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Stonebridge Preferred Income, 37  Ticker: FYDKIX
This unit investment trust 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.
Product Code: SPRI37
Portfolio Status: Secondary
Initial Offer Date: 06/03/2022
Secondary Date: 07/07/2022
Portfolio Ending Date: 06/03/2024
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $10.0862
POP(*): $10.3183
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 08/05/2022 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 8/5/2022) Per Unit (as of 8/5/2022)
4.69% $0.48430
^ 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. PLEASE NOTE: The historical distribution rate is calculated using only the holdings that have 12 months of distribution history. As of 8/5/2022, there were 6 holdings without the required 12-month distribution history which were excluded from the calculation, representing 7.66% of the aggregate market value of the portfolio. 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. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 Holdings  Export Current Holdings | View Initial Holdings  
 Wells Fargo & Company, Series Z, 4.750% WFC.Z 2.53%
 MetLife, Inc., Series F, 4.750% MET.F 2.46%
 Bank of America Corporation, Series KK, 5.375% BAC.M 2.06%
 Bank of America Corporation, Series LL, 5.000% BAC.N 2.05%
 Prudential Financial, Inc., 4.125%, Due 09/01/2060 PFH 2.02%
 Truist Financial Corporation, Series O, 5.250% TFC.O 2.02%
 Truist Financial Corporation, Series R, 4.750% TFC.R 2.02%
 Algonquin Power & Utilities Corp., Series 19-A, 6.200%, Variable Rate, Due 07/01/2079 AQNB 2.01%
 AT&T Inc., Series C, 4.750% T.C 2.01%
 M&T Bank Corporation, Series H, 5.625% Variable Rate MTB.H 2.00%
 The Allstate Corporation, Series H, 5.100% ALL.H 1.96%
 New York Community Bancorp, Inc., Series A, 6.375%, Variable Rate NYCB.A 1.94%
 Sempra Energy, 5.750%, Due 07/01/2079 SREA 1.71%
 Citizens Financial Group, Inc., Series E, 5.000% CFG.E 1.66%
 Hudson Pacific Properties, Inc., Series C, 4.750% HPP.C 1.60%
 Voya Financial, Inc., Series B, 5.350%, Variable Rate VOYA.B 1.57%
 The Charles Schwab Corporation, Series J, 4.450% SCHW.J 1.57%
 Western Alliance Bancorporation, Series A, 4.250% Variable Rate WAL.A 1.54%
 Capital One Financial Corporation, Series J, 4.800% COF.J 1.53%
 Capital One Financial Corporation, Series I, 5.000% COF.I 1.53%
 W.R. Berkley Corporation, 5.100%, Due 12/30/2059 WRB.F 1.52%
 The Southern Company, Series C, 4.200%, Due 10/15/2060 SOJE 1.52%
 Equitable Holdings, Inc., Series A, 5.250% EQH.A 1.51%
 American Equity Investment Life Holding Company, Series B, 6.625% Variable Rate AEL.B 1.51%
 Vornado Realty Trust, Series N, 5.250% VNO.N 1.51%
 Aegon Funding Company LLC, 5.100%, Due 12/15/2049 AEFC 1.50%
 Signature Bank New York, Series a, 5.000% SBNYP 1.50%
 JPMorgan Chase & Co., Series JJ, 4.55% JPM.K 1.49%
 Carlyle Finance LLC, 4.625%, Due 05/15/2061 CGABL 1.49%
 Duke Energy Corporation, Series A, 5.750% DUK.A 1.48%
 American Equity Investment Life Holding Company, Series A, 5.950%, Variable Rate AEL.A 1.48%
 Regions Financial Corporation, Series B, 6.375%, Variable Rate RF.B 1.47%
 KeyCorp, Series G, 5.625% KEY.K 1.46%
 Annaly Capital Management, Inc., Series I, 6.750% Variable Rate NLY.I 1.41%
 PS Business Parks, Inc., Series Z, 4.875% PSB.Z 1.34%
 Regions Financial Corporation, Series E, 4.450% RF.E 1.29%
 U.S. Bancorp, Series O, 4.500% USB.S 1.24%
 Huntington Bancshares Incorporated, Series H, 4.500% HBANP 1.21%
 Brookfield BRP Holdings, 4.625% BEPH 1.21%
 American Financial Group, Inc., 5.125%, Due 12/15/2059 AFGC 1.07%
