricing and convenience, as well as manufacturers' desire to
boost profitability by finding new avenues of sales growth and
productivity gains, may drive many industrial manufacturers to invest
heavily in Internet hardware and software. Because the Internet allows
manufacturers to take orders directly from customers, thus eliminating
the middlemen from both supply chains and distributors, industrial
makers may no longer need traditional third-party outfits to distribute
their products. In addition, the Internet may also allow industrial
manufacturers to cut inventory levels, by enabling customers to tailor
their orders to their specific needs.
Industrial companies may also be affected by factors more specific to
their individual industries. Industrial machinery manufacturers may be
subject to declines in consumer demand and the need for modernization.
Agricultural equipment businesses may be influenced by fluctuations in
farm income, farm commodity prices, government subsidies and weather
conditions. The number of housing starts, levels of public and non-
residential construction including weakening demand for new office and
retail space, and overall construction spending may adversely affect
construction equipment manufacturers, while overproduction,
consolidation and weakening global economies may lead to deteriorating
sales for truck makers.
Materials. An investment in Global Agriculture Portfolio Series should
also be made with an understanding of the problems and risks inherent in
an investment in the materials sector in general. Companies in the
materials sector are involved in the production of aluminum, chemicals,
commodities, chemicals specialty products, forest products, non-ferrous
mining products, paper products, precious metals and steel. Basic
materials companies may be affected by the volatility of commodity
prices, exchange rates, import controls, worldwide competition,
depletion of resources, and mandated expenditures for safety and
pollution control devices. In addition, they may be adversely affected
by technical progress, labor relations, and governmental regulation.
These companies are also at risk for environmental damage and product
liability claims. Production of industrial materials often exceeds
demand as a result of over-building or economic downturns, which may
lead to poor investment returns.
Nuclear Energy. An investment in the Nuclear Energy Portfolio Series
should also be made with an understanding of the problems and risks
inherent in an investment in the nuclear energy sector. Companies in the
nuclear energy sector face considerable risk as a result of, among
others, incidents and accidents, breaches of security, ill-intentioned
acts or terrorism, air crashes, natural disasters (such as floods or
earthquakes), equipment malfunctions or mishandling in storage,
handling, transportation, treatment or conditioning of substances and
nuclear materials. Such events could have serious consequences,
especially in the case of radioactive contamination and irradiation of
Page 3
the environment, for the general population, as well as a material,
negative impact on these companies. Nuclear activity is also subject to
particularly detailed and restrictive regulations, with a scheme for the
monitoring and periodic re-examination of operating authorizations,
which primarily takes into account nuclear safety, environmental and
public health protection, and also national safety considerations
(terrorist threats in particular). These regulations may be subject to
significant tightening by national and international authorities. This
could result in increased operating costs, which would have a negative
impact on companies in this sector.
Portfolios
Equity Securities Selected for Global Agriculture Portfolio Series
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Equity Securities Selected for Nuclear Energy Portfolio Series
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Page 4
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We have obtained the foregoing descriptions from sources we deem
reliable. We have not independently verified the provided information
either in terms of accuracy or completeness.
Page 5
MEMORANDUM
Re: FT 1483
The only difference of consequence (except as described
below) between FT 1438, which is the current fund, and FT 1483,
the filing of which this memorandum accompanies, is the change in
the series number. The list of securities comprising the Fund,
the evaluation, record and distribution dates and other changes
pertaining specifically to the new series, such as size and
number of Units in the Fund and the statement of condition of the
new Fund, will be filed by amendment.
1940 ACT
FORMS N-8A AND N-8B-2
These forms were not filed, as the Form N-8A and Form N-8B-2
filed in respect of Templeton Growth and Treasury Trust, Series 1
and subsequent series (File No. 811-05903) related also to the
subsequent series of the Fund.
1933 ACT
PROSPECTUS
The only significant changes in the Prospectus from the FT
1438 Prospectus relate to the series number and size and the date
and various items of information which will be derived from and
apply specifically to the securities deposited in the Fund.
CONTENTS OF REGISTRATION STATEMENT
ITEM A Bonding Arrangements of Depositor:
First Trust Portfolios, L.P. is covered by a Broker's
Fidelity Bond, in the total amount of $2,000,000, the
insurer being National Union Fire Insurance Company of
Pittsburgh.
ITEM B This Registration Statement on Form S-6 comprises the
following papers and documents:
The facing sheet
The Prospectus
The signatures
Exhibits
S-1
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933,
the Registrant, FT 1483 has duly caused this Registration
Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the Village of Lisle and State of
Illinois on July 3, 2007.
FT 1483
(Registrant)
By: FIRST TRUST PORTFOLIOS, L.P.
