Preferred Income, 93  Ticker: FYAPMX
A unit investment trust that seeks a high rate of current income by investing in a diversified portfolio of preferred securities.
Product Code: PRIN93
Portfolio Status: Primary
Initial Offer Date: 12/29/2017
Portfolio Ending Date: 12/30/2019
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.4264
POP(*): $9.6415
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 03/16/2018 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 * $0.4659
Subsequent Years * $0.4641
As of 03/12/2018
* 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  
 AT&T Inc., 5.350%, Due 11/01/2066 TBB 4.44%
 The Hartford Financial Services Group, Inc., 7.875%, Variable Rate, Due 04/15/2042 HGH 4.21%
 The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/2053 ALL.B 4.17%
 U.S. Bancorp, Series F, 6.500%, Variable Rate USB.M 4.12%
 The PNC Financial Services Group, Inc., Series P, 6.125%, Variable Rate PNC.P 4.10%
 Wells Fargo & Company, 5.850%, Variable Rate WFC.Q 4.08%
 Axis Capital Holdings Limited, Series E, 5.500% AXS.E 4.07%
 JPMorgan Chase & Co., Series BB, 6.150% JPM.H 4.05%
 eBay Inc., 6.000%, Due 02/01/2056 EBAYL 4.05%
 Validus Holdings Ltd., 5.800% VR.B 4.04%
 NextEra Energy Capital Holdings, Inc., Series K, 5.250%, Due 06/01/2076 NEE.K 4.01%
 Dominion Energy, Inc., Series A, 5.250%, Due 07/30/2076 DRUA 3.94%
 National Retail Properties, Inc., Series F, 5.200% NNN.F 3.84%
 Federal Realty Investment Trust, Series C, 5.000% FRT.C 3.71%
 Stifel Financial Corp., 5.20%, Due 10/15/2047 SFB 2.59%
 Entergy Louisiana, LLC, 4.875%, Due 09/01/2066 ELC 2.52%
 DTE Energy Company, Series B, 5.375%, Due 06/01/2076 DTJ 2.49%
 Arch Capital Group Ltd., Series E, 5.250% ACGLP 2.48%
 PS Business Parks, Inc., Series X, 5.250% PSB.X 2.43%
 Georgia Power Company, Series 2017, 5.000%, Due 10/01/2077 GPJA 2.42%
 Kimco Realty Corporation, Series L, 5.125% KIM.L 2.32%
 State Street Corporation, Series D, 5.900%, Variable Rate STT.D 2.08%
 State Street Corporation, Series G, 5.350%, Variable Rate STT.G 2.05%
 PartnerRe Ltd., Series G, 6.500% PRE.G 2.04%
 W.R. Berkley Corporation, 5.750%, Due 06/01/2056 WRB.D 2.02%
 PartnerRe Ltd., Series H, 7.250% PRE.H 2.01%
 Entergy Arkansas, Inc., 4.875%, Due 09/01/2066 EAI 2.01%
 Public Storage, Series F, 5.150% PSA.F 2.00%
 Arch Capital Group Ltd., Series F, 5.450% ACGLO 2.00%
 The Southern Company, 5.250%, Due 12/01/2077 SOJC 2.00%
 Public Storage, Series G, 5.050% PSA.G 1.99%
 DTE Energy Company, Series E, 5.250%, Due 12/01/2077 DTW 1.94%
 PS Business Parks, Inc., Series Y, 5.200% PSB.Y 1.91%
 Kimco Realty Corporation, Series M, 5.250% KIM.M 1.87%
Total Number of Holdings:    34
Underlying Securities information represented above is as of 03/16/2018 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  -0.10%
  Deferred:  2.33%
C&D Fee:    0.52%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30306X105 Cash Monthly
30306X113 Reinvest Monthly
* Based on the offer price as of 03/16/2018 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.53%
Maximum Sales Charge:   0.53%
CUSIP Type Distribution
30306X121 Cash-Fee Monthly
30306X139 Reinvest-Fee Monthly
* Based on the NAV price as of 03/16/2018 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.

Financials Risk. The companies engaged in the financials sector are subject to the adverse effects of volatile interest rates, economic recession, decreases in the availability of capital, increased competition from new entrants in the field, and potential increased regulation.

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.

Preferred Securities Risk. Preferred securities are equity securities of the issuing company which pay income in the form of dividends. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure, and therefore will be subject to greater credit risk than those debt instruments.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

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.

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.