Technology Dividend Buy-Write, Series 9
Historically, technology companies have been recognized for their growth potential, paying little in dividends. Today, many technology companies have matured into companies with strong balance
sheets and financial flexibility and are paying dividends, while continuing to reinvest in their businesses. According to S&P Dow Jones Indices as of 4/29/22, the technology sector pays more in dividends
than any other sector of the S&P 500 Index. There is, however, no guarantee that companies will declare dividends in the future or that, if declared, they will either remain at current levels or increase
over time.
The Technology Dividend Buy-Write Portfolio is a unit investment trust which invests in a fixed portfolio of common stocks of dividend-paying technology companies, and simultaneously, the portfolio sells a Long-Term Equity AnticiPation Securities (LEAPS®) call option against each position. The writing (selling) of a call option generates income in the form of a premium paid by the option buyer. The portfolio invests this income in U.S. Treasury Notes and the interest received from the Notes is paid to unit holders periodically. You should be aware that a product which includes writing call options may not be suitable for all investors. It may not be appropriate for investors seeking above-average capital appreciation. Before investing, you should make sure you understand the risks of this type of product, and whether it suits your current financial objectives.
Illustrative Market Scenarios
Stock Prices Increase Above the LEAPS’ Exercise Price | The LEAPS are exercised and the
underlying stock shares are sold at the strike price. Profits are limited to the premium income
received from writing the LEAPS, dividends received from the common stocks prior to their
sale from the portfolio, interest received from the U.S. Treasury Obligations, plus the difference
between each common stock’s initial price and their strike price. Investors will forgo any
dividends paid on the common stocks subsequent to their sale from the portfolio and any gain in
the underlying stock price after the stock is sold. It is important to note that writing covered calls
limits the appreciation potential of the underlying common stocks.
Stock Prices Remain Stable | The LEAPS expire worthless and the portfolio still owns the stock shares. Profits are limited to the premium income received from writing the LEAPS, plus dividends from the stocks, as well as interest received from the U.S. Treasury Obligations.
Stock Prices Decrease | The LEAPS expire worthless and the portfolio still owns the stock shares. The break even on the stocks is lowered by the premium income received from writing the LEAPS. In addition, the portfolio will receive dividends from the stocks, and interest from the U.S. Treasury Obligations.

Portfolio Objectives
This unit investment trust seeks to provide income, with capital appreciation as a secondary objective. There is, however, no assurance that the objectives will be achieved. The portfolio terminates approximately sixteen months from the initial date of deposit.
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 the understanding of the risks involved with common stocks, LEAPS, and U.S. Treasury notes.
Common stocks are subject to 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.
The value of U.S. Treasury notes will be adversely affected by decreases in bond prices and
increases in interest rates.
The value of the LEAPS is deducted from the value of the portfolio assets when determining the value of a
unit. As the value of the LEAPS increases, it has a more negative impact on the value of the units. The value
of the LEAPS will also be affected by changes in the value and dividend rates of the underlying stocks, an
increase in interest rates, a change in the actual and perceived volatility of the stock market and the stocks
and the remaining time to expiration. Additionally, the value of the LEAPS does not increase or decrease at
the same rate as the underlying stock. However, as the LEAPS approach their expiration date, their value
increasingly moves with the price of the stock.
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.
You should be aware that the portfolio is concentrated in stocks in the information technology sector which
involves additional risks, including limited diversification. The companies engaged in the information
technology sector are subject to fierce competition, high research and development costs, and their products
and services may be subject to rapid obsolescence. Technology company stocks, especially those which are
Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their
operating performance.
Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non- U.S. issuers.
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.
In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.
The COVID-19 global pandemic has caused and may continue to cause significant volatility and declines in global financial markets. While the U.S. has resumed “reasonably” normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.
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.
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.