(Depositor)
By: Jason T. Henry
Senior Vice President
S-2
Pursuant to the requirements of the Securities Act of 1933,
this Amendment to the Registration Statement has been signed
below by the following person in the capacity and on the date
indicated:
NAME TITLE* DATE
Judith M. Van Kampen Director )
of The Charger )
Corporation, the ) July 3, 2007
General Partner of )
First Trust )
Portfolios, L.P. )
Karla M. Van Kampen-Pierre Director )
of The Charger )
Corporation, the ) Jason T. Henry
General Partner of ) Attorney-in-Fact**
First Trust )
Portfolios, L.P. )
David G. Wisen Director )
of The Charger )
Corporation, the )
General Partner of )
First Trust )
Portfolios, L.P. )
* The title of the person named herein represents his
or her capacity in and relationship to First Trust
Portfolios, L.P., Depositor.
** An executed copy of the related power of attorney
was filed with the Securities and Exchange Commission in
connection with the Amendment No. 1 to Form S-6 of FT 597
(File No. 333-76518) and the same is hereby incorporated
herein by this reference.
S-3
CONSENTS OF COUNSEL
The consents of counsel to the use of their names in the
Prospectus included in this Registration Statement will be
contained in their respective opinions to be filed as Exhibits
3.1, 3.2 and 3.3 of the Registration Statement.
CONSENT OF DELOITTE & TOUCHE LLP
The consent of Deloitte & Touche LLP to the use of its name
and to the reference to such firm in the Prospectus included in
this Registration Statement will be filed by amendment.
CONSENT OF FIRST TRUST ADVISORS L.P.
The consent of First Trust Advisors L.P. to the use of its
name in the Prospectus included in the Registration Statement is
filed as Exhibit 4.1 to the Registration Statement.
S-4
EXHIBIT INDEX
1.1 Form of Standard Terms and Conditions of Trust for FT 785
among First Trust Portfolios, L.P., as Depositor, The
Bank of New York, as Trustee and First Trust Advisors
L.P., as Evaluator and Portfolio Supervisor.
(Incorporated by reference to Amendment No. 1 to Form S-6
[File No. 333-110799] filed on behalf of FT 785)
1.1.1* Form of Trust Agreement for FT 1483 among First Trust
Portfolios, L.P., as Depositor, The Bank of New York, as
Trustee and First Trust Advisors L.P., as Evaluator and
Portfolio Supervisor and FTP Services LLC, as FTPS Unit
Servicing Agent.
1.2 Copy of Certificate of Limited Partnership of First Trust
Portfolios, L.P. (incorporated by reference to Amendment
No. 1 to Form S-6 [File No. 33-42683] filed on behalf of
The First Trust Special Situations Trust, Series 18).
1.3 Copy of Amended and Restated Limited Partnership
Agreement of First Trust Portfolios, L.P. (incorporated
by reference to Amendment No. 1 to Form S-6 [File No.
33-42683] filed on behalf of The First Trust Special
Situations Trust, Series 18).
1.4 Copy of Articles of Incorporation of The Charger
Corporation, the general partner of First Trust
Portfolios, L.P., Depositor (incorporated by reference to
Amendment No. 1 to Form S-6 [File No. 33-42683] filed on
behalf of The First Trust Special Situations Trust,
Series 18).
1.5 Copy of By-Laws of The Charger Corporation, the general
partner of First Trust Portfolios, L.P., Depositor
(incorporated by reference to Amendment No. 1 to Form S-6
[File No. 33-42683] filed on behalf of The First Trust
Special Situations Trust, Series 18).
2.1 Copy of Certificate of Ownership (included in Exhibit 1.1
filed herewith on page 2 and incorporated herein by reference).
2.2 Copy of Code of Ethics (incorporated by reference to
Amendment No. 1 to form S-6 [File No. 333-31176] filed on behalf
of FT 415).
3.1* Opinion of counsel as to legality of Securities being
registered.
S-5
3.2* Opinion of counsel as to Federal income tax status of
Securities being registered.
3.3* Opinion of counsel as to New York income tax status of
Securities being registered.
4.1* Consent of First Trust Advisors L.P.
6.1 List of Directors and Officers of Depositor and other
related information (incorporated by reference to
Amendment No. 1 to Form S-6 [File No. 33-42683] filed on
behalf of The First Trust Special Situations Trust,
Series 18).
7.1 Power of Attorney executed by the Directors listed on
page S-3 of this Registration Statement (incorporated by
reference to Amendment No. 1 to Form S-6 [File No.
333-76518] filed on behalf of FT 597).
___________________________________
* To be filed by amendment.
S-6