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Municipal Income Plus Closed End, 36  Ticker: FRCTAX
 
Description
A unit investment trust which seeks monthly income that is exempt from federal income taxes by investing in a well-diversified pool of closed-end funds that invest in tax-exempt municipal bonds.
 
Summary
Product Code: CEPL36
Portfolio Status: Secondary
Initial Offer Date: 02/26/2013
Secondary Date: 05/03/2013
Portfolio Ending Date: 02/26/2015
Tax Structure: RIC
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $8.4295
POP(*): Not Avail
* As of Trade Date: 07/23/2014 4:00pm ET

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.4998
As of 07/21/2014
* 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  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Eaton Vance Municipal Bond Fund EIM 4.50%
 MainStay DefinedTerm Municipal Opportunities Fund MMD 4.36%
 Nuveen Premium Income Municipal Fund NPI 4.07%
 BlackRock MuniYield Quality Fund III, Inc. MYI 4.03%
 Nuveen Premium Income Municipal Fund 2 NPM 4.00%
 Nuveen Performance Plus Municipal Fund NPP 3.99%
 Invesco Value Municipal Income Trust IIM 3.91%
 Invesco Municipal Opportunity Trust VMO 3.85%
 Invesco Trust for Investment Grade Municipals VGM 3.56%
 Nuveen Municipal High Income Opportunity Fund NMZ 3.43%
 BlackRock MuniHoldings Investment Quality Fund MFL 3.38%
 Nuveen Enhanced Municipal Value Fund NEV 3.34%
 BlackRock MuniYield Quality Fund, Inc. MQY 3.26%
 BlackRock Municipal Income Trust BFK 3.18%
 Invesco Municipal Trust VKQ 3.14%
 DWS Municipal Income Trust KTF 3.12%
 AllianceBernstein National Municipal Income Fund, Inc. AFB 3.06%
 Western Asset Managed Municipals Portfolio, Inc. MMU 3.02%
 Invesco Advantage Municipal Income Trust II VKI 2.89%
 Nuveen Municipal Advantage Fund NMA 2.78%
 Putnam Municipal Opportunities Trust PMO 2.78%
 Invesco California Value Municipal Income Trust VCV 2.72%
 Putnam Managed Municipal Income Trust PMM 2.63%
 Dreyfus Strategic Municipals, Inc. LEO 2.46%
 Western Asset Municipal Defined Opportunity Trust Inc. MTT 2.14%
 BlackRock Municipal Income Quality Trust BYM 1.93%
 Invesco Municipal Income Opportunities Trust OIA 1.85%
 BlackRock Municipal Income Trust II BLE 1.73%
 BlackRock MuniYield Quality Fund II, Inc. MQT 1.71%
 Neuberger Berman Intermediate Municipal Fund, Inc. NBH 1.60%
 Nuveen Dividend Advantage Municipal Fund NAD 1.51%
 Dreyfus Strategic Municipal Bond Fund, Inc. DSM 1.48%
 Nuveen California Dividend Advantage Municipal Fund NAC 1.48%
 MFS Municipal Income Trust MFM 1.41%
 MFS High Income Municipal Trust CXE 1.37%
 
Total Number of Holdings:    35
Underlying Securities information represented above is as of 07/22/2014 but will vary with future fluctuations in the market.

Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds may employ the use of leverage which increases the volatility of such funds.

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.

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.

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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