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Tax Exempt Municipal Income, 306  Ticker: FRYCAX
 
Description
This unit investment trust seeks investors with income exempt from federal and applicable state and local income tax and to preserve capital by investing in a portfolio of investment grade municipal bonds.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: FT306
Portfolio Status: Secondary
Initial Offer Date: 03/21/2019
Secondary Date: 04/26/2019
Wtd Avg Maturity: 26.4
ELTR Life: 9.3
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,080.8300
NAV(*): $1,090.4400
POP(*): $1,132.4000
PAR(*): $1,000.2000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 10/16/2019 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.

 Income Information
CUSIP Frequency / Distributions Accrued Interest Estimated Annual Income Estimated Current Return Estimated Long Term Return
33741B365 Monthly $0.8400 $37.6000 3.320% 2.101%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
017357E83 100,000 ALLEGHENY CNTY PA SAN AUTH 4%, due 06/01/2048  A+ PA 4.00000 06/01/2048M 06/01/2028 100.0000
08451PAW1 225,000 BERKS CNTY PA INDL DEV AUTH HLTH SYS 4%, due 11/01/2047  A PA 4.00000 11/01/2047M 11/01/2027 100.0000
13080SWK6 225,000 CALIFORNIA STWD CMNTYS DEV AUTH 4%, due 03/01/2048  A CA 4.00000 03/01/2048M 03/01/2028 100.0000
167593M41 185,000 CHICAGO IL O'HARE INTL ARPT REV 4%, due 01/01/2044  A IL 4.00000 01/01/2044M 01/01/2029 100.0000
19427PBY4 225,000 CLG OF THE MAINLAND TX 3.75%, due 08/15/2049  AA- TX 3.75000 08/15/2049M 08/15/2028 100.0000
276731ZX7 225,000 ESTRN MICHIGAN UNIV REVENUES 4%, due 03/01/2044  AA MI 4.00000 03/01/2044M 03/01/2028 100.0000
366133NB8 105,000 GARLAND TX ELEC UTILITY SYS REV 4%, due 03/01/2049  A+ TX 4.00000 03/01/2049M 03/01/2029 100.0000
45506DP58 250,000 INDIANA ST FIN AUTH REVENUE 4%, due 10/01/2043  A- IN 4.00000 10/01/2043M 10/01/2028 100.0000
525733AZ4 225,000 LEMOORE CA WTR REVENUE 3.625%, due 06/01/2049  AA CA 3.62500 06/01/2049M 06/01/2028 100.0000
573485AT6 225,000 MARTINS FERRY OH CITY SCH DIST 3.625%, due 12/01/2043  AA OH 3.62500 12/01/2043M 06/01/2024 100.0000
57584YQK8 225,000 MASSACHUSETTS ST DEV FIN AGY REV 4%, due 07/01/2044  BBB+ MA 4.00000 07/01/2044M 01/01/2029 100.0000
60534WE53 225,000 MISSISSIPPI ST DEV BANK SPL OBLG 4%, due 02/01/2044  NR MS 4.00000 02/01/2044M 02/01/2029 100.0000
620272BM5 350,000 MOULTRIE-COLQUITT CNTYS GA DEV AUTH 5%, due 12/01/2048  NR GA 5.00000 12/01/2048M 12/01/2028 100.0000
659231AN4 350,000 NORTH EAST TX REGL MOBILITY AUTH 5%, due 01/01/2046  BBB TX 5.00000 01/01/2046M 01/01/2026 100.0000
709224WR6 100,000 PENNSYLVANIA ST TURNPIKE COMMN 5.25%, due 06/01/2047  NR PA 5.25000 06/01/2047M 06/01/2027 100.0000
722746AQ7 250,000 PINE RIDGE CA ELEM SCH DIST 3.625%, due 08/01/2048  AA+ CA 3.62500 08/01/2048M 08/01/2026 100.0000
73420RAQ2 225,000 PORT OF GTR CINCINNATI DEV AUTH OH 3.75%, due 12/01/2048  AA OH 3.75000 12/01/2048M 12/01/2028 100.0000
853207EB0 340,000 STANDARD CA SCH DIST 3.50%, due 08/01/2044  AA CA 3.50000 08/01/2044M 08/01/2028 100.0000
880220EV6 220,000 TEMPLETON MA 3.625%, due 02/15/2042  AA MA 3.62500 02/15/2042M 02/15/2028 100.0000
914353V38 225,000 UNIV OF ILLINOIS IL 4%, due 04/01/2043  AA IL 4.00000 04/01/2043M 04/01/2028 100.0000
97712DPV2 100,000 WISCONSIN ST HLTH & EDUCTNL FACS AUTH 4%, due 12/01/2046  AA- WI 4.00000 12/01/2046M 11/01/2026 100.0000
 
Total Number of Holdings:    21


Risk Considerations

Buy & Hold Risk – Tax-Free Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity.

Insurance Risks. Certain of the securities in the trust are covered by insurance policies obtained by the issuers or underwriters of the bonds from insurance companies. There can be no assurance that any insurer will be able to satisfy its commitments in the event claims are made in the future.

Municipal Bonds Risk. Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal.

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 cybersecurity.

Estimated current return is determined by dividing a Trust's estimated net annual interest income per unit by the public offering price per unit. Estimated long-term return is a measure of the estimated return over the estimated life of a Trust. Unlike estimated current return, estimated long-term return reflects maturities, estimated principal prepayments, Trust charges and expenses, and discounts and premiums of securities in a Trust. Returns and prices will fluctuate. Consult a prospectus for a more complete description of the estimated current return and estimated long-term return calculations.

Some of the information may have been obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third party content in any form is prohibited except with the prior written permission of the related third party. Third party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPESATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES, OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice. Please see the prospectus for a full description of the bond ratings.

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
33741B365 (Cash)
33741B373 (Cash-Wrap)
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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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