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Equity Closed-End, 52  Ticker: FNLAGX
 
Description
The Equity Closed-End Portfolio is a unit investment trust that is comprised of a pool of closed-end funds which invest in dividend-paying common stocks. The portfolio seeks high current income, with total return as a secondary objective
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CEEQ52
Portfolio Status: Primary
Initial Offer Date: 03/11/2019
Portfolio Ending Date: 03/11/2021
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.9617
POP(*): $10.1920
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 04/17/2019 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 4/17/2019) Per Unit (as of 4/15/2019)
8.10% $0.82580
^There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution rate is calculated using only the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Liberty All-Star Growth Fund, Inc. ASG 3.51%
 Eaton Vance Tax-Advantaged Dividend Income Fund EVT 3.47%
 Liberty All-Star Equity Fund USA 3.43%
 Eaton Vance Tax-Advantaged Global Dividend Income Fund ETG 3.43%
 Eaton Vance Risk-Managed Diversified Equity Income Fund ETJ 3.42%
 Eaton Vance Tax-Managed Global Diversified Equity Income Fund EXG 3.40%
 Aberdeen Total Dynamic Dividend Fund AOD 3.39%
 Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund ETO 3.38%
 Royce Value Trust, Inc. RVT 3.37%
 Calamos Global Dynamic Income Fund CHW 3.36%
 Calamos Global Total Return Fund CGO 3.36%
 Fiduciary/Claymore Energy Infrastructure Fund FMO 3.35%
 The Gabelli Dividend & Income Trust GDV 3.34%
 BlackRock Enhanced Equity Dividend Trust BDJ 3.33%
 The Cushing Renaissance Fund SZC 3.33%
 Lazard Global Total Return and Income Fund, Inc. LGI 3.30%
 The Cushing MLP & Infrastructure Total Return Fund SRV 3.30%
 Royce Micro-Cap Trust, Inc. RMT 3.29%
 BlackRock Energy and Resources Trust BGR 3.28%
 Cohen & Steers Global Income Builder, Inc. INB 3.27%
 Nuveen S&P 500 Buy-Write Income Fund BXMX 3.26%
 Nuveen Tax-Advantaged Total Return Strategy Fund JTA 3.26%
 John Hancock Financial Opportunities Fund BTO 3.25%
 Tortoise Energy Infrastructure Corporation TYG 3.24%
 The Gabelli Equity Trust Inc. GAB 3.24%
 Aberdeen Global Dynamic Dividend Fund AGD 3.24%
 The Gabelli Multimedia Trust Inc. GGT 3.16%
 Voya Infrastructure, Industrials and Materials Fund IDE 3.13%
 Tekla Life Sciences Investors HQL 3.12%
 BlackRock Health Sciences Trust BME 3.09%
 
Total Number of Holdings:    30
Underlying Securities information represented above is as of 04/17/2019 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.05%
  Deferred:  2.21%
C&D Fee:    0.49%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30297W769 Cash Monthly
30297W777 Reinvest Monthly
* Based on the offer price as of 04/17/2019 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.50%
Maximum Sales Charge:   0.50%
CUSIP Type Distribution
30297W785 Cash-Fee Monthly
30297W793 Reinvest-Fee Monthly
* Based on the NAV price as of 04/17/2019 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 June 20, 2019
$0.07500 July 19, 2019
$0.07500 August 20, 2019

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 employ the use of leverage, which increases the volatility of such funds.

Emerging Markets Risk. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

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.

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.

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.

Fund Cusip Information
30297W769 (Cash)
30297W777 (Reinvest)
30297W785 (Cash-Fee)
30297W793 (Reinvest-Fee)
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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 advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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