487 1 s487.htm FORM S-6 TO EFFECTIVE AMENDMENT

Registration No. 333-279138

1940 Act No. 811-05903

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Amendment No. 1 to Form S-6

FOR REGISTRATION UNDER THE SECURITIES ACT OF 1933 OF SECURITIES OF UNIT INVESTMENT TRUSTS REGISTERED ON FORM N-8B-2

A.Exact name of trust:

FT 11569

B.Name of depositor:

FIRST TRUST PORTFOLIOS L.P.

C.Complete address of depositor's principal executive offices:

120 East Liberty Drive

Suite 400

Wheaton, Illinois 60187

D.Name and complete address of agents for service:

	Copy to:

JAMES A. BOWEN	ERIC F. FESS
c/o First Trust Portfolios L.P.	c/o Chapman and Cutler LLP
120 East Liberty Drive	320 South Canal Street
Suite 400	27th Floor
Wheaton, Illinois 60187	Chicago, Illinois 60606

E.Title and Amount of Securities Being Registered:

An indefinite number of Units pursuant to Rule 24f-2 promulgated under the Investment Company Act of 1940, as amended.

F.Approximate date of proposed sale to public:

As soon as practicable after the effective date of the Registration Statement.

|X|

Check box if it is proposed that this filing will become effective on July 9, 2024 at 2:00 p.m. pursuant to Rule 487.

________________________________

Target Dvd. Blend 3Q '24 - Term 10/9/25
Target High Quality Dvd. 3Q '24 - Term 10/9/25

FT 11569

FT 11569 is a series of a unit investment trust, the FT Series. FT 11569
consists of two separate portfolios listed above (each, a "Trust," and
collectively, the "Trusts"). Each Trust invests in a portfolio of common
stocks ("Securities") selected by applying a specialized strategy. Each Trust
seeks above-average total return.

THE SECURITIES AND EXCHANGE COMMISSION ("SEC") HAS NOT APPROVED OR DISAPPROVED
OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

FIRST TRUST(R)

800-621-1675

The date of this prospectus is July 9, 2024

Table of Contents

Summary of Essential Information 3
Fee Table 4
Report of Independent Registered Public Accounting Firm 5
Statements of Net Assets 6
Schedules of Investments 7
The FT Series 12
Portfolios 12
Risk Factors 14
Backtested Hypothetical Performance Information 17
Public Offering 20
Distribution of Units 22
The Sponsor's Profits 23
The Secondary Market 24
How We Purchase Units 24
Expenses and Charges 24
Tax Status 25
Retirement Plans 27
Rights of Unit Holders 27
Income and Capital Distributions 28
Redeeming Your Units 28
Investing in a New Trust 29
Removing Securities from a Trust 30
Amending or Terminating the Indenture 31
Information on the Sponsor and Trustee 31
Other Information 32

Page 2

Summary of Essential Information (Unaudited)

FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Sponsor: First Trust Portfolios L.P.
Trustee: The Bank of New York Mellon

Target Dividend Blend Target High Quality
Portfolio, 3rd Dividend Portfolio,
Quarter 2024 Series 3rd Quarter 2024 Series
_____________________ _______________________
Initial Number of Units (1) 16,853 13,851
Fractional Undivided Interest in the Trust per Unit (1) 1/16,853 1/13,851
Public Offering Price:
Public Offering Price per Unit (2) $ 10.000 $ 10.000
Less Initial Sales Charge per Unit (3) (.000) (.000)
___________ ___________
Aggregate Offering Price Evaluation of Securities per Unit (4) 10.000 10.000
Less Deferred Sales Charge per Unit (3) (.135) (.135)
___________ ___________
Redemption Price per Unit (5) 9.865 9.865
Less Creation and Development Fee per Unit (3)(5) (.050) (.050)
Less Organization Costs per Unit (5) (.032) (.017)
___________ ___________
Net Asset Value per Unit $ 9.783 $ 9.798
=========== ===========
Cash CUSIP Number 30335W 565 30335W 607
Reinvestment CUSIP Number 30335W 573 30335W 615
Fee Account Cash CUSIP Number 30335W 581 30335W 623
Fee Account Reinvestment CUSIP Number 30335W 599 30335W 631
Ticker Symbol FYAPVX FYKGYX

First Settlement Date July 10, 2024
Mandatory Termination Date (6) October 9, 2025
Income Account Distribution Record Date Tenth day of each month, commencing August 10, 2024.
Income Account Distribution Date (7) Twenty-fifth day of each month, commencing August 25, 2024.

_____________

(1) As of the Evaluation Time (defined below in footnote 4) on July 10, 2024,
we may adjust the number of Units of a Trust so that the Public Offering Price
per Unit will equal approximately $10.00. If we make such an adjustment, the
fractional undivided interest per Unit will vary from the amount indicated
above.

(2) The Public Offering Price shown above reflects the value of the Securities
on the business day prior to the Initial Date of Deposit. No investor will
purchase Units at this price. The price you pay for your Units will be based
on their valuation at the Evaluation Time on the date you purchase your Units.
On the Initial Date of Deposit, the Public Offering Price per Unit will not
include any accumulated dividends on the Securities. After this date, a pro
rata share of any accumulated dividends on the Securities will be included.

(3) You will pay a maximum sales charge of 1.85% of the Public Offering Price
per Unit (equivalent to 1.85% of the net amount invested) which consists of an
initial sales charge, a deferred sales charge and a creation and development
fee. The sales charges are described in the "Fee Table."

(4) Each listed Security is valued at its last closing sale price at the
Evaluation Time on the business day prior to the Initial Date of Deposit. If a
Security is not listed, or if no closing sale price exists, it is valued at
its closing ask price on such date. See "Public Offering-The Value of the
Securities." Evaluations for purposes of determining the purchase, sale or
redemption price of Units are made as of the close of trading on the New York
Stock Exchange ("NYSE") (generally 4:00 p.m. Eastern time) on each day on
which it is open (the "Evaluation Time").

(5) The creation and development fee and estimated organization costs per Unit
will be deducted from the assets of a Trust at the end of the initial offering
period. If Units are redeemed prior to the close of the initial offering
period, these fees will not be deducted from the redemption proceeds. See
"Redeeming Your Units."

(6) See "Amending or Terminating the Indenture."

(7) The Trustee will distribute money from the Income and Capital Accounts
monthly on the twenty-fifth day of each month to Unit holders of record on the
tenth day of each month if the amount available for distribution from an
account equals at least $1.00 per 100 Units. See "Income and Capital
Distributions."

Page 3

Fee Table (Unaudited)

This Fee Table describes the fees and expenses that you may, directly or
indirectly, pay if you buy and hold Units of a Trust. See "Public Offering"
and "Expenses and Charges." Although each Trust has a term of approximately 15
months and is a unit investment trust rather than a mutual fund, this
information allows you to compare fees.

Target Dividend Blend Target High Quality
Portfolio, 3rd Quarter Dividend Portfolio, 3rd
2024 Series Quarter 2024 Series
______________________ _______________________
Amount Amount
per Unit per Unit
________ ________
Unit Holder Sales Fees (as a percentage of public offering price)

Maximum Sales Charge
Initial sales charge 0.00%(a) $.000 0.00%(a) $.000
Deferred sales charge 1.35%(b) $.135 1.35%(b) $.135
Creation and development fee 0.50%(c) $.050 0.50%(c) $.050
_____ _____ _____ _____
Maximum sales charge (including creation and development fee) 1.85% $.185 1.85% $.185
===== ===== ===== =====
Organization Costs (as a percentage of public offering price)
Estimated organization costs .320%(d) $.0320 .170%(d) $.0170
===== ====== ===== ======
Estimated Annual Trust Operating Expenses(e)
(as a percentage of average net assets)
Portfolio supervision, bookkeeping, administrative and
evaluation fees .059% $.0060 .059% $.0060
Trustee's fee and other operating expenses .126%(f) $.0127 .126%(f) $.0127
_____ ______ _____ ______
Total .185% $.0187 .185% $.0187
===== ====== ===== ======

Example

This example is intended to help you compare the cost of investing in a Trust
with the cost of investing in other investment products. The example assumes
that you invest $10,000 in a Trust and the principal amount and distributions
are rolled every 15 months into a New Trust. The example also assumes a 5%
return on your investment each year and that your Trust's, and each New
Trust's, sales charges and expenses stay the same. The example does not take
into consideration transaction fees which may be charged by certain
broker/dealers for processing redemption requests. Although your actual costs
may vary, based on these assumptions your costs, assuming you roll your
proceeds from one trust to the next for the periods shown, would be:

1 Year 3 Years 5 Years 10 Years
______ _______ _______ ________
Target Dividend Blend Portfolio, 3rd Quarter 2024 Series $236 $726 $1,002 $2,167
Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series 221 681 941 2,043

If you elect not to roll your proceeds from one trust to the next, your costs
will be limited by the number of years your proceeds are invested, as set
forth above.

_____________

(a) The combination of the initial and deferred sales charge comprises what we
refer to as the "transactional sales charge." The initial sales charge is
actually equal to the difference between the maximum sales charge of 1.85% and
the sum of any remaining deferred sales charge and creation and development
fee. When the Public Offering Price per Unit equals $10, there is no initial
sales charge. If the price you pay for your Units exceeds $10 per Unit, you
will pay an initial sales charge.

(b) The deferred sales charge is a fixed dollar amount equal to $.135 per Unit
which, as a percentage of the Public Offering Price, will vary over time. The
deferred sales charge will be deducted in three monthly installments
commencing October 18, 2024.

(c) The creation and development fee compensates the Sponsor for creating and
developing the Trusts. The creation and development fee is a charge of $.050
per Unit collected at the end of the initial offering period, which is
expected to be approximately three months from the Initial Date of Deposit. If
the price you pay for your Units exceeds $10 per Unit, the creation and
development fee will be less than 0.50%; if the price you pay for your Units
is less than $10 per Unit, the creation and development fee will exceed 0.50%.
If you purchase Units after the initial offering period, you will not be
assessed the creation and development fee.

(d) Estimated organization costs will be deducted from the assets of each
Trust at the end of the initial offering period. Estimated organization costs
are assessed on a fixed dollar amount per Unit basis which, as a percentage of
average net assets, will vary over time.

(e) Each of the fees listed herein is assessed on a fixed dollar amount per
Unit basis which, as a percentage of average net assets, will vary over time.

(f) Other operating expenses do not include brokerage costs and other
portfolio transaction fees for any of the Trusts. In certain circumstances the
Trusts may incur additional expenses not set forth above. See "Expenses and
Charges."

Page 4

Report of Independent
Registered Public Accounting Firm

To the Unit Holders and the Sponsor, First Trust Portfolios L.P., of FT 11569

Opinion on the Statements of Net Assets

We have audited the accompanying statements of net assets of FT 11569,
comprising Target Dvd. Blend 3Q '24 - Term 10/9/25 (Target Dividend Blend
Portfolio, 3rd Quarter 2024 Series) and Target High Quality Dvd. 3Q '24 - Term
10/9/25 (Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series)
(collectively the "Trusts"), one of the series constituting the FT Series,
including the schedules of investments, as of the opening of business on July
9, 2024 (Initial Date of Deposit), and the related notes. In our opinion, the
statements of net assets present fairly, in all material respects, the
financial position of each of the Trusts constituting FT 11569 as of the
opening of business on July 9, 2024 (Initial Date of Deposit), in conformity
with accounting principles generally accepted in the United States of America.

Basis for Opinion

These statements of net assets are the responsibility of the Trusts' Sponsor.
Our responsibility is to express an opinion on the Trusts' statements of net
assets based on our audits. We are a public accounting firm registered with
the Public Company Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Trusts in accordance with the
U.S. federal securities laws and the applicable rules and regulations of the
Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those
standards require that we plan and perform the audit to obtain reasonable
assurance about whether the statements of net assets are free of material
misstatement, whether due to error or fraud. The Trusts are not required to
have, nor were we engaged to perform, an audit of their internal control over
financial reporting. As part of our audits we are required to obtain an
understanding of internal control over financial reporting but not for the
purpose of expressing an opinion on the effectiveness of the Trusts' internal
control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material
misstatement of the statements of net assets, whether due to error or fraud,
and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and
disclosures in the statements of net assets. Our audits also included
evaluating the accounting principles used and significant estimates made by
the Trusts' Sponsor, as well as evaluating the overall presentation of the
statements of net assets. Our procedures included confirmation of the
irrevocable letter of credit held by The Bank of New York Mellon, the Trustee,
and allocated among the Trusts for the purchase of securities, as shown in the
statements of net assets, as of the opening of business on July 9, 2024, by
correspondence with the Trustee. We believe that our audits provide a
reasonable basis for our opinion.

/s/ DELOITTE & TOUCHE LLP

Chicago, Illinois
July 9, 2024

We have served as the auditor of one or more investment companies sponsored by
First Trust Portfolios L.P. since 2001.

Page 5

Statements of Net Assets

FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Target Dividend Target High Quality
Blend Portfolio, Dividend Portfolio,
3rd Quarter 2024 3rd Quarter 2024
Series Series
___________________ __________________

NET ASSETS

Investment in Securities represented by purchase contracts (1) (2) $168,527 $138,505
Less liability for reimbursement to Sponsor for organization costs (3) (539) (235)
Less liability for deferred sales charge (4) (2,275) (1,870)
Less liability for creation and development fee (5) (843) (693)
________ ________
Net assets $164,870 $135,707
======== ========
Units outstanding 16,853 13,851
Net asset value per Unit (6) $ 9.783 $ 9.798

ANALYSIS OF NET ASSETS

Cost to investors (7) $168,527 $138,505
Less maximum sales charge (7) (3,118) (2,563)
Less estimated reimbursement to Sponsor for organization costs (3) (539) (235)
________ ________
Net assets $164,870 $135,707
======== ========
______________

NOTES TO STATEMENTS OF NET ASSETS

Each Trust is registered as a unit investment trust under the Investment
Company Act of 1940. The Sponsor is responsible for the preparation of
financial statements in accordance with accounting principles generally
accepted in the United States which require the Sponsor to make estimates and
assumptions that affect amounts reported herein. Actual results could differ
from those estimates. Each Trust intends to comply in its initial fiscal year
and thereafter with provisions of the Internal Revenue Code applicable to
regulated investment companies and as such, will not be subject to federal
income taxes on otherwise taxable income (including net realized capital
gains) distributed to Unit holders.

