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This unit investment trust seeks a high rate of current income by investing in a diversified portfolio of preferred securities.
Please note that there is no assurance the objective will be met.
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Product Code: |
SPRI47 |
Portfolio Status: |
Primary |
Initial Offer Date: |
08/09/2024 |
Portfolio Ending Date: |
08/10/2026 |
Tax Structure: |
Regulated Investment Company |
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Initial Offer Price: |
$10.0000 |
NAV(*): |
$9.9594 |
POP(*): |
$10.1896 |
Remaining Deferred Sales Charge: |
$0.2250 |
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* As of Trade Date: 08/30/2024 4:00pm ET
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The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges.
The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.
Historical 12-Month Distribution of Trust Holdings:^ |
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^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month
distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative
of the trust's distribution or distribution rate. The historical 12-month
distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical
12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and
rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. PLEASE NOTE: The historical distribution rate is calculated using only the holdings that have 12 months of distribution history. As of 8/30/2024, there were 8 holdings without the required 12-month distribution history which were excluded from the calculation, representing 14.85% of the aggregate market value of the portfolio.
Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be
higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by
issuers, actual expenses incurred, or the sale of securities in the portfolio. For trusts that include funds, distributions may include realized short term
capital gains, realized long-term capital gains and/or return of capital.
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Premium/Discount of Securities Held in the Portfolio |
Weighted Average Premium/Discount
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-6.93%
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As of 8/30/2024
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A premium occurs when an underlying security's market price is higher than its net asset value (or par value in the case of preferred securities), and a discount occurs when an underlying security's market price is lower than its net asset value (or par value in the case of preferred securities).
Wells Fargo & Company, Series Z, 4.750%
| WFC.Z |
2.96%
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The Allstate Corporation, Series J, 7.375%
| ALL.J |
2.96%
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Morgan Stanley, Series P, 6.500%
| MS.P |
2.95%
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Reinsurance Group of America, Incorporated, 7.125%, Variable Rate, Due 10/15/2052
| RZC |
2.95%
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SCE Trust VII, Series M, 7.50%
| SCE.M |
2.91%
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Voya Financial, Inc., Series B, 5.350%, Variable Rate
| VOYA.B |
2.52%
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The Charles Schwab Corporation, Series J, 4.450%
| SCHW.J |
2.52%
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AT&T Inc., Series A, 5.000%
| T.A |
2.50%
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F&G Annuities & Life, Inc., 7.95%, Due 12/15/2053
| FGN |
2.44%
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Aegon Funding Company LLC, 5.100%, Due 12/15/2049
| AEFC |
2.23%
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U.S. Bancorp, Series O, 4.500%
| USB.S |
2.04%
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Bank of America Corporation, Series SS, 4.750%
| BAC.S |
2.02%
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Citizens Financial Group, Inc., 7.375%
| CFG.H |
2.02%
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M&T Bank Corporation, Series J, 7.50%
| MTB.J |
2.02%
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Capital One Financial Corporation, Series J, 4.800%
| COF.J |
2.01%
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AT&T Inc., Series C, 4.750%
| T.C |
2.00%
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Truist Financial Corporation, Series R, 4.750%
| TFC.R |
2.00%
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Bank of America Corporation, Series NN, 4.375%
| BAC.O |
2.00%
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U.S. Bancorp, Series K, 5.500%
| USB.P |
1.99%
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Prudential Financial, Inc., 4.125%, Due 09/01/2060
| PFH |
1.99%
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Huntington Bancshares Incorporated, Series J, 6.875% Variable Rate
| HBANL |
1.98%
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Affiliated Managers Group, Inc., 6.75%, Due 03/30/2064
| MGRE |
1.98%
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Public Storage, Series P, 4.000%
| PSA.P |
1.93%
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Prudential Financial, Inc., 5.950%, Due 09/01/2062
| PRH |
1.93%
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The Southern Company, Series C, 4.200%, Due 10/15/2060
| SOJE |
1.77%
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MetLife, Inc., Series F, 4.750%
| MET.F |
1.74%
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RenaissanceRe Holdings Ltd., Series G, 4.200%
| RNR.G |
1.69%
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Carlyle Finance LLC, 4.625%, Due 05/15/2061
| CGABL |
1.56%
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Keycorp, Series, 6.200%, Variable Rate
| KEY.L |
1.55%
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Sempra, 5.750%, Due 07/01/2079
| SREA |
1.53%
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JPMorgan Chase & Co., Series GG, 4.750%
| JPM.J |
1.52%
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The Southern Company, Series 2020, 4.950%, Due 01/30/2080
| SOJD |
1.52%
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Equitable Holdings, Inc., Series A, 5.250%
| EQH.A |
1.51%
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DTE Energy Company, 4.375%, Due 12/01/2081
