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Tax Exempt Municipal Income Intermediate, 12  Ticker: FSEMAX
 
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.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: TEIN12
Portfolio Status: Secondary
Initial Offer Date: 09/11/2014
Secondary Date: 10/27/2014
Wtd Avg Maturity: 1.0
ELTR Life: 0.9
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,181.9900
NAV(*): $528.7400
POP(*): Not Avail
PAR(*): $528.2000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 03/28/2024 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.

 Income Information
CUSIP Frequency / Distributions Accrued Interest Estimated Annual Income Estimated Current Return Estimated Long Term Return
33739U102 Monthly $1.3100 $17.6100
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 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
152708CC5 50,000 CENTRL BROWN CNTY WI WTR AUTH WTR SYS REV N/C, 5%, due 11/01/2024  A WI 5.00000 11/01/2024M    
437722AK7 100,000 HOMESTEAD FL N/C, 5%, due 07/01/2024  A+ FL 5.00000 07/01/2024M    
469485KU9 100,000 JACKSONVILLE FL SALES TAX REVENUE N/C, 5%, due 10/01/2025  A+ FL 5.00000 10/01/2025M    
56042RCR1 65,000 MAINE HLTH & HGR EDUCTNL FACS AUTH REV UNREF-SER A, 5%, due 07/01/2025  NR ME 5.00000 07/01/2025M 04/26/2024 100.0000
60534RY45 95,000 MISSISSIPPI ST DEV BANK SPL OBLG 5%, due 05/01/2025  A MS 5.00000 05/01/2025M 04/26/2024 100.0000
645020T65 100,000 NEW HAVEN CT 5%, due 08/01/2025  AA CT 5.00000 08/01/2025M 08/01/2024 100.0000
816434BV5 80,000 SELLERSBURG IN WTRWKS REVENUE 3%, due 07/01/2026  A+ IN 3.00000 07/01/2026M 04/26/2024 100.0000
86386TAJ8 150,000 STUDENT & ACADEMIC SVCS LLC AZ N/C, 5%, due 06/01/2024  AA AZ 5.00000 06/01/2024M    
960028MY1 35,000 WESTERVILLE OH CITY SCH DIST 5%, due 12/01/2025  AA OH 5.00000 12/01/2025M    
960521MV1 130,000 WESTLAND MI 4%, due 04/01/2025  AA MI 4.00000 04/01/2025M 04/26/2024 100.0000
 
Total Number of Holdings:    10


Risk Considerations

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.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

Insurance Risks. 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 Risk. 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.

Municipal Securities 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. The markets for credit instruments, including municipal securities, have experienced periods of extreme illiquidity and volatility.

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.

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 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
33739U102 (Cash)
33739U110 (Cash-Wrap)
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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