Municipal Income Plus Closed End, 36

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(*):	$9.2465
POP(*):	$9.5915

* As of Trade Date: 05/24/2013 4:00pm ET


Fact Sheet	Prospectus

Estimated Net Annual Distribution Per Unit

Estimated Net Annual Distribution *	$0.5189
Subsequent Years *	$0.5174
As of 05/20/2013

* 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. 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

Name	Symbol	Weighting
Eaton Vance Municipal Bond Fund	EIM	4.47%
MainStay DefinedTerm Municipal Opportunities Fund	MMD	4.47%
BlackRock MuniYield Quality Fund III, Inc.	MYI	4.03%
Invesco Municipal Opportunity Trust	VMO	4.01%
Nuveen Performance Plus Municipal Fund	NPP	3.94%
Nuveen Premium Income Municipal Fund	NPI	3.93%
Nuveen Premium Income Municipal Fund 2	NPM	3.87%
Invesco Value Municipal Income Trust	IIM	3.73%
Invesco Trust for Investment Grade Municipals	VGM	3.70%
BlackRock MuniHoldings Investment Quality Fund	MFL	3.43%
BlackRock MuniYield Quality Fund, Inc.	MQY	3.35%
Nuveen Enhanced Municipal Value Fund	NEV	3.31%
Nuveen Municipal High Income Opportunity Fund	NMZ	3.30%
BlackRock Municipal Income Trust	BFK	3.25%
Invesco Municipal Trust	VKQ	3.23%
DWS Municipal Income Trust	KTF	3.06%
Western Asset Managed Municipals Portfolio, Inc.	MMU	3.04%
AllianceBernstein National Municipal Income Fund, Inc.	AFB	3.03%
Invesco Advantage Municipal Income Trust II	VKI	2.98%
Putnam Municipal Opportunities Trust	PMO	2.73%
Nuveen Municipal Advantage Fund	NMA	2.70%
Putnam Managed Municipal Income Trust	PMM	2.66%
Invesco California Value Municipal Income Trust	VCV	2.66%
Dreyfus Strategic Municipals, Inc.	LEO	2.45%
Western Asset Municipal Defined Opportunity Trust Inc.	MTT	2.04%
BlackRock Municipal Income Quality Trust	BYM	1.99%
BlackRock Municipal Income Trust II	BLE	1.82%
Invesco Municipal Income Opportunities Trust	OIA	1.72%
BlackRock MuniYield Quality Fund II, Inc.	MQT	1.72%
Neuberger Berman Intermediate Municipal Fund, Inc.	NBH	1.57%
Nuveen California Quality Income Municipal Fund	NUC	1.53%
MFS Municipal Income Trust	MFM	1.50%
MFS High Income Municipal Trust	CXE	1.49%
Dreyfus Strategic Municipal Bond Fund, Inc.	DSM	1.49%
Nuveen Dividend Advantage Municipal Fund	NAD	1.46%

Total Number of Holdings: 35

Underlying Securities information represented above is as of 05/23/2013 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.

Product Watch Options

Click on the appropriate CUSIP below to add it to your product watch list:

30281E254	(Cash)
30281E262	(Reinvest)
30281E270	(Cash-Fee)
30281E288	(Reinvest-Fee)

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