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TORONTO, Aug. 16, 2024 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. (“First Trust Canada”), announced today that the cap, buffer and dates for the next Target Outcome Period for the First Trust Vest U.S. Equity Buffer ETF – AUG (AUGB.F) (the “fund” or “August Buffer ETF”) are as follows:

The previous Target Outcome Period for AUGB.F concluded on August 16, 2024 and the upside cap for the new Target Outcome Period has been reset to prevailing market conditions.

The fund seeks an outcome that provides investors with returns (before fees, expenses and taxes) that match the price return of the SPDR^® S&P 500^® ETF Trust (“SPY” or “underlying ETF”), up to a predetermined upside cap, while providing a buffer against potential SPY losses. The fund is managed and sub-advised by Vest Financial LLC (“Vest”) using a “target outcome strategy” or pre-determined target investment outcome.

If an investor purchases hedged units after the first day of the Target Outcome Period, they will likely have a different return potential than an investor who purchased hedged units at the start of the Target Outcome Period and the buffer the fund seeks may not be available.

First Trust Canada believes a buffer against a level of losses can help investors stay invested during volatile times. The fund offers a way to gain access to outcome-based investing—specifically to buffer against a level of downside risk while allowing growth to a maximum cap— eliminating bank credit risk, in a convenient, flexible investment vehicle.

Karan Sood and Howard Rubin, of Vest, serve as a portfolio managers for the fund. The portfolio managers are jointly and primarily responsible for making investment management decisions for the fund.

For further information: Media Contact: Susan Johnson, FT Portfolios Canada Co., 40 King Street West, Suite 5102, Email: susanjohnson@firsttrust.ca, 1-877-622-5552.

About First Trust
First Trust Canada is the trustee, manager and promoter of the fund. First Trust Canada and its affiliates First Trust Advisors L.P. (“FTA”), portfolio advisor to the fund, an Ontario Securities Commission registered portfolio manager and U.S. Securities and Exchange Commission registered investment advisor, and First Trust Portfolios L.P., a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately U.S.$235.63 billion as of July 31, 2024 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. For more information, visit www.firsttrust.ca.