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Tax Exempt Municipal Income, 314  Ticker: FRNJVX
 
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: FT314
Portfolio Status: Secondary
Initial Offer Date: 10/13/2020
Secondary Date: 11/18/2020
Wtd Avg Maturity: 22.0
ELTR Life: 14.0
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $1,148.9900
NAV(*): $919.3200
POP(*): Not Avail
PAR(*): $957.3000
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
33741B688 Monthly $2.3000 $35.9200
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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
155498HZ4 220,000 CENTRL TX REGL MOBILITY AUTH REV 5%, due 01/01/2045  A+ TX 5.00000 01/01/2045M 01/01/2030 100.0000
156764DK5 150,000 CERES CA UNIF SCH DIST CTFS PARTN 4%, due 12/01/2042  AA CA 4.00000 12/01/2042M 12/01/2030 100.0000
19648FKT0 200,000 COLORADO ST HLTH FACS AUTH REV 4%, due 08/01/2049  A- CO 4.00000 08/01/2049M 08/01/2029 100.0000
443730QC3 30,000 HUDSON CNTY NJ IMPT AUTH LEASE REV 4%, due 10/01/2051  AA NJ 4.00000 10/01/2051M 10/01/2030 100.0000
452017AT3 250,000 ILLINOIS ST FIN AUTH ACADEMIC FACS LEASE 5%, due 10/01/2051  NR IL 5.00000 10/01/2051M 10/01/2029 100.0000
469205LE6 100,000 JACKSONVILLE AL ST UNIV REVENUE 4%, due 12/01/2045  BBB AL 4.00000 12/01/2045M 06/01/2030 100.0000
491501FD9 245,000 KENTUCKY ST MUNI PWR AGY PWR SYS REV 3%, due 09/01/2043  NR KY 3.00000 09/01/2043M 09/01/2028 100.0000
613603YY9 165,000 MONTGOMERY CNTY PA HGR EDU & HLTH AUTH 5%, due 09/01/2048  A PA 5.00000 09/01/2048M 09/01/2028 100.0000
64542CBK9 100,000 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
64763HGM1 165,000 NEW ORLEANS LA AVIATION BRD 5%, due 01/01/2043  A LA 5.00000 01/01/2043M 01/01/2027 100.0000
64972GXM1 190,000 NEW YORK CITY NY MUNI WTR FIN AUTH 3%, due 06/15/2050  AA+ NY 3.00000 06/15/2050M 12/15/2030 100.0000
64990FPV0 100,000 NEW YORK ST DORM AUTH ST PERSONAL INC TAX 4%, due 02/15/2047  NR NY 4.00000 02/15/2047M 02/15/2030 100.0000
79766DGG8 100,000 SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN 5%, due 05/01/2046  A+ CA 5.00000 05/01/2046M 05/01/2026 100.0000
899138BN0 125,000 TULARE CA WTR REVENUE 3%, due 12/01/2044  AA CA 3.00000 12/01/2044M 12/01/2027 100.0000
959215EP5 110,000 WSTRN PLACER CA UNIF SCH DIST CTFS PARTN 3.125%, due 08/01/2047  AA CA 3.12500 08/01/2047M 08/01/2026 100.0000
 
Total Number of Holdings:    15


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 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
33741B688 (Cash)
33741B696 (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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First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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