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Tax Exempt Municipal Income Intermediate, 31  Ticker: FMBJDX
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.
Product Code: TEIN31
Portfolio Status: Secondary
Initial Offer Date: 09/14/2017
Secondary Date: 11/21/2017
Wtd Avg Maturity: 9.6
ELTR Life: 9.3
Tax Structure: Regulated Investment Company
Initial Offer Price: $1,168.9700
NAV(*): $1,108.3400
POP(*): $1,142.6400
PAR(*): $999.4000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 01/19/2018 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
33739U623 Monthly $1.4100 $39.0900 3.420% 2.100%

 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
Call Date
005824JM0 135,000 ADAMS CNTY IL SCH DIST #172 3%, due 02/01/2029  AA IL 3.00000 02/01/2029M 02/01/2027 100.0000
13048TV75 100,000 CALIFORNIA ST MUNI FIN AUTH REV N/C, 5%, due 10/01/2026  NR CA 5.00000 10/01/2026M    
246579ER3 125,000 DELAWARE VLY PA REGL FINANCIAL AUTH N/C, SER A, 5.50%, due 08/01/2028  NR PA 5.50000 08/01/2028M    
267045GN6 150,000 DUTCHESS CNTY NY LOCAL DEV CORP REV 3%, due 07/01/2029  A- NY 3.00000 07/01/2029M 07/01/2026 100.0000
267045GL0 100,000 DUTCHESS CNTY NY LOCAL DEV CORP REV 5%, due 07/01/2027  A- NY 5.00000 07/01/2027M 07/01/2026 100.0000
34073THT7 135,000 FLORIDA ST HGR EDUCTNL FACS FIN AUTH REV 5%, due 11/01/2027  A- FL 5.00000 11/01/2027M 11/01/2026 100.0000
343137BG9 400,000 FLORIDA ST TURNPIKE AUTH TPK REV 2.625%, due 07/01/2027  NR FL 2.62500 07/01/2027M 07/01/2025 100.0000
35907FDT0 310,000 FRONTIER NY CENTRL SCH DIST 3%, due 06/01/2029  NR NY 3.00000 06/01/2029M 06/01/2025 100.0000
407272T78 250,000 HAMILTON CNTY OH HOSP FACS REV N/C, 5%, due 08/15/2026  A+ OH 5.00000 08/15/2026M    
420507BZ7 160,000 HAWTHORNE CA CTFS PARTN 4%, due 08/01/2028  AA CA 4.00000 08/01/2028M 08/01/2026 100.0000
45204ERB6 75,000 ILLINOIS ST FIN AUTH REVENUE N/C, 5%, due 01/01/2027  A IL 5.00000 01/01/2027M    
479772JU0 400,000 JOLIET IL PARK DIST 4%, due 02/01/2025  AA IL 4.00000 02/01/2025M 02/01/2024 100.0000
483890RH4 350,000 KANE CNTY IL SCH DIST 129 4%, due 02/01/2028  AA IL 4.00000 02/01/2028M 02/01/2027 100.0000
491552R23 250,000 KENTUCKY ST TURNPIKE AUTH ECON DEV 5%, due 07/01/2028  AA- KY 5.00000 07/01/2028M 07/01/2027 100.0000
50943PBY4 100,000 LAKE CNTY OH HOSP FACS REVENUE 5%, due 08/15/2028  NR OH 5.00000 08/15/2028M 08/15/2025 100.0000
52480GCT9 200,000 LEHIGH CNTY PA GEN PURP HOSP REV 4%, due 07/01/2028  A+ PA 4.00000 07/01/2028M 07/01/2026 100.0000
54811BPN5 300,000 LOWER COLORADO RIVER TX AUTH 4%, due 05/15/2029  A TX 4.00000 05/15/2029M 05/15/2025 100.0000
59333PS90 150,000 MIAMI-DADE CNTY FL AVIATION REV 5%, due 10/01/2027  A FL 5.00000 10/01/2027M 10/01/2026 100.0000
60637AKT8 225,000 MISSOURI ST HLTH & EDUCTNL FACS AUTH 5%, due 11/15/2029  A+ MO 5.00000 11/15/2029M 05/15/2026 100.0000
678315EW8 250,000 OKANOGAN CNTY WA PUBLIC HOSP DIST 4 2.75%, due 12/01/2028  NR WA 2.75000 12/01/2028M 06/01/2027 100.0000
70914PB76 400,000 PENNSYLVANIA ST 5%, due 09/15/2027  A+ PA 5.00000 09/15/2027M 09/15/2026 100.0000
70917SF24 250,000 PENNSYLVANIA ST HGR EDUCTNL FACS AUTH 5%, due 06/15/2028  NR PA 5.00000 06/15/2028M 06/15/2027 100.0000
74442CBF0 230,000 PUBLIC FIN AUTH WI HOSP REVENUE N/C, 5%, due 06/01/2026  A WI 5.00000 06/01/2026M    
744434DL2 200,000 PUBLIC PWR GENERATION AGY NE REV 5%, due 01/01/2028  NR NE 5.00000 01/01/2028M 01/01/2025 100.0000
74731RAP6 100,000 QUAD CITIES IL REGL ECON DEV AUTH 5%, due 10/01/2023  NR IL 5.00000 10/01/2023M 10/01/2022 100.0000
74731RAN1 230,000 QUAD CITIES IL REGL ECON DEV AUTH N/C, 4%, due 10/01/2022  NR IL 4.00000 10/01/2022M    
Total Number of Holdings:    26

Risk Considerations

Buy & Hold Risk – Tax-Free Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity.

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.

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.

Fund Cusip Information
33739U623 (Cash)
33739U631 (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 and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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