New York Municipal Income Select Closed-End Portfolio, Series 62
Ticker Symbol: FXXAEX
|14 Holdings (As of Day of Deposit)
||BlackRock MuniHoldings New York Quality Fund, Inc.
||BlackRock MuniYield New York Quality Fund, Inc.
||BlackRock New York Municipal Income Trust
||Eaton Vance New York Municipal Bond Fund
||Eaton Vance New York Municipal Income Trust
||Invesco Trust for Investment Grade New York Municipals
||Neuberger Berman New York Municipal Fund Inc.
||Nuveen New York AMT-Free Quality Municipal Income Fund
||Nuveen New York Municipal Value Fund, Inc.
||Nuveen New York Quality Municipal Income Fund
||Nuveen New York Select Tax-Free Income Portfolio
||PIMCO New York Municipal Income Fund
||PIMCO New York Municipal Income Fund II
||PIMCO New York Municipal Income Fund III
* As of the close of business on 3/4/21.
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 Rate of Trust Holdings:*
|Historical 12-Month Distribution Per Unit:*
|Taxable Equivalent 12-Month Distribution Rate 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 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 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. Distributions may include realized short term capital gains, realized long-term capital gains and/
or return of capital. 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. **As of
3/5/21. The taxable equivalent annualized distribution rate is for illustrative purposes only. This information
illustrates approximately what you would have to earn on taxable investments to equal the tax-exempt
annualized distribution rate using the highest New York state marginal tax rate of 8.82% for joint taxpayers
in the 37% federal tax bracket. This information is based on present law as of the date of publication and
does not account for any proposed changes in tax rates. This information does not account for limitations on
deductions, the alternative minimum tax or taxes other than New York state and federal personal income tax.
|Sales Charges (based on a $10 public offering
|Transactional Sales Charges:
|Creation & Development Fee:
|Maximum Sales Charge:
|Maximum Sales Charge:
The deferred sales charge will be deducted in three monthly installments commencing 6/18/21.
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 which is expected to be approximately
six months from the Initial Date of Deposit. 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
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.
You should consider the portfolio's investment objectives, risks, and
charges and expenses carefully 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 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 municipal bonds.
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.
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.
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. The portfolio is also subject to
additional risks as a result of its concentration in bonds issued by
New York municipalities, including a deterioration of the
economic factors affecting the state.
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 COVID-19 global pandemic has resulted in major disruptions to economies and markets around the world. Financial markets have experienced extreme volatility and severe losses, negatively impacting global economic
growth prospects. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty and may exacerbate other political, social and economic risks.
This UIT is a buy and hold strategy and investors should consider
their ability to hold the trust until maturity.
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.
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.
For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.