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Tax Exempt Municipal Income Trust, Series 339
Ticker Symbol: FXIGNX
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Aggregate
Principal |
Name of Bond Issue |
S&P
Rating (1) |
Redemption
Provisions (2) |
$205,000 |
Brevard County Health Facilities Authority, Hospital Revenue, Series 2022A, (Health First Obligated Group), 5.00%, Due 04/01/2052 |
A |
2032 @ 100
2048 @ 100 S.F. |
170,000 |
Bucks County Industrial Development Authority, Hospital Revenue, Series 2021, (Saint Lukes University Health Network Project), 3.00%, Due 08/15/2053 |
A- |
2030 @ 100
2051 @ 100 S.F. |
390,000 |
Central Michigan University Board of Trustees, General Revenue, Series 2021, 3.00%, Due 10/01/2046 |
A+ |
2031 @ 100
2042 @ 100 S.F. |
450,000 |
Certificates of Participation, Series 2023A, Evidencing Undivided Proportionate Interests of the Owners thereof in Basic Lease Payments to be made by The School Board of Lee County, Florida, as Lessee, Pursuant to a Master Lease Purchase Agreement with Lee County School Board Leasing Corporation, as Lessor, 4.00%, Due 08/01/2046 (3) |
NR |
2033 @ 100
2044 @ 100 S.F. |
450,000 |
Certificates of Participation, Series 2025, Evidencing Proportionate Interests in the Base Rentals and other Revenues under an Annually Renewable Lease Purchase Agreement dated as of February 13, 2025, between U.S. Bank Trust Company, National Association, solely in its capacity as trustee under the Indenture, as lessor, and the City of Loveland, Colorado, as lessee, 4.50%, Due 12/01/2049 (3) |
AA- |
2034 @ 100
2045 @ 100 S.F. |
450,000 |
City of Corpus Christi, Texas, (A political subdivision of the State of Texas located in Nueces, San Patricio, Aransas and Kleberg Counties, Texas), Utility System Senior Lien Revenue Improvement and Refunding, Series 2023, 4.125%, Due 07/15/2053 (3) |
AA- |
2033 @ 100
2049 @ 100 S.F. |
950,000 |
City of Gainesville, Florida, Utilities System Revenue, 2021 Series A, Subseries A-2, 5.00%, Due 10/01/2051 |
A |
2031 @ 100
2047 @ 100 S.F. |
410,000 |
Clawson Public Schools, County of Oakland, State of Michigan, 2021 School Building and Site, (General Obligation - Unlimited Tax), 3.00%, Due 05/01/2045 |
AA |
2031 @ 100
2044 @ 100 S.F. |
725,000 |
College of Charleston, Charleston, South Carolina, Higher Education Facilities Revenue, Series 2025A, Assured Guaranty Insured, 4.25%, Due 04/01/2050 (3) (4) |
AA |
2035 @ 100
2046 @ 100 S.F. |
450,000 |
Colorado Bridge and Tunnel Enterprise, Senior Infrastructure Revenue, Series 2024A, Assured Guaranty Insured, 5.50%, Due 12/01/2054 (4) |
AA |
2034 @ 100
2050 @ 100 S.F. |
300,000 |
County of Union, North Carolina, Enterprise Systems Revenue, Series 2021, 3.00%, Due 06/01/2046 |
AA+ |
2031 @ 100
2044 @ 100 S.F. |
450,000 |
Dormitory Authority of the State of New York, Northwell Health Obligated Group, Revenue, Series 2024A, 4.00%, Due 05/01/2054 (3) |
A- |
2034 @ 100
2053 @ 100 S.F. |
210,000 |
The Health and Educational Facilities Board of the City of Cleveland, Tennessee, Revenue, (Hamilton Health Care System, Inc. Project), Series 2024A, 4.25%, Due 08/15/2054 (3) |
A+ |
2034 @ 100
2050 @ 100 S.F. |
100,000 |
The Hospital Facility Authority of Deschutes County, Oregon, Hospital Revenue, (St. Charles Health System, Inc.), Series 2020A (Tax-Exempt), 3.00%, Due 01/01/2051 (3) |
A |
2031 @ 100
2050 @ 100 S.F. |
450,000 |
Indiana Finance Authority, Health Facility Revenue, Series 2024, (Hendricks Regional Health), 5.25%, Due 03/01/2054 |
A- |
2034 @ 100
2050 @ 100 S.F. |
375,000 |
Lower Colorado River Authority, Transmission Contract Refunding Revenue, (LCRA Transmission Services Corporation Project), Series 2025, 5.00%, Due 05/15/2055 |
A |
2034 @ 100
2051 @ 100 S.F. |
450,000 |
