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Tax Exempt Municipal Income, 280  Ticker: FKLATX
 
Description
This unit investment trust seeks investors with income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of investment grade municipal bonds.
 
Summary
Product Code: FT280
Portfolio Status: Secondary
Initial Offer Date: 02/21/2013
Secondary Date: 05/10/2013
Wtd Avg Maturity: 25.2
ELTR Life: 23.4
Tax Structure: RIC
 
Initial Offer Price: $995.2500
NAV(*): $932.9100
POP(*): Not Avail
PAR(*): $909.7000
* As of Trade Date: 11/21/2014 4:00pm ET

 Income Information
CUSIP Frequency / Distributions Accrued Interest Estimated Annual Income Estimated Current Return Estimated Long Term Return
33737F289 Monthly $1.6300 $37.2200
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 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
Date
Next
Call Date
Call
Price
01728LEN8 145,000 ALLEGHENY CNTY PA ARPT AUTH ARPT REV PITTSBURGH INTL ARPT-SER B, 4%, due 01/01/2032  A- PA 4.00000 01/01/2032M 01/01/2022 100.0000
01729EKY2 260,000 ALLEGHENY CNTY PA HGR EDU BLDG AUTH CLG REV CARNEGIE MELLON UNIV, 4%, due 03/01/2043  AA- PA 4.00000 03/01/2043M 03/01/2023 100.0000
167505PV2 50,000 CHICAGO IL BRD OF EDU GO BDS, REF-SER B, 5%, due 12/01/2034  AA IL 5.00000 12/01/2034M 12/01/2022 100.0000
167505PL4 465,000 CHICAGO IL BRD OF EDU GO BDS, SER A, 5%, due 12/01/2042  A+ IL 5.00000 12/01/2042M 12/01/2022 100.0000
167736VK0 180,000 CHICAGO ILL WTR REV REF-SECOND LIEN-BHAC-CR, 5.75%, due 11/01/2030  AA+ IL 5.75000 11/01/2030M    
20058RBC2 270,000 COMMERCE CITY CO NRTHRN INFRAS GO, REF & IMPT, 4%, due 12/01/2038  AA CO 4.00000 12/01/2038M 12/01/2022 100.0000
249182GJ9 250,000 DENVER CITY & CNTY CO ARPT REV SYS-SER B, 4%, due 11/15/2043  A+ CO 4.00000 11/15/2043M 11/15/2022 100.0000
45201QCV4 600,000 ILLINOIS EDL FACS AUTH FIELD MUSEUM NAT HIST, 4%, due 11/01/2036  A IL 4.00000 11/01/2036M 11/01/2022 102.0000
45506DEM3 245,000 INDIANA ST FIN AUTH REVENUE REF-EDUCTNL FACS-EARLHAM CLG, 5%, due 10/01/2042  NR IN 5.00000 10/01/2042M 10/01/2023 100.0000
52480GCB8 600,000 LEHIGH CNTY PA GEN PURP HOSP REV LEHIGH VLY HLTH NETWORK, 4%, due 07/01/2043  A+ PA 4.00000 07/01/2043M 07/01/2022 100.0000
551800EB7 215,000 LYNWOOD CA UNIF SCH DIST LYNWOOD CA UNIT SCH DIST  AA CA 5.00000 08/01/2038M 08/01/2023 100.0000
59259YSK6 240,000 MET TRANSPRTN AUTH NY REVENUE SER E, 4%, due 11/15/2038  AA- NY 4.00000 11/15/2038M 11/15/2022 100.0000
59333ALS8 235,000 MIAMI-DADE CNTY FLA FACS AUTH REV, UNIV OF MIAMI-SER A, 4%, due 04/01/2037  A- FL 4.00000 04/01/2037M 04/01/2023 100.0000
59447PTK7 120,000 MICHIGAN ST FIN AUTH REVENUE REF-HOLLAND CMNTY HOSP-SER A, 4%, due 01/01/2040  A+ MI 4.00000 01/01/2040M 01/01/2023 100.0000
66285WKR6 170,000 N TX TOLLWAY AUTH REVENUE FIRST TIER-REF-SER B, 5%, due 01/01/2042  A- TX 5.00000 01/01/2042M 01/01/2022 100.0000
644614V48 530,000 NEW HAMPSHIRE HLTH & EDU FACS AUTH REV REF-CHESHIRE MED CTR, 4%, due 07/01/2039  A- NH 4.00000 07/01/2039M 07/01/2022 100.0000
677632A84 200,000 OHIO ST UNIV REV, GEN RECPTS SPL PURPOSE-SER A, 4%, due 06/01/2043  AA- OH 4.00000 06/01/2043M 06/01/2023 100.0000
67910HND8 510,000 OKLAHOMA MUN PWR AUTH SER A, 4%, due 01/01/2043  A OK 4.00000 01/01/2043M 01/01/2023 100.0000
705888BL8 50,000 PELL CITY AL SPL CARE FACS FING AUTH REV 5%, due 12/01/2031  A AL 5.00000 12/01/2031M 12/01/2021 100.0000
705888BM6 150,000 PELL CITY AL SPL CARE FACS FING AUTH REV 5%, due 12/01/2039  A AL 5.00000 12/01/2039M 12/01/2021 100.0000
88283KAC2 260,000 TEXAS ST TRANSPRTN COMMISSION REF-1ST TIER-SER A, 4%, due 08/15/2038  A- TX 4.00000 08/15/2038M 08/15/2022 100.0000
93978HGC3 100,000 WASHINGTON ST HLTH CARE FACS AUTH PROVIDENCE HLTH & SVCS-SER A, 4.25%, due 10/01/2040  AA- WA 4.25000 10/01/2040M 10/01/2022 100.0000
 
Total Number of Holdings:    22


Due to the current state of the economy, 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. In addition, the market for mortgage-backed securities has become increasingly volatile due to the downturn in the housing and mortgage lending markets.

Certain of the securities in the trust are covered by insurance policies obtained by the issuers or underwriters of the bonds 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.

Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal. Interest income from closed-end municipal bond funds is generally exempt from federal income tax. However, certain distributions may be subject to federal income tax and/or subject to the alternative minimum tax.

Estimated current return is determined by dividing a Trust's estimated net annual interest income per unit by the public offering price per unit. Estimated long-term return is a measure of the estimated return over the estimated life of a Trust. Unlike estimated current return, estimated long-term return reflects maturities, estimated principal prepayments, Trust charges and expenses, and discounts and premiums of securities in a Trust. Returns and prices will fluctuate. Consult a prospectus for a more complete description of the estimated current return and estimated long-term return calculations.

Some of the information may have been obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPESATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. Please see the prospectus for a full description of the bond ratings.

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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