|First Trust Senior Floating Rate Income Fund II (FCT):|
|Distribution per share:||$0.07|
|Distribution Rate based on the November 18, 2016 NAV of $14.14:||5.94%|
|Distribution Rate based on the November 18, 2016 closing market price of $13.57:||6.19%|
Past performance is no assurance of future results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.Principal Risk Factors: The Senior Loans in which the Fund invests are generally considered to be "high-yield securities". High yield securities are subject to greater market fluctuations and risk of loss than securities with higher ratings. Lower-quality debt tends to be less liquid than higher-quality debt. The Fund's portfolio is also subject to credit risk, interest rate risk, liquidity risk and prepayment risk. Interest rate risk is the risk that fixed-income securities will decline in value because of changes in market interest rates. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and that the value of a security may decline as a result. Credit risk may be heightened for the Fund because it invests in below investment grade securities. Liquidity risk is the risk that the fund may have difficulty disposing of senior loans if it seeks to repay debt, pay dividends or expenses, or take advantage of a new investment opportunity. Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. The Fund may not be able to reinvest the proceeds received on terms as favorable as the prepaid loan. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses. The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings. The Fund's daily New York Stock Exchange closing price and daily net asset value, as well as other information are available at www.ftportfolios.com or by calling 1-800-988-5891.