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Tax Exempt Municipal Income, 307  Ticker: FLWQCX
 
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: FT307
Portfolio Status: Secondary
Initial Offer Date: 05/07/2019
Secondary Date: 06/28/2019
Wtd Avg Maturity: 20.7
ELTR Life: 18.4
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,099.1300
NAV(*): $953.9700
POP(*): Not Avail
PAR(*): $996.2000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 10/02/2024 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
33741B407 Monthly $2.3800 $37.2400
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 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
155498EQ7 130,000 CENTRL TX REGL MOBILITY AUTH REV 3.375%, due 01/01/2041  A+ TX 3.37500 01/01/2041M 01/01/2026 100.0000
246154CS5 80,000 DELAWARE ST MUNI ELEC CORP REV 5%, due 10/01/2044  AA DE 5.00000 10/01/2044M 10/01/2029 100.0000
315135JB0 145,000 FERNDALE MI 3.50%, due 10/01/2048  AA MI 3.50000 10/01/2048M 10/01/2027 100.0000
54811BTB7 215,000 LOWER COLORADO RIVER TX AUTH 3.875%, due 05/15/2049  A TX 3.87500 05/15/2049M 05/15/2027 100.0000
57584YQK8 110,000 MASSACHUSETTS ST DEV FIN AGY REV 4%, due 07/01/2044  BBB- MA 4.00000 07/01/2044M 01/01/2029 100.0000
57583U7F9 120,000 MASSACHUSETTS ST DEV FIN AGY REV 5%, due 01/01/2045  BBB+ MA 5.00000 01/01/2045M 01/01/2025 100.0000
592041YP6 140,000 MET GOVT NASHVILLE & DAVIDSON CNTY TN 4%, due 10/01/2049  BBB- TN 4.00000 10/01/2049M 10/01/2029 100.0000
59447TMQ3 115,000 MICHIGAN ST FIN AUTH REVENUE 4%, due 11/15/2046  A MI 4.00000 11/15/2046M 11/15/2026 100.0000
60534WE53 245,000 MISSISSIPPI ST DEV BANK SPL OBLG 4%, due 02/01/2044  NR MS 4.00000 02/01/2044M 02/01/2029 100.0000
612289TD0 105,000 MONTEBELLO CA UNIF SCH DIST 4%, due 08/01/2046  NR CA 4.00000 08/01/2046M 08/01/2026 100.0000
66285WYA8 100,000 N TX TOLLWAY AUTH REVENUE 4.25%, due 01/01/2049  A+ TX 4.25000 01/01/2049M 01/01/2028 100.0000
64542CBK9 130,000 NEW HOPE CULTURAL EDU FACS FIN CORP TX 4%, due 06/15/2043  A+ TX 4.00000 06/15/2043M 06/15/2028 100.0000
64990GME9 250,000 NEW YORK ST DORM AUTH REVENUES 4%, due 07/01/2045  B- NY 4.00000 07/01/2045M 07/01/2029 100.0000
65830RCK3 270,000 NORTH CAROLINA ST TURNPIKE AUTH 5%, due 01/01/2040  BBB NC 5.00000 01/01/2040M 01/01/2029 100.0000
66353RCF9 25,000 NORTHAMPTON CNTY PA GEN PURP AUTH HOSP REV 4%, due 08/15/2048  A- PA 4.00000 08/15/2048M 08/15/2028 100.0000
73420RAP4 120,000 PORT OF GTR CINCINNATI DEV AUTH OH 3.75%, due 12/01/2043  AA OH 3.75000 12/01/2043M 12/01/2028 100.0000
738034HC4 100,000 POTTER CNTY TX 3.25%, due 08/01/2042  AA- TX 3.25000 08/01/2042M 08/01/2029 100.0000
74445FAJ3 100,000 PUBLIC FIN AUTH WI HGR EDU FACS 5%, due 05/01/2047  BBB+ WI 5.00000 05/01/2047M 05/01/2027 100.0000
850752TA4 135,000 SPRINGFIELD MA 3.50%, due 03/01/2047  AA+ MA 3.50000 03/01/2047M 03/01/2028 100.0000
914353V87 140,000 UNIV OF ILLINOIS IL 4.125%, due 04/01/2048  AA IL 4.12500 04/01/2048M 04/01/2028 100.0000
966765QS1 100,000 WHITTIER CA CITY SCH DIST 3.50%, due 08/01/2042  NR CA 3.50000 08/01/2042M 08/01/2027 100.0000
97712DUE4 115,000 WISCONSIN ST HLTH & EDUCTNL FACS AUTH 3.50%, due 02/15/2046  BBB WI 3.50000 02/15/2046M 02/15/2026 100.0000
97712DC46 135,000 WISCONSIN ST HLTH & EDUCTNL FACS AUTH 4%, due 08/15/2048  AA- WI 4.00000 08/15/2048M 08/15/2027 100.0000
 
Total Number of Holdings:    23


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.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

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 professional 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
33741B407 (Cash)
33741B415 (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 professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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