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Tax Exempt Municipal Income, 332  Ticker: FCVDIX
 
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: FT332
Portfolio Status: Secondary
Initial Offer Date: 11/15/2023
Secondary Date: 12/12/2023
Wtd Avg Maturity: 24.8
ELTR Life: 20.4
Tax Structure: Regulated Investment Company
 
Initial Offer Price: $914.7100
NAV(*): $939.0900
POP(*): $975.2000
PAR(*): $994.1000
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 02/23/2024 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
33741C389 Monthly $1.7400 $36.7400 3.770% 3.703%


 Holdings  Export Current Holdings | View Initial Holdings  
CUSIPParDescriptionS&P RatingStCouponMaturity(M)
/Escrow(E)
/Refund(R)
Date
Next
Call Date
Call
Price
01728LGF3 300,000 ALLEGHENY CNTY PA ARPT AUTH 5%, due 01/01/2051  NR PA 5.00000 01/01/2051M 01/01/2031 100.0000
107416QP7 185,000 BREVARD CNTY FL HLTH FACS AUTH 5%, due 04/01/2052  A FL 5.00000 04/01/2052M 04/01/2032 100.0000
155498KP2 300,000 CENTRL TX REGL MOBILITY AUTH REV 5%, due 01/01/2045  A TX 5.00000 01/01/2045M 01/01/2030 100.0000
167593M58 100,000 CHICAGO IL O'HARE INTL ARPT REV 5%, due 01/01/2048  A+ IL 5.00000 01/01/2048M 01/01/2029 100.0000
167593M66 110,000 CHICAGO IL O'HARE INTL ARPT REV 5%, due 01/01/2053  A+ IL 5.00000 01/01/2053M 01/01/2029 100.0000
190813SC0 300,000 COBB CNTY GA KENNESTONE HOSP AUTH 5%, due 04/01/2050  A+ GA 5.00000 04/01/2050M 04/01/2030 100.0000
276552HY5 100,000 ESTRN KY UNIV GEN RECPTS 4.125%, due 04/01/2048  AA KY 4.12500 04/01/2048M 04/01/2032 100.0000
366133RT5 100,000 GARLAND TX ELEC UTILITY SYS REV 4%, due 03/01/2051  NR TX 4.00000 03/01/2051M 03/01/2031 100.0000
414967JZ3 325,000 HARRIS CNTY TX MUNI UTILITY DIST 158 4.50%, due 09/01/2045  AA TX 4.50000 09/01/2045M 09/01/2029 100.0000
42951YAD8 250,000 HIDDEN VLY LAKE CMNTY SVC DIST CA 5%, due 02/01/2048  A CA 5.00000 02/01/2048M 02/01/2033 100.0000
452252PY9 150,000 ILLINOIS ST TOLL HIGHWAY AUTH 4%, due 01/01/2046  AA- IL 4.00000 01/01/2046M 01/01/2032 100.0000
52385LDQ9 225,000 LEE MEMORIAL HLTH SYS FL HOSP REV 4%, due 04/01/2049  A+ FL 4.00000 04/01/2049M 04/01/2029 100.0000
549203XM4 120,000 LUBBOCK TX ELEC LIGHT & PWR SYS 4%, due 04/15/2046  A TX 4.00000 04/15/2046M 04/15/2030 100.0000
556589JF7 125,000 MADISON AL WTR & WSTWTR BRD 3%, due 12/01/2050  AA+ AL 3.00000 12/01/2050M 12/01/2029 100.0000
56042RYH9 100,000 MAINE HLTH & HGR EDUCTNL FACS AUTH 4%, due 07/01/2045  A+ ME 4.00000 07/01/2045M 07/01/2030 100.0000
575175JM7 250,000 MASON CNTY WA PUBLIC UTILITY DIST 3 4%, due 12/01/2045  A+ WA 4.00000 12/01/2045M 12/01/2029 100.0000
592029BN1 450,000 MET GOVT NASHVILLE & DAVIDSON CNTY TN 4%, due 05/01/2046  A TN 4.00000 05/01/2046M 05/01/2031 100.0000
59335KDH7 100,000 MIAMI-DADE CNTY FL SEAPORT REV 4%, due 10/01/2049  AA FL 4.00000 10/01/2049M 10/01/2031 100.0000
59447TUD3 300,000 MICHIGAN ST FIN AUTH REVENUE 4%, due 12/01/2048  AA- MI 4.00000 12/01/2048M 12/01/2028 100.0000
616871LS6 600,000 MORENO VLY CA UNIF SCH DIST 3%, due 08/01/2050  AA CA 3.00000 08/01/2050M 08/01/2031 100.0000
64577B7S7 500,000 NEW JERSEY ST ECON DEV AUTH REV 4%, due 06/15/2049  A- NJ 4.00000 06/15/2049M 12/15/2029 100.0000
69651ABM5 300,000 PALM BEACH CNTY FL HLTH FACS AUTH 4%, due 08/15/2049  AA- FL 4.00000 08/15/2049M 08/15/2029 100.0000
703895ME9 500,000 PAW PAW MI PUBLIC SCH DIST 4%, due 05/01/2052  AA MI 4.00000 05/01/2052M 05/01/2032 100.0000
709225DZ6 105,000 PENNSYLVANIA ST TURNPIKE COMMN TPK REV 4%, due 12/01/2051  A+ PA 4.00000 12/01/2051M 12/01/2031 100.0000
76912DCG1 300,000 RIVERSIDE CNTY CA TRANSPRTN COMMN 3%, due 06/01/2049  AA CA 3.00000 06/01/2049M 06/01/2031 100.0000
87638QSA8 100,000 TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 4%, due 10/01/2047  AA- TX 4.00000 10/01/2047M 04/01/2032 100.0000
906400GE0 250,000 UNION CNTY NC ENTERPRISE SYS REV 3%, due 06/01/2051  AA+ NC 3.00000 06/01/2051M 06/01/2031 100.0000
91754RM61 300,000 UTAH ST BRD OF RGTS REVENUE 3%, due 06/01/2049  AA UT 3.00000 06/01/2049M 06/01/2029 100.0000
937411MW3 110,000 WASHINGTON CA UNIF SCH DIST 3%, due 08/01/2048  AA CA 3.00000 08/01/2048M 08/01/2031 100.0000
982038SE2 150,000 WORTHINGTON OH CITY SCH DIST 3.75%, due 12/01/2048  AA+ OH 3.75000 12/01/2048M 12/01/2028 100.0000
 
Total Number of Holdings:    30


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.

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

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
33741C389 (Cash)
33741C397 (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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