SEC Company Response from FT 8661 (CIK 0001799249) — Mar 30, 2020
FT 8661 (CIK 0001799249)
Date: March 30, 2020 · CIK: 0001799249 · Accession: 0001445546-20-001684
AI Filing Summary & Sentiment
File numbers found in text: 333-236938
Letter
Chapman and Cutler LLP 111 West Monroe Street Chicago, Illinois 60603 March 30, 2020 Mark Cowan U.S. Securities and Exchange Commission Division of Investment Management Disclosure Review Office 100 F Street, N.E. Washington, D.C. 20549
Re: FT 8661 FT Income Portfolio, Series 7 (the "Trust") CIK No. 1799249 File No. 333-236938 --------------------------------------------------------------------------------
Dear Mr. Cowan:
We received your comments regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.
COMMENTS
Registration Statement ----------------------
1. BECAUSE THE FINAL REGISTRATION STATEMENT FOR THE TRUST WILL BE FILED AFTER APRIL 1, 2020, PLEASE INCLUDE HYPERLINKS FOR THE EXHIBITS AND OTHER INFORMATION INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT, IF PUBLICLY AVAILABLE ON EDGAR. SEE RULES 411 UNDER THE SECURITIES ACT OF 1933 AND 0-4 UNDER THE INVESTMENT COMPANY ACT OF 1940. THE STAFF NOTES THAT ALL EXHIBIT LISTS (INCLUDING THE ONE REQUIRED IN PART C) MUST INCLUDE LINKS TO EVERY EXHIBIT FILED WITH THE REGISTRATION STATEMENT OR INCORPORATED BY REFERENCE. SEE INSTRUCTION 5 TO ITEM 28 OF FORM N-1A AND RULE 102(D) AND RULE 105(D) OF REGULATION S-T.
Response: The final Registration Statement for the Trust will be updated in accordance with this comment.
Risk Factors ------------
2. THE STAFF NOTES THAT SIGNIFICANT MARKET EVENTS HAVE OCCURRED SINCE THIS REGISTRATION STATEMENT WAS FILED AS A RESULT OF THE COVID-19 PANDEMIC. PLEASE CONSIDER WHETHER THE TRUST'S DISCLOSURES, INCLUDING RISK DISCLOSURES, SHOULD BE REVISED BASED ON HOW THESE EVENTS ARE AFFECTING BOTH DEBT AND EQUITY MARKETS. IF THE TRUST BELIEVES THAT NO ADDITIONAL DISCLOSURE IS WARRANTED, PLEASE EXPLAIN WHY NOT SUPPLEMENTALLY.
Response: The following disclosure will be included as the second paragraph of the "Current Economic Conditions" risk:
Local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on the Trust and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. Such events could adversely affect the prices and liquidity of the Trust's portfolio securities and could result in disruptions in the trading markets. Any such circumstances could have a materially negative impact on the value of the Trust's Units and result in increased market volatility. The recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December 2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.
3. PLEASE CONSIDER WHETHER "INTEREST RATE RISK" SHOULD BE UPDATED IN LIGHT OF CURRENT EVENTS.
Response: The Trust believes that the risks related to current events have been disclosed in the "Current Economic Conditions" risk.
We appreciate your prompt attention to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions please feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.
Very truly yours,
CHAPMAN AND CUTLER LLP
Show Raw Text
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<TEXT>
Chapman and Cutler LLP 111 West Monroe Street
Chicago, Illinois 60603
March 30, 2020
Mark Cowan
U.S. Securities and Exchange Commission
Division of Investment Management
Disclosure Review Office
100 F Street, N.E.
Washington, D.C. 20549
Re: FT 8661
FT Income Portfolio, Series 7
(the "Trust")
CIK No. 1799249 File No. 333-236938
--------------------------------------------------------------------------------
Dear Mr. Cowan:
We received your comments regarding the Registration Statement for the
above captioned Trust. This letter serves to respond to your comments.
COMMENTS
Registration Statement
----------------------
1. BECAUSE THE FINAL REGISTRATION STATEMENT FOR THE TRUST WILL BE FILED
AFTER APRIL 1, 2020, PLEASE INCLUDE HYPERLINKS FOR THE EXHIBITS AND OTHER
INFORMATION INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT, IF PUBLICLY
AVAILABLE ON EDGAR. SEE RULES 411 UNDER THE SECURITIES ACT OF 1933 AND 0-4 UNDER
THE INVESTMENT COMPANY ACT OF 1940. THE STAFF NOTES THAT ALL EXHIBIT LISTS
(INCLUDING THE ONE REQUIRED IN PART C) MUST INCLUDE LINKS TO EVERY EXHIBIT FILED
WITH THE REGISTRATION STATEMENT OR INCORPORATED BY REFERENCE. SEE INSTRUCTION 5
TO ITEM 28 OF FORM N-1A AND RULE 102(D) AND RULE 105(D) OF REGULATION S-T.
Response: The final Registration Statement for the Trust will be updated
in accordance with this comment.
Risk Factors
------------
2. THE STAFF NOTES THAT SIGNIFICANT MARKET EVENTS HAVE OCCURRED SINCE THIS
REGISTRATION STATEMENT WAS FILED AS A RESULT OF THE COVID-19 PANDEMIC. PLEASE
CONSIDER WHETHER THE TRUST'S DISCLOSURES, INCLUDING RISK DISCLOSURES, SHOULD BE
REVISED BASED ON HOW THESE EVENTS ARE AFFECTING BOTH DEBT AND EQUITY MARKETS. IF
THE TRUST BELIEVES THAT NO ADDITIONAL DISCLOSURE IS WARRANTED, PLEASE EXPLAIN
WHY NOT SUPPLEMENTALLY.
Response: The following disclosure will be included as the second
paragraph of the "Current Economic Conditions" risk:
Local, regional or global events such as war, acts of terrorism, spread of
infectious diseases or other public health issues, recessions, or other
events could have a significant negative impact on the Trust and its
investments. Such events may affect certain geographic regions, countries,
sectors and industries more significantly than others. Such events could
adversely affect the prices and liquidity of the Trust's portfolio
securities and could result in disruptions in the trading markets. Any
such circumstances could have a materially negative impact on the value of
the Trust's Units and result in increased market volatility. The recent
outbreak of a respiratory disease designated as COVID-19 was first
detected in China in December 2019. The global economic impact of the
COVID-19 outbreak is impossible to predict but is expected to disrupt
manufacturing, supply chains and sales in affected areas and negatively
impact global economic growth prospects. The COVID-19 outbreak has also
caused significant volatility and declines in global financial markets,
which have caused losses for investors. The impact of the COVID-19
outbreak may be short term or may last for an extended period of time, and
in either case could result in a substantial economic downturn or
recession.
3. PLEASE CONSIDER WHETHER "INTEREST RATE RISK" SHOULD BE UPDATED IN LIGHT
OF CURRENT EVENTS.
Response: The Trust believes that the risks related to current events have
been disclosed in the "Current Economic Conditions" risk.
We appreciate your prompt attention to this Registration Statement. If you
have any questions or comments or would like to discuss our responses to your
questions please feel free to contact Brian D. Free at (312) 845-3017 or the
undersigned at (312) 845-3721.
Very truly yours,
CHAPMAN AND CUTLER LLP
By /s/ Daniel J. Fallon
________________________
Daniel J. Fallon
</TEXT>
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