(1) Each Trust invests in a diversified portfolio of common stocks. Aggregate
cost of the Securities listed under "Schedule of Investments" for each Trust
is based on their aggregate underlying value. Each Trust has a Mandatory
Termination Date of October 9, 2025.

(2) An irrevocable letter of credit for approximately $600,000, issued by The
Bank of New York Mellon (approximately $300,000 has been allocated to Target
High Quality Dividend Portfolio, 3rd Quarter 2024 Series; and approximately
$300,000 has been allocated to Target Dividend Blend Portfolio, 3rd Quarter
2024 Series), has been deposited with the Trustee as collateral, covering the
monies necessary for the purchase of the Securities according to their
purchase contracts.

(3) A portion of the Public Offering Price consists of an amount sufficient to
reimburse the Sponsor for all or a portion of the costs of establishing the
Trusts. The estimated organization costs range from $.0170 to $.0320 per Unit
for the Trusts. A payment will be made at the end of the initial offering
period to an account maintained by the Trustee from which the obligation of
the investors to the Sponsor will be satisfied. To the extent that actual
organization costs of a Trust are greater than the estimated amount, only the
estimated organization costs added to the Public Offering Price will be
reimbursed to the Sponsor and deducted from the assets of such Trust.

(4) Represents the amount of mandatory deferred sales charge distributions of
$.135 per Unit, payable to the Sponsor in three equal monthly installments
beginning on October 18, 2024 and on the twentieth day of each month
thereafter (or if such date is not a business day, on the preceding business
day) through December 20, 2024. If Unit holders redeem Units before December
20, 2024, they will have to pay the remaining amount of the deferred sales
charge applicable to such Units when they redeem them.

(5) The creation and development fee ($.050 per Unit for each Trust) is
payable by a Trust on behalf of Unit holders out of assets of a Trust at the
end of a Trust's initial offering period. If Units are redeemed prior to the
close of the initial offering period, the fee will not be deducted from the
proceeds.

(6) Net asset value per Unit is calculated by dividing a Trust's net assets by
the number of Units outstanding. This figure includes organization costs and
the creation and development fee, which will only be assessed to Units
outstanding at the close of the initial offering period.

(7) The aggregate cost to investors in a Trust includes a maximum sales charge
(comprised of an initial sales charge, a deferred sales charge and the
creation and development fee) computed at the rate of 1.85% of the Public
Offering Price (equivalent to 1.85% of the net amount invested, exclusive of
the deferred sales charge and the creation and development fee), assuming no
reduction of the maximum sales charge as set forth under "Public Offering."

Page 6

Schedule of Investments

Target Dividend Blend Portfolio, 3rd Quarter 2024 Series
FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Percentage Number Market Cost of
Ticker Symbol and of Aggregate of Value Securities to
Name of Issuer of Securities (1)(3) Offering Price Shares per Share the Trust (2)
___________________________________ ______________ ______ _________ _____________
COMMON STOCKS (100.00%):
Communication Services (8.35%):
T AT&T Inc. 1.00% 90 $ 18.81 $ 1,693
CCOI Cogent Communications Holdings, Inc. 1.02% 30 57.14 1,714
CMCSA Comcast Corporation (Class A) 1.66% 75 37.33 2,800
IPG The Interpublic Group of Companies, Inc. 1.67% 99 28.38 2,810
KT KT Corporation (ADR) + 1.00% 128 13.19 1,688
SKM SK Telecom Co., Ltd. (ADR) + 1.00% 81 20.71 1,678
TKC Turkcell Iletisim Hizmetleri A.S. (ADR) + 1.00% 208 8.11 1,687
Consumer Discretionary (9.37%):
DDS Dillard's, Inc. (Class A) 1.03% 4 432.36 1,729
GES GUESS?, Inc. + 1.00% 80 21.04 1,683
HMC Honda Motor Co., Ltd. (ADR) + 1.00% 53 31.82 1,686
M Macy's, Inc. 1.66% 148 18.93 2,802
JWN Nordstrom, Inc. 1.00% 79 21.27 1,680
STLA Stellantis N.V. + 1.01% 87 19.48 1,695
TPR Tapestry, Inc. 1.67% 67 41.91 2,808
TNL Travel + Leisure Co. 1.00% 39 43.32 1,689
Consumer Staples (11.37%):
AGRO Adecoagro S.A. + 1.00% 172 9.78 1,682
MO Altria Group, Inc. 1.01% 37 46.02 1,703
ADM Archer-Daniels-Midland Company 1.65% 44 63.38 2,789
CALM Cal-Maine Foods, Inc. 1.01% 27 62.87 1,697
GIS General Mills, Inc. 1.67% 45 62.50 2,812
TAP Molson Coors Beverage Company 1.67% 56 50.16 2,809
TGT Target Corporation 1.68% 19 148.72 2,826
TSN Tyson Foods, Inc. (Class A) 1.68% 50 56.69 2,834
Energy (17.93%):
BWLP BW LPG Limited + 1.00% 94 17.85 1,678
CNQ Canadian Natural Resources Limited + 1.67% 78 35.99 2,807
CVX Chevron Corporation 1.65% 18 154.33 2,778
FANG Diamondback Energy, Inc. 0.97% 8 203.35 1,627
XOM Exxon Mobil Corporation 1.66% 25 112.18 2,804
HAFN Hafnia Limited + 1.00% 214 7.89 1,688
KNTK Kinetik Holdings Inc. 1.00% 40 42.21 1,688
NOG Northern Oil and Gas, Inc. 0.99% 43 38.82 1,669
PSX Phillips 66 1.69% 21 135.95 2,855
SU Suncor Energy Inc. + 1.67% 74 37.95 2,808
TNK Teekay Tankers Ltd. (Class A) + 1.00% 26 64.99 1,690
TRMD TORM Plc (Class A) + 0.99% 44 37.96 1,670
VLO Valero Energy Corporation 0.97% 11 147.96 1,628
VRN Veren Inc. + 1.67% 355 7.92 2,812
Financials (21.98%):
ABR Arbor Realty Trust, Inc. (4) 0.50% 57 14.89 849
CINF Cincinnati Financial Corporation 0.97% 14 116.68 1,634
ACT Enact Holdings, Inc. 1.00% 56 30.19 1,691
FNF Fidelity National Financial, Inc. 1.66% 58 48.29 2,801
FITB Fifth Third Bancorp 1.68% 78 36.23 2,826

Page 7

Schedule of Investments (cont'd.)

Target Dividend Blend Portfolio, 3rd Quarter 2024 Series
FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Percentage Number Market Cost of
Ticker Symbol and of Aggregate of Value Securities to
Name of Issuer of Securities (1)(3) Offering Price Shares per Share the Trust (2)
___________________________________ ______________ ______ _________ _____________
Financials (cont'd.):
FINV FinVolution Group (ADR) (5) + 1.00% 352 $ 4.79 $ 1,686
FAF First American Financial Corporation 1.66% 53 52.67 2,792
BEN Franklin Resources, Inc. 1.67% 127 22.14 2,812
JXN Jackson Financial Inc. (Class A) 1.00% 23 73.25 1,685
KEY KeyCorp 1.66% 200 14.03 2,806
PNC The PNC Financial Services Group, Inc. 1.70% 18 158.77 2,858
QFIN Qifu Technolgy Inc. (Class A) (ADR) (5) + 1.00% 87 19.30 1,679
RDN Radian Group Inc. 0.99% 54 31.05 1,677
RF Regions Financial Corporation 1.67% 142 19.79 2,810
RITM Rithm Capital Corp. (4) 0.50% 80 10.59 847
SLF Sun Life Financial Inc. + 1.66% 57 49.16 2,802
USB U.S. Bancorp 1.66% 71 39.46 2,802
Health Care (2.65%):
CVS CVS Health Corporation 1.65% 49 56.89 2,788
OGN Organon & Co. 1.00% 84 20.14 1,692
Industrials (4.68%):
CMRE Costamare Inc. + 1.01% 110 15.40 1,694
DAC Danaos Corporation + 0.99% 19 87.63 1,665
GOGL Golden Ocean Group Limited + 1.00% 127 13.25 1,683
RHI Robert Half Inc. 1.68% 44 64.29 2,829
Information Technology (3.69%):
HPQ HP Inc. 2.69% 128 35.32 4,521
UMC United Microelectronics Corporation (ADR) + 1.00% 195 8.66 1,689
Materials (6.95%):
ARCH Arch Resources Inc. 0.97% 10 164.28 1,643
EMN Eastman Chemical Company 1.65% 29 95.75 2,777
MOS The Mosaic Company 1.67% 104 27.06 2,814
NTR Nutrien Ltd. + 1.66% 57 49.08 2,798
RIO Rio Tinto Plc (ADR) + 1.00% 25 67.17 1,679
Real Estate (9.04%):
ALX Alexander's, Inc. (4) 0.53% 4 224.74 899
AVB AvalonBay Communities, Inc. (4) 0.48% 4 203.12 812
BNL Broadstone Net Lease, Inc. (4) 0.50% 53 15.98 847
CPT Camden Property Trust (4) 0.51% 8 108.03 864
EQR Equity Residential (4) 0.48% 12 67.99 816
ESS Essex Property Trust, Inc. (4) 0.49% 3 273.10 819
HIW Highwoods Properties, Inc. (4) 0.50% 32 26.32 842
HST Host Hotels & Resorts, Inc. (4) 0.50% 48 17.69 849
IIPR Innovative Industrial Properties, Inc. (4) 0.52% 8 109.18 873
LAMR Lamar Advertising Company (4) 0.49% 7 118.82 832
LTC LTC Properties, Inc. (4) 0.51% 25 34.31 858
NHI National Health Investors, Inc. (4) 0.49% 12 68.88 827
NSA National Storage Affiliates Trust (4) 0.51% 21 40.78 856
SPG Simon Property Group, Inc. (4) 0.52% 6 146.87 881
SITC SITE Centers Corp. (4) 0.50% 58 14.44 838
SHO Sunstone Hotel Investors, Inc. (4) 0.50% 83 10.16 843
UDR UDR, Inc. (4) 0.51% 21 40.82 857
UE Urban Edge Properties (4) 0.50% 47 18.09 850

Page 8

Schedule of Investments (cont'd.)

Target Dividend Blend Portfolio, 3rd Quarter 2024 Series
FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Page 9

Schedule of Investments

Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series
FT 11569

At the Opening of Business on the Initial Date of Deposit-July 9, 2024

Percentage Number Market Cost of
Ticker Symbol and of Aggregate of Value Securities to
Name of Issuer of Securities (1)(3) Offering Price Shares per Share the Trust (2)
___________________________________ ______________ ______ _________ _____________
COMMON STOCKS (100.00%):
Communication Services (6.68%):
CMCSA Comcast Corporation (Class A) 3.34% 124 $ 37.33 $ 4,629
IPG The Interpublic Group of Companies, Inc. 3.34% 163 28.38 4,626
Consumer Discretionary (6.67%):
M Macy's, Inc. 3.34% 244 18.93 4,619
TPR Tapestry, Inc. 3.33% 110 41.91 4,610
Consumer Staples (16.66%):
ADM Archer-Daniels-Midland Company 3.34% 73 63.38 4,627
GIS General Mills, Inc. 3.34% 74 62.50 4,625
TAP Molson Coors Beverage Company 3.33% 92 50.16 4,615
TGT Target Corporation 3.33% 31 148.72 4,610
TSN Tyson Foods, Inc. (Class A) 3.32% 81 56.69 4,592
Energy (20.00%):
CNQ Canadian Natural Resources Limited + 3.33% 128 35.99 4,607
CVX Chevron Corporation 3.34% 30 154.33 4,630
XOM Exxon Mobil Corporation 3.32% 41 112.18 4,599
PSX Phillips 66 3.34% 34 135.95 4,622
SU Suncor Energy Inc. + 3.34% 122 37.95 4,630
VRN Veren Inc. + 3.33% 583 7.92 4,617
Financials (29.99%):
FNF Fidelity National Financial, Inc. 3.35% 96 48.29 4,636
FITB Fifth Third Bancorp 3.32% 127 36.23 4,601
FAF First American Financial Corporation 3.35% 88 52.67 4,635
BEN Franklin Resources, Inc. 3.32% 208 22.14 4,605
KEY KeyCorp 3.33% 329 14.03 4,616
PNC The PNC Financial Services Group, Inc. 3.32% 29 158.77 4,604
RF Regions Financial Corporation 3.33% 233 19.79 4,611
SLF Sun Life Financial Inc. + 3.34% 94 49.16 4,621
USB U.S. Bancorp 3.33% 117 39.46 4,617
Health Care (3.33%):
CVS CVS Health Corporation 3.33% 81 56.89 4,608
Industrials (3.34%):
RHI Robert Half Inc. 3.34% 72 64.29 4,629
Information Technology (3.34%):
HPQ HP Inc. 3.34% 131 35.32 4,627
Materials (9.99%):
EMN Eastman Chemical Company 3.32% 48 95.75 4,596
MOS The Mosaic Company 3.34% 171 27.06 4,627
NTR Nutrien Ltd. + 3.33% 94 49.08 4,614
_______ ________
Total Investments 100.00% $138,505
======= ========
_____________
See "Notes to Schedule of Investments" on page 11.

Page 10

NOTES TO SCHEDULES OF INVESTMENTS

(1) All Securities are represented by regular way contracts to purchase such
Securities which are backed by an irrevocable letter of credit deposited with
the Trustee. The Sponsor entered into purchase contracts for the Securities on
July 9, 2024. Such purchase contracts are expected to settle within one
business day.

(2) The cost of the Securities to a Trust represents the aggregate underlying
value with respect to the Securities acquired (generally determined by the
closing sale prices of the listed Securities and the ask prices of
over-the-counter traded Securities at the Evaluation Time on the business day
prior to the Initial Date of Deposit). The cost of Securities to a Trust may not
compute due to rounding the market value per share. The valuation of the
Securities has been determined by the Sponsor. In accordance with Financial
Accounting Standards Board Accounting Standards Codification 820, "Fair Value
Measurement," each Trust's investments are classified as Level 1, which refers
to securities traded in an active market. The cost of the Securities to the
Sponsor and the Sponsor's profit (which is the difference between the cost of
the Securities to the Sponsor and the cost of the Securities to the Trust) are
set forth below:

Cost of Securities Profit
to Sponsor (Loss)
__________________ ______
Target Dividend Blend Portfolio, 3rd Quarter 2024 Series $168,107 $420
Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series 137,946 559

(3) Common stocks of companies headquartered or incorporated outside the
United States comprise the approximate percentage of the investments of the
Trusts as indicated:

Target Dividend Blend Portfolio, 3rd Quarter 2024 Series, 28.33%
(consisting of Argentina, 1.00%; Brazil, 1.00%; Canada, 10.33%;
China, 2.00%; Greece, 0.99%; Japan, 1.00%; Monaco, 1.01%;
The Netherlands, 1.01%; Norway, 1.00%; Singapore, 2.00%; South
Korea, 2.00%; Switzerland, 1.00%; Taiwan, 1.00%; Turkey, 1.00% and
United Kingdom, 1.99%).

Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series, 16.67%
(consisting of Canada, 16.67%).

(4) This Security represents the common stock of a real estate investment
trust ("REIT"). REITs which invest in mortgage loans and mortgage-backed
securities are included in the Financials sector whereas REITs which directly
hold real estate properties are included in the Real Estate sector. REITs
comprise approximately 10.04% of the investments of the Target Dividend Blend
Portfolio, 3rd Quarter 2024 Series.

(5) This Security represents the common stock of a variable interest entity
("VIE"). VIEs comprise approximately 2.00% of the investments of the Target
Dividend Blend Portfolio, 3rd Quarter 2024 Series.

+ This Security represents the common stock of a foreign company which trades
directly or through an American Depositary Receipt/ADR on the over-the-counter
market or on a U.S. national securities exchange.

Page 11

The FT Series

The FT Series Defined.

We, First Trust Portfolios L.P. (the "Sponsor"), have created hundreds of
similar yet separate series of a unit investment trust which we have named the
FT Series. The series to which this prospectus relates, FT 11569, consists of
two separate portfolios set forth below:

- Target Dvd. Blend 3Q '24 - Term 10/9/25
(Target Dividend Blend Portfolio, 3rd Quarter 2024 Series)

- Target High Quality Dvd. 3Q '24 - Term 10/9/25
(Target High Quality Dividend Portfolio, 3rd Quarter 2024 Series)

Each Trust was created under the laws of the State of New York by a Trust
Agreement (the "Indenture") dated the Initial Date of Deposit. This agreement,
entered into among First Trust Portfolios L.P., as Sponsor, The Bank of New
York Mellon as Trustee and First Trust Advisors L.P. as Portfolio Supervisor,
governs the operation of the Trusts.

YOU MAY GET MORE SPECIFIC DETAILS CONCERNING THE NATURE, STRUCTURE AND RISKS OF
THIS PRODUCT IN AN "INFORMATION SUPPLEMENT" BY CALLING THE SPONSOR AT
800-621-1675, DEPT. CODE 2.

How We Created the Trusts.

On the Initial Date of Deposit, we deposited portfolios of common stocks with
the Trustee and, in turn, the Trustee delivered documents to us representing
our ownership of the Trusts in the form of units ("Units").

After the Initial Date of Deposit, we may deposit additional Securities in a
Trust, or cash (including a letter of credit or the equivalent) with
instructions to buy more Securities, to create new Units for sale. If we
create additional Units, we will attempt, to the extent practicable, to
maintain the percentage relationship established among the Securities on the
Initial Date of Deposit (as set forth in "Schedule of Investments" for each
Trust), adjusted to reflect the sale, redemption or liquidation of any of the
Securities or any stock split or a merger or other similar event affecting the
issuer of the Securities.

Since the prices of the Securities will fluctuate daily, the ratio of
Securities in the Trusts, on a market value basis, will also change daily. The
portion of Securities represented by each Unit will not change as a result of
the deposit of additional Securities or cash in a Trust. If we deposit cash,
you and new investors may experience a dilution of your investment. This is
because prices of Securities will fluctuate between the time of the cash
deposit and the purchase of the Securities, and because the Trusts pay the
associated brokerage fees. To reduce this dilution, the Trusts will try to buy
the Securities as close to the Evaluation Time and as close to the evaluation
price as possible. In addition, because the Trusts pay the brokerage fees
associated with the creation of new Units and with the sale of Securities to
meet redemption and exchange requests, frequent redemption and exchange
activity will likely result in higher brokerage expenses.

An affiliate of the Trustee may receive these brokerage fees or the Trustee
may retain and pay us (or our affiliate) to act as agent for a Trust to buy
Securities. If we or an affiliate of ours act as agent to a Trust, we will be
subject to the restrictions under the Investment Company Act of 1940, as
amended (the "1940 Act"). When acting in an agency capacity, we may select
various broker/dealers to execute securities transactions on behalf of the
Trusts, which may include broker/dealers who sell Units of the Trusts. We do
not consider sales of Units of the Trusts or any other products sponsored by
First Trust as a factor in selecting such broker/dealers.

We cannot guarantee that a Trust will keep its present size and composition
for any length of time. Securities may be periodically sold under certain
circumstances to satisfy Trust obligations, to meet redemption requests and,
as described in "Removing Securities from a Trust," to maintain the sound
investment character of a Trust, and the proceeds received by a Trust will be
used to meet Trust obligations or distributed to Unit holders. However,
Securities will not be sold to take advantage of market fluctuations or
changes in anticipated rates of appreciation or depreciation, or if they no
longer meet the criteria by which they were selected. You will not be able to
dispose of or vote any of the Securities in the Trusts. As the holder of the
Securities, the Trustee will vote the Securities and, except as described in
"Removing Securities from a Trust," will endeavor to vote the Securities such
that the Securities are voted as closely as possible in the same manner and
the same general proportion as are the Securities held by owners other than
such Trust.

Neither we nor the Trustee will be liable for a failure in any of the
Securities. However, if a contract for the purchase of any of the Securities
initially deposited in a Trust fails, unless we can purchase substitute
Securities ("Replacement Securities") we will refund to you that portion of
the purchase price and transactional sales charge resulting from the failed
contract on the next Income Account Distribution Date. Any Replacement
Security a Trust acquires will be identical to those from the failed contract.

Portfolios

Objective.

Each Trust seeks above-average total return. To achieve this objective, each
Trust will invest in the common stocks of companies which are selected by
applying a unique specialized strategy. While the Trusts seek above-average
total return, each follows a different investment strategy. We cannot
guarantee that a Trust will achieve its objective or that a Trust will make
money once expenses are deducted. Under normal circumstances, each Trust will
invest at least 80% of their assets in dividend-paying securities. The Target

Page 12

High Quality Dividend Portfolio is concentrated (i.e., invests 25% or more of
Trust assets) in stocks of companies within the financials sector.

Portfolio Selection Process.

Target Dividend Blend Portfolio

The Target Dividend Blend Portfolio is a unit investment trust which seeks to
provide broad equity diversification and dividend income by investing in
common stocks across various market capitalizations, growth and value styles,
sectors and countries. The Trust invests in a fixed portfolio of stocks which
are selected by applying pre-determined screens and factors and holds the
stocks for approximately 15 months. The Trust is comprised of the two
strategies described below.

The composition of the Trust on the Initial Date of Deposit is as follows:

- Approximately 50% of the portfolio is composed of common stocks which comprise
the Target High Quality Dividend Strategy; and

- Approximately 50% of the portfolio is composed of common stocks which comprise
the Target Global Dividend Leaders Strategy.

Target High Quality Dividend Strategy

- Begin with the 1,000 stocks with the largest market capitalization as of two
business days prior to the Initial Date of Deposit which trade on a U.S.
exchange, excluding REITs, American Depositary Receipts/ ADRs, regulated
investment companies and limited partnerships.

- Select only those stocks that meet the following criteria:

- Minimum three month average daily trading volume of $2.5 million.

- Three consecutive years of dividend increases.

- Screen for quality on the following factors:

- Net debt to assets of less than 50%.

- Three-year payout ratio of less than 50% of earnings.

- Positive free cash flow after dividends for the trailing 12 months.

- Purchase an approximately equally-weighted portfolio of the 30 stocks with the
highest dividend yield, subject to a maximum of nine stocks from any one of the
major Global Industry Classification Standard ("GICS(R)") market sectors. The
Financials and Real Estate sectors are combined for the sector limit purpose.

Target Global Dividend Leaders Strategy

- Establish three distinct universes as of two business days prior to the
Initial Date of Deposit which consist of the following:

- Domestic equity - all U.S. stocks.

- International equity - all foreign stocks that are listed on a U.S.
securities exchange either directly or in the form of American Depositary
Receipts/ADRs.

- REITs - all U.S. REITs (including Mortgage REITs).

- Regulated investment companies and limited partnerships are excluded from all
universes. REITs (including Mortgage REITs) are also excluded from the domestic
and international equity universes.

- Select the stocks in each universe that meet the following criteria:

- Market capitalization greater than $1 billion.

- Three-month average daily trading volume greater than $1 million.

- Current indicated dividend yield greater than twice that of the S&P
500(R) Index at the time of selection.

- Rank the selected stocks within each universe on three equally-weighted
factors:

- Price to cash flow.

- Return on assets.

- 3, 6 and 12-month price appreciation (which are equally-weighted within
this factor).

- Select the 20 stocks within each universe with the best overall combined
rankings. The domestic and international equity universes are subject to a
maximum of four stocks from any one of the major GICS(R) market sectors. The
Financials and Real Estate sectors are combined for the sector limit purpose. If
a universe has less than 20 eligible securities, all eligible securities are
selected.

- The universes are approximately weighted as follows:

Domestic Equity 40%
International Equity 40%
REITs 20%

Stocks are approximately equally-weighted within their universe, taking into
consideration that only whole shares will be purchased. In the event of a tie,
the stock with the better price to cash flow ratio is selected.

Target High Quality Dividend Portfolio

The Target High Quality Dividend Portfolio is comprised of the securities
selected from the Target High Quality Dividend Strategy described above.

Other Considerations.

Please note that we applied the strategies which make up a portion of the
portfolio for each Trust at a particular time. If we create additional Units
of a Trust after the Initial Date of Deposit we will deposit the Securities
originally selected by applying each strategy on the Initial Date of Deposit.
This is true even if a later application of a strategy would have resulted in
the selection of different securities. In addition, companies which, based on
publicly available information as of the date the Securities were selected,
are the subject of an announced business combination which we expect will
happen within 12 months of the date of this prospectus are not eligible for
inclusion in a Trust's portfolio.

The Securities for each of the strategies were selected as of a strategy's
selection date using closing market prices on such date or, if a particular
market was not open for trading on such date, closing market prices on the day

Page 13

immediately prior to the strategy's selection date in which such market was
open. In addition, companies which, based on publicly available information on
or before their respective selection date, are subject to any of the limited
circumstances which warrant removal of a Security from a Trust as described
under "Removing Securities from a Trust" are not eligible for inclusion in a
Trust's portfolio.

While not a part of the Trusts' portfolio selection processes, certain of the
Trusts also invest in VIEs.

As with any similar investments, there can be no assurance that the objective
of a Trust will be achieved. See "Risk Factors" for a discussion of the risks
of investing in a Trust.

The publishers of the Russell 3000(R) Index and the S&P 500(R) Index are not
affiliated with us and have not participated in creating the Trusts or
selecting the Securities for the Trusts. Except as noted herein, the index
publishers have not approved of any of the information in this prospectus.

Risk Factors

Price Volatility. The Trusts invest in common stocks. The value of a Trust's
Units will fluctuate with changes in the value of these common stocks. Common
stock prices fluctuate for several reasons including changes in investors'
perceptions of the financial condition of an issuer or the general condition
of the relevant stock market, such as market volatility, or when political or
economic events affecting the issuers occur. In addition, common stock prices
may be particularly sensitive to rising interest rates, as the cost of capital
rises and borrowing costs increase, negatively impacting issuers.

Because the Trusts are not managed, the Trustee will not sell stocks in
response to or in anticipation of market fluctuations, as is common in managed
investments. As with any investment, we cannot guarantee that the performance
of any Trust will be positive over any period of time, especially the
relatively short 15-month life of the Trusts, or that you won't lose money.
Units of the Trusts are not deposits of any bank and are not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other
government agency.

Market Risk. Market risk is the risk that a particular security, or Units of
the Trusts in general, may fall in value or underperform other investments.
Securities are subject to market fluctuations caused by such factors as
economic, political, regulatory or market developments, changes in interest
rates and perceived trends in securities prices. As a means to fight
inflation, which remains at elevated levels, the Federal Reserve has raised
interest rates and may continue to do so and is reversing previously
implemented quantitative easing. Recent and potential future bank failures
could result in disruption to the broader banking industry or markets
generally and reduce confidence in financial institutions and the economy as a
whole, which may also heighten market volatility and reduce liquidity. In
addition, local, regional or global events such as war, acts of terrorism,
spread of infectious diseases or other public health issues, recessions,
political turbulence or other events could have a significant negative impact
on the Trusts and their investments. For example, the COVID-19 global pandemic
and the ensuing policies enacted by governments and central banks have caused
and may continue to cause significant volatility and uncertainty in global
financial markets, negatively impacting global growth prospects. While
vaccines have been developed, there is no guarantee that vaccines will be
effective against future variants of the disease. The impact of the COVID-19
pandemic, or any future public health crisis, may be short term or may last
for an extended period of time, and in either case could result in a
substantial economic downturn or recession. Ongoing armed conflicts between
Russia and Ukraine in Europe and among Israel, Hamas and other militant groups
in the Middle East have caused and could continue to cause significant market
disruptions and volatility within the markets in Russia, Europe, the Middle
East and the United States. The hostilities and sanctions resulting from those
hostilities could have a significant impact on certain of a Trust's
investments as well as a Trust's performance. Such events may affect certain
geographic regions, countries, sectors and industries more significantly than
others. Such events could adversely affect the prices and liquidity of a
Trust's portfolio securities and could result in disruptions in the trading
markets. Any such circumstances could have a materially negative impact on the
value of a Trust's Units and result in increased market volatility.

Dividends. All of the Securities held by the Trusts currently pay dividends,
but there is no guarantee that the issuers of the Securities will declare
dividends in the future or that, if declared, they will either remain at
current levels or increase over time.

Concentration Risk. When 25% or more of a trust's portfolio is invested in
securities issued by companies within a single sector, the trust is considered
to be concentrated in that particular sector. A portfolio concentrated in one
or more sectors may present more risks than a portfolio broadly diversified
over several sectors.

The Target High Quality Dividend Portfolio is concentrated in stocks of
companies within the financials sector.

