California Municipal Income, 15  Ticker: FEHKPX
 
Description
This unit investment trust seeks to distribute income exempt from federal, California state/and or local income taxes and to preserve capital by investing in a portfolio of investment grade tax-exempt municipal bonds issued by California.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CAFT15
Portfolio Status: Secondary
Initial Offer Date: 04/19/2018
Secondary Date: 01/16/2019
Wtd Avg Maturity: 20.7
ELTR Life: 20.7
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,061.2600
NAV(*): $899.2300
POP(*): Not Avail
PAR(*): $944.4000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 03/27/2024 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
33739U862 Monthly $1.8600 $31.8300
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 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
032555NL4 80,000 ANAHEIM CA ELEM SCH DIST 2.75%, due 08/01/2042  AA- CA 2.75000 08/01/2042M 08/01/2026 100.0000
069077GE9 50,000 BARSTOW CA UNIF SCH DIST 3.375%, due 08/01/2044  AA CA 3.37500 08/01/2044M 08/01/2027 100.0000
13057EBC7 70,000 CALIFORNIA PUBLIC FIN AUTH REV 4%, due 08/01/2047  AA CA 4.00000 08/01/2047M 02/01/2028 100.0000
13032UFP8 60,000 CALIFORNIA ST HLTH FACS FING AUTH 4%, due 10/01/2047  A CA 4.00000 10/01/2047M 10/01/2026 100.0000
13032UQR2 60,000 CALIFORNIA ST HLTH FACS FING AUTH 4%, due 11/15/2040  AA- CA 4.00000 11/15/2040M 11/15/2027 100.0000
13032URN0 50,000 CALIFORNIA ST HLTH FACS FING AUTH 4%, due 11/15/2042  A+ CA 4.00000 11/15/2042M 11/15/2027 100.0000
13049UEF2 80,000 CALIFORNIA ST MUNI FIN AUTH LEASE REV 3.625%, due 12/01/2047  NR CA 3.62500 12/01/2047M 12/01/2027 100.0000
399262MA9 30,000 GROSSMONT CA UNION HIGH SCH DIST 3%, due 08/01/2045  NR CA 3.00000 08/01/2045M 08/01/2026 100.0000
530319RF1 135,000 LIBERTY CA UNION HIGH SCH DIST 4%, due 08/01/2042  NR CA 4.00000 08/01/2042M 08/01/2027 100.0000
53833PAX4 45,000 LIVERMORE VLY CA WTR FING AUTH 4%, due 07/01/2043  AAA CA 4.00000 07/01/2043M 07/01/2027 100.0000
556452GL8 30,000 MADERA CA UNIF SCH DIST 4%, due 08/01/2046  NR CA 4.00000 08/01/2046M 08/01/2027 100.0000
580405AC2 60,000 MCFARLAND CA IMPT AUTH LEASE REV 4%, due 03/01/2047  AA CA 4.00000 03/01/2047M 03/01/2027 100.0000
612289TD0 25,000 MONTEBELLO CA UNIF SCH DIST 4%, due 08/01/2046  NR CA 4.00000 08/01/2046M 08/01/2026 100.0000
63877NLB1 60,000 NATOMAS CA UNIF SCH DIST 4%, due 08/01/2042  AA CA 4.00000 08/01/2042M 08/01/2026 100.0000
645002E44 70,000 NEW HAVEN CA UNIF SCH DIST 4%, due 08/01/2047  NR CA 4.00000 08/01/2047M 08/01/2027 100.0000
79689RAW2 100,000 SAN BRUNO CA PUBLIC FING AUTH 4%, due 07/01/2047  AA+ CA 4.00000 07/01/2047M 07/01/2027 100.0000
7973555X8 135,000 SAN DIEGO CA UNIF SCH DIST 4%, due 07/01/2047  NR CA 4.00000 07/01/2047M 07/01/2027 100.0000
870462SF6 90,000 SWEETWATER CA UNION HIGH SCH DIST 4%, due 08/01/2042  A- CA 4.00000 08/01/2042M 02/01/2026 100.0000
95236FAW2 50,000 WEST CNTY TRANSPRTN AGY CA 4%, due 04/01/2041  NR CA 4.00000 04/01/2041M 04/01/2026 100.0000
 
Total Number of Holdings:    19


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 ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

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.

Municipal Securities 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. The markets for credit instruments, including municipal securities, have experienced periods of extreme illiquidity and volatility.

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.

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