Metropolitan Transportation Authority, Transportation Revenue, Series 2021A, 4.00%, Due 11/15/2050 |
A- |
2031 @ 100 |
725,000 |
National Finance Authority, Revenue, (Abilene Christian University Energy Projects), consisting of, Series 2024A, 5.00%, Due 11/01/2049 |
A- |
2034 @ 100
2046 @ 100 S.F. |
450,000 |
OklahomaTurnpike Authority, Oklahoma Turnpike System, Second Senior Revenue, Series 2025A, Assured Guaranty Insured, 4.25%, Due 01/01/2055 (3) (4) |
AA |
2035 @ 100 |
380,000 |
Orange County Health Facilities Authority, Hospital Revenue, (Orlando Health Obligated Group), Series 2022, 4.00%, Due 10/01/2052 |
A+ |
2032 @ 100
2043 @ 100 S.F. |
450,000 |
Pennsylvania Higher Educational Facilities Authority, The Trustees of the University of Pennsylvania, Revenue, Series A of 2025, 5.00%, Due 02/15/2055 |
AA+ |
2035 @ 100 |
220,000 |
The Public Building Authority of the City of Irondale (Alabama), Lease Revenue, Series 2024, 4.00%, Due 10/01/2053 (3) |
AA- |
2034 @ 100
2050 @ 100 S.F. |
850,000 |
United City of Yorkville, Kendall County, Illinois, General Obligation (Alternate Revenue Source), Series 2025B, 4.375%, Due 12/30/2048 (3) |
AA |
2034 @ 100
2046 @ 100 S.F. |
450,000 |
Valley View Local School District, Montgomery and Preble Counties, Ohio, School Facilities Construction and Improvement, Series 2021, (General Obligation - Unlimited Tax), 3.00%, Due 11/01/2045 |
AA+ |
2030 @ 100
2043 @ 100 S.F. |
(1) As of the Initial Date of Deposit. The ratings are by Standard & Poor’s and are unaudited. “NR” indicates no rating by Standard & Poor’s. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO), including Standard & Poor’s Rating Group, of the creditworthiness of an issuer with respect to debt obligations. Standard & Poor’s ratings are measured on a scale ranging from AAA (highest) to D (lowest). Sub-investment grade ratings are those rated BB+ or lower. Investment grade ratings are those rated BBB- or higher.
(2) Certain securities may be redeemed before their stated maturity. This column shows when a security is initially redeemable and the redemption price for that year. Securities are redeemable at declining prices (but not below par value) in subsequent years. S.F. indicates a sinking fund is established with respect to an issue of securities. Certain securities may also be redeemed in whole or in part other than by operation of the stated redemption provisions under certain circumstances detailed in the instruments creating them. Such redemption provisions may result in a redemption price less than the value of the securities on the Initial Date of Deposit. Estimated Current Return and Estimated Long-Term Return may also be affected by such redemptions.
(3) These securities were, or will be, issued at an original issue discount. See the prospectus for the issue dates and percentages of their original principal amount.
(4) Insurance has been obtained on this security. Such insurance coverage continues in force so long as a security is outstanding and the insurer remains in business. For securities with credit support from third party guarantees, the rating reflects the greater of the underlying rating of the issuer or the insured rating. See “Risk Factors” in the prospectus for a discussion of risks of investing in insured securities.
Not FDIC Insured • Not Bank Guaranteed • May Lose Value |
Deposit Information |
Date of Deposit |
2/20/2025 |
Estimated Organization Costs per Unit: |
0.601% |
Estimated Annual Trust Operating Expenses per Unit: |
0.255% |
CUSIP |
33741C520 |
Sales Charge |
3.50% up-front |
Wrap CUSIP |
33741C538 |
Wrap Sales Charge |
0.60% up-front |
Estimated organization costs will be deducted from the assets of the trust at the end of the initial
offering period.
Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per unit
basis. Actual expenses may be more or less than the estimates.
Trust Specifics (as of close of business on
2/20/25) |
Weighted Average Maturity:* |
26.1 years |
Initial Principal Amount (Par Value) of Securities: |
$1,000.00 per Unit |
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Standard Accounts: |
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Initial Public Offering Price |
$1,000.46 per Unit |
Estimated Current Return:** |
4.04% |
Estimated Long-Term Return:** |
3.95% |
Taxable Equivalent Estimated Current Return:*** |
6.82% |
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Fee/Wrap Accounts: |
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Initial Public Offering Price: |
$971.45 per Unit |
Estimated Current Return:** |
4.16% |
Estimated Long-Term Return:** |
4.16% |
Taxable Equivalent Estimated Current Return:*** |
7.03% |
*Weighted average maturity represents the average amount of time remaining until the bonds held in the
trust mature, taking into account each bond’s weight within the portfolio based on its market value.
**Estimated current return is calculated by dividing estimated net annual interest income per unit by the
public offering price. Estimated long-term return is calculated using a formula which (1) factors in the
relative weightings of the market values, yields and estimated retirements of the securities; and (2) takes
into account a compounding factor, the sales charge and expenses. There is no assurance that the returns
will be realized in the future because the various components used to calculate these figures will change. In
addition, neither rate reflects the true return you will receive, which will be lower, because neither includes
the effect of certain delays in distributions with respect to when the securities pay interest and when
distributions are paid by the trust.
***The taxable equivalent estimated current return is for illustrative purposes only. This information illustrates
approximately what you would have to earn on taxable investments to equal the tax-exempt estimated
current return using the highest federal tax bracket and Medicare tax for 2025. This information is based on
present law as of the date of publication and does not account for any proposed changes in tax rates. This
information does not account for limitations on deductions, the alternative minimum tax or taxes other than
Federal personal income tax.
Distributions
This unit investment trust seeks to distribute monthly income.
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Initial Distribution per Unit: |
$2.13 |
Estimated Regular Distribution per Unit: |
$3.37 |
Distributions, if any, are paid on the twenty-fifth day of each month to unit holders of record on the tenth
day of each month with the initial distribution per unit scheduled to occur on March 25, 2025 and estimated
regular distributions per unit scheduled to begin on April 25, 2025. The actual distribution you receive will
vary from that set forth above with changes in the portfolio’s fees and expenses and with the sale, maturity
or redemption of securities.
You should consider the portfolio's investment objectives, risks, and
charges and expenses carefully before investing. Contact your financial professional
or call First Trust Portfolios L.P. at 1.800.621.1675 to request a prospectus,
which contains this and other information about the portfolio. Read it carefully
before you invest.
Risk Considerations
An investment in this unmanaged unit investment trust should
be made with an understanding of the risks associated with an investment in municipal bonds.
Municipal bonds are subject to numerous risks including rising interest rates, economic
recession, deterioration of the municipal bond market, possible downgrades, increased volatility,
reduced liquidity and defaults of interest and/or principal.
Certain of the securities in the trust are covered by insurance policies obtained by the issuers or
underwriters of the bond from insurance companies. There can be no assurance that any
insurer will be able to satisfy its commitments in the event claims are made in the future.
This UIT is a buy and hold strategy and investors should consider their ability to hold the trust
until maturity.
The value of the securities held by the trust may be subject to steep declines or increased volatility
due to changes in performance or perception of the issuers. The markets for credit instruments,
including municipal securities, have experienced periods of extreme illiquidity and volatility.
As the use of Internet technology has become more prevalent in the course of business, the trust
has become more susceptible to potential operational risks through breaches in cybersecurity.
Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant
groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility
within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions
resulting from those hostilities could have a significant impact on certain investments as well as performance.
A public health crisis, and the ensuing policies enacted by governments and central banks in response, could cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects.
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CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2025 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.
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33741C520 |
(Cash) |
33741C538 |
(Cash-Wrap) |
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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