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Additional Target Outcome Tools and Resources are available: Financial representatives can logon to access education modules, investment insights and additional tools to analyze current and historical Target Outcome Period performance, calculate Target Outcome Period values and view hypothetical Target Outcome scenarios. Click here to access.
Target Outcome Tools
Target Outcome Fund:
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Outcome Period: |
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Outcome Period Values
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Series
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December
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Reference Asset
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SPDR® S&P 500® ETF Trust
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Cap (Net)
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16.68% (15.83%)
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Buffer Start (Net)
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-5.00% (-5.85%)
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Buffer End (Net)
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-30.00% (-30.85%)
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Outcome Period
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12/19/2022 - 12/15/2023
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Current Values
(as of 6/1/2023 at 4:00 PM ET)
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Fund Value/Return
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$32.78 / 7.15%
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Reference Asset Value/Return
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$421.84 / 10.06%
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Remaining Outcome Period
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197 days
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Remaining Cap (Net)
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8.53% (8.11%)
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Reference Asset Return to Realize the Cap
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6.01%
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Remaining Buffer
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Reference Asset to Buffer End
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36.40%
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+ Unrealized Option Payoff
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0.00%
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+ Downside Before Buffer
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-11.70%
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Remaining Buffer (Net)
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24.70% (24.27%)
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Reference Asset and Fund Values
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Cap Reference Asset Value
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$447.20
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Starting Reference Asset Value
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$383.27
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Buffer Start Reference Asset Value
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$364.11
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Buffer End Reference Asset Value
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$268.29
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Cap Fund Value^
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$35.69
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Starting Fund Value
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$30.59
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Buffer Start Fund Value^
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$29.06
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Buffer End Fund Value^
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$29.06
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Definitions |
Net - After fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund's management fee.
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Fund Value/Return - The current bid/ask midpoint of the Fund, and the return of the Fund since the start of the Outcome Period.
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Reference Asset Value/Return - The current value and the price return of the Reference Asset since the start of the Outcome Period.
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Remaining Outcome Period - The number of days remaining until the end of the Outcome Period.
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Remaining Cap - Based on the Fund's current bid/ask midpoint, the best potential return if held to the end of the Outcome Period, assuming the Reference Asset meets or exceeds the Cap Reference Asset Value.
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Reference Asset Return to Realize the Cap - The return of the Reference Asset currently needed in order for the Fund to realize the return of the Remaining Cap.
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Remaining Buffer - The current amount of the Fund's stated buffer remaining which is the sum of Downside Before Buffer, Reference Asset to Buffer End, and Unrealized Option Payoff.
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Reference Asset to Buffer End - The loss of the Reference Asset from its current value to the Buffer End Reference Asset Value.
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Unrealized Option Payoff - Based on the Fund's current bid/ask midpoint, the potential investment outcome of the Fund, before fees and expenses, if held to the end of the Target Outcome period assuming the current Reference Asset Value quoted above remains unchanged. This is due to the intrinsic value of the underlying options positions that create the Fund's buffer range.
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Downside Before Buffer - Based on the Fund value, the amount of Fund loss that can be incurred prior to the buffer taking effect.
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The "Reference Asset and Fund Values" represent the values that trigger the Cap and the Start and End of the Buffer range for the respective Reference Asset and Fund.
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^ The Cap Fund Value, Buffer Start Fund Value and Buffer End Fund Value are all calculated before fees and expenses.
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The Outcome Period Values are shown both gross and net of fees. The outcome values may only be realized for an investor who holds shares for the outcome period shown.
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Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.
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Standardized fund performance can be found on each fund's summary page by clicking on the fund name or ticker shown above.
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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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