Tax Exempt Municipal Income, 276

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:	FT276
Portfolio Status:	Secondary
Initial Offer Date:	04/10/2012
Secondary Date:	05/15/2012
Avg Life / Pricing Life:	26.2 / 8.1
Tax Structure:	RIC

Initial Offer Price:	$994.7400
NAV(*):	$973.9000
POP(*):	$1,023.1200
PAR(*):	$898.0000

* As of Trade Date: 05/23/2013 4:00pm ET

Income Information

CUSIP	Price Code	Frequency / Distributions	Accrued Interest	Estimated Annual Income	Estimated Current Return	Estimated Long Term Return
33737E407	077688	Monthly	$2.1800	$41.0900	4.020%	2.843%

Holdings

Export Current Holdings | View Initial Holdings

CUSIP	Par	Description	St	Coupon	Maturity(M) /Escrow(E) Date	Next Call Date	Call Price
13063BSA1	500,000	CALIFORNIA ST VARIOUS PURP GO REF BDS	CA	5.000	02/01/2038M	02/01/2022	100.0000
167505PA8	500,000	CHICAGO IL BRD OF EDU CHICAGO IL BRD OF EDU	IL	5.000	12/01/2041M	12/01/2021	100.0000
277210EL0	215,000	ESTRN WA UNIV ESTRN WA UNIV	WA	4.000	04/01/2038M	04/01/2022	100.0000
34073TDT1	500,000	FLORIDA ST HGR EDUCTNL FACS FI REV BDS	FL	5.000	12/01/2037M	12/01/2022	100.0000
444240PE9	500,000	HUDSONVILLE MICH PUB SCHS SCH BLDG AND SITE BDS	MI	5.250	05/01/2041M	05/01/2021	100.0000
452650EC4	500,000	IMPERIAL CALIF IRR DIST ELEC R REF REV BDS	CA	5.000	11/01/2041M	11/01/2020	100.0000
45505MAR7	500,000	INDIANA ST FIN AUTH WASTEWATER WASTEWTR UTIL REV BDS	IN	5.000	10/01/2041M	10/01/2021	100.0000
485319AQ0	500,000	KANSAS PWR POOL ELEC UTIL REV ELEC UTIL REV BDS	KS	5.000	12/01/2031M	12/01/2020	100.0000
516706CT3	1,000,000	LARAMIE CNTY WYO HOSP REV REV BDS	WY	5.000	05/01/2042M	05/01/2021	100.0000
550802GZ9	100,000	LYCOMING CNTY PA AUTH	PA	5.000	07/01/2030M	07/01/2021	100.0000
59333PYH5	100,000	MIAMI-DADE CNTY FL AVIATION RE AVIATION REV BDS	FL	5.500	10/01/2030M	10/01/2020	100.0000
59334KFW3	500,000	MIAMI-DADE CNTY FLA EXPWY AUTH TOLL SYS REV BDS	FL	5.000	07/01/2040M	07/01/2020	100.0000
5946146Y0	500,000	MICHIGAN ST BLDG AUTH REV REV REF BDS	MI	5.375	10/15/2036M	10/15/2021	100.0000
617736JR5	225,000	MORONGO CALIF UNI SCH DIST GO BDS	CA	4.125	08/01/2042M	08/01/2022	100.0000
66285WJX5	835,000	N TX TOLLWAY AUTH REVENUE N TX TOLLWAY AUTH REVENUE	TX	5.000	01/01/2038M	01/01/2021	100.0000
65888UDZ3	500,000	NORTH DAKOTA ST BRD HIGHER ED REV BDS	ND	4.125	04/01/2037M	04/01/2022	100.0000
691395YU5	500,000	OXFORD AL OXFORD AL	AL	4.000	02/01/2042M	02/01/2022	100.0000
705888BM6	970,000	PELL CITY AL SPL CARE FACS FIN PELL CITY AL SPL CARE FACS FING AUTH REVENUE	AL	5.000	12/01/2039M	12/01/2021	100.0000
79875YBX8	465,000	SAN MARCOS CALIF SCHS FING AUT LEASE REV BDS	CA	5.000	08/15/2040M	08/15/2020	100.0000
891380BD8	450,000	TORRANCE CALIF REV REV BDS	CA	5.000	09/01/2040M	09/01/2020	100.0000
896858BK2	190,000	TRIVIEW CO MET DIST TRIVIEW CO MET DIST	CO	4.750	11/01/2039M	11/01/2019	100.0000
931541GX8	455,000	WALKER CNTY ALA BRD ED CAP OUTLAY REF SCH WTS	AL	5.000	03/01/2042M	03/01/2022	100.0000
958638SX7	400,000	WESTERN MICH UNIV REVS REV BDS	MI	5.250	11/15/2040M	11/15/2021	100.0000

Total Number of Holdings: 23

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

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.

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:

33737E407	(Cash)
33737E415	(Cash-Wrap)

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