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Corporate Investment Grade Laddered, 11  Ticker: FRWECX
 
Description
This unit investment trust seeks current income and capital preservation by investing in a laddered portfolio of investment grade corporate bonds.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CLAD11
Portfolio Status: Secondary
Initial Offer Date: 01/14/2020
Secondary Date: 04/23/2020
Wtd Avg Maturity: 6.0
ELTR Life: 6.0
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,150.7000
NAV(*): $1,149.9200
POP(*): $1,178.1800
PAR(*): $999.9000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 08/14/2020 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
30312V523 Monthly $0.9300 $41.7700 3.550% 1.316%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
00037BAB8 200,000 ABB FINANCE USA INC 2.875%, due 05/08/2022  A   2.87500 05/08/2022M    
05329WAN2 200,000 AUTONATION INC 3.50%, due 11/15/2024  BBB-   3.50000 11/15/2024M 09/15/2024 100.0000
053807AR4 200,000 AVNET INC 4.875%, due 12/01/2022  BBB-   4.87500 12/01/2022M    
06051GEM7 200,000 BANK OF AMERICA CORP N/C, 5.70%, due 01/24/2022  A-   5.70000 01/24/2022M    
06367WHH9 225,000 BANK OF MONTREAL N/C, 3.30%, due 02/05/2024  A-   3.30000 02/05/2024M    
055450AH3 187,000 BHP BILLITON FINANCE 6.42%, due 03/01/2026  A   6.42000 03/01/2026M    
05565QBZ0 200,000 BP CAPITAL MARKETS PLC 3.245%, due 05/06/2022  A-   3.24500 05/06/2022M    
120568AX8 200,000 BUNGE LTD FINANCE CORP 3.25%, due 08/15/2026  BBB   3.25000 08/15/2026M 05/15/2026 100.0000
133131AU6 200,000 CAMDEN PROPERTY TRUST 4.25%, due 01/15/2024  A-   4.25000 01/15/2024M 10/15/2023 100.0000
20030NCU3 200,000 COMCAST CORP 4.25%, due 10/15/2030  A-   4.25000 10/15/2030M 07/15/2030 100.0000
205887AR3 200,000 CONAGRA BRANDS INC 7%, due 10/01/2028  BBB-   7.00000 10/01/2028M    
25245BAB3 200,000 DIAGEO INVESTMENT CORP 2.875%, due 05/11/2022  A-   2.87500 05/11/2022M    
264399DK9 200,000 DUKE ENERGY CAROLINAS 6%, due 12/01/2028  A-   6.00000 12/01/2028M    
37045XBQ8 200,000 GENERAL MOTORS FINL CO 4%, due 10/06/2026  BBB   4.00000 10/06/2026M 07/06/2026 100.0000
466313AJ2 200,000 JABIL INC 3.60%, due 01/15/2030  BBB-   3.60000 01/15/2030M 10/15/2029 100.0000
540424AS7 200,000 LOEWS CORP 3.75%, due 04/01/2026  A   3.75000 04/01/2026M 01/01/2026 100.0000
620076BF5 150,000 MOTOROLA SOLUTIONS INC 4%, due 09/01/2024  BBB-   4.00000 09/01/2024M    
674599DR3 200,000 OCCIDENTAL PETROLEUM CORP 7.15%, due 05/15/2028  BB+   7.15000 05/15/2028M    
678858BU4 200,000 OKLAHOMA G&E CO 3.30%, due 03/15/2030  A-   3.30000 03/15/2030M 09/15/2029 100.0000
69371RQ25 200,000 PACCAR FINANCIAL CORP N/C, 2.15%, due 08/15/2024  A+   2.15000 08/15/2024M    
718172CE7 200,000 PHILIP MORRIS INTL INC 3.125%, due 03/02/2028  A   3.12500 03/02/2028M 12/02/2027 100.0000
86562MBG4 200,000 SUMITOMO MITSUI FINL GRP N/C, 4.306%, due 10/16/2028  A-   4.30600 10/16/2028M    
931142BF9 200,000 WAL-MART STORES INC N/C, BONDS, 7.55%, due 02/15/2030  AA   7.55000 02/15/2030M    
949746SH5 213,000 WELLS FARGO & COMPANY N/C, 3%, due 10/23/2026  BBB+   3.00000 10/23/2026M    
961548AV6 200,000 WESTROCK MWV LLC N/C, 8.20%, due 01/15/2030  BBB   8.20000 01/15/2030M    
 
Total Number of Holdings:    25


Risk Considerations

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

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.

Consumer Products Risk. The companies engaged in the consumer products sector are subject to global competition, changing government regulations and trade policies, currency fluctuations, and the financial and political risks inherent in producing products for foreign markets.

COVID-19 Economic Impact Risk. The recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December 2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.

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.

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.

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 cybersecurity.

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 professional 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
30312V523 (Cash)
30312V531 (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, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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