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Tax Exempt Municipal Income, 312  Ticker: FCQSXX
 
Description
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.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: FT312
Portfolio Status: Secondary
Initial Offer Date: 07/16/2020
Secondary Date: 08/20/2020
Wtd Avg Maturity: 26.4
ELTR Life: 8.4
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,134.2100
NAV(*): $1,128.3000
POP(*): $1,171.7000
PAR(*): $998.0000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 07/23/2021 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
33741B647 Monthly $1.5700 $33.2100 2.830% 1.050%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
11861MAR7 140,000 BUCKS CNTY PA INDL DEV AUTH HOSP REV 3%, due 08/15/2050  A- PA 3.00000 08/15/2050M 08/15/2028 100.0000
120334GE1 210,000 BULLOCH CNTY GA DEV AUTH 4%, due 07/01/2045  NR GA 4.00000 07/01/2045M 07/01/2030 100.0000
13067VAU8 145,000 CALIFORNIA ST ENTERPRISE DEV AUTH 3%, due 11/01/2044  A+ CA 3.00000 11/01/2044M 11/01/2027 100.0000
146393EN9 135,000 CARTERET NJ SCH DIST 3%, due 02/01/2046  AA NJ 3.00000 02/01/2046M 02/01/2028 100.0000
167593M58 225,000 CHICAGO IL O'HARE INTL ARPT REV 5%, due 01/01/2048  A IL 5.00000 01/01/2048M 01/01/2029 100.0000
19648FKU7 310,000 COLORADO ST HLTH FACS AUTH HOSP REV 3.25%, due 08/01/2049  BBB+ CO 3.25000 08/01/2049M 08/01/2029 100.0000
44420RBF6 250,000 HUDSON YARDS INFRASTRUCTURE CORP NY 4%, due 02/15/2044  A+ NY 4.00000 02/15/2044M 02/15/2027 100.0000
49126PGX2 135,000 KENTUCKY ST ECON DEV FIN AUTH 5%, due 08/01/2049  BBB+ KY 5.00000 08/01/2049M 08/01/2029 100.0000
491501FD9 250,000 KENTUCKY ST MUNI PWR AGY PWR SYS REV 3%, due 09/01/2043  NR KY 3.00000 09/01/2043M 09/01/2028 100.0000
59334NDY5 210,000 MIAMI-DADE CNTY FL HLTH FACS AUTH 4%, due 08/01/2047  A FL 4.00000 08/01/2047M 08/01/2027 100.0000
59447TVC4 185,000 MICHIGAN ST FIN AUTH REVENUE 3.25%, due 02/15/2047  NR MI 3.25000 02/15/2047M 08/15/2029 100.0000
613603B32 135,000 MONTGOMERY CNTY PA HGR EDU & HLTH AUTH 4%, due 09/01/2044  A PA 4.00000 09/01/2044M 09/01/2029 100.0000
626082JF9 100,000 MUNDELEIN IL 3.125%, due 12/15/2049  AA IL 3.12500 12/15/2049M 12/15/2028 100.0000
6460666L9 400,000 NEW JERSEY ST EDUCTNL FACS AUTH 3%, due 07/01/2050  BBB+ NJ 3.00000 07/01/2050M 07/01/2030 100.0000
64763HGM1 165,000 NEW ORLEANS LA AVIATION BRD 5%, due 01/01/2043  A- LA 5.00000 01/01/2043M 01/01/2027 100.0000
650010CE9 250,000 NEW YORK ST THRUWAY AUTH GEN REV 3%, due 01/01/2046  A- NY 3.00000 01/01/2046M 01/01/2030 100.0000
684101AX6 205,000 ORANGE CALIF PUB FACS FING AUTH 4%, due 11/01/2050  AA- CA 4.00000 11/01/2050M 11/01/2028 100.0000
685729JL0 250,000 ORCUTT CA UNION SCH DIST 3%, due 08/01/2049  AA- CA 3.00000 08/01/2049M 08/01/2030 100.0000
703384BJ5 185,000 PATTERSON CA PUBLIC FING AUTH WTR REV 3%, due 06/01/2049  AA CA 3.00000 06/01/2049M 06/01/2029 100.0000
71883MPB4 400,000 PHOENIX AZ CIVIC IMPT CORP ARPT REV 5%, due 07/01/2049  A AZ 5.00000 07/01/2049M 07/01/2029 100.0000
785870ZS8 135,000 SACRAMENTO CITY CA UNIF SCH DIST 3%, due 08/01/2049  AA CA 3.00000 08/01/2049M 08/01/2029 100.0000
9143534B0 400,000 UNIV OF ILLINOIS IL REVENUES 4%, due 04/01/2050  A+ IL 4.00000 04/01/2050M 04/01/2030 100.0000
 
Total Number of Holdings:    22


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.

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
33741B647 (Cash)
33741B654 (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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