Financials. Financial companies, such as retail and commercial banks,
insurance companies and financial services companies, are subject to extensive
governmental regulation and intervention, which may adversely affect the scope
of their activities, the prices they can charge, the amount and types of
capital they must maintain and, potentially, their size. Governmental
regulation may change frequently and may have significant adverse consequences
for financial companies, including effects not intended by such regulation.
The impact of more stringent capital requirements, or recent or future

Page 14

regulation in various countries, on any individual financial company or on
financial companies as a whole cannot be predicted. Certain risks may impact
the value of investments in financial companies more severely than those of
investments in other issuers, including the risks associated with companies
that operate with substantial financial leverage. Financial companies may also
be adversely affected by volatility in interest rates, decreases in the
availability of money or asset valuations, credit rating downgrades and
adverse conditions in other related markets. Insurance companies in particular
may be subject to severe price competition and/or rate regulation, which may
have an adverse impact on their profitability. Financial companies are also a
target for cyber-attacks and may experience technology malfunctions and
disruptions as a result.

In addition, general economic conditions are important to the operations of
financial companies. Deteriorating economic fundamentals may increase the risk
of default or insolvency of particular financial institutions, negatively
impact market value, cause credit spreads to widen, and reduce bank balance
sheets. Credit losses resulting from financial difficulties of borrowers and
financial losses associated with investment activities may have an adverse
effect on the profitability of financial companies. While financial companies
such as banks tend to increase reserves in anticipation of economic stress,
there can be no assurance that such reserves will be sufficient to cover
rising default rates. Financial companies may be highly dependent upon access
to capital markets, and any impediments to such access, such as adverse
overall economic conditions or a negative perception in the capital markets of
a company's financial condition or prospects, could adversely affect its
business. For example, any failure of a bank can result in disruption to the
broader banking industry or markets generally, which may also heighten market
volatility and reduce liquidity. Some financial companies may also be required
to accept or borrow significant amounts of capital from government sources.
There is no guarantee that governments will provide any such relief in the
future and no certainty that such relief will mitigate the effects of any
failure of a financial institution on the economy or otherwise strengthen
public confidence in financial institutions. These actions may cause the
securities of many companies in the financials sector to decline in value.

Strategy. Please note that we applied the strategy or strategies which make up
the portfolio for each Trust at a particular time. If we create additional
Units of a Trust after the Initial Date of Deposit, we will deposit the
Securities originally selected by applying the strategy on the Initial Date of
Deposit. This is true even if a later application of a strategy would have
resulted in the selection of different securities. There is no guarantee the
investment objective of a Trust will be achieved. The actual performance of
the Trusts will be different than the hypothetical returns of each Trust's
strategy. No representation is made that the Trusts will or are likely to
achieve the hypothetical performance shown. Because the Trusts are unmanaged
and follow a strategy, the Trustee will not buy or sell Securities in the
event a strategy is not achieving the desired results.

REITs. Certain of the Securities held by certain of the Trusts are issued by
REITs. REITs are financial vehicles that pool investors' capital to purchase
or finance real estate. REITs may concentrate their investments in specific
geographic areas or in specific property types, i.e., hotels, shopping malls,
residential complexes, office buildings and timberlands. The value of REITs
and the ability of REITs to distribute income may be adversely affected by
several factors, including rising interest rates, changes in the national,
state and local economic climate and real estate conditions, perceptions of
prospective tenants of the safety, convenience and attractiveness of the
properties, the ability of the owner to provide adequate management,
maintenance and insurance, the cost of complying with the Americans with
Disabilities Act, increased competition from new properties, the impact of
present or future environmental legislation and compliance with environmental
laws, changes in real estate taxes and other operating expenses, adverse
changes in governmental rules and fiscal policies, adverse changes in zoning
laws, and other factors beyond the control of the issuers of REITs. Certain of
the REITs may also be mortgage real estate investment trusts ("Mortgage
REITs"). Mortgage REITs are companies that provide financing for real estate
by purchasing or originating mortgages and mortgage-backed securities and earn
income from the interest on these investments. Mortgage REITs are also subject
to many of the same risks associated with investments in other REITs and to
real estate market conditions.

Foreign Securities. Certain of the Securities held by certain of the Trusts are
issued by foreign entities, which makes the Trusts subject to more risks than if
the Trusts invested solely in domestic securities. Risks of foreign securities
include higher brokerage costs; different accounting standards; expropriation,
nationalization or other adverse political or economic developments; currency
devaluations, blockages or transfer restrictions; restrictions on foreign
investments and exchange of securities; inadequate financial information; lack
of liquidity of certain foreign markets; and less government supervision and
regulation of exchanges, brokers, and issuers in foreign countries. Certain
foreign markets have experienced heightened volatility due to recent negative
political or economic developments or natural disasters. Securities issued by
non-U.S. issuers may pay dividends in foreign currencies and may be principally
traded in foreign currencies. Therefore, there is a risk that the U.S. dollar
value of these dividend payments and/or securities will vary with fluctuations
in foreign exchange rates.Risks associated with investing in foreign securities
may be more pronounced in emerging or developing markets where the securities
markets are substantially smaller, less developed, less liquid, less regulated,

Page 15

and more volatile than the securities markets of the United States and developed
foreign markets. In addition, less information about emerging and developing
market companies is publicly available due to differences in regulatory,
accounting, audit and financial recordkeeping standards and information that is
available may be unreliable or outdated. Moreover, the rights and remedies
associated with emerging or developing market investment securities may be
different than those available for investments in more developed markets.

Depositary Receipts Risk. Certain of the Trusts invest in depositary receipts
(which may include American Depositary Receipts/ADRs, Global Depositary
Receipts/GDRs, New York Registry Shares, and/or similarly structured
securities). Depositary receipts are securities issued by a bank or trust
company reflecting ownership of underlying securities issued by a foreign
company. Depositary receipts may be less liquid than the underlying shares in
their primary trading market. Any distributions paid to the holders of
depositary receipts are usually subject to a fee charged by the depositary.
Holders of depositary receipts may have limited voting rights, and investment
restrictions in certain countries may adversely impact the value of depositary
receipts because such restrictions may limit the ability to convert shares into
depositary receipts and vice versa. Such restrictions may cause shares of the
underlying issuer to trade at a discount or premium to the market price of the
depositary receipts. Moreover, depositary receipts may be "sponsored" or
"unsponsored." Sponsored depositary receipts are established jointly by a
depositary and the underlying issuer, whereas unsponsored depositary receipts
may be established by a depositary without participation by the underlying
issuer. Holders of unsponsored depositary receipts generally bear all the costs
associated with establishing the unsponsored depositary receipts. In addition,
the issuers of the securities underlying unsponsored depositary receipts are not
obligated to disclose material information in the U.S. and, therefore, there may
be less information available regarding such issuers and there may not be a
correlation between such information and the market value of the depositary
receipts.

VIEs. Certain of the Trusts invest in non-Chinese shell companies that have
created structures known as VIEs in order to gain exposure to certain Chinese
companies that are unavailable to direct investment by foreign investors. In
China, direct ownership of companies in certain sectors by foreign individuals
and entities is prohibited. In order to allow for foreign investment in these
businesses, many Chinese companies have created VIE structures to enable
indirect foreign ownership. In such an arrangement, a Chinese operating
company typically establishes an offshore shell company in another
jurisdiction, such as the Cayman Islands. That shell company enters into
service and other contracts with the Chinese issuer or operating company to
obtain economic exposure to the Chinese company, then issues shares on an
exchange outside of mainland China, and U.S. investors hold stock in the non-
Chinese shell company rather than directly in the Chinese issuer or operating
company. This arrangement allows U.S. investors, such as the Trust, to obtain
economic exposure to the Chinese issuer or operating company through
contractual means rather than through formal equity ownership. Because neither
the shell company nor the Trust owns actual equity interests in the Chinese
operating company, they do not have the voting rights or other types of
control that an equity holder would expect to benefit from. Although VIEs are
a longstanding industry practice and well known to officials and regulators in
China, VIEs are not formally recognized under Chinese law. Intervention by the
Chinese government with respect to VIEs could significantly affect the Chinese
company's performance and the enforceability of the VIE's contractual
arrangements that establish the links between the Chinese company and the
shell company in which the Trust invests. This could considerably impact the
financial condition of the shell company in which the Trust invests by
limiting its ability to consolidate the financial results of the Chinese
operating company into its own financial statements, as well as make the value
of the shares held by the Trust effectively worthless. Further, if Chinese
officials prohibit the existence of VIEs, the market value of the Trust's
associated holdings would likely suffer significant, and possibly permanent
effects, which could negatively impact the Trust's net asset value and could
result in substantial losses. Further, it is uncertain whether any new laws,
rules or regulations relating to VIE structures will be adopted or, if
adopted, what impact they would have on the value of the Trust's Units.

VIEs are also subject to the investment risks associated with the underlying
Chinese issuer or operating company. Chinese companies are not subject to the
same degree of regulatory requirements or accounting standards and oversight
as companies in more developed countries. As a result, information about the
Chinese securities and VIEs in which the Trust invests may be less reliable
and incomplete. There also may be significant obstacles to obtaining
information necessary for investigations into or litigation against Chinese
companies and VIEs, and shareholders may have limited legal remedies, which
could negatively impact the Trust. Additionally, U.S.-listed VIEs may be
delisted if they do not meet U.S. accounting standards and auditor oversight
requirements. Delisting would significantly decrease the liquidity and value
of the securities, decrease the ability of the Trust to invest in such
securities and may increase the cost of the Trust if required to seek
alternative markets in which to invest in such securities.

Small and/or Mid Capitalization Companies. Certain of the Securities held by
certain of the Trusts are issued by small and/or mid capitalization companies.
Investing in stocks of such companies may involve greater risk than investing
in larger companies. For example, such companies may have limited product
lines, as well as shorter operating histories, less experienced management and
more limited financial resources than larger companies. Securities of such

Page 16

companies generally trade in lower volumes and are generally subject to
greater and less predictable changes in price than securities of larger
companies. In addition, small and mid-cap stocks may not be widely followed by
the investment community, which may result in low demand.

Large Capitalization Companies. Certain of the Securities held by certain of
the Trusts are issued by large capitalization companies. The return on
investment in stocks of large capitalization companies may be less than the
return on investment in stocks of small and/or mid capitalization companies.
Large capitalization companies may also grow at a slower rate than the overall
market.

Cybersecurity Risk. As the use of Internet technology has become more
prevalent in the course of business, the Trusts have become more susceptible
to potential operational risks through breaches in cybersecurity. A breach in
cybersecurity refers to both intentional and unintentional events that may
cause a Trust to lose proprietary information, suffer data corruption or lose
operational capacity. Such events could cause the Sponsor of the Trusts to
incur regulatory penalties, reputational damage, additional compliance costs
associated with corrective measures and/or financial loss. Cybersecurity
breaches may involve unauthorized access to digital information systems
utilized by the Trusts through "hacking" or malicious software coding, but may
also result from outside attacks such as denial-of-service attacks through
efforts to make network services unavailable to intended users. In addition,
cybersecurity breaches of a Trust's third-party service providers, or issuers
in which the Trusts invest, can also subject the Trusts to many of the same
risks associated with direct cybersecurity breaches. The Sponsor of, and third-
party service provider to, the Trusts have established risk management systems
designed to reduce the risks associated with cybersecurity. However, there is
no guarantee that such efforts will succeed, especially because the Trusts do
not directly control the cybersecurity systems of issuers or third-party
service providers.

Legislation/Litigation. From time to time, various legislative initiatives are
proposed in the United States and abroad which may have a negative impact on
certain of the companies represented in the Trusts. In addition, litigation
regarding any of the issuers of the Securities, or the industries represented
by these issuers, may negatively impact the value of these Securities. We
cannot predict what impact any pending or proposed legislation or pending or
threatened litigation will have on the value of the Securities.

Backtested Hypothetical Performance Information

The following table compares the hypothetical performance information for the
identical strategies employed by each Trust and the actual performance of the
Russell 3000(R) Index and S&P 500(R) Index in each of the full years listed
below (and as of the most recent month). The Trusts did not achieve the
performance shown.

These hypothetical returns should not be used to predict or guarantee future
performance of the Trusts. Returns from a Trust will differ from its strategy
for several reasons, including the following:

- Total Return figures shown do not reflect commissions paid by a Trust on the
purchase of Securities or taxes incurred by you.

- Strategy returns are for calendar years (and through the most recent month),
while the Trusts begin and end on various dates.

- Trusts have a maturity longer than one year.

- Trusts may not be fully invested at all times or equally-weighted in each of
the strategies or the stocks comprising their respective strategy or strategies.

- Extraordinary market events that are not expected to be repeated and which
may have affected performance.

- Securities are often purchased or sold at prices different from the closing
prices used in buying and selling Units.

- Cash flows (receipt/investment of).

- Currency exchange rates may differ.

You should note that the Trusts are not designed to parallel movements in any
index and it is not expected that they will do so. In fact, each Trust's
strategy underperformed its comparative index in certain years and we cannot
guarantee that a Trust will outperform its respective index over the life of a
Trust or over consecutive rollover periods, if available. Each index differs
widely in size and focus, as described below.

Russell 3000(R) Index. The Russell 3000(R) Index offers investors access to
the broad U.S. equity universe representing approximately 98% of the U.S.
market. The Russell 3000(R) Index is constructed to provide a comprehensive,
unbiased and stable barometer of the broad market and is completely
reconstituted annually to ensure new and growing equities are reflected.

S&P 500(R) Index. The S&P 500(R) Index consists of stocks of 500 issuers
chosen by Standard and Poor's to be representative of the leaders of various
industries.

The indexes are unmanaged, not subject to fees and not available for direct
investment.

Page 17

COMPARISON OF HYPOTHETICAL TOTAL RETURN(2)
(Strategy figures reflect the deduction of sales charges and expenses but not
brokerage commissions or taxes.)

