First Trust - www.FTPortfolios.com

Overview

Target Outcome ETFs

Target Outcome Unit Investment Trusts

Trust Name	Approx. Buffer Level (% of NAV)^*	Approx. Term	Pre-Ticketing Deadline	Pricing Date
Cboe Vest International Buffered 20, Series 2	30%	15 Months	9/28/2023	9/29/2023
Cboe Vest Large Cap Deep Buffered 20, Series 42	20%	15 Months	10/2/2023	10/3/2023
Cboe Vest Nasdaq 100 Buffered 20, Series 3	20%	15 Months	10/9/2023	10/10/2023
Cboe Vest Enhanced Large Cap Buffered 15, Series 8	15%	15 Months	10/11/2023	10/12/2023
Cboe Vest Large Cap Deep Buffered 30, Series 14	30%	15 Months	10/16/2023	10/17/2023
Cboe Vest Large Cap Deep Buffered 20, Series 43	20%	15 Months	10/23/2023	10/24/2023
Cboe Vest Large Cap Buffered 10, Series 52	10%	15 Months	10/25/2023	10/26/2023

Previous Target Outcome Unit Investment Trusts
A list of previous Target Outcome Unit Investment Trusts (UITs) can be found below:

^*The buffers are fixed levels that are calculated in relation to the price of the underlying ETF as of the time the FLEX Options are executed on the trust’s initial date of deposit. Any change in the market value of a trust’s assets between the time the FLEX Options are executed and the evaluation time on the initial date of deposit will result in unitholders experiencing a buffer different from what is described above. The buffer level does not account for sales charges, organization costs, trust fees and expenses. A trust’s ability to provide returns with a capped upside and partial downside protection is dependent on unit holders purchasing units at a price equal to the initial net asset value and holding them until the trust’s termination date.

Cboe^® is a registered trademark of Cboe Exchange, Inc., which has been licensed for use in the name of the funds. The funds are not sponsored, endorsed, sold or marketed by Cboe Exchange, Inc. or any of its affiliates ("Cboe") or their respective third-party providers, and Cboe and its third-party providers make no representation regarding the advisability of investing in the funds and shall have no liability whatsoever in connection with the funds.

The Sponsor may elect to postpone the trust if certain adverse market conditions occur that affect volatility and pricing of the FLEX Options.

The information in the prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. The prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

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.