MLP Closed-End Fund and Energy, 63  Ticker: FWLSDX
 
Description
A unit investment trust that seeks a high rate of current monthly income and the potential for growth of principal by investing approximately 50% of the trust’s assets in closed-end funds that invest in master limited partnerships from the energy infrastructure industry and approximately 50% of the trust’s assets in common stocks of energy companies.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: MLEN63
Portfolio Status: Secondary
Initial Offer Date: 03/27/2019
Secondary Date: 05/13/2019
Portfolio Ending Date: 03/26/2021
Tax Structure: Grantor
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.2549
POP(*): $9.4679
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 06/17/2019 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 6/17/2019) Per Unit (as of 6/17/2019)
7.75% $0.73410
^There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution rate is calculated using only the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 TC Energy Corporation TRP 6.96%
 Keyera Corp. KEY.CN 6.81%
 Kinder Morgan, Inc. KMI 6.64%
 Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. MIE 6.58%
 Pembina Pipeline Corporation PBA 6.33%
 Tortoise Midstream Energy Fund Inc. NTG 6.24%
 The Williams Companies, Inc. WMB 6.14%
 Duff & Phelps Select MLP and Midstream Energy Fund Inc. DSE 6.13%
 ClearBridge Energy Midstream Opportunity Fund Inc. EMO 6.11%
 Tortoise Energy Infrastructure Corporation TYG 6.10%
 ONEOK, Inc. OKE 6.08%
 Enbridge Inc. ENB 6.08%
 Goldman Sachs MLP and Energy Renaissance Fund GER 6.07%
 Nuveen Energy MLP Total Return Fund JMF 6.01%
 Fiduciary/Claymore Energy Infrastructure Fund FMO 5.86%
 Inter Pipeline Ltd. IPL.CN 5.86%
 
Total Number of Holdings:    16
Underlying Securities information represented above is as of 06/17/2019 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 July 19, 2019
$0.07500 August 20, 2019
$0.07500 September 20, 2019

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

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.

Canadian Concentration Risk. Because the portfolio is concentrated in companies headquartered, or with a significant presence, in Canada, the portfolio may present more risks than a portfolio which is broadly diversified over several regions.

Closed-End Fund Risk. Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds employ the use of leverage, which increases the volatility of such funds.

Energy Risk. The companies engaged in the energy sector are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes, price controls, and other regulatory policies of various governments. Falling oil and gas prices may negatively impact the profitability and business prospects of certain energy companies.

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.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

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.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

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.