Stonebridge Preferred Income, 49  Ticker: FLLEVX
 
Description
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.
 
Summary
Product Code: SPRI49
Portfolio Status: Secondary
Initial Offer Date: 02/04/2025
Secondary Date: 03/14/2025
Portfolio Ending Date: 02/04/2027
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.5849
POP(*): $9.8045
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 03/13/2025 4:00pm ET
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:^
Rate (as of 3/13/2025) Per Unit (as of 3/10/2025)
4.73% $0.46410
^ 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 3/10/2025, there were 8 holdings without the required 12-month distribution history which were excluded from the calculation, representing 16.80% 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.

 Premium/Discount of Securities Held in the Portfolio
Weighted Average Premium/Discount -10.08%
As of 3/10/2025
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).

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 The Allstate Corporation, Series J, 7.375% ALL.J 3.06%
 Corebridge Financial, Inc., 6.375%, Due 12/15/2064 CRBD 3.04%
 Reinsurance Group of America, Incorporated, 7.125%, Variable Rate, Due 10/15/2052 RZC 2.98%
 The Southern Company, 6.50%, Due 03/15/2085 SOJF 2.96%
 Voya Financial, Inc., Series B, 5.350%, Variable Rate VOYA.B 2.53%
 F&G Annuities & Life, Inc., 7.950%, Due 12/15/2053 FGN 2.48%
 The Charles Schwab Corporation, Series J, 4.450% SCHW.J 2.45%
 AT&T Inc., Series C, 4.750% T.C 2.08%
 AT&T Inc., Series A, 5.000% T.A 2.07%
 Public Storage, Series P, 4.000% PSA.P 2.02%
 U.S. Bancorp, Series K, 5.500% USB.P 2.01%
 Capital One Financial Corporation, Series J, 4.800% COF.J 2.01%
 Bank of America Corporation, Series SS, 4.750% BAC.S 2.01%
 Wells Fargo & Company, Series Z, 4.75% WFC.Z 2.00%
 Prudential Financial, Inc., 5.950%, Due 09/01/2062 PRH 2.00%
 Huntington Bancshares Incorporated, Series J, 6.875% Variable Rate HBANL 2.00%
 Affiliated Managers Group, Inc., 6.75%, Due 03/30/2064 MGRE 2.00%
 Citizens Financial Group, Inc., 7.375% CFG.H 2.00%
 Morgan Stanley, Series Q, 6.625% MS.Q 2.00%
 M&T Bank Corporation, Series J, 7.50% MTB.J 2.00%
 Bank of America Corporation, Series NN, 4.375% BAC.O 1.99%
 United States Cellular Corporation, 5.500%, Due 03/01/2070 UZE 1.99%
 United States Cellular Corporation, 5.500%, Due 06/01/2070 UZF 1.99%
 U.S. Bancorp, Series O, 4.500% USB.S 1.99%
 Aegon Funding Company LLC, 5.100%, Due 12/15/2049 AEFC 1.97%
 Truist Financial Corporation, Series R, 4.750% TFC.R 1.97%
 Prudential Financial, Inc., 4.125%, Due 09/01/2060 PFH 1.97%
 Sempra, 5.750%, Due 07/01/2079 SREA 1.95%
 Ford Motor Company, 6.20%, Due 06/01/2059 F.B 1.94%
 TPG Operating Group II, L.P., 6.950%, Due 03/15/2064 TPGXL 1.53%
 Athene Holding Ltd., 7.25% Variable Rate, Due 03/30/2064 ATHS 1.53%
 JPMorgan Chase & Co., Series JJ, 4.550% JPM.K 1.51%
 Keycorp, Series, 6.200%, Variable Rate KEY.L 1.51%
 American National Group Inc., Series D, 7.375% ANG.D 1.51%
 JPMorgan Chase & Co., Series GG, 4.750% JPM.J 1.50%
 Apollo Global Management, Inc., 7.625%, Variable Rate, Due 09/15/2053 APOS 1.50%
 MetLife, Inc., Series F, 4.750% MET.F 1.48%
 Truist Financial Corporation, Series O, 5.250% TFC.O 1.48%
 Equitable Holdings, Inc., Series A, 5.250% EQH.A 1.47%
 DTE Energy Company, 4.375%, Due 12/01/2081 DTG 1.46%
 Regions Financial Corporation, 6.95% Variable Rate RF.F 1.25%
 W.R. Berkley Corporation, 5.100%, Due 12/30/2059 WRB.F 1.23%
 SCE Trust VII, Series M, 7.50% SCE.M 1.03%
 Morgan Stanley, Series K, 5.850%, Variable Rate MS.K 1.01%
 The Southern Company, Series 2020, 4.950%, Due 01/30/2080 SOJD 1.01%
 JPMorgan Chase & Co., Series LL, 4.625% JPM.L 1.01%
 Morgan Stanley, Series P, 6.500% MS.P 1.01%
 Public Storage, Series M, 4.125% PSA.M 1.00%
 Regions Financial Corporation, Series E, 4.450% RF.E 1.00%
 Lincoln National Corporation, Series D, 9.000% LNC.D 1.00%
 Arch Capital Group Ltd., Series G, 4.550% ACGLN 0.99%
 RenaissanceRe Holdings Ltd., Series G, 4.200% RNR.G 0.99%
 Wells Fargo & Company, Series AA, 4.700% WFC.A 0.99%
 KKR Group Finance Co. IX LLC, 4.625%, Due 04/01/2061 KKRS 0.98%
 Carlyle Finance LLC, 4.625%, Due 05/15/2061 CGABL 0.97%
 Jackson Financial Inc., 8.000%, Variable Rate JXN.A 0.97%
 Assurant, Inc., 5.250%, Due 01/15/2061 AIZN 0.96%
 Athene Holding Ltd., Series A, 6.35% Variable Rate ATH.A 0.51%
 Public Storage, Series L, 4.625% PSA.L 0.51%
 Affiliated Managers Group, Inc., 4.200%, Due 09/30/2061 MGRD 0.50%
 Athene Holding Ltd., Series E, 7.750% Variable Rate ATH.E 0.50%
 CMS Energy Corporation, Series C, 4.20% CMS.C 0.49%
 
Total Number of Holdings:    62
Underlying Securities information represented above is as of 03/13/2025 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 May 20, 2025
$0.07500 June 20, 2025
$0.07500 July 18, 2025

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.

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 should be viewed as speculative and you should review your ability to assume the risks associated with investments that utilize such bonds. 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 bonds 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.

Public Health Crisis Risk. 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.

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.

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