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Tax Exempt Municipal Income, Intermediate, 38  Ticker: FRVGJX
 
Description
This unit investment trust seeks to distribute income exempt from federal and, in certain instances, state and local income taxes and to preserve capital by investing in a portfolio of investment grade tax-exempt municipal bonds..
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: TEIN38
Portfolio Status: Secondary
Initial Offer Date: 01/15/2019
Secondary Date: 02/25/2019
Wtd Avg Maturity: 4.5
ELTR Life: 3.4
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,152.3300
NAV(*): $1,020.8500
POP(*): Not Avail
PAR(*): $984.5000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 03/28/2024 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Income Information
CUSIP Frequency / Distributions Accrued Interest Estimated Annual Income Estimated Current Return Estimated Long Term Return
33741B282 Monthly $2.6300 $42.9800
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 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
11609SAU4 110,000 BROWNSBURG IN PUBLIC LIBRARY 3.50%, due 07/15/2029  AA IN 3.50000 07/15/2029M 01/15/2029 100.0000
122062ZM7 110,000 BURLINGTON VT 5%, due 11/01/2029  NR VT 5.00000 11/01/2029M 11/01/2028 100.0000
19648FFH2 110,000 COLORADO ST HLTH FACS AUTH HOSP REV N/C, 5%, due 05/15/2027  A CO 5.00000 05/15/2027M    
20772J3V2 190,000 CONNECTICUT ST N/C, 5%, due 10/15/2026  AA- CT 5.00000 10/15/2026M    
214579LR3 60,000 COOK CNTY IL SCH DIST NO 111 N/C, 5%, due 12/01/2027  A+ IL 5.00000 12/01/2027M    
267045HM7 75,000 DUTCHESS CNTY NY LOCAL DEV CORP REV 5%, due 07/01/2030  NR NY 5.00000 07/01/2030M 07/01/2026 100.0000
34073TGB7 140,000 FLORIDA ST HGR EDUCTNL FACS FIN AUTH 5%, due 04/01/2028  A- FL 5.00000 04/01/2028M 04/01/2026 100.0000
392505AL7 115,000 GREELEY CO CTFS PARTN 4%, due 12/01/2029  A+ CO 4.00000 12/01/2029M 12/01/2026 100.0000
46613SFX3 140,000 JEA FL ELEC SYS REVENUE 5%, due 10/01/2030  A+ FL 5.00000 10/01/2030M 10/01/2027 100.0000
483862NE4 100,000 KANE CNTY IL FOREST PRESERVE DIST 3.125%, due 12/15/2030  AA+ IL 3.12500 12/15/2030M 12/15/2025 100.0000
48563UBP5 125,000 KAREGNONDI WTR AUTH MI 5%, due 11/01/2028  A+ MI 5.00000 11/01/2028M 11/01/2027 100.0000
511665KB6 135,000 LAKELAND FL HOSP SYS REVENUE 5%, due 11/15/2028  NR FL 5.00000 11/15/2028M 11/15/2026 100.0000
54628CAG7 125,000 LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS 5%, due 10/01/2028  A LA 5.00000 10/01/2028M 10/01/2027 100.0000
548768FC9 55,000 LOWNDES CNTY MS SCH DIST 3%, due 09/01/2028  A+ MS 3.00000 09/01/2028M 09/01/2025 100.0000
59261AGY7 65,000 MET TRANSPRTN AUTH NY REVENUE 5%, due 11/15/2027  A- NY 5.00000 11/15/2027M 11/15/2026 100.0000
59447TMC4 140,000 MICHIGAN ST FIN AUTH REVENUE 5%, due 11/15/2027  A MI 5.00000 11/15/2027M 11/15/2026 100.0000
647719NR0 135,000 NEW ORLEANS LA SEWAGE SVC REVENUE 5%, due 06/01/2028  A LA 5.00000 06/01/2025R 06/01/2025 100.0000
727866AH8 85,000 PLATTEVILLE-GILCREST FIRE PROT DIST N/C, 4%, due 12/01/2026  A- CO 4.00000 12/01/2026M    
744434DP3 125,000 PUBLIC PWR GENERATION AGY NE REV 5%, due 01/01/2031  NR NE 5.00000 01/01/2031M 01/01/2025 100.0000
759911PX2 125,000 REGL TRANSPRTN AUTH IL 6.50%, due 07/01/2030  AA IL 6.50000 07/01/2030M    
76218NAC1 120,000 RHODE ISLAND ST COMMERCE CORP ARPT REV 5%, due 07/01/2028  A RI 5.00000 07/01/2028M 07/01/2026 100.0000
917567CE7 100,000 UTAH ST TRANSIT AUTH SALES TAX 3%, due 12/15/2029  AA UT 3.00000 12/15/2029M 06/15/2026 100.0000
929522FG0 100,000 WABASH IN SEWAGE WKS REVENUE 3.125%, due 10/01/2028  A- IN 3.12500 10/01/2028M 10/01/2024 100.0000
 
Total Number of Holdings:    23


Risk Considerations

Buy & Hold Risk – Tax-Free Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

Insurance Risks. Certain of the securities in the trust are covered by insurance policies obtained by the issuers or underwriters of the bonds from insurance companies. There can be no assurance that any insurer will be able to satisfy its commitments in the event claims are made in the future.

Municipal Bonds Risk. 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.

Municipal Securities Volatility Risk. 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.

Operational Risk. 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.

Estimated current return is determined by dividing a Trust's estimated net annual interest income per unit by the public offering price per unit. Estimated long-term return is a measure of the estimated return over the estimated life of a Trust. Unlike estimated current return, estimated long-term return reflects maturities, estimated principal prepayments, Trust charges and expenses, and discounts and premiums of securities in a Trust. Returns and prices will fluctuate. Consult a prospectus for a more complete description of the estimated current return and estimated long-term return calculations.

Some of the information may have been obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPESATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. Please see the prospectus for a full description of the bond ratings.

You should carefully consider the trust's investment objectives, risks, and charges and expenses 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 trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

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

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
33741B282 (Cash)
33741B290 (Cash-Wrap)
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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.
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First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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