MLP Closed-End Fund and Energy, 58  Ticker: FQWKBX
A unit investment trust that seeks a high rate of current monthly income and the potential for growth of principal by investing approximately 50% of the trust’s assets in closed-end funds that invest in master limited partnerships from the energy infrastructure industry and approximately 50% of the trust’s assets in common stocks of energy companies.
Product Code: MLEN58
Portfolio Status: Primary
Initial Offer Date: 01/12/2018
Portfolio Ending Date: 01/21/2020
Tax Structure: Grantor
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $7.7899
POP(*): $7.9588
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 03/23/2018 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.

 Estimated Net Annual Distribution Per Unit
Year 1 * $0.6136
Subsequent Years * $0.6112
As of 03/19/2018
* The estimated net annual distribution for subsequent years is expected to be less than the amount for the first year because a portion of the securities included in the portfolio will be sold to pay for organization costs, the deferred sales charge and the creation and development fee.  The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings  Export Current Holdings | View Initial Holdings  
 Cheniere Energy Partners LP Holdings, LLC CQH 7.49%
 Targa Resources Corp. TRGP 6.94%
 Pembina Pipeline Corporation PBA 6.65%
 TransCanada Corporation TRP 6.52%
 Kayne Anderson Energy Development Company KED 6.47%
 Tortoise MLP Fund, Inc. NTG 6.23%
 Inter Pipeline Ltd. IPL.CN 6.22%
 Nuveen Energy MLP Total Return Fund JMF 5.99%
 Kinder Morgan, Inc. KMI 5.96%
 Goldman Sachs MLP Income Opportunities Fund GMZ 5.95%
 Center Coast Brookfield MLP & Energy Infrastructure Fund CEN 5.94%
 Kayne Anderson Energy Total Return Fund, Inc. KYE 5.93%
 The Williams Companies, Inc. WMB 5.91%
 ClearBridge Energy MLP Total Return Fund Inc. CTR 5.86%
 Enbridge Inc. ENB 5.78%
 Fiduciary/Claymore MLP Opportunity Fund FMO 5.58%
Total Number of Holdings:    16
Underlying Securities information represented above is as of 03/23/2018 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  -0.71%
  Deferred:  2.83%
C&D Fee:    0.63%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30306G227 Cash Monthly
30306G235 Reinvest Monthly
* Based on the offer price as of 03/23/2018 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.64%
Maximum Sales Charge:   0.64%
CUSIP Type Distribution
30306G243 Cash-Fee Monthly
30306G250 Reinvest-Fee Monthly
* Based on the NAV price as of 03/23/2018 4:00pm ET
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 April 20, 2018
$0.07500 May 18, 2018
$0.07500 June 20, 2018

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, 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.

Sector Concentration Risk. A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

Buy & Hold Risk – Taxable Trusts. 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.

Canadian Concentration Risk. Because the portfolio is concentrated in companies headquartered, or with a significant presence, in Canada, the portfolio may present more risks than a portfolio which is broadly diversified over several regions.

Closed-End Fund Risk. 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. Certain closed-end funds may employ the use of leverage, which increases the volatility of such funds.

Energy Risk. The companies engaged in the energy sector are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes, price controls, and other regulatory policies of various governments. Falling oil and gas prices may negatively impact the profitability and business prospects of certain energy companies.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

Small-Cap and Mid-Cap Risk. 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.

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.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. 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.

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.

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.