First Trust Senior Floating Rate 2022 Target Term Fund Declares its Monthly Common Share Distribution of $0.0078 Per Share for October - Seite 2

The Fund has investment objectives to seek a high level of current income and to return $9.85 per Common Share to holders of the Common Shares at termination. The Fund has entered its wind-up period in anticipation of its termination and, accordingly, may deviate from its investment objectives and policies. As the Fund approaches the Termination Date, Fund managers will continue to reduce and eliminate its leverage and to transition the Fund’s portfolio from non-investment grade senior loans to high quality, short-term instruments or cash and cash equivalents. In light of the foregoing and current market conditions, the Fund anticipates the income earned by its portfolio investments will be reduced and, as such, the Fund and First Trust Advisors L.P., the investment advisor of the Fund (“FTA”), have entered into, and the Board has approved, an agreement whereby FTA has agreed to waive the management fee payable by the Fund for the period beginning September 1, 2021 through the Termination Date.

As previously announced, due in part to the impact of the COVID-19 pandemic on market conditions and the U.S. economy beginning in March 2020, it is unlikely that the Fund will achieve its objective of returning $9.85 per Common Share to holders of the Common Shares upon termination. The Fund’s net asset value as of September 17, 2021 was $9.72.

First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), 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 $213 billion as of August 31, 2021 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund may not be appropriate for all investors.