Hypothetical Strategy Total Returns(1)(3) Index Total Returns(3)

Target Dividend Target High
Blend Quality Dividend Russell 3000(R) S&P 500(R)
Year Strategy Strategy Index Index
____ _______________ ________________ _______________ __________
1995 39.58% 37.50%
1996 24.18% 22.89%
1997 34.04% 33.31%
1998 3.70% 5.00% 24.11% 28.55%
1999 1.98% -8.11% 20.96% 21.03%
2000 11.05% 17.69% -7.30% -9.10%
2001 14.48% 22.21% -11.43% -11.88%
2002 -8.21% -8.63% -21.53% -22.09%
2003 34.71% 21.84% 31.02% 28.65%
2004 19.77% 15.37% 11.93% 10.87%
2005 6.61% 1.91% 6.10% 4.90%
2006 23.18% 17.18% 15.67% 15.76%
2007 8.70% -4.21% 5.16% 5.56%
2008 -31.69% -33.10% -37.32% -36.99%
2009 48.03% 43.26% 28.29% 26.46%
2010 16.93% 14.03% 16.93% 15.08%
2011 4.70% 9.26% 1.00% 2.08%
2012 11.86% 11.26% 16.41% 15.98%
2013 35.78% 46.56% 33.55% 32.36%
2014 6.76% 10.60% 12.53% 13.65%
2015 -11.06% -9.49% 0.48% 1.38%
2016 14.15% 13.61% 12.70% 11.93%
2017 16.22% 25.22% 21.10% 21.80%
2018 -11.41% -9.39% -5.24% -4.39%
2019 21.07% 27.91% 30.99% 31.45%
2020 -4.78% -5.64% 20.88% 18.39%
2021 26.65% 31.90% 25.63% 28.67%
2022 -5.69% -5.42% -19.21% -18.12%
2023 16.68% 16.28% 25.91% 26.24%
2024 1.83% 2.69% 13.55% 15.28%
(thru 6/30)
_____________________

See "Notes to Comparison of Hypothetical Total Return" on page 19.

Page 18

NOTES TO COMPARISON OF HYPOTHETICAL TOTAL RETURN

(1) The Strategy stocks for each Strategy for a given year consist of the
common stocks selected by applying the respective Strategy as of the beginning
of the period (and not the date the Trusts actually sell Units).

(2) Hypothetical Total Return represents the sum of the change in market value
of each group of stocks between the first and last trading day of a period
plus the total dividends paid on each group of stocks during such period
divided by the opening market value of each group of stocks as of the first
trading day of a period. Hypothetical Total Return figures assume that all
dividends are reinvested monthly for the hypothetical Strategy returns and
monthly in the case of Index returns and all returns are stated in terms of
U.S. dollars. Hypothetical Strategy figures reflect the deduction of sales
charges and expenses as listed in the "Fee Table," but have not been reduced
by estimated brokerage commissions paid by Trusts in acquiring Securities or
any taxes incurred by investors. If a security which is selected by a Strategy
is merged out of existence, delisted or suffers a similar fate during the
period in which the hypothetical Strategy performance is being measured, such
security will not be replaced by another security during that period and the
return of such security will not be annualized in the calculation of the
hypothetical returns. Based on the year-by-year hypothetical returns contained
in the above table, over the full years as listed above, each hypothetical
Strategy would have hypothetically achieved a greater average annual total
return than that of its corresponding index, as shown in the table below.

Simulated returns are hypothetical, meaning that they do not represent actual
trading, and, thus, may not reflect material economic and market factors, such
as liquidity constraints, that may have had an impact on actual decision
making. The hypothetical performance is the retroactive application of the
Strategy designed with the full benefit of hindsight.

(3) Source of Index Total Returns: Bloomberg L.P.
Source of Hypothetical Strategy Total Returns: CapIQ and Compustat, as
confirmed by Bloomberg L.P. and FactSet.

HYPOTHETICAL COMPARISON OF ANNUAL RETURN FOR PERIODS ENDING DECEMBER 31, 2023

Hypothetical Strategy Average Annual Return Index Average Annual Return
Since Since
Strategy 1 Year 5 Year 10 Year Inception Corresponding Index 1 Year 5 Year 10 Year Inception
________ ______ ______ ________ _________ ___________________ ______ ______ ________ _________
Target Dividend Russell 3000(R) Index
Blend Strategy 16.68% 9.95% 6.01% 9.08% (12/31/97 - 12/31/22) 25.91% 15.14% 11.46% 8.32%
Target High Quality S&P 500(R) Index
Dividend Strategy 16.28% 11.85% 8.49% 11.04% (12/31/94 - 12/31/22) 26.24% 15.66% 12.01% 10.45%

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

Page 19

Public Offering

The Public Offering Price.

Units will be purchased at the Public Offering Price, the price per Unit of
which is comprised of the following:

- The aggregate underlying value of the Securities;

- The amount of any cash in the Income and Capital Accounts;

- Dividends receivable on Securities; and

- The maximum sales charge (which combines an initial upfront sales charge, a
deferred sales charge and the creation and development fee).

The price you pay for your Units will differ from the amount stated under
"Summary of Essential Information" due to various factors, including
fluctuations in the prices of the Securities and changes in the value of the
Income and/or Capital Accounts.

Although you are not required to pay for your Units until one business day
following your order (the "date of settlement"), you may pay before then. You
will become the owner of Units ("Record Owner") on the date of settlement if
payment has been received. If you pay for your Units before the date of
settlement, we may use your payment during this time and it may be considered
a benefit to us, subject to the limitations of the Securities Exchange Act of
1934, as amended.

Organization Costs. Securities purchased with the portion of the Public
Offering Price intended to be used to reimburse the Sponsor for a Trust's
organization costs (including costs of preparing the registration statement,
the Indenture and other closing documents, registering Units with the SEC and
states, the initial audit of each Trust's statement of net assets, legal fees
and the initial fees and expenses of the Trustee) will be purchased in the
same proportionate relationship as all the Securities contained in a Trust.
Securities will be sold to reimburse the Sponsor for a Trust's organization
costs at the end of the initial offering period (a significantly shorter time
period than the life of a Trust). During the initial offering period, there
may be a decrease in the value of the Securities. To the extent the proceeds
from the sale of these Securities are insufficient to repay the Sponsor for
Trust organization costs, the Trustee will sell additional Securities to allow
a Trust to fully reimburse the Sponsor. In that event, the net asset value per
Unit of a Trust will be reduced by the amount of additional Securities sold.
Although the dollar amount of the reimbursement due to the Sponsor will remain
fixed and will never exceed the per Unit amount set forth for a Trust in
"Notes to Statements of Net Assets," this will result in a greater effective
cost per Unit to Unit holders for the reimbursement to the Sponsor. To the
extent actual organization costs are less than the estimated amount, only the
actual organization costs will ultimately be charged to a Trust. When
Securities are sold to reimburse the Sponsor for organization costs, the
Trustee will sell Securities, to the extent practicable, which will maintain
the same proportionate relationship among the Securities contained in a Trust
as existed prior to such sale.

Minimum Purchase.

The minimum amount per account you can purchase of a Trust is generally $1,000
worth of Units ($500 if you are purchasing Units for your Individual
Retirement Account or any other qualified retirement plan), but such amounts
may vary depending on your selling firm.

Maximum Sales Charge.

The maximum sales charge of 1.85% per Unit is comprised of a transactional
sales charge and a creation and development fee. After the initial offering
period the maximum sales charge will be reduced by 0.50%, to reflect the
amount of the previously charged creation and development fee.

Transactional Sales Charge.

The transactional sales charge you will pay has both an initial and a deferred
component.

Initial Sales Charge. The initial sales charge, which you will pay at the time
of purchase, is equal to the difference between the maximum sales charge of
1.85% of the Public Offering Price and the sum of the maximum remaining
deferred sales charge and creation and development fee (initially $.185 per
Unit). On the Initial Date of Deposit, and any other day the Public Offering
Price per Unit equals $10.00, there is no initial sales charge. Thereafter,
you will pay an initial sales charge when the Public Offering Price per Unit
exceeds $10.00 and as deferred sales charge and creation and development fee
payments are made.

Monthly Deferred Sales Charge. In addition, three monthly deferred sales
charges of $.045 per Unit will be deducted from a Trust's assets on
approximately the twentieth day of each month from October 18, 2024 through
December 20, 2024. If you buy Units at a price of less than $10.00 per Unit,
the dollar amount of the deferred sales charge will not change, but the
deferred sales charge on a percentage basis will be more than 1.35% of the
Public Offering Price.

Page 20

Creation and Development Fee.

As Sponsor, we will also receive, and the Unit holders will pay, a creation
and development fee. See "Expenses and Charges" for a description of the
services provided for this fee. The creation and development fee is a charge
of $.050 per Unit collected at the end of the initial offering period. If you
buy Units at a price of less than $10.00 per Unit, the dollar amount of the
creation and development fee will not change, but the creation and development
fee on a percentage basis will be more than 0.50% of the Public Offering Price.

Discounts for Certain Persons.

The maximum sales charge is 1.85% per Unit and the maximum dealer concession
is 1.25% per Unit.

If you are purchasing Units for an investment account, the terms of which
provide that your registered investment advisor or registered broker/dealer
(a) charges periodic fees in lieu of commissions; (b) charges for financial
planning, investment advisory or asset management services; or (c) charges a
comprehensive "wrap fee" or similar fee for these or comparable services ("Fee
Accounts"), you will not be assessed the transactional sales charge described
above on such purchases. These Units will be designated as Fee Account Units
and, depending upon the purchase instructions we receive, assigned either a
Fee Account Cash CUSIP Number, if you elect to have distributions paid to you,
or a Fee Account Reinvestment CUSIP Number, if you elect to have distributions
reinvested into additional Units of a Trust. Certain Fee Account Unit holders
may be assessed transaction or other account fees on the purchase and/or
redemption of such Units by their registered investment advisor, broker/dealer
or other processing organizations for providing certain transaction or account
activities. Fee Account Units are not available for purchase in the secondary
market. We reserve the right to limit or deny purchases of Units not subject
to the transactional sales charge by investors whose frequent trading activity
we determine to be detrimental to the Trusts.

Employees, officers and directors (and immediate family members) of the
Sponsor, our related companies, and dealers and their affiliates will purchase
Units at the Public Offering Price less the applicable dealer concession,
subject to the policies of the related selling firm. Immediate family members
include spouses, or the equivalent if recognized under local law, children or
step-children under the age of 21 living in the same household, parents or
step-parents and trustees, custodians or fiduciaries for the benefit of such
persons. Only employees, officers and directors of companies that allow their
employees to participate in this employee discount program are eligible for
the discounts.

You will be charged the deferred sales charge per Unit regardless of the price
you pay for your Units or whether you are eligible to receive any discounts.
However, if the purchase price of your Units was less than $10.00 per Unit or
if you are eligible to receive a discount such that the maximum sales charge
you must pay is less than the applicable maximum deferred sales charge,
including Fee Account Units, you will be credited additional Units with a
dollar value equal to the difference between your maximum sales charge and the
maximum deferred sales charge at the time you buy your Units. If you elect to
have distributions reinvested into additional Units of a Trust, in addition to
the reinvestment Units you receive you will also be credited additional Units
with a dollar value at the time of reinvestment sufficient to cover the amount
of any remaining deferred sales charge and creation and development fee to be
collected on such reinvestment Units. The dollar value of these additional
credited Units (as with all Units) will fluctuate over time, and may be less
on the dates deferred sales charges or the creation and development fee are
collected than their value at the time they were issued.

The Value of the Securities.

The Sponsor will determine the aggregate underlying value of the Securities in
a Trust as of the Evaluation Time on each business day and will adjust the
Public Offering Price of the Units according to this valuation. This Public
Offering Price will be effective for all orders received before the Evaluation
Time on each such day. If we or the Trustee receive orders for purchases,
sales or redemptions after that time, or on a day which is not a business day,
they will be held until the next determination of price. The term "business
day" as used in this prospectus shall mean any day on which the NYSE is open.
For purposes of Securities and Unit settlement, the term business day does not
include days on which U.S. financial institutions are closed.

The aggregate underlying value of the Securities in the Trusts will be
determined as follows: if the Securities are listed on a national or foreign
securities exchange or Nasdaq, Inc., their value shall generally be based on
the closing sale price on the exchange or system which is the principal market
therefore ("Primary Exchange"), which shall be deemed to be the NYSE if the
Securities are listed thereon (unless the Sponsor deems such price
inappropriate as the basis for evaluation). In the event a closing sale price
on the Primary Exchange is not published, the Securities will be valued based
on the last trade price on the Primary Exchange. If no trades occur on the

Page 21

Primary Exchange for a specific trade date, the value will be based on the
closing sale price from, in the opinion of the Sponsor, an appropriate
secondary exchange, if any. If no trades occur on the Primary Exchange or any
appropriate secondary exchange on a specific trade date, the Sponsor will
determine the value of the Securities using the best information available to
the Sponsor, which may include the prior day's evaluated price. If the
Security is an American Depositary Receipt/ADR, Global Depositary Receipt/GDR
or other similar security in which no trade occurs on the Primary Exchange or
any appropriate secondary exchange on a specific trade date, the value will be
based on the evaluated price of the underlying security, determined as set
forth above, after applying the appropriate ADR/GDR ratio, the exchange rate
and such other information which the Sponsor deems appropriate. For purposes
of valuing Securities traded on Nasdaq, Inc., closing sale price shall mean
the Nasdaq(R) Official Closing Price as determined by Nasdaq, Inc. If the
Securities are not so listed or, if so listed and the principal market
therefore is other than on the Primary Exchange or any appropriate secondary
exchange, the value shall generally be based on the current ask price on the
over-the-counter market (unless the Sponsor deems such price inappropriate as
a basis for evaluation). If current ask prices are unavailable, the value is
generally determined (a) on the basis of current ask prices for comparable
securities, (b) by appraising the value of the Securities on the ask side of
the market, or (c) any combination of the above. If such prices are in a
currency other than U.S. dollars, the value of such Security shall be
converted to U.S. dollars based on current exchange rates (unless the Sponsor
deems such prices inappropriate as a basis for evaluation). If the Sponsor
deems a price determined as set forth above to be inappropriate as the basis
for evaluation, the Sponsor shall use such other information available to the
Sponsor which it deems appropriate as the basis for determining the value of a
Security.

After the initial offering period is over, the aggregate underlying value of
the Securities will be determined as set forth above, except that bid prices
are used instead of ask prices when necessary.

Distribution of Units

We intend to qualify Units of the Trusts for sale in a number of states. All
Units will be sold at the then current Public Offering Price.

The Sponsor compensates intermediaries, such as broker/dealers and banks, for
their activities that are intended to result in sales of Units of the Trusts.
This compensation includes dealer concessions described in the following
section and may include additional concessions and other compensation and
benefits to broker/dealers and other intermediaries.

Dealer Concessions.

Dealers and other selling agents can purchase Units at prices which reflect a
concession or agency commission of 1.25% of the Public Offering Price per
Unit, subject to reductions set forth in "Public Offering-Discounts for
Certain Persons."

