Banking Opportunity Portfolio, Series 29

Following extraordinary turmoil after the 2008 financial crisis, U.S. banks continue to make progress. According to the FDIC, for the third quarter 2017, quarterly net income for all insured commercial banks and savings institutions totaled $47.9 billion. Through September 30, 2017, only 3.82% of insured banks were reported as unprofitable institutions, down from 4.00% a year earlier.


Thanks in part to consolidation, U.S. banks have achieved remarkable growth in assets. At year-end 2000, the 9,904 reporting FDIC-insured commercial banks and savings institutions had aggregate assets of $7.5 trillion; as of September 30, 2017, the number of reporting banks had fallen to 4,969 while total assets increased to $16.0 trillion, a gain of over 113% in assets.*

Improved efficiency, lower operating costs and increased volume are a few of the benefits of consolidation. With the financial demands of an aging population, continued competition and the vast number of financial choices, we believe consolidation will continue to play an important role as institutions seek to grow their capabilities and gain market share.

Portfolio Objective

This unit investment trust seeks above-average capital appreciation by investing in an unmanaged, diversified portfolio of commercial banks; however, there is no assurance the objective will be met.

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.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

Risk Considerations:
An investment in this unmanaged unit investment trust should be made with an understanding of the risks involved with owning common stocks, 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.

You should be aware that an investment that is concentrated in banking company stocks involves additional risks, including limited diversification. The banking industry is subject to the adverse effects of volatile interest rates, economic recession, increased competition from new entrants in the field, and potential increased regulation.

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.

Although this portfolio terminates in approximately 15 months, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

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.