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Tax Exempt Municipal Income, 10–20 Year, 32  Ticker: FJATCX
This unit investment trust seeks investors with income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of investment grade tax-exempt municipal bonds.
Product Code: TELI32
Portfolio Status: Secondary
Initial Offer Date: 01/18/2018
Secondary Date: 03/09/2018
Wtd Avg Maturity: 18.1
ELTR Life: 16.8
Tax Structure: Regulated Investment Company
Initial Offer Price: $1,084.9500
NAV(*): $991.7800
POP(*): $1,030.0500
PAR(*): $1,000.3000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 12/14/2018 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
33739U722 Monthly $0.8400 $37.4500 3.640% 3.431%

 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
Call Date
08451PAT8 200,000 BERKS CNTY PA INDL DEV AUTH HLTH SYS 4%, due 11/01/2038  A PA 4.00000 11/01/2038M 11/01/2027 100.0000
123550HW8 175,000 BUTLER CNTY OH HOSP FACS 4%, due 11/15/2037  A OH 4.00000 11/15/2037M 11/15/2027 100.0000
132034AL3 250,000 CAMBRIA CNTY PA GEN FING AUTH 5%, due 11/01/2034  BBB PA 5.00000 11/01/2034M 10/01/2027 100.0000
153476AU0 250,000 CENTRAL FLORIDA EXPRESSWAY AUTH 4%, due 07/01/2037  A+ FL 4.00000 07/01/2037M 07/01/2026 100.0000
20774Y2V8 250,000 CONNECTICUT ST HLTH & EDUCTNL FACS AUTH 3.25%, due 07/01/2033  A- CT 3.25000 07/01/2033M 07/01/2027 100.0000
242559QF2 250,000 DEARBORN MI 3%, due 04/01/2038  AA MI 3.00000 04/01/2038M 04/01/2027 100.0000
41401PCU5 250,000 HARRIS CNTY TX CULTURAL EDU FACS FIN CORP 4%, due 11/15/2037  AA TX 4.00000 11/15/2037M 11/15/2027 100.0000
424682HZ8 210,000 HEMPSTEAD TOWN NY LOCAL DEV CORP 5%, due 07/01/2038  BBB NY 5.00000 07/01/2038M 07/01/2027 100.0000
45204EUY2 305,000 ILLINOIS ST FIN AUTH REVENUE 4%, due 08/01/2032  BBB+ IL 4.00000 08/01/2032M 08/01/2027 100.0000
452252MS5 350,000 ILLINOIS ST TOLL HIGHWAY AUTH 5%, due 01/01/2039  AA- IL 5.00000 01/01/2039M 01/01/2028 100.0000
59261AQN0 250,000 MET TRANSPRTN AUTH NY REVENUE 4%, due 11/15/2038  A+ NY 4.00000 11/15/2038M 05/15/2028 100.0000
59334DKL7 250,000 MIAMI-DADE CNTY FL WTR & SWR REV 4%, due 10/01/2037  A+ FL 4.00000 10/01/2037M 10/01/2027 100.0000
665250CT1 250,000 NTHRN IL MUNI PWR AGY PWR PROJ 3%, due 12/01/2034  NR IL 3.00000 12/01/2034M 12/01/2026 100.0000
709224E39 250,000 PENNSYLVANIA ST TURNPIKE COMMN TPK REV 4%, due 12/01/2037  NR PA 4.00000 12/01/2037M 12/01/2027 100.0000
744434EH0 375,000 PUBLIC PWR GENERATION AGY NE REV 3.25%, due 01/01/2036  NR NE 3.25000 01/01/2036M 07/01/2026 100.0000
838810EA3 210,000 S MIAMI FL HLTH FACS AUTH 4%, due 08/15/2036  AA- FL 4.00000 08/15/2036M 08/15/2027 100.0000
845040MA9 215,000 S W TX HGR EDU AUTH 4%, due 10/01/2037  AA- TX 4.00000 10/01/2037M 10/01/2027 100.0000
837681FC4 250,000 SOUTH ELGIN IL 3.375%, due 01/01/2039  NR IL 3.37500 01/01/2039M 01/01/2027 100.0000
927793E62 250,000 VIRGINIA ST CMWLTH TRANSPRTN BRD 4%, due 05/15/2036  AA+ VA 4.00000 05/15/2036M 11/15/2027 100.0000
93978HTY1 215,000 WASHINGTON ST HLTH CARE FACS AUTH 4%, due 07/01/2037  A WA 4.00000 07/01/2037M 01/01/2028 100.0000
940859BN0 250,000 WASHOE CNTY NV SCH DIST 3.125%, due 10/01/2038  AA NV 3.12500 10/01/2038M 10/01/2027 100.0000
97712DA48 200,000 WISCONSIN ST HLTH & EDUCTNL FACS AUTH 4%, due 02/15/2037  A- WI 4.00000 02/15/2037M 02/15/2027 100.0000
Total Number of Holdings:    22

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.

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 cyber security.

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 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 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.

Fund Cusip Information
33739U722 (Cash)
33739U730 (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 and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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