| DTG |
1.51%
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JPMorgan Chase & Co., Series JJ, 4.550%
| JPM.K |
1.50%
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Ford Motor Company, 6.500%, Due 08/15/2062
| F.D |
1.50%
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Truist Financial Corporation, Series O, 5.250%
| TFC.O |
1.49%
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TPG Operating Group II, L.P., 6.950%, Due 03/15/2064
| TPGXL |
1.47%
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Apollo Global Management, Inc., 7.625% Variable Rate, Due 09/15/2053
| APOS |
1.44%
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KKR Group Finance Co. IX LLC, 4.625%, Due 04/01/2061
| KKRS |
1.28%
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W.R. Berkley Corporation, 5.100%, Due 12/30/2059
| WRB.F |
1.26%
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Arch Capital Group Ltd., Series G, 4.550%
| ACGLN |
1.26%
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Jackson Financial Inc., 8.000%, Variable Rate
| JXN.A |
1.25%
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JPMorgan Chase & Co., Series LL, 4.625%
| JPM.L |
1.02%
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Morgan Stanley, Series K, 5.850%, Variable Rate
| MS.K |
1.00%
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Brookfield BRP Holdings (Canada) Inc., 4.625%
| BEPH |
1.00%
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Regions Financial Corporation, Series E, 4.450%
| RF.E |
1.00%
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Athene Holding Ltd., 7.25% Variable Rate, Due 03/30/2064
| ATHS |
1.00%
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Public Storage, Series M, 4.125%
| PSA.M |
0.99%
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Wells Fargo & Company, Series AA, 4.700%
| WFC.A |
0.99%
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Regions Financial Corporation, 6.95% Variable Rate
| RF.F |
0.99%
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United States Cellular Corporation, 5.500%, Due 03/01/2070
| UZE |
0.98%
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United States Cellular Corporation, 5.500%, Due 06/01/2070
| UZF |
0.98%
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Athene Holding Ltd., Series E, 7.750% Variable Rate
| ATH.E |
0.98%
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Assurant, Inc., 5.250%, Due 01/15/2061
| AIZN |
0.97%
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Lincoln National Corporation, Series D, 9.000%
| LNC.D |
0.96%
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Public Storage, Series L, 4.625%
| PSA.L |
0.76%
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United States Cellular Corporation, 6.250%, Due 09/01/2069
| UZD |
0.74%
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Stifel Financial Corp., Series C, 6.125%
| SF.C |
0.50%
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CMS Energy Corp., Series C, 4.200%
| CMS.C |
0.50%
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Affiliated Managers Group, Inc., 4.200%, Due 09/30/2061
| MGRD |
0.50%
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Athene Holding Ltd., Series A, 6.35% Variable Rate
| ATH.A |
0.49%
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Total Number of Holdings: 62 |
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Underlying Securities information represented above is as of 08/30/2024 but will vary with future fluctuations in the market. |
Standard Account Sales Charges * |
Transactional sales charges: |
Initial: |
0.05% |
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Deferred: |
2.21% |
C&D Fee: |
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0.49% |
Maximum Sales Charge: |
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2.75% |
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30337G485 |
Cash |
Monthly |
30337G493 |
Reinvest |
Monthly |
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* Based on the offer price as of 08/30/2024 4:00pm ET |
Fee/Wrap Account Sales Charges * |
C&D Fee: |
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0.50% |
Maximum Sales Charge: |
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0.50% |
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30337G501 |
Cash-Fee |
Monthly |
30337G519 |
Reinvest-Fee |
Monthly |
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* Based on the NAV price as of 08/30/2024 4:00pm ET |
In addition to the sales charges listed, UITs for both brokerage and advisory accounts are subject to annual operating expenses and organization costs. See the prospectus for additional information.
Deferred Sales Charge Schedule |
$0.07500
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November 20, 2024
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$0.07500
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December 20, 2024
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$0.07500
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January 17, 2025
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Risk Considerations Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market. Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan. COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease. Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers. High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree. Market Disruption Risk. 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. REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession. Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information. Volatility Risk. 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. Operational Risk. 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.
You should carefully consider the trust's investment objectives, risks, and charges and expenses 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 trust. Read it carefully before you invest.
This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.
Not FDIC Insured, Not Bank Guaranteed and May Lose Value.
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, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.
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30337G485 |
(Cash) |
30337G493 |
(Reinvest) |
30337G501 |
(Cash-Fee) |
30337G519 |
(Reinvest-Fee) |
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