Tax-Advantaged Municipal Closed-End Portfolio, Series 56
Ticker Symbol: FBACEX
| 14 Holdings (As of Day of Deposit)
||BlackRock Municipal Income Investment Quality Trust
||BlackRock Municipal Income Investment Trust
||BlackRock New York Municipal Income Quality Trust
||Eaton Vance California Municipal Bond Fund
||Eaton Vance Municipal Bond Fund
||Eaton Vance Municipal Bond Fund II
||Eaton Vance New York Municipal Bond Fund
||Federated Premier Municipal Income Fund
||Nuveen AMT-Free Municipal Credit Income Fund
||Nuveen AMT-Free Municipal Value Fund
||Nuveen AMT-Free Quality Municipal Income Fund
||Nuveen California AMT-Free Quality Municipal Income Fund
||Nuveen New York AMT-Free Quality Municipal Income Fund
||PIMCO New York Municipal Income Fund II
* As of the close of business on 3/14/19.
Market values are for reference only and are not indicative of your individual
|Not FDIC Insured Not Bank Guaranteed May Lose Value
|Initial Date of Deposit
|Initial Public Offering Price
||$10.00 per Unit
|Portfolio Ending Date
|Historical 12-Month Distribution of Trust Holdings*
|Fee Account Cash CUSIP
|Fee Account Reinvestment CUSIP
*There is no guarantee the issuers of the securities included in the trust will declare dividends or
distributions in the future. The historical distribution rate of the securities included in the trust is
for illustrative purposes only and is not indicative of the trust’s distribution rate. The historical
distribution rate is calculated by dividing the weighted average of the trailing twelve month
distributions paid by the securities included in the portfolio by the trust’s offering price and is
reduced to account for the effects of fees and expenses which will be incurred when investing in a
trust. Certain of the issuers may have reduced their dividends or distributions over the prior twelve
months. The distribution 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.
|Sales Charges (based on a $10 public offering
|Transactional Sales Charges:
|Creation & Development Fee:
|Maximum Sales Charge:
The deferred sales charge will be deducted in three monthly installments commencing
When the public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If
the price exceeds $10.00 per unit, you will pay an initial sales charge.
|Maximum Sales Charge:
The maximum sales charge for investors in fee accounts consists of the creation and development fee.
Investors in fee accounts are not assessed any transactional sales charges. Standard accounts sales charges
apply to units purchased as an ineligible asset.
The creation and development fee is a charge of $.050 per unit collected at
the end of the initial offering period. If the price you pay exceeds $10 per
unit, the creation and development fee will be less than 0.50%; if the price
you pay is less than $10 per unit, the creation and development fee will exceed
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.
You should consider the portfolio's investment objective, risks, and
charges and expenses carefully 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 portfolio. Read it carefully
before you invest.
An investment in this unmanaged unit investment trust should
be made with an understanding of the risks associated with an
investment in a portfolio of closed-end funds which invest in
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. All of
the closed-end funds employ the use of leverage, which
increases the volatility of such funds.
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.
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.
All of the closed-end funds invest in investment grade securities.
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.
For a discussion of additional risks of investing in the trust see
the "Risk Factors" section of the prospectus.
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.
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.
This UIT is a buy and hold strategy and investors should consider
their ability to hold the trust until maturity.