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New York Municipal Income Select Closed-End, 44  Ticker: FVJDPX
The New York Municipal Income Select Closed-End Portfolio is a unit investment trust that seeks monthly income that is exempt from federal, state, and local income taxes by investing in a well-diversified pool of closed-end funds that invest primarily in New York municipal bonds. A portion of the income, however, may be subject to the alternative minimum tax.
Product Code: NY2Y44
Portfolio Status: Secondary
Initial Offer Date: 09/18/2017
Secondary Date: 12/15/2017
Portfolio Ending Date: 09/18/2019
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.1008
POP(*): $9.3103
Remaining Deferred Sales Charge: $0.0750
* 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.

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.3906
As of 01/22/2018
* 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  
 Invesco Trust for Investment Grade New York Municipals VTN 9.59%
 BlackRock MuniYield New York Quality Fund, Inc. MYN 9.36%
 Nuveen New York AMT-Free Quality Municipal Income Fund NRK 9.33%
 Nuveen New York Quality Municipal Income Fund NAN 9.23%
 Eaton Vance New York Municipal Bond Fund ENX 9.08%
 BlackRock New York Municipal Income Trust BNY 8.41%
 Neuberger Berman New York Intermediate Municipal Fund Inc. NBO 6.96%
 Nuveen New York Municipal Value Fund, Inc. NNY 6.90%
 PIMCO New York Municipal Income Fund II PNI 5.91%
 PIMCO New York Municipal Income Fund PNF 4.56%
 Eaton Vance New York Municipal Income Trust EVY 4.52%
 BlackRock New York Municipal Income Quality Trust BSE 3.56%
 BlackRock Muni New York Intermediate Duration Fund, Inc. MNE 3.02%
 PIMCO New York Municipal Income Fund III PYN 2.56%
 Nuveen New York Select Tax-Free Income Portfolio NXN 1.78%
 Nuveen New York Municipal Value Fund 2 NYV 1.75%
 BlackRock New York Municipal Income Trust II BFY 1.74%
 Eaton Vance New York Municipal Bond Fund II NYH 1.74%
Total Number of Holdings:    18
Underlying Securities information represented above is as of 01/19/2018 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 December 20, 2017
$0.07500 January 19, 2018
$0.07500 February 20, 2018

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.

Closed-End Fund Risk. 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.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

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.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

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
30305B146 (Cash)
30305B153 (Reinvest)
30305B161 (Cash-Fee)
30305B179 (Reinvest-Fee)
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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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