Closed-End National Municipal Portfolio Series 3

matured

Deposit Date: 2/19/2004
Non-Reoffered Date: 9/30/2004
Termination Date: 2/19/2009

Performance

as of 2/19/2009

Trust

Cumulative Total Return1 Average Annual Total Return2
Distributions Reinvested 3 Month 6 Month YTD Since Inception 1 Year 3 Year 5 Year Since Inception
With Transactional Sales Charge (18384Q282) 12.49% -11.71% 7.45% -7.05% -15.56% -4.77% -1.45% -1.45%
Without Transactional Sales Charge (18384Q290) 17.36% -7.71% 12.14% -2.72% -11.71% -3.33% -0.55% -0.55%
Distributions Received in Cash
With Transactional Sales Charge (18384Q274) 12.36% -11.94% 7.44% -5.73% -15.56% -4.34% -1.17% -1.17%
Without Transactional Sales Charge (Fee/Cash) 17.22% -7.95% 12.12% -1.34% -11.70% -2.89% -0.27% -0.27%

Benchmark

   
Barclays Capital Municipal Bond 4.36% 0.58% 4.73% 6.22% 1.68% 2.67%
to
Deposit Date: 2/19/2004
Non-Reoffered Date: 9/30/2004
Termination Date: 2/19/2009

Performance

between

Trust

Cumulative Total Return1 Average Annual Total Return2
Distributions Reinvested    
With Transactional Sales Charge (18384Q282) -7.05% -1.45%
Without Transactional Sales Charge (18384Q290) -2.72% -0.55%
Distributions Received in Cash    
With Transactional Sales Charge (18384Q274) -5.73% -1.17%
Without Transactional Sales Charge (Fee/Cash) -1.34% -0.27%

Benchmark

   
Barclays Capital Municipal Bond 6.22% 2.67%

Performance

as of 6/14/19

Cumulative Total Return1
(Since Inception*)
Average Annual Total Return2
(Since Inception*)
  Trust Deposit
Date
Maturity
Date
Distributions
Reinvested
Without
Transactional
Sales Charge
Distributions
Reinvested
With
Transactional
Sales Charge
Barclays Capital Municipal Bond Distributions
Reinvested
Without
Transactional
Sales Charge
Distributions
Reinvested
With
Transactional
Sales Charge
Barclays Capital Municipal Bond

This data is for information purposes only. Past performance does not guarantee future results and performance of one series does not represent potential performance of any subsequent series. *Performance data is only available once a trust has been in the primary market for one month.


Sales Charges

(based on $10 public offering price per unit)
Percentage of Public Offering Price
Initial Sales Charge1.00%
Deferred Sales Charge3.45%
Creation + Development Fee0.50%
Sales Fee4.95%
The deferred Sales Charge will be deducted in monthly installments on the last business day of Feb 2004, Sep 2004, Oct 2004 and Nov 2004 or upon early redemption. For unit prices other than the above offering price, percentages of initial sales charge, creation and development fee, and deferred sales charge will vary, but in no event will the maximun sales charge exceed 4.95% of the public offerring price. For trusts with a fully deferred sales charge, the initial sales charge will not vary. Early redemption of units will still cause payment of the deferred sales charge.

Risks and Other Considerations

1 Cumulative total return measures the terminal va