Dividend & Income Select Closed-End, 64  Ticker: FLZNSX
 
Description
The Dividend & Income Select Closed-End Portfolio is a unit investment trust that is comprised of a pool of closed-end funds which invest primarily in dividend-paying common stocks. A portion of those funds invest in common stocks and, on an ongoing basis, will sell covered call options. The portfolio seeks to provide above-average total return through a combination of capital appreciation and dividend income.
 
Summary
Product Code: DISL64
Portfolio Status: Secondary
Initial Offer Date: 02/13/2018
Secondary Date: 04/03/2018
Portfolio Ending Date: 02/13/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.8340
POP(*): $10.0604
Remaining Deferred Sales Charge: $0.0750
* As of Trade Date: 06/20/2018 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
Estimated Net Annual Distribution * $0.8078
Subsequent Years * $0.8073
As of 06/18/2018
* 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  
NameSymbolWeighting
 Royce Micro-Cap Trust, Inc. RMT 3.63%
 Calamos Strategic Total Return Fund CSQ 3.57%
 Cohen & Steers Quality Income Realty Fund, Inc. RQI 3.49%
 John Hancock Preferred Income Fund III HPS 3.47%
 Eaton Vance Tax-Advantaged Dividend Income Fund EVT 3.46%
 John Hancock Tax-Advantaged Dividend Income Fund HTD 3.42%
 Principal Real Estate Income Fund PGZ 3.41%
 Nuveen Dow 30 Dynamic Overwrite Fund DIAX 3.41%
 Nuveen S&P 500 Buy-Write Income Fund BXMX 3.38%
 Lazard Global Total Return and Income Fund, Inc. LGI 3.37%
 Columbia Seligman Premium Technology Growth Fund, Inc. STK 3.37%
 Aberdeen Global Premier Properties Fund AWP 3.36%
 Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund ETO 3.35%
 Cohen & Steers Infrastructure Fund, Inc. UTF 3.35%
 The Gabelli Equity Trust Inc. GAB 3.34%
 Calamos Global Dynamic Income Fund CHW 3.34%
 The Gabelli Multimedia Trust Inc. GGT 3.34%
 John Hancock Hedged Equity & Income Fund HEQ 3.31%
 Nuveen Core Equity Alpha Fund JCE 3.30%
 Cohen & Steers Global Income Builder, Inc. INB 3.25%
 Virtus Total Return Fund Inc. ZF 3.23%
 Aberdeen Global Dynamic Dividend Fund AGD 3.22%
 GAMCO Global Gold Natural Resources & Income Trust GGN 3.22%
 LMP Capital and Income Fund Inc. SCD 3.21%
 Voya Global Equity Dividend and Premium Opportunity Fund IGD 3.19%
 Wells Fargo Global Dividend Opportunity Fund EOD 3.18%
 Tekla Healthcare Investors HQH 3.15%
 Brookfield Global Listed Infrastructure Income Fund Inc. INF 3.15%
 Nuveen Diversified Dividend and Income Fund JDD 3.10%
 Nuveen Energy MLP Total Return Fund JMF 3.03%
 
Total Number of Holdings:    30
Underlying Securities information represented above is as of 06/19/2018 but will vary with future fluctuations in the market.

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

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.

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.

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.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

MLP Risk. Investments in Master Limited Partnerships (MLPs) are subject to the risks generally applicable to companies in the energy and natural resources sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. There are certain tax risks associated with MLPs, including the risk that U.S. taxing authorities could challenge the trust's treatment of the MLPs for federal income tax purposes. These tax risks could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the trust's investments.

Options Risk. Options are subject to various risks including that their value may be adversely affected if the market for the option becomes less liquid or smaller. In addition, options will be affected by changes in the value and dividend rates of the stock subject to the option, an increase in interest rates, a change in the actual and perceived volatility of the stock market and the common stock and the remaining time to expiration.

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.

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.