Stonebridge Preferred Income, 22  Ticker: FKPHAX
 
Description
A unit investment trust that seeks a high rate of current income by investing in a diversified portfolio of preferred securities.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: SPRI22
Portfolio Status: Secondary
Initial Offer Date: 04/03/2019
Secondary Date: 06/25/2019
Portfolio Ending Date: 04/05/2021
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.0044
POP(*): $10.2347
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 09/20/2019 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 9/20/2019) Per Unit (as of 9/20/2019)
4.08% $0.41710
^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
 Citigroup Inc., Series K, 6.875%, Variable Rate C.K 3.95%
 Enbridge Inc., Series B, 6.375%, Variable Rate, Due 04/15/2078 ENBA 3.05%
 Aspen Insurance Holdings Limited, 5.950%, Variable Rate AHL.C 2.84%
 People's United Financial, Inc., Series A, 5.625%, Variable Rate PBCTP 2.67%
 CMS Energy Corp., 5.875%, Due 03/01/2079 CMSD 2.58%
 SCE Trust V, Series K, 5.450%, Variable Rate SCE.K 2.57%
 JPMorgan Chase & Co., Series EE, 6.000% JPM.C 2.54%
 NiSource Inc., Series B, 6.50% Variable Rate NI.B 2.53%
 Air Lease Corporation, Series A, 6.15% Variable Rate AL.A 2.52%
 The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/2053 ALL.B 2.47%
 Morgan Stanley, Series F, 6.875%, Variable Rate MS.F 2.44%
 Bank of America Corporation, Series GG, 6.000% BAC.B 2.43%
 The Charles Schwab Corporation, Series D, 5.950% SCHW.D 2.41%
 Algonquin Power & Utilities Corp., 6.875% Variable Rate, Due 10/17/2078 AQNA 2.25%
 KeyCorp, Series E, 6.125%, Variable Rate KEY.I 2.09%
 New York Community Bancorp, Inc., Series A, 6.375%, Variable Rate NYCB.A 2.07%
 AT&T Inc., 5.625%, Due 08/01/2067 TBC 2.04%
 Citizens Financial Group, Inc., Series D, 6.35% Variable Rate CFG.D 2.03%
 Digital Realty Trust, Inc., Series K, 5.85% DLR.K 2.03%
 Synovus Financial Corp., Series D, 6.300%, Variable Rate SNV.D 1.99%
 The PNC Financial Services Group, Inc., Series P, 6.125%, Variable Rate PNC.P 1.96%
 Regions Financial Corporation, Series B, 6.375%, Variable Rate RF.B 1.96%
 Capital One Financial Corporation, Series H, 6.000% COF.H 1.95%
 United States Cellular Corporation, 7.250%, Due 12/01/2064 UZC 1.69%
 NextEra Energy Capital Holdings, Series N, 5.650%, Due 03/01/2079 NEE.N 1.56%
 Reinsurance Group of America, Incorporated, 5.750%, Variable Rate, Due 06/15/2056 RZB 1.53%
 Legg Mason, Inc., 6.375%, Due 03/15/2056 LMHA 1.51%
 Globe Life Inc., 6.125%, Due 06/15/2056 GL.C 1.50%
 The Hartford Financial Services Group, Inc., Series G, 6.000% HIG.G 1.50%
 Wells Fargo & Company, 6.625%, Variable Rate WFC.R 1.44%
 CHS Inc., Series 2, 7.100%, Variable Rate CHSCN 1.42%
 CHS Inc., Series 3, 6.750%, Variable Rate CHSCM 1.42%
 Qwest Corporation, 6.500%, Due 09/01/2056 CTBB 1.05%
 Brightsphere Investment Group Inc., 5.125%, Due 08/01/2031 BSA 1.03%
 Duke Energy Corporation, 5.625%, Due 09/15/2078 DUKB 1.03%
 Morgan Stanley, Series K, 5.850%, Variable Rate MS.K 1.02%
 Bank of America Corporation, Series HH, 5.875% BAC.K 1.02%
 Qwest Corporation, 7.000%, Due 02/01/2056 CTAA 1.01%
 W.R. Berkley Corporation, 5.750%, Due 06/01/2056 WRB.D 1.01%
 American Homes 4 Rent, Series H, 6.250% AMH.H 1.01%
 Reinsurance Group of America, Incorporated, 6.200%, Variable Rate, Due 09/15/2042 RZA 1.00%
 State Street Corporation, Series D, 5.900%, Variable Rate STT.D 1.00%
 W.R. Berkley Corporation, 5.900%, Due 03/01/2056 WRB.C 1.00%
 State Street Corporation, Series G, 5.350%, Variable Rate STT.G 1.00%
 Valley National Bancorp, Series B, 5.500%, Variable Rate VLYPO 1.00%
 Prudential Financial, Inc., 5.625%, Due 08/15/2058 PRS 1.00%
 U.S. Bancorp, Series F, 6.500%, Variable Rate USB.M 0.99%
 Stifel Financial Corp., Series A, 6.250% SF.A 0.99%
 Two Harbors Investment Corp., Series B, 7.625%, Variable Rate TWO.B 0.99%
 The Hartford Financial Services Group, Inc., 7.875%, Variable Rate, Due 04/15/2042 HGH 0.98%
 United States Cellular Corporation, 7.250%, Due 12/01/2063 UZB 0.98%
 American Homes 4 Rent, Series D, 6.500% AMH.D 0.98%
 American Homes 4 Rent, Series E, 6.350% AMH.E 0.98%
 AGNC Investment Corp., Series C, 7.000%, Variable Rate AGNCN 0.98%
 Digital Realty Trust, Inc., Series C, 6.625%, Due 12/31/2049 DLR.C 0.98%
 The Goldman Sachs Group, Inc., Series J, 5.500%, Variable Rate GS.J 0.97%
 Wells Fargo & Company, Series Q, 5.850%, Variable Rate WFC.Q 0.97%
 The Goldman Sachs Group, Inc., Series K, 6.375%, Variable Rate GS.K 0.97%
 Annaly Capital Management, Inc., Series F, 6.950%, Variable Rate NLY.F 0.96%
 Colony Capital, Inc., Series J, 7.125% CLNY.J 0.95%
 Capital One Financial Corporation, Series F, 6.200% COF.F 0.95%
 Morgan Stanley, Series E, 7.125%, Variable Rate MS.E 0.50%
 eBay Inc., 6.000%, Due 02/01/2056 EBAYL 0.50%
 U.S. Bancorp, Series K, 5.500% USB.P 0.50%
 CHS Inc., Series 4, 7.500% CHSCL 0.47%
 Fifth Third Bancorp, Series I, 6.625%, Variable Rate FITBI 0.25%
 
Total Number of Holdings:    66
Underlying Securities information represented above is as of 09/20/2019 but will vary with future fluctuations in the market.

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.

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.

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.

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.

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.