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Target Outcome Investments
Target Outcome Investments are designed to provide investors with a solution to target investment objectives such as limiting downside losses, potential for growth and/or income within a specified time period. First Trust Target Outcome strategies provide access to a broad range of asset classes and market sectors and are available at First Trust through exchange-traded funds (ETFs) and unit investment trusts (UITs). Cboe Vest Financial LLC created Target Outcome Strategies and is the sub-advisor and portfolio manager to the ETFs and serves as the portfolio consultant to the UITs.
Target Outcome UITs
Cboe Vest Manager Profile
Target Outcome ETFs
Target Outcome Unit Investment Trusts
Trust Name Approx. Buffer Level
(% of NAV)*
Approx. Term Pre-Ticketing Deadline Pricing Date Cap Information
Cboe Vest International Buffered 20, Series 2 30% 15 Months 9/28/2023 9/29/2023 Cap and Buffer Information
Cboe Vest Large Cap Deep Buffered 20, Series 42 20% 15 Months 10/2/2023 10/3/2023 Cap and Buffer Information
Cboe Vest Nasdaq 100 Buffered 20, Series 3 20% 15 Months 10/9/2023 10/10/2023 Cap and Buffer Information
Cboe Vest Enhanced Large Cap Buffered 15, Series 8 15% 15 Months 10/11/2023 10/12/2023 Cap and Buffer Information
Cboe Vest Large Cap Deep Buffered 30, Series 14 30% 15 Months 10/16/2023 10/17/2023 Cap and Buffer Information
Cboe Vest Large Cap Deep Buffered 20, Series 43 20% 15 Months 10/23/2023 10/24/2023 Cap and Buffer Information
Cboe Vest Large Cap Buffered 10, Series 52 10% 15 Months 10/25/2023 10/26/2023 Cap and Buffer Information

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.

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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