 First Republic Bank, Series N, 4.500% FRC.N 1.05%
 First Republic Bank, Series K, 4.125% FRC.K 1.04%
 AT&T Inc., Series A, 5.000% T.A 1.03%
 Stifel Financial Corp., Series C, 6.125% SF.C 1.03%
 Arch Capital Group Ltd., Series G, 4.550% ACGLN 1.03%
 CMS Energy Corp., Series C, 4.200% CMS.C 1.03%
 Athene Holding Ltd., Series B, 5.625% ATH.B 1.02%
 United States Cellular Corporation, 6.250%, Due 09/01/2069 UZD 1.02%
 Assurant, Inc., 5.250%, Due 01/15/2061 AIZN 1.02%
 Public Storage, Series P, 4.000% PSA.P 1.02%
 Globe Life Inc., 4.250%, Due 06/15/2061 GL.D 1.02%
 Athene Holding Ltd., Series A, 6.350%, Variable Rate ATH.A 1.00%
 United States Cellular Corporation, 5.500%, Due 03/01/2070 UZE 1.00%
 United States Cellular Corporation, 5.500%, Due 06/01/2070 UZF 1.00%
 The Southern Company, Series 2020, 4.950%, Due 01/30/2080 SOJD 0.99%
 CHS Inc., Series 3, 6.750%, Variable Rate CHSCM 0.98%
 Morgan Stanley, Series K, 5.850%, Variable Rate MS.K 0.98%
 NextEra Energy Capital Holdings, Inc., Series N, 5.650%, Due 03/01/2079 NEE.N 0.98%
 Wintrust Financial Corporation, Series E, 6.875% Variable Rate WTFCP 0.98%
 Affiliated Managers Group, Inc., 4.200%, Due 09/30/2061 MGRD 0.98%
 Aspen Insurance Holdings Limited, 5.625% AHL.E 0.97%
 Athene Holding Ltd., Series C, 6.375% Variable Rate ATH.C 0.97%
 WESCO International, Inc., Series A, 10.625% Variable Rate WCC.A 0.97%
 Atlantic Union Bankshares Corporation, Series A, 6.875% AUBAP 0.97%
 AGNC Investment Corp., Series E, 6.500% Variable Rate AGNCO 0.93%
 RenaissanceRe Holdings Ltd., Series G, 4.200% RNR.G 0.76%
 PartnerRe Ltd, Series J, 4.875% PRE.J 0.76%
 Spire Inc., Series A, 5.900% SR.A 0.75%
 Pinnacle Financial Partners, Inc., Series B, 6.750% PNFPP 0.73%
 Digital Realty Trust, Inc., Series L, 5.200% DLR.L 0.73%
 Synovus Financial Corp., Series E, 5.875%, Variable Rate SNV.E 0.71%
 U.S. Bancorp, Series M, 4.000% USB.R 0.53%
 Public Storage, Series M, 4.125% PSA.M 0.52%
 First Horizon Corporation, Series F, 4.70% FHN.F 0.52%
 First Republic Bank, Series L, 4.250% FRC.L 0.51%
 Washington Federal, Inc., Series A, 4.875% WAFDP 0.50%
 Wesbanco, Inc., Series A, 6.75% Variable Rate WSBCP 0.49%
 Selective Insurance Group, Inc., Series B, 4.600% SIGIP 0.49%
 CHS Inc., Series 4, 7.500% CHSCL 0.48%
 Public Storage, Series L, 4.625% PSA.L 0.26%
 DTE Energy Company, 4.375%, Due 12/01/2081 DTG 0.25%
Total Number of Holdings:    81
Underlying Securities information represented above is as of 08/05/2022 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 September 20, 2022
$0.07500 October 20, 2022
$0.07500 November 18, 2022

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.

COVID-19 Economic Impact Risk. The COVID-19 global pandemic has caused and may continue to cause significant volatility and declines in global financial markets. While the U.S. has resumed "reasonably" normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. 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.

Market Disruption Risk. In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

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.

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.

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.

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, ©2022 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30326U545 (Cash)
30326U552 (Reinvest)
30326U560 (Cash-Fee)
30326U578 (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 professionals 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. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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