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Tax Exempt Municipal Income, 324  Ticker: FBCZOX
 
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: FT324
Portfolio Status: Secondary
Initial Offer Date: 10/27/2022
Secondary Date: 11/08/2022
Wtd Avg Maturity: 25.3
ELTR Life: 23.3
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $884.8800
NAV(*): $950.8900
POP(*): $987.4300
PAR(*): $1,000.0000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 12/08/2022 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
33741C140 Monthly $0.2200 $38.4100 3.890% 3.865%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
034789XN2 400,000 ANGLETON TX 4.125%, due 08/15/2052  AA- TX 4.12500 08/15/2052M 08/15/2031 100.0000
05567BAQ2 140,000 BNC MET DIST #1 CO 3.75%, due 12/01/2047  AA CO 3.75000 12/01/2047M 12/01/2027 100.0000
119732AS4 350,000 BUFFALO NY SWR AUTH SWR ENVRNMNTL IMPT 4%, due 06/15/2051  A+ NY 4.00000 06/15/2051M 06/15/2028 100.0000
132034AW9 135,000 CAMBRIA CNTY PA GEN FING AUTH 3.25%, due 04/01/2050  BBB PA 3.25000 04/01/2050M 04/01/2031 100.0000
167593M58 195,000 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 455,000 COLORADO ST HLTH FACS AUTH REV 3.25%, due 08/01/2049  A- CO 3.25000 08/01/2049M 08/01/2029 100.0000
20775DMS8 200,000 CONNECTICUT ST HLTH & EDUCTNL FACS AUTH 4%, due 06/01/2051  A+ CT 4.00000 06/01/2051M 12/01/2031 100.0000
20775DJT0 400,000 CONNECTICUT ST HLTH & EDUCTNL FACS AUTH 4%, due 07/01/2045  A CT 4.00000 07/01/2045M 07/01/2030 100.0000
395100UH1 220,000 GREENFIELD MA 4%, due 04/15/2047  AA- MA 4.00000 04/15/2047M 04/15/2030 100.0000
407272Z97 350,000 HAMILTON CNTY OH HOSP FACS REV 4%, due 08/15/2050  A+ OH 4.00000 08/15/2050M 08/15/2030 100.0000
424682JT0 195,000 HEMPSTEAD TOWN NY LOCAL DEV CORP 5%, due 07/01/2043  BBB NY 5.00000 07/01/2043M 07/01/2028 100.0000
452252PQ6 370,000 ILLINOIS ST TOLL HIGHWAY AUTH 5%, due 01/01/2045  AA- IL 5.00000 01/01/2045M 01/01/2031 100.0000
54811BYU9 285,000 LOWER COLORADO RIVER TX AUTH 5%, due 05/15/2047  A TX 5.00000 05/15/2047M 05/15/2031 100.0000
54811BVB4 155,000 LOWER COLORADO RIVER TX AUTH 5%, due 05/15/2050  A TX 5.00000 05/15/2050M 05/15/2029 100.0000
549203XP7 600,000 LUBBOCK TX ELEC LIGHT & PWR SYS 4%, due 04/15/2051  AA TX 4.00000 04/15/2051M 04/15/2030 100.0000
555483FE1 230,000 MACON & DE WITT CNTYS IL CUSD 2 4%, due 12/01/2044  AA IL 4.00000 12/01/2044M 12/01/2030 100.0000
5742187L1 300,000 MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH 4%, due 04/15/2045  A MD 4.00000 04/15/2045M 04/15/2030 100.0000
59333ANA5 110,000 MIAMI-DADE CNTY FL EDUCTNL FACS AUTH 4%, due 04/01/2053  A- FL 4.00000 04/01/2053M 04/01/2028 100.0000
6460666K1 205,000 NEW JERSEY ST EDUCTNL FACS AUTH 4%, due 07/01/2050  BBB+ NJ 4.00000 07/01/2050M 07/01/2030 100.0000
64763FZN2 250,000 NEW ORLEANS LA 5%, due 12/01/2050  A+ LA 5.00000 12/01/2050M 12/01/2030 100.0000
671448AA6 335,000 OAK LAWN IL REGL WTR SYS REV 4%, due 12/01/2047  AA IL 4.00000 12/01/2047M 12/01/2031 100.0000
709144PB9 400,000 PENNSYLVANIA ST CTFS PARTN 4%, due 07/01/2046  A PA 4.00000 07/01/2046M 01/30/2028 100.0000
717883ZG0 600,000 PHILADELPHIA PA SCH DIST 4%, due 09/01/2046  AA PA 4.00000 09/01/2046M 09/01/2031 100.0000
74444KBJ2 350,000 PUBLIC FIN AUTH WI HLTHCARE FACS REV 4%, due 01/01/2045  A WI 4.00000 01/01/2045M 01/01/2030 100.0000
74442CBZ6 350,000 PUBLIC FIN AUTH WI HOSP REVENUE 4%, due 10/01/2049  NR WI 4.00000 10/01/2049M 04/01/2029 100.0000
76912DAZ1 125,000 RIVERSIDE CNTY CA TRANSPRTN COMMN 4%, due 06/01/2046  A CA 4.00000 06/01/2046M 06/01/2031 100.0000
80083CBJ3 320,000 SANGER CA FING AUTH LEASE REV 4%, due 02/01/2045  A CA 4.00000 02/01/2045M 02/01/2030 100.0000
837151YY9 105,000 SOUTH CAROLINA ST PUBLIC SVC AUTH 4%, due 12/01/2051  A- SC 4.00000 12/01/2051M 12/01/2031 100.0000
875301GM9 115,000 TAMPA-HILLSBOROUGH CNTY FL EXPRESSWAY AUTH 5%, due 07/01/2048  A+ FL 5.00000 07/01/2048M 07/01/2028 100.0000
9523473M2 225,000 W CONTRA COSTA CA UNIF SCH DIST 4%, due 08/01/2049  AA CA 4.00000 08/01/2049M 08/01/2030 100.0000
 
Total Number of Holdings:    30


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.

COVID-19 Economic Impact Risk. The COVID-19 global pandemic and the ensuing policies enacted by governments and central banks have caused and may continue to cause significant volatility and uncertainty in global financial markets. While the U.S. has resumed "reasonably" normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

Market Disruption Risk. In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2022 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
33741C140 (Cash)
33741C157 (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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