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U.S. Equity Closed-End Portfolio, Series 35
Ticker Symbol: FPGYRX

18 Holdings (As of Day of Deposit)
Ticker Name Initial
Weight
Price*
General Equity Funds (56.43%)
EOS Eaton Vance Enhanced Equity Income Fund II 2.50% $17.05
EVT Eaton Vance Tax-Advantaged Dividend Income Fund 6.43% 18.50
ETY Eaton Vance Tax-Managed Diversified Equity Income Fund 2.50% 10.36
GDV The Gabelli Dividend & Income Trust 6.43% 16.99
GAB The Gabelli Equity Trust Inc. 6.43% 4.44
USA Liberty All-Star Equity Fund 6.43% 5.40
ASG Liberty All-Star Growth Fund, Inc. 6.43% 5.79
JCE Nuveen Core Equity Alpha Fund 6.42% 12.00
RMT Royce Micro-Cap Trust, Inc. 6.43% 6.80
RVT Royce Value Trust, Inc. 6.43% 11.78
Specialized Equity Funds (43.57%)
PEO Adams Natural Resources Fund, Inc. 6.43% 10.86
CII BlackRock Enhanced Capital and Income Fund, Inc. 2.50% 14.07
BME BlackRock Health Sciences Trust 6.43% 40.16
RQI Cohen & Steers Quality Income Realty Fund, Inc. 6.42% 9.23
RFI Cohen & Steers Total Return Realty Fund, Inc. 6.43% 10.93
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund 6.43% 23.34
BXMX Nuveen S&P 500 Buy-Write Income Fund 2.50% 10.96
HQL Tekla Life Sciences Investors 6.43% 17.69

*As of the close of business on 5/21/20.
Market values are for reference only and are not indicative of your individual cost basis.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

Portfolio Summary
Initial Date of Deposit 5/22/2020
Initial Public Offering Price $10.00 per Unit
Portfolio Ending Date 5/23/2022
Historical 12-Month Distribution Rate of Trust Holdings:* 7.95%
Historical 12-Month Distribution Per Unit:* $0.7951
Cash CUSIP 30314A568
Reinvestment CUSIP 30314A576
Fee Accounts Cash CUSIP 30314A584
Fee Accounts Reinvestment CUSIP 30314A592

*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. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the “Historical 12-Month Distribution Rate of Trust Holdings,” which is based on the trailing twelve-month distributions paid by the securities included in a trust, will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. The historical 12-month distribution per unit is based on the weighted average of the trailing 12-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. Certain of the issuers may have reduced their dividends or distributions over the prior 12 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.


Sales Charges & Expenses (based on a $10 public offering price)
Standard Accounts Sales Charges
Transactional Sales Charges: Initial: 0.00%
  Deferred: 2.25%
Creation and Development Fee:   0.50%
Maximum Sales Charge:   2.75%
Fee/Wrap Accounts
Maximum Sales Charge:   0.50%

The deferred sales charge will be deducted in three monthly installments commencing 9/18/20.

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.

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 $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the creation and development fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the creation and development fee will exceed 0.50%.

In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

You should consider the portfolio's investment objectives, 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.

Risk Considerations
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 common stocks.

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.

All of the closed-end funds invest in common stocks. Common stocks are subject to 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.

Certain of the closed-end funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities. Certain of the floating-rate securities pay interest based on LIBOR. Due to the uncertainty regarding the future utilization of LIBOR and the nature of any replacement rate, the potential effect of a transition away from LIBOR on a fund or the financial instruments in which the fund invests cannot yet be determined.

Certain of the closed-end funds invest in call options. Options are subject to various risks including that their value may be adversely affected if the market for the option becomes less liquid or smaller. In addition, options will be affected by changes in the value and dividend rates of the stock subject to the option, an increase in interest rates, a change in the actual and perceived volatility of the stock market and the common stock and the remaining time to expiration.

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.

The recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December 2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.

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.

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.

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.

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

 
Fund Cusip Information
30314A568 (Cash)
30314A576 (Reinvest)
30314A584 (Cash-Fee)
30314A592 (Reinvest-Fee)
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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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