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Preferred Income Opportunity, 11  Ticker: FJBYAX
 
Description
A unit investment trust that seeks a high rate of current income by investing in a diversified portfolio of preferred securities.
 
Summary
Product Code: PRIO11
Portfolio Status: Secondary
Initial Offer Date: 10/19/2018
Secondary Date: 01/11/2019
Portfolio Ending Date: 01/21/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.0322
POP(*): $10.1695
Remaining Deferred Sales Charge: $0.0450
* As of Trade Date: 02/22/2019 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.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 AT&T Inc., 5.625%, Due 08/01/2067 TBC 4.54%
 BB&T Corporation, 5.625% BBT.H 4.04%
 First Republic Bank, Series I, 5.500% FRC.I 4.01%
 eBay Inc., 6.000%, Due 02/01/2056 EBAYL 3.99%
 The Hartford Financial Services Group, Inc., 7.875%, Variable Rate, Due 04/15/2042 HGH 3.98%
 Prudential Financial, Inc., 5.625%, Due 08/15/2058 PRS 3.96%
 MetLife, Inc., Series E, 5.625% MET.E 3.92%
 JPMorgan Chase & Co., Series DD, 5.750% JPM.D 3.90%
 The PNC Financial Services Group, Inc., Series P, 6.125%, Variable Rate PNC.P 3.84%
 Duke Energy Corporation, 5.625%, Due 09/15/2078 DUKB 3.04%
 National Retail Properties, Inc., Series F, 5.200% NNN.F 2.63%
 Dominion Energy, Inc., Series A, 5.250%, Due 07/30/2076 DRUA 2.52%
 Axis Capital Holdings Limited, Series E, 5.500% AXS.E 2.50%
 SCE Trust V, Series K, 5.450%, Variable Rate SCE.K 2.26%
 Public Storage, Series B, 5.400% PSA.B 2.10%
 The Southern Company, 5.250%, Due 10/01/2076 SOJB 2.09%
 DTE Energy Company, Series E, 5.250%, Due 12/01/2077 DTW 2.09%
 Public Storage, Series F, 5.150% PSA.F 2.06%
 W.R. Berkley Corporation, 5.750%, Due 06/01/2056 WRB.D 2.04%
 DTE Energy Company, Series F, 6.000%, Due 12/15/2076 DTY 2.04%
 W.R. Berkley Corporation, 5.700%, Due 03/30/2058 WRB.E 2.04%
 NextEra Energy Capital Holdings, Inc., Series K, 5.250%, Due 06/01/2076 NEE.K 2.03%
 Kimco Realty Corporation, Series L, 5.125% KIM.L 2.03%
 Arch Capital Group Ltd., Series F, 5.450% ACGLO 2.03%
 Kimco Realty Corporation, Series M, 5.250% KIM.M 2.03%
 U.S. Bancorp, Series K, 5.500% USB.P 2.03%
 Arch Capital Group Ltd., Series E, 5.250% ACGLP 2.01%
 PS Business Parks, Inc., Series Y, 5.200% PSB.Y 2.00%
 Wells Fargo & Company, Series W, 5.700% WFC.W 1.99%
 The Charles Schwab Corporation, Series C, 6.000% SCHW.C 1.99%
 American Financial Group, Inc., 6.000%, Due 11/15/2055 AFGH 1.99%
 State Street Corporation, Series D, 5.900%, Variable Rate STT.D 1.98%
 RenaissanceRe Holdings Ltd., Series F, 5.750% RNR.F 1.98%
 U.S. Bancorp, Series F, 6.500%, Variable Rate USB.M 1.97%
 Wells Fargo & Company, 5.850%, Variable Rate WFC.Q 1.94%
 The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/2053 ALL.B 1.93%
 SCE Trust VI, 5.000% SCE.L 1.89%
 Entergy Louisiana, LLC, 4.875%, Due 09/01/2066 ELC 1.33%
 Entergy Arkansas, LLC, 4.875%, Due 09/01/2066 EAI 1.30%
 Stifel Financial Corp., 5.200%, Due 10/15/2047 SFB 0.99%
 State Street Corporation, Series G, 5.350%, Variable Rate STT.G 0.97%
 
Total Number of Holdings:    41
Underlying Securities information represented above is as of 02/21/2019 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 January 18, 2019
$0.04500 February 20, 2019
$0.04500 March 20, 2019

Risk Considerations

Sector Concentration Risk. A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

Cybersecurity Risk. Cybersecurity companies are subject to the risks set forth in "Information Technology". In addition to their cybersecurity business, certain of these companies may be involved in other businesses unrelated to cybersecurity. Negative performance by a company's other business operations may have a negative effect on a company's stock performance, even in situations in which they are deriving positive results from their cybersecurity business.

Financials Risk. The companies engaged in the financials sector are subject to the adverse effects of volatile interest rates, economic recession, decreases in the availability of capital, increased competition from new entrants in the field, and potential increased regulation.

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.

Term Risk - 15 months. Although this unit investment trust terminates in approximately 15 months, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

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
30310D467 (Cash)
30310D475 (Reinvest)
30310D483 (Cash-Fee)
30310D491 (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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