| The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - July (the "Fund") is to seek to provide investors with returns (before fees, expenses and taxes) that match the price return of the SPDR S&P 500 ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of 8.40% (before fees, expenses and taxes) and 7.55% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Funds management fee), while providing a buffer against Underlying ETF losses between -5% and -30% (before fees, expenses and taxes) over the period from July 20, 2020 to July 16, 2021. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options ("FLEX Options") that reference the performance of the SPDR S&P 500 ETF Trust. |