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Stonebridge Preferred Income, 17  Ticker: FLACIX
A unit investment trust that seeks a high rate of current income by investing in a diversified portfolio of preferred securities.
Product Code: SPRI17
Portfolio Status: Secondary
Initial Offer Date: 03/19/2018
Secondary Date: 06/15/2018
Portfolio Ending Date: 03/19/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.5882
POP(*): $9.8089
Remaining Deferred Sales Charge: $0.1500
* As of Trade Date: 06/19/2018 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 * $0.5459
Subsequent Years * $0.5449
As of 06/18/2018
* 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.  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  
 Citigroup Inc., Series K, 6.875%, Variable Rate C.K 3.93%
 U.S. Bancorp, Series F, 6.500%, Variable Rate USB.M 3.03%
 eBay Inc., 6.000%, Due 02/01/2056 EBAYL 3.02%
 Aspen Insurance Holdings Limited, 5.950%, Variable Rate AHL.C 2.98%
 SCE Trust V, Series K, 5.450%, Variable Rate SCE.K 2.98%
 Capital One Financial Corporation, Series H, 6.00% COF.H 2.53%
 VEREIT, Inc., Series F, 6.700% VER.F 2.51%
 People's United Financial, Inc., Series A, 5.625%, Variable Rate PBCTP 2.46%
 Regions Financial Corporation, Series B, 6.375%, Variable Rate RF.B 2.45%
 KeyCorp, Series E, 6.125%, Variable Rate KEY.I 2.42%
 The Charles Schwab Corporation, Series D, 5.950% SCHW.D 2.04%
 Bank of America Corporation, Series W, 6.625% BAC.W 2.02%
 United States Cellular Corporation, 7.250%, Due 12/01/2064 UZC 2.02%
 JPMorgan Chase & Co., Series T, 6.700% JPM.B 2.01%
 The Hartford Financial Services Group, Inc., 7.875%, Variable Rate, Due 04/15/2042 HGH 2.00%
 The Goldman Sachs Group, Inc., Series J, 5.500%, Variable Rate GS.J 2.00%
 New York Community Bancorp, Inc., Series A, 6.375%, Variable Rate NYCB.A 2.00%
 The PNC Financial Services Group, Inc., Series P, 6.125%, Variable Rate PNC.P 1.98%
 Wells Fargo & Company, 5.850%, Variable Rate WFC.Q 1.98%
 Wells Fargo & Company, 6.625%, Variable Rate WFC.R 1.98%
 State Street Corporation, Series D, 5.900%, Variable Rate STT.D 1.98%
 State Street Corporation, Series G, 5.350%, Variable Rate STT.G 1.97%
 The Goldman Sachs Group, Inc., Series K, 6.375%, Variable Rate GS.K 1.94%
 JPMorgan Chase & Co., Series BB, 6.150% JPM.H 1.53%
 American Financial Group, Inc., 6.000%, Due 11/15/2055 AFGH 1.52%
 Validus Holdings Ltd., 5.800% VR.B 1.51%
 Reinsurance Group of America, Incorporated, 6.200%, Variable Rate, Due 09/15/2042 RZA 1.50%
 Morgan Stanley, Series E, 7.125%, Variable Rate MS.E 1.50%
 PartnerRe Ltd., Series H, 7.250% PRE.H 1.50%
 CHS Inc., Series 2, 7.100%, Variable Rate CHSCN 1.49%
 W.R. Berkley Corporation, 5.750%, Due 06/01/2056 WRB.D 1.49%
 Morgan Stanley, Series F, 6.875%, Variable Rate MS.F 1.48%
 CHS Inc., Series 3, 6.750%, Variable Rate CHSCM 1.48%
 Reinsurance Group of America, Incorporated, 5.750%, Variable Rate, Due 06/15/2056 RZB 1.47%
 Qwest Corporation, 7.000%, Due 02/01/2056 CTAA 1.06%
 AmTrust Financial Services, Inc., 7.500%, Due 09/15/2055 AFST 1.05%
 Two Harbors Investment Corp., Series B, 7.625% Variable Rate TWO.B 1.05%
 AmTrust Financial Services, Inc., 7.250%, Due 06/15/2055 AFSS 1.04%
 American Homes 4 Rent, Series D, 6.500% AMH.D 1.03%
 MB Financial, Inc., Series C, 6.00% MBFIO 1.03%
 The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/2053 ALL.B 1.02%
 Capital One Financial Corporation, Series D, 6.700% COF.D 1.02%
 Colony NorthStar, Inc., Series E, 8.75% CLNS.E 1.02%
 Torchmark Corporation, 6.125%, Due 06/15/2056 TMK.C 1.01%
 American Homes 4 Rent, Series E, 6.350% AMH.E 1.01%
 Qwest Corporation, 6.500%, Due 09/01/2056 CTBB 1.01%
 Aspen Insurance Holdings Limited, 5.625% AHL.D 1.01%
 Annaly Capital Management, Inc., Series F, 6.95% Variable Rate NLY.F 1.01%
 Valley National Bancorp, Series B, 5.50% Variable Rate VLY.B 1.01%
 AGNC Investment Corp., Series C, 7.00% Variable Rate AGNCN 1.01%
 Colony NorthStar, Inc., Series J, 7.125% CLNS.J 1.01%
 The Allstate Corporation, Series E, 6.625% ALL.E 1.00%
 Bank of America Corporation, Series Y, 6.500% BAC.Y 1.00%
 United States Cellular Corporation, 7.250%, Due 12/01/2063 UZB 1.00%
 Legg Mason, Inc., 6.375%, Due 03/15/2056 LMHA 1.00%
 Bank of America Corporation, Series CC, 6.200% BAC.C 0.99%
 W.R. Berkley Corporation, 5.900%, Due 03/01/2056 WRB.C 0.99%
 Morgan Stanley, Series K, 5.850%, Variable Rate MS.K 0.99%
 Stifel Financial Corp., Series A, 6.250% SF.A 0.98%
 Digital Realty Trust, Inc., Series C, 6.625%, Due 12/31/2049 DLR.C 0.98%
 BrightSphere Investment Group Plc, 5.125%, Due 08/01/2031 BSA 0.97%
 Fifth Third Bancorp, Series I, 6.625%, Variable Rate FITBI 0.95%
 CHS Inc., Series 4, 7.50% CHSCL 0.51%
 JPMorgan Chase & Co., Series AA, 6.100% JPM.G 0.51%
Total Number of Holdings:    64
Underlying Securities information represented above is as of 06/18/2018 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 June 20, 2018
$0.07500 July 20, 2018
$0.07500 August 20, 2018

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

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.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Preferred Securities Risk. Preferred securities are equity securities of the issuing company which pay income in the form of dividends. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure, and therefore will be subject to greater credit risk than those debt instruments.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

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.

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 cyber security.

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
30307E445 (Cash)
30307E452 (Reinvest)
30307E460 (Cash-Fee)
30307E478 (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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