Eligible dealer firms and other selling agents who, during the previous
consecutive 12-month period through the end of the most recent month, sold
primary market units of unit investment trusts sponsored by us in the dollar
amounts shown below will be entitled to up to the following additional sales
concession on primary market sales of units during the current month of unit
investment trusts sponsored by us:

Total sales Additional
(in millions) Concession
______________________________ _______________________
$25 but less than $100 0.035%
$100 but less than $150 0.050%
$150 but less than $250 0.075%
$250 but less than $1,000 0.100%
$1,000 but less than $5,000 0.125%
$5,000 but less than $7,500 0.150%
$7,500 or more 0.175%

Dealers and other selling agents will not receive a concession on the sale of
Units which are not subject to a transactional sales charge, but such Units
will be included in determining whether the above volume sales levels are met.
Eligible dealer firms and other selling agents include clearing firms that
place orders with First Trust and provide First Trust with information with
respect to the representatives who initiated such transactions. Eligible
dealer firms and other selling agents will not include firms that solely
provide clearing services to other broker/dealer firms or firms who place
orders through clearing firms that are eligible dealers. We reserve the right
to change the amount of concessions or agency commissions from time to time.

Page 22

Certain commercial banks may be making Units of the Trusts available to their
customers on an agency basis. A portion of the transactional sales charge paid
by these customers is kept by or given to the banks in the amounts shown above.

Other Compensation and Benefits to Broker/Dealers.

The Sponsor, at its own expense and out of its own profits, currently provides
additional compensation and benefits to broker/dealers who sell Units of these
Trusts and other First Trust products. This compensation is intended to result
in additional sales of First Trust products and/or compensate broker/dealers
and financial advisors for past sales. A number of factors are considered in
determining whether to pay these additional amounts. Such factors may include,
but are not limited to, the level or type of services provided by the
intermediary, the level or expected level of sales of First Trust products by
the intermediary or its agents, the placing of First Trust products on a
preferred or recommended product list, access to an intermediary's personnel,
and other factors. The Sponsor makes these payments for marketing, promotional
or related expenses, including, but not limited to, expenses of entertaining
retail customers and financial advisers, advertising, sponsorship of events or
seminars, obtaining information about the breakdown of unit sales among an
intermediary's representatives or offices, obtaining shelf space in
broker/dealer firms and similar activities designed to promote the sale of the
Sponsor's products. The Sponsor makes such payments to a substantial majority
of intermediaries that sell First Trust products. The Sponsor may also make
certain payments to, or on behalf of, intermediaries to defray a portion of
their costs incurred for the purpose of facilitating Unit sales, such as the
costs of developing or purchasing trading systems to process Unit trades.
Payments of such additional compensation described in this and the preceding
paragraph, some of which may be characterized as "revenue sharing," create a
conflict of interest by influencing financial intermediaries and their agents
to sell or recommend a First Trust product, including the Trusts, over
products offered by other sponsors or fund companies. These arrangements will
not change the price you pay for your Units.

Advertising and Investment Comparisons.

Advertising materials regarding a Trust may discuss several topics, including:
developing a long-term financial plan; working with your financial
professional; the nature and risks of various investment strategies and unit
investment trusts that could help you reach your financial goals; the
importance of discipline; how a Trust operates; how securities are selected;
various unit investment trust features such as convenience and costs; and
options available for certain types of unit investment trusts. These materials
may include descriptions of the principal businesses of the companies
represented in each Trust, research analysis of why they were selected and
information relating to the qualifications of the persons or entities
providing the research analysis. In addition, they may include research
opinions on the economy and industry sectors included and a list of investment
products generally appropriate for pursuing those recommendations.

From time to time we may compare the estimated returns of a Trust (which may
show performance net of the expenses and charges a Trust would have incurred)
and returns over specified periods of other similar trusts we sponsor in our
advertising and sales materials, with (1) returns on other taxable investments
such as the common stocks comprising various market indexes, corporate or U.S.
Government bonds, bank CDs and money market accounts or funds, (2) performance
data from Morningstar, Inc. or (3) information from publications such as
Money, The New York Times, U.S. News and World Report, Bloomberg Businessweek,
Forbes or Fortune. The investment characteristics of each Trust differ from
other comparative investments. You should not assume that these performance
comparisons will be representative of a Trust's future performance. We may
also, from time to time, use advertising which classifies trusts or portfolio
securities according to capitalization and/or investment style.

The Sponsor's Profits

We will receive a gross sales commission equal to the maximum transactional
sales charge per Unit less any reduction as stated in "Public Offering." We
will also receive the amount of any collected creation and development fee.
Also, any difference between our cost to purchase the Securities and the price
at which we sell them to a Trust is considered a profit or loss (see Note 2 of
"Notes to Schedules of Investments"). During the initial offering period,
dealers and others may also realize profits or sustain losses as a result of
fluctuations in the Public Offering Price they receive when they sell the Units.

In maintaining a market for the Units, any difference between the price at
which we purchase Units and the price at which we sell or redeem them will be
a profit or loss to us.

Page 23

The Secondary Market

Although not obligated, we may maintain a market for the Units after the
initial offering period and continuously offer to purchase Units at prices
based on the Redemption Price per Unit.

We will pay all expenses to maintain a secondary market, except fees to value
Trust Securities and Trustee costs to transfer and record the ownership of
Units. We may discontinue purchases of Units at any time. IF YOU WISH TO
DISPOSE OF YOUR UNITS, YOU SHOULD ASK US FOR THE CURRENT MARKET PRICES BEFORE
MAKING A TENDER FOR REDEMPTION TO THE TRUSTEE. If you sell or redeem your
Units before you have paid the total deferred sales charge on your Units, you
will have to pay the remainder at that time.

How We Purchase Units

The Trustee will notify us of any tender of Units for redemption. If our bid
at that time is equal to or greater than the Redemption Price per Unit, we may
purchase the Units. You will receive your proceeds from the sale no later than
if they were redeemed by the Trustee. We may tender Units we hold to the
Trustee for redemption as any other Units. If we elect not to purchase Units,
the Trustee may sell tendered Units in the over-the-counter market, if any.
However, the amount you will receive is the same as you would have received on
redemption of the Units.

Expenses and Charges

The estimated annual expenses of each Trust are listed under "Fee Table." If
actual expenses of a Trust exceed the estimate, that Trust will bear the
excess. The Trustee will pay operating expenses of the Trusts from the Income
Account of such Trust if funds are available, and then from the Capital
Account. The Income and Capital Accounts are non-interest-bearing to Unit
holders, so the Trustee may earn interest on these funds, thus benefiting from
their use.

First Trust Advisors L.P., an affiliate of ours, acts as Portfolio Supervisor
and will be compensated for providing portfolio supervisory services as well
as bookkeeping and other administrative services to the Trusts. In providing
portfolio supervisory services, the Portfolio Supervisor may purchase research
services from a number of sources, which may include underwriters or dealers
of the Trusts. As Sponsor, we will be compensated for providing evaluation
services and we will receive brokerage fees when the Trusts use us (or an
affiliate of ours) as agent in buying or selling Securities. As authorized by
the Indenture, the Trustee may employ a subsidiary or affiliate of the Trustee
to act as broker to execute certain transactions for a Trust. A Trust will pay
for such services at standard commission rates.

The fees payable to the Sponsor, First Trust Advisors L.P. and the Trustee are
based on the largest aggregate number of Units of a Trust outstanding at any
time during the calendar year, except during the initial offering period, in
which case these fees are calculated based on the largest number of Units
outstanding during the period for which compensation is paid. These fees may
be adjusted for inflation without Unit holders' approval, but in no case will
the annual fees paid to us or our affiliates for providing services to all
unit investment trusts be more than the actual cost of providing such services
in such year.

As Sponsor, we will receive a fee from each Trust for creating and developing
the Trusts, including determining each Trust's objectives, policies,
composition and size, selecting service providers and information services and
for providing other similar administrative and ministerial functions. The
"creation and development fee" is a charge of $.050 per Unit outstanding at
the end of the initial offering period. The Trustee will deduct this amount
from a Trust's assets as of the close of the initial offering period. We do
not use this fee to pay distribution expenses or as compensation for sales
efforts. This fee will not be deducted from your proceeds if you sell or
redeem your Units before the end of the initial offering period.

In addition to a Trust's operating expenses and those fees described above,
the Trusts may also incur the following charges:

- All legal expenses of the Trustee according to its responsibilities under
the Indenture;

- The expenses and costs incurred by the Trustee to protect a Trust and your
rights and interests (i.e., participating in litigation concerning a portfolio
security) and the costs of indemnifying the Trustee;

- Fees for any extraordinary services the Trustee performed under the Indenture;

- Payment for any loss, liability or expense the Trustee incurred without
negligence, bad faith or willful misconduct on its part, in connection with
its acceptance or administration of a Trust;

- Payment for any loss, liability or expenses we incurred without negligence,
bad faith or willful misconduct in acting as Sponsor of a Trust;

Page 24

- Foreign custodial and transaction fees (which may include compensation paid
to the Trustee or its subsidiaries or affiliates), if any; and/or

- All taxes and other government charges imposed upon the Securities or any
part of a Trust.

The above expenses and the Trustee's annual fee are secured by a lien on the
Trusts. In addition, if there is not enough cash in the Income or Capital
Account of a Trust, the Trustee has the power to sell Securities from such
Trust to make cash available to pay these charges which may result in capital
gains or losses to you. See "Tax Status."

Tax Status

Federal Tax Matters.

This section discusses some of the main U.S. federal income tax consequences
of owning Units of a Trust as of the date of this prospectus. Tax laws and
interpretations change frequently, and this summary does not describe all of
the tax consequences to all taxpayers. For example, this summary generally
does not describe your situation if you are a broker/dealer or other investor
with special circumstances. In addition, this section may not describe your
state, local or non-U.S. tax consequences.

This federal income tax summary is based in part on the advice of counsel to
the Sponsor. The Internal Revenue Service ("IRS") could disagree with any
conclusions set forth in this section. In addition, our counsel may not have
been asked to review, and may not have reached a conclusion with respect to
the federal income tax treatment of the assets to be deposited in the Trusts.
This summary may not be sufficient for you to use for the purpose of avoiding
penalties under federal tax law.

As with any investment, you should seek advice based on your individual
circumstances from your own tax advisor.

Trust Status.

Unit investment trusts maintain both Income and Capital Accounts, regardless
of tax structure. Please refer to the "Income and Capital Distributions"
section of the prospectus for more information.

Each Trust intends to qualify as a "regulated investment company," commonly
known as a "RIC," under the federal tax laws. If a Trust qualifies as a RIC
and distributes its income as required by the tax law, such Trust generally
will not pay federal income taxes. For federal income tax purposes, you are
treated as the owner of the Trust Units and not of the assets held by a Trust.

Income from the Trusts.

Trust distributions are generally taxable. After the end of each year, you
will receive a tax statement that separates a Trust's distributions into
ordinary income dividends, capital gain dividends and return of capital.
Income reported is generally net of expenses (but see "Treatment of Trust
Expenses" below). Ordinary income dividends are generally taxed at your
ordinary income tax rate, however, certain dividends received from a Trust may
be taxed at the capital gains tax rates. Generally, all capital gain dividends
are treated as long-term capital gains regardless of how long you have owned
your Units. In addition, a Trust may make distributions that represent a
return of capital for tax purposes and will generally not be currently taxable
to you, although they generally reduce your tax basis in your Units and thus
increase your taxable gain or decrease your loss when you dispose of your
Units. The tax laws may require you to treat distributions made to you in
January as if you had received them on December 31 of the previous year.

Some distributions from a Trust may qualify as long-term capital gains, which,
if you are an individual, is generally taxed at a lower rate than your
ordinary income and short-term capital gain income. However, capital gain
received from assets held for more than one year that is considered
"unrecaptured section 1250 gain" (which may be the case, for example, with
some capital gains attributable to equity interests in REITs) is taxed at a
higher rate. The distributions from a Trust that you must take into account
for federal income tax purposes are not reduced by the amount used to pay a
deferred sales charge, if any. Distributions from a Trust, including capital
gains, may also be subject to a "Medicare tax" if your adjusted gross income
exceeds certain threshold amounts.

Certain Stock Dividends.

Ordinary income dividends received by an individual Unit holder from RICs such
as the Trusts are generally taxed at the same rates that apply to long-term
capital gains, provided certain holding period requirements are satisfied and
provided the dividends are attributable to qualifying dividend income ("QDI")
received by a Trust itself. Dividends that do not meet these requirements will
generally be taxed at ordinary income tax rates. After the end of the tax
year, each Trust will provide a tax statement to its Unit holders reporting
the amount of any distribution which may be taken into account as a dividend
which is eligible for the capital gains tax rates.

Unit holders that are corporations may be eligible for the dividends received
deduction with respect to certain ordinary income dividends on Units that are

Page 25

attributable to qualifying dividends received by a Trust from certain
corporations.

Because certain Trusts hold REIT shares, some dividends may be designated by
the REIT as capital gain dividends and, therefore, distributions from the
Trust attributable to such dividends and designated by the Trust as capital
gain dividends may be taxable to you as capital gains. If you hold a Unit for
six months or less, any loss incurred by you related to the sale of such Unit
will be treated as a long-term capital loss to the extent of any long-term
capital gain distributions received (or deemed to have been received) with
respect to such Unit.

Some portion of the dividends on your Units that are attributable to dividends
received by a Trust from REIT shares may be designated by a Trust as eligible
for a deduction for qualified business income.

Sale of Units.

If you sell your Units (whether to a third party or to a Trust), you will
generally recognize a taxable gain or loss. To determine the amount of this
gain or loss, you must subtract your (adjusted) tax basis in your Units from
the amount you receive from the sale. Your original tax basis in your Units is
generally equal to the cost of your Units, including sales charges. In some
cases, however, you may have to adjust your tax basis after you purchase your
Units, in which case your gain would be calculated using your adjusted basis.

The tax statement you receive in regard to the sale or redemption of your
Units may contain information about your basis in the Units and whether any
gain or loss recognized by you should be considered long-term or short-term
capital gain. The information reported to you is based upon rules that do not
take into consideration all of the facts that may be known to you or to your
advisors. You should consult with your tax advisor about any adjustments that
may need to be made to the information reported to you in determining the
amount of your gain or loss.

Distribution Reinvestment Option.

If you elect to reinvest your distributions into additional Units, you will be
treated as if you have received your distribution in an amount equal to the
distribution you are entitled to. Your tax liability will be the same as if
you received the distribution in cash. Also, the reinvestment would generally
be considered a purchase of new Units for federal income tax purposes.

