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Richard Bernstein Advisors Quality Income, 24  Ticker: FPCMLX
 
Description
A unit investment trust that seeks total return through a combination of dividend income and capital appreciation. The stocks are selected for the trust by Richard Bernstein Advisors LLC using their comprehensive Quality Income strategy.
 
Summary
Product Code: RBAQ24
Portfolio Status: Primary
Initial Offer Date: 02/03/2017
Portfolio Ending Date: 05/03/2018
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.0194
POP(*): $10.2724
Remaining Deferred Sales Charge: $0.1450
* As of Trade Date: 03/28/2017 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.

 Estimated Net Annual Distribution Per Unit
Year 1 * $0.3112
Subsequent Years * $0.3101
As of 03/27/2017
* The estimated net annual distribution for subsequent years is expected to be less than the amount for the first year because a portion of the securities included in the portfolio will be sold to pay for organization costs, the deferred sales charge and the creation and development fee.  The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Consumer Discretionary  Consumer Discretionary 17.36%
Consumer Staples  Consumer Staples 2.69%
Energy  Energy 1.02%
Financials  Financials 10.77%
Health Care  Health Care 13.41%
Industrials  Industrials 7.70%
Information Technology  Information Technology 11.09%
Materials  Materials 0.00%
Real Estate  Real Estate 12.11%
Telecommunication Services  Telecommunication Services 0.00%
Utilities  Utilities 23.61%
Other  Other 0.24%
 
  Large Mid Small  
Growth  24.54% 14.99% 10.02%  
Value  27.03% 14.54% 8.64%  

 Style Weighting
Large-Cap Growth 24.54%
Large-Cap Value 27.03%
Mid-Cap Growth 14.99%
Mid-Cap Value 14.54%
Small-Cap Growth 10.02%
Small-Cap Value 8.64%
Undetermined 0.24%
 Composition
U.S. Stocks 91.58%   Other 0.24%
Non-U.S. Stocks 8.18%      
The style and sector characteristics of the portfolio are determined as of 03/27/2017 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $56,190.94
Weighted Average Price/Earnings 19.91
Weighted Average Price/Book 2.73
As of 3/27/2017
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Cisco Systems, Inc. CSCO Information Technology  Information Technology Large-Cap Value 2.98%
 3M Company MMM Industrials  Industrials Large-Cap Growth 2.97%
 Sanofi (ADR) SNY Health Care  Health Care Large-Cap Value 2.92%
 Paychex, Inc. PAYX Information Technology  Information Technology Large-Cap Growth 2.84%
 Coach, Inc. COH Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.81%
 V.F. Corporation VFC Consumer Discretionary  Consumer Discretionary Large-Cap Growth 2.79%
 Principal Financial Group, Inc. PFG Financials  Financials Large-Cap Value 2.77%
 Johnson & Johnson JNJ Health Care  Health Care Large-Cap Growth 2.76%
 Aflac Incorporated AFL Financials  Financials Large-Cap Value 2.75%
 The Procter & Gamble Company PG Consumer Staples  Consumer Staples Large-Cap Growth 2.69%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 2.69%
 Ventas, Inc. VTR Real Estate  Real Estate Large-Cap Value 2.68%
 Arthur J. Gallagher & Co. AJG Financials  Financials Mid-Cap Value 2.68%
 Cracker Barrel Old Country Store, Inc. CBRL Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.67%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 2.67%
 Public Storage PSA Real Estate  Real Estate Large-Cap Growth 2.66%
 Genuine Parts Company GPC Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.63%
 CA, Inc. CA Information Technology  Information Technology Mid-Cap Value 2.60%
 Owens & Minor, Inc. OMI Health Care  Health Care Small-Cap Growth 2.57%
 Mattel, Inc. MAT Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.57%
 Federated Investors, Inc. (Class B) FII Financials  Financials Small-Cap Growth 2.57%
 Realty Income Corporation O Real Estate  Real Estate Large-Cap Value 2.55%
 Watsco, Inc. WSO Industrials  Industrials Mid-Cap Growth 2.54%
 Novo Nordisk A/S (ADR) NVO Health Care  Health Care Large-Cap Growth 2.47%
 National Health Investors, Inc. NHI Real Estate  Real Estate Small-Cap Growth 2.13%
 Sempra Energy SRE Utilities  Utilities Large-Cap Value 2.13%
 Xcel Energy Inc. XEL Utilities  Utilities Large-Cap Value 2.12%
 Vectren Corporation VVC Utilities  Utilities Mid-Cap Value 2.10%
 LTC Properties, Inc. LTC Real Estate  Real Estate Small-Cap Growth 2.09%
 Great Plains Energy Incorporated GXP Utilities  Utilities Mid-Cap Value 2.09%
 OGE Energy Corp. OGE Utilities  Utilities Mid-Cap Value 2.08%
 WEC Energy Group, Inc. WEC Utilities  Utilities Large-Cap Value 2.07%
 Consolidated Edison, Inc. ED Utilities  Utilities Large-Cap Value 2.06%
 NorthWestern Corporation NWE Utilities  Utilities Small-Cap Value 2.04%
 Avista Corporation AVA Utilities  Utilities Small-Cap Value 2.01%
 Target Corporation TGT Consumer Discretionary  Consumer Discretionary Large-Cap Value 2.00%
 Hawaiian Electric Industries, Inc. HE Utilities  Utilities Mid-Cap Value 1.97%
 El Paso Electric Company EE Utilities  Utilities Small-Cap Value 1.83%
 Grupo Aeroportuario del Pacifico S.A.B. de C.V. (ADR) PAC Industrials  Industrials Mid-Cap Growth 1.77%
 The Cato Corporation CATO Consumer Discretionary  Consumer Discretionary Small-Cap Value 1.23%
 Northwest Natural Gas Company NWN Utilities  Utilities Small-Cap Value 1.11%
 Pembina Pipeline Corporation PBA Energy  Energy Mid-Cap Value 1.02%
 PetMed Express, Inc. PETS Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.66%
 McGrath RentCorp MGRC Industrials  Industrials Small-Cap Value 0.42%
 
Total Number of Holdings:    44
Underlying Securities information represented above is as of 03/27/2017 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  1.05%
  Deferred:  1.41%
C&D Fee:    0.49%
Maximum Sales Charge:   2.95%
CUSIP Type Distribution
30300G462 Cash Monthly
30300G470 Reinvest Monthly
* Based on the offer price as of 03/28/2017 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.50%
Maximum Sales Charge:   0.50%
CUSIP Type Distribution
30300G488 Cash-Fee Monthly
30300G496 Reinvest-Fee Monthly
* Based on the NAV price as of 03/28/2017 4:00pm ET
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

 Deferred Sales Charge Schedule
Amount Date
$0.04830 May 19, 2017
$0.04830 June 20, 2017
$0.04840 July 20, 2017

 Volume Discounts
Initial Purchases Maximum
Sales Charge
$50,000 but less than $100,000 2.70%
$100,000 but less than $250,000 2.45%
$250,000 but less than $500,000 2.20%
$500,000 but less than $1,000,000 1.95%
$1,000,000 or more 1.40%

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. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

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.

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

Although the portfolio terminates in approximately one year, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor 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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