Treatment of Trust Expenses.

Expenses incurred and deducted by a Trust will generally not be treated as
income taxable to you. In some cases, however, you may be required to treat
your portion of these Trust expenses as income. You may not be able to take a
deduction for some or all of these expenses even if the cash you receive is
reduced by such expenses.

Investments in Certain Non-U.S. Corporations.

A foreign corporation will generally be treated as a passive foreign
investment company ("PFIC") if 75% or more of its income is passive income or
if 50% or more of its assets are held to produce passive income. If a Trust
holds an equity interest in PFICs, such Trust could be subject to U.S. federal
income tax and additional interest charges on gains and certain distributions
from the PFICs, even if all the income or gain is distributed in a timely
fashion to such Trust Unit holders. A Trust will not be able to pass through
to its Unit holders any credit or deduction for such taxes if the taxes are
imposed at the Trust level. A Trust may be able to make an election that could
limit the tax imposed on such Trust. In this case, a Trust would recognize as
ordinary income any increase in the value of such PFIC shares, and as ordinary
loss any decrease in such value to the extent it did not exceed prior
increases included in income.

Under this election, a Trust might be required to recognize income in excess
of its distributions from the PFICs and its proceeds from dispositions of PFIC
stock during that year, and such income would nevertheless be subject to the
distribution requirement and would be taken into account for purposes of
determining the application of the 4% excise tax imposed on RICs that do not
meet certain distribution thresholds. Dividends paid by PFICs are not treated
as QDI to shareholders of the PFICs.

Non-U.S. Investors.

If you are a non-U.S. investor, distributions from a Trust treated as
dividends will generally be subject to a U.S. withholding tax of 30% of the
distribution. Certain dividends, such as capital gains dividends and short-
term capital gains dividends, may not be subject to U.S. withholding taxes. In
addition, some non-U.S. investors may be eligible for a reduction or
elimination of U.S. withholding taxes under a treaty. However, the
qualification for those exclusions may not be known at the time of the
distribution and some excluded income may be taken into consideration for
alternative minimum tax purposes.

Separately, the United States, pursuant to the Foreign Account Tax Compliance
Act ("FATCA") imposes a 30% tax on certain non-U.S. entities that receive U.S.
source interest or dividends if the non-U.S. entity does not comply with
certain U.S. disclosure and reporting requirements. This FATCA tax also

Page 26

currently applies to the gross proceeds from the disposition of securities
that produce U.S. source interest or dividends. However, proposed regulations
may eliminate the requirement to withhold on payments of gross proceeds from
dispositions.

It is the responsibility of the entity through which you hold your Units to
determine the applicable withholding.

Foreign Tax Credit.

If a Trust directly or indirectly invests in non-U.S. stocks, the tax
statement that you receive may include an item showing foreign taxes such
Trust paid to other countries. You may be able to deduct or receive a tax
credit for your share of these taxes. A Trust would have to meet certain IRS
requirements in order to pass through credits to you.

In-Kind Distributions.

If permitted by this prospectus, as described in "Redeeming Your Units," you
may request an In-Kind Distribution of a Trust's assets when you redeem your
Units. This distribution is subject to tax, and you will generally recognize
gain or loss, generally based on the value at that time of the securities and
the amount of cash received.

Rollovers.

If you elect to have your proceeds from your Trust rolled over into a future
series of the Trust, the exchange would generally be considered a sale for
federal income tax purposes.

You should consult your tax advisor regarding potential foreign, state or
local taxation with respect to your Units.

Retirement Plans

You may purchase Units of the Trusts for:

- Individual Retirement Accounts;

- Keogh Plans;

- Pension funds; and

- Other tax-deferred retirement plans.

Generally, the federal income tax on capital gains and income received in each
of the above plans is deferred until you receive distributions. These
distributions are generally treated as ordinary income but may, in some cases,
be eligible for special averaging or tax-deferred rollover treatment. Before
participating in a plan like this, you should review the tax laws regarding
these plans and consult your attorney or tax advisor. Brokerage firms and
other financial institutions offer these plans with varying fees and charges.

Rights of Unit Holders

Unit Ownership.

Ownership of Units will not be evidenced by certificates. If you purchase or
hold Units through a broker/dealer or bank, your ownership of Units will be
recorded in book-entry form at the Depository Trust Company ("DTC") and
credited on its records to your broker/dealer's or bank's DTC account.
Transfer of Units will be accomplished by book entries made by DTC and its
participants if the Units are registered to DTC or its nominee, Cede & Co. DTC
will forward all notices and credit all payments received in respect of the
Units held by the DTC participants. You will receive written confirmation of
your purchases and sales of Units from the broker/dealer or bank through which
you made the transaction. You may transfer your Units by contacting the
broker/dealer or bank through which you hold your Units.

Unit Holder Reports.

The Trustee will prepare a statement detailing the per Unit amounts (if any)
distributed from the Income Account and Capital Account in connection with
each distribution. In addition, at the end of each calendar year, the Trustee
will prepare a statement which contains the following information:

- A summary of transactions in the Trusts for the year;

- A list of any Securities sold during the year and the Securities held at the
end of that year by the Trusts;

- The Redemption Price per Unit, computed on the 31st day of December of such
year (or the last business day before); and

- Amounts of income and capital distributed during the year.

By February 15th yearly, the Annual Reports are posted to the Sponsor's
website (www.ftportfolios.com) in the UIT Tax Center and retrievable by CUSIP.
You may also request one be sent to you by calling the Sponsor at 800-621-
1675, dept. code 2. In addition, you may also request from the Trustee copies
of the evaluations of the Securities as prepared by the Sponsor to enable you
to comply with applicable federal and state tax reporting requirements.

Page 27

Income and Capital Distributions

You will be eligible to receive distributions, if any, on your Units only
after you become a Record Owner. The Trustee will credit dividends received on
a Trust's Securities to the Income Account of such Trust. All other receipts,
such as return of capital or capital gain dividends, are credited to the
Capital Account of such Trust. Dividends received on foreign Securities, if
any, are converted into U.S. dollars at the applicable exchange rate.

The Trustee will make distributions from the Income Account on or near the
Income Account Distribution Dates to Unit holders of record on the preceding
Income Account Distribution Record Date provided the amount equals at least
$1.00 per 100 Units. No Income Account distribution will be paid if accrued
expenses of a Trust exceed amounts in the Income Account on the Distribution
Dates. Distribution amounts will vary with changes in a Trust's fees and
expenses, in dividends received and with the sale of Securities. The Trustee
will distribute amounts in the Capital Account, net of amounts designated to
meet redemptions, pay the deferred sales charge and creation and development
fee or pay expenses, on the twenty-fifth day of each month to Unit holders of
record on the tenth day of each month provided the amount equals at least
$1.00 per 100 Units. In any case, the Trustee may distribute funds in the
Capital Account in December of each year to avoid imposition of any income or
excise taxes on undistributed income in a Trust and will distribute funds as
part of the final liquidation distribution.

If an Income or Capital Account distribution date is a day on which the NYSE
is closed, the distribution will be made on the next day the stock exchange is
open. Distributions are paid to Unit holders of record determined as of the
close of business on the Record Date for that distribution or, if the Record
Date is a day on which the NYSE is closed, the first preceding day on which
the exchange is open.

We anticipate that there will be enough money in the Capital Account of a
Trust to pay the deferred sales charge to the Sponsor. If not, the Trustee may
sell Securities to meet the shortfall.

Within a reasonable time after a Trust is terminated, unless you are a
Rollover Unit holder, you will receive the pro rata share of the money from
the sale of the Securities and amounts in the Income and Capital Accounts. All
Unit holders will receive a pro rata share of any other assets remaining in
their Trust, after deducting any unpaid expenses.

The Trustee may establish reserves (the "Reserve Account") within a Trust to
cover anticipated state and local taxes or any governmental charges to be paid
out of that Trust.

Distribution Reinvestment Option. You may elect to have each distribution of
income and/or capital reinvested into additional Units of your Trust by
notifying your broker/dealer or bank within the time period required by such
entities so that they can notify the Trustee of your election at least 10 days
before any Record Date. Each later distribution of income and/or capital on
your Units will be reinvested by the Trustee into additional Units of such
Trust. There is no sales charge on Units acquired through the Distribution
Reinvestment Option, as discussed under "Public Offering." This option may not
be available in all states. Each reinvestment plan is subject to availability
or limitation by the Sponsor and each broker/dealer or selling firm. The
Sponsor or broker/dealers may suspend or terminate the offering of a
reinvestment plan at any time. Because a Trust may begin selling Securities
nine business days prior to the Mandatory Termination Date, reinvestment is
not available during this period. Please contact your financial professional
for additional information. PLEASE NOTE THAT EVEN IF YOU REINVEST
DISTRIBUTIONS, THEY ARE STILL CONSIDERED DISTRIBUTIONS FOR INCOME TAX PURPOSES.

Redeeming Your Units

You may redeem all or a portion of your Units at any time by sending a request
for redemption to your broker/dealer or bank through which you hold your
Units. No redemption fee will be charged, but you are responsible for any
governmental charges that apply. Certain broker/dealers may charge a
transaction fee for processing redemption requests. One business day after the
day you tender your Units (the "Date of Tender") you will receive cash in an
amount for each Unit equal to the Redemption Price per Unit calculated at the
Evaluation Time on the Date of Tender.

The Date of Tender is considered to be the date on which your redemption
request is received by the Trustee from the broker/dealer or bank through
which you hold your Units (if such day is a day the NYSE is open for trading).
However, if the redemption request is received after 4:00 p.m. Eastern time

Page 28

(or after any earlier closing time on a day on which the NYSE is scheduled in
advance to close at such earlier time), the Date of Tender is the next day the
NYSE is open for trading.

Any amounts paid on redemption representing income will be withdrawn from the
Income Account if funds are available for that purpose, or from the Capital
Account. All other amounts paid on redemption will be taken from the Capital
Account.

If you tender for redemption at least 2,500 Units of Target Dividend Blend
Portfolio or 2,500 Units of Target High Quality Dividend Portfolio, or such
larger amount as required by your broker/dealer or bank, rather than receiving
cash, you may elect to receive an In-Kind Distribution in an amount equal to
the Redemption Price per Unit by making this request to your broker/dealer or
bank at the time of tender. However, to be eligible to participate in the In-
Kind Distribution option at redemption, Unit holders must hold their Units
through the end of the initial offering period. No In-Kind Distribution
requests submitted during the 10 business days prior to a Trust's Mandatory
Termination Date will be honored. Where possible, the Trustee will make an In-
Kind Distribution by distributing each of the Securities in book-entry form to
your bank's or broker/dealer's account at DTC. The Trustee will subtract any
customary transfer and registration charges from your In-Kind Distribution. As
a tendering Unit holder, you will receive your pro rata number of whole shares
of Securities that make up the portfolio, and cash from the Capital Account
equal to the fractional shares to which you are entitled.

If you elect to receive an In-Kind Distribution of Securities, you should be
aware that it will be considered a taxable event at the time you receive the
Securities. See "Tax Status" for additional information.

The Trustee may sell Securities to make funds available for redemption. If
Securities are sold, the size and diversification of a Trust will be reduced.
These sales may result in lower prices than if the Securities were sold at a
different time.

Your right to redeem Units (and therefore, your right to receive payment) may
be delayed:

- If the NYSE is closed (other than customary weekend and holiday closings);

- If the SEC determines that trading on the NYSE is restricted or that an
emergency exists making sale or evaluation of the Securities not reasonably
practical; or

- For any other period permitted by SEC order.

The Trustee is not liable to any person for any loss or damage which may
result from such a suspension or postponement.

The Redemption Price.

The Redemption Price per Unit is determined by the Trustee by:

adding

1. cash in the Income and Capital Accounts of a Trust not designated to
purchase Securities;

2. the aggregate underlying value of the Securities held in that Trust; and

3. dividends receivable on the Securities trading ex-dividend as of the date
of computation; and

deducting

1. any applicable taxes or governmental charges that need to be paid out of
such Trust;

2. any amounts owed to the Trustee for its advances;

3. estimated accrued expenses of such Trust, if any;

4. cash held for distribution to Unit holders of record of such Trust as of
the business day before the evaluation being made;

5. liquidation costs for foreign Securities, if any; and

6. other liabilities incurred by such Trust; and

dividing

1. the result by the number of outstanding Units of such Trust.

Any remaining deferred sales charge on the Units when you redeem them will be
deducted from your redemption proceeds. In addition, until they are collected,
the Redemption Price per Unit will include estimated organization costs as set
forth under "Fee Table."

Investing in a New Trust

When each Trust is about to terminate, you may have the option to roll your
proceeds into the next series of a Trust (the "New Trusts") if one is
available. We intend to create the New Trusts in conjunction with the
termination of the Trusts and plan to apply the same strategy we used to
select the portfolio for the Trusts to the New Trusts.

If you wish to have the proceeds from your Units rolled into a New Trust you
must notify the broker/dealer where your Units are held of your election prior
to that firm's cut-off date. If you make this election you will be considered
a "Rollover Unit holder."

Once all of the Securities are sold in connection with the termination of a
Trust, as described in "Amending or Terminating the Indenture," your proceeds,
less any brokerage fees, governmental charges or other expenses involved in
the sales, will be used to buy units of a New Trust or trust with a similar
investment strategy that you have selected, provided such trusts are

Page 29

registered and being offered. Accordingly, proceeds may be uninvested for up
to several days. Units purchased with rollover proceeds will generally be
purchased subject to the sales charge set forth in the prospectus for such
trust.

We intend to create New Trust units as quickly as possible, depending on the
availability of the securities contained in a New Trust's portfolio. Rollover
Unit holders will be given first priority to purchase New Trust units. We
cannot, however, assure the exact timing of the creation of New Trust units or
the total number of New Trust units we will create. Any proceeds not invested
on behalf of Rollover Unit holders in New Trust units will be distributed
within a reasonable time after such occurrence. Although we believe that
enough New Trust units can be created, monies in a New Trust may not be fully
invested on the next business day.

Please note that there are certain tax consequences associated with becoming a
Rollover Unit holder. See "Tax Status." We may modify, amend or terminate this
rollover option upon 60 days notice.

Removing Securities from a Trust

The portfolios of the Trusts are not managed. However, we may, but are not
required to, direct the Trustee to dispose of a Security in certain limited
circumstances, including situations in which:

- The issuer of the Security defaults in the payment of a declared dividend;

- Any action or proceeding prevents the payment of dividends;

- There is any legal question or impediment affecting the Security;

- The issuer of the Security has breached a covenant which would affect the
payment of dividends, the issuer's credit standing, or otherwise damage the
sound investment character of the Security;

- The issuer has defaulted on the payment of any other of its outstanding
obligations;

- There has been a public tender offer made for a Security or a merger or
acquisition is announced affecting a Security, and that in our opinion the
sale or tender of the Security is in the best interest of Unit holders;

- The sale of Securities is necessary or advisable (i) in order to maintain
the qualification of a Trust as a "regulated investment company" in the case
of a Trust which has elected to qualify as such or (ii) to provide funds to
make any distribution for a taxable year in order to avoid imposition of any
income or excise taxes on undistributed income in a Trust which is a
"regulated investment company";

- The price of the Security has declined to such an extent, or such other
credit factors exist, that in our opinion keeping the Security would be
harmful to a Trust;

- As a result of the ownership of the Security, a Trust or its Unit holders
would be a direct or indirect shareholder of a passive foreign investment
company; or

- The sale of the Security is necessary for a Trust to comply with such
federal and/or state laws, regulations and/or regulatory actions and
interpretations which may be in effect from time to time.

Except for instances in which a Trust acquires Replacement Securities, as
described in "The FT Series," a Trust will generally not acquire any
securities or other property other than the Securities. The Trustee, on behalf
of such Trust and at the direction of the Sponsor, will vote for or against
any offer for new or exchanged securities or property in exchange for a
Security, such as those acquired in a merger or other transaction. If such
exchanged securities or property are acquired by a Trust, at our instruction,
they will either be sold or held in such Trust. In making the determination as
to whether to sell or hold the exchanged securities or property we may get
advice from the Portfolio Supervisor. Any proceeds received from the sale of
Securities, exchanged securities or property will be credited to the Capital
Account of a Trust for distribution to Unit holders or to meet redemption
requests. The Trustee may retain and pay us or an affiliate of ours to act as
agent for a Trust to facilitate selling Securities, exchanged securities or
property from the Trusts. If we or our affiliate act in this capacity, we will
be held subject to the restrictions under the 1940 Act. When acting in an
agency capacity, we may select various broker/dealers to execute securities
transactions on behalf of the Trusts, which may include broker/dealers who
sell Units of the Trusts. We do not consider sales of Units of the Trusts or
any other products sponsored by First Trust as a factor in selecting such
broker/dealers. As authorized by the Indenture, the Trustee may also employ a
subsidiary or affiliate of the Trustee to act as broker in selling such
Securities or property. Each Trust will pay for these brokerage services at
standard commission rates.

The Trustee may sell Securities designated by us, or, absent our direction, at
its own discretion, in order to meet redemption requests or pay expenses. In
designating Securities to be sold, we will try to maintain the proportionate
relationship among the Securities. If this is not possible, the composition
and diversification of a Trust may be changed.

Page 30

Amending or Terminating the Indenture

Amendments. The Indenture may be amended by us and the Trustee without your
consent:

- To cure ambiguities;

- To correct or supplement any defective or inconsistent provision;

- To make any amendment required by any governmental agency; or

- To make other changes determined not to be adverse to your best interests
(as determined by us and the Trustee).

Termination. As provided by the Indenture, each Trust will terminate on the
Mandatory Termination Date as stated in the "Summary of Essential
Information." The Trusts may be terminated earlier:

- Upon the consent of 100% of the Unit holders of a Trust;

- If the value of the Securities owned by such Trust as shown by any
evaluation is less than the lower of $2,000,000 or 20% of the total value of
Securities deposited in such Trust during the initial offering period
("Discretionary Liquidation Amount"); or

- In the event that Units of a Trust not yet sold aggregating more than 60% of
the Units of such Trust are tendered for redemption by underwriters, including
the Sponsor.

If a Trust is terminated due to this last reason, we will refund your entire
sales charge; however, termination of a Trust before the Mandatory Termination
Date for any other stated reason will result in all remaining unpaid deferred
sales charges on your Units being deducted from your termination proceeds. For
various reasons, a Trust may be reduced below the Discretionary Liquidation
Amount and could therefore be terminated before the Mandatory Termination Date.

Unless terminated earlier, the Trustee may begin to sell Securities in
connection with the termination of a Trust as early as nine business days
prior to, but will sell Securities no later than, the Mandatory Termination
Date. We will determine the manner and timing of the sale of Securities.
Because the Trustee must sell the Securities within a relatively short period
of time, the sale of Securities as part of the termination process may result
in a lower sales price than might otherwise be realized if such sale were not
required at this time.

If you do not elect to participate in the rollover option, you will receive a
cash distribution from the sale of the remaining Securities, along with your
interest in the Income and Capital Accounts, within a reasonable time after
your Trust is terminated. The Trustee will deduct from a Trust any accrued
costs, expenses, advances or indemnities provided for by the Indenture,
including estimated compensation of the Trustee and costs of liquidation and
any amounts required as a reserve to pay any taxes or other governmental
charges.

Information on the Sponsor and Trustee

The Sponsor.

We, First Trust Portfolios L.P., specialize in the underwriting, trading and
wholesale distribution of unit investment trusts under the "First Trust" brand
name as well as other securities. An Illinois limited partnership formed in
1991, we took over the First Trust product line and act as Sponsor for
successive series of:

- The First Trust Combined Series

- FT Series (formerly known as The First Trust Special Situations Trust)

- The First Trust Insured Corporate Trust

- The First Trust of Insured Municipal Bonds

- The First Trust GNMA

The First Trust product line commenced with the first insured unit investment
trust in 1974. To date we have deposited more than $620 billion in First Trust
unit investment trusts. Our employees include a team of professionals with
many years of experience in the unit investment trust industry.

We are a member of FINRA and SIPC. Our principal offices are at 120 East
Liberty Drive, Wheaton, Illinois 60187; telephone number 800-621-1675. As of
December 31, 2023, the total partners' capital of First Trust Portfolios L.P.
was $76,684,733.

This information refers only to us and not to the Trusts or to any series of
the Trusts or to any other dealer. We are including this information only to
inform you of our financial responsibility and our ability to carry out our
contractual obligations. We will provide more detailed financial information
on request.

Code of Ethics. The Sponsor and the Trusts have adopted a code of ethics
requiring the Sponsor's employees who have access to information on Trust
transactions to report personal securities transactions. The purpose of the
code is to avoid potential conflicts of interest and to prevent fraud,
deception or misconduct with respect to the Trusts.

Page 31

The Trustee.

The Trustee is The Bank of New York Mellon, a trust company organized under
the laws of New York. The Bank of New York Mellon has its unit investment
trust division offices at 240 Greenwich Street, New York, New York 10286,
telephone 800-813-3074. If you have questions regarding your account or your
Trust, please contact the Trustee at its unit investment trust division
offices or your financial adviser. The Sponsor does not have access to
individual account information. The Bank of New York Mellon is subject to
supervision and examination by the Superintendent of the New York State
Department of Financial Services and the Board of Governors of the Federal
Reserve System, and its deposits are insured by the Federal Deposit Insurance
Corporation to the extent permitted by law.

The Trustee has not participated in selecting the Securities; it only provides
administrative services.

Limitations of Liabilities of Sponsor and Trustee.

Neither we nor the Trustee will be liable for taking any action or for not
taking any action in good faith according to the Indenture. We will also not
be accountable for errors in judgment. We will only be liable for our own
willful misfeasance, bad faith, gross negligence (ordinary negligence in the
Trustee's case) or reckless disregard of our obligations and duties. The
Trustee is not liable for any loss or depreciation when the Securities are
sold. If we fail to act under the Indenture, the Trustee may do so, and the
Trustee will not be liable for any action it takes in good faith under the
Indenture.

The Trustee will not be liable for any taxes or other governmental charges or
interest on the Securities which the Trustee may be required to pay under any
present or future law of the United States or of any other taxing authority
with jurisdiction. Also, the Indenture states other provisions regarding the
liability of the Trustee.

If we do not perform any of our duties under the Indenture or are not able to
act or become bankrupt, or if our affairs are taken over by public
authorities, then the Trustee may:

- Appoint a successor sponsor, paying them a reasonable rate not more than
that stated by the SEC;

- Terminate the Indenture and liquidate the Trusts; or

- Continue to act as Trustee without terminating the Indenture.

The Trustee and Unit holders may rely on the accuracy of any evaluation
prepared by the Sponsor. The Sponsor will make determinations in good faith
based upon the best available information, but will not be liable to the
Trustee or Unit holders for errors in judgment.

Other Information

Legal Opinions.

Our counsel is Chapman and Cutler LLP, 320 S. Canal St., Chicago, Illinois
60606. They have passed upon the legality of the Units offered hereby and
certain matters relating to federal tax law. Carter Ledyard & Milburn LLP acts
as the Trustee's counsel.

Experts.

The Trusts' statements of net assets, including the schedules of investments,
as of the opening of business on the Initial Date of Deposit included in this
prospectus, have been audited by Deloitte & Touche LLP, an independent
registered public accounting firm, as stated in their report appearing herein,
and are included in reliance upon the report of such firm given upon their
authority as experts in accounting and auditing.

Supplemental Information.

If you write or call the Sponsor, you will receive free of charge supplemental
information about this Series, which has been filed with the SEC and to which
we have referred throughout. This information states more specific details
concerning the nature, structure and risks of this product.

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FIRST TRUST(R)

Target Dvd. Blend 3Q '24 - Term 10/9/25
Target High Quality Dvd. 3Q '24 - Term 10/9/25
FT 11569

Sponsor:

First Trust Portfolios L.P.

Member SIPC o Member FINRA
120 East Liberty Drive
Wheaton, Illinois 60187
800-621-1675

Trustee:

The Bank of New York Mellon

240 Greenwich Street
New York, New York 10286
800-813-3074
24-Hour Pricing Line:
800-446-0132

________________________

When Units of the Trusts are no longer available, this prospectus may be used
as a preliminary prospectus
for a future series, in which case you should note the following:

THE INFORMATION IN THE PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY
NOT SELL, OR ACCEPT OFFERS TO BUY, SECURITIES OF A FUTURE SERIES UNTIL THAT
SERIES HAS BECOME EFFECTIVE WITH THE SEC. NO SECURITIES CAN BE SOLD IN ANY
STATE WHERE A SALE WOULD BE ILLEGAL.

________________________

This prospectus contains information relating to the above-mentioned unit
investment trusts, but does not contain all of the information about this
investment company as filed with the SEC in Washington, D.C. under the:

- Securities Act of 1933 (file no. 333-279138) and

- Investment Company Act of 1940 (file no. 811-05903)

Information about the Trusts, including their Codes of Ethics, can be reviewed
and copied at the SEC's Public Reference Room in Washington, D.C. Information
regarding the operation of the SEC's Public Reference Room may be obtained by
calling the SEC at 202-942-8090.

Information about the Trusts is available on the EDGAR Database on the SEC's
Internet site at www.sec.gov.

To obtain copies at prescribed rates -

Write: Public Reference Section of the SEC
100 F Street, N.E.
Washington, D.C. 20549
e-mail address: publicinfo@sec.gov

July 9, 2024

PLEASE RETAIN THIS PROSPECTUS FOR FUTURE REFERENCE

FIRST TRUST(R)

The FT Series

Information Supplement

This Information Supplement provides additional information concerning the
structure, operations and risks of the unit investment trusts contained in FT
11569 not found in the prospectus for the Trusts. This Information Supplement
is not a prospectus and does not include all of the information you should
consider before investing in the Trusts. This Information Supplement should be
read in conjunction with the prospectus for the Trust in which you are
considering investing.

This Information Supplement is dated July 9, 2024. Capitalized terms have been
defined in the prospectus.

Table of Contents

Risk Factors
Securities 1
Dividends 1
REITs 1
Foreign Issuers 3
Small and/or Mid Capitalization Companies 4
Concentration
Concentration Risk 4
Financials 4

Risk Factors

Securities. An investment in Units should be made with an understanding of the
risks which an investment in common stocks entails, including the risk that
the financial condition of the issuers of the Securities or the general
condition of the relevant stock market may worsen, and the value of the
Securities and therefore the value of the Units may decline. Common stocks are
especially susceptible to general stock market movements and to volatile
increases and decreases of value, as market confidence in and perceptions of
the issuers change. These perceptions are based on unpredictable factors,
including expectations regarding government, economic, monetary and fiscal
policies, inflation and interest rates, economic expansion or contraction, and
global or regional political, economic or banking crises.

Dividends. Shareholders of common stocks have rights to receive payments from
the issuers of those common stocks that are generally subordinate to those of
creditors of, or holders of debt obligations or preferred stocks of, such
issuers. Shareholders of common stocks have a right to receive dividends only
when and if, and in the amounts declared by the issuer's board of directors
and have a right to participate in amounts available for distribution by the
issuer only after all other claims on the issuer have been paid or provided
for. Common stocks do not represent an obligation of the issuer and,
therefore, do not offer any assurance of income or provide the same degree of
protection of capital as do debt securities. The issuance of additional debt
securities or preferred stock will create prior claims for payment of
principal, interest and dividends which could adversely affect the ability and
inclination of the issuer to declare or pay dividends on its common stock or
the rights of holders of common stock with respect to assets of the issuer
upon liquidation or bankruptcy. Cumulative preferred stock dividends must be
paid before common stock dividends, and any cumulative preferred stock
dividend omitted is added to future dividends payable to the holders of
cumulative preferred stock. Preferred stockholders are also generally entitled
to rights on liquidation which are senior to those of common stockholders.

REITs. An investment in individual Trusts which invest in REITs should be made
with an understanding of risks inherent in an investment in U.S.-based REITs
specifically and real estate generally (in addition to securities market
risks). Generally, these include economic recession, the cyclical nature of
real estate markets, competitive overbuilding, unusually adverse weather
conditions, changing demographics, changes in governmental regulations
(including tax laws and environmental, building, zoning and sales
regulations), increases in real estate taxes or costs of material and labor,
the inability to secure performance guarantees or insurance as required, the
unavailability of investment capital and the inability to obtain construction
financing or mortgage loans at rates acceptable to builders and purchasers of

Page 1

real estate. Additional risks include an inability to reduce expenditures
associated with a property (such as mortgage payments and property taxes) when
rental revenue declines, and possible loss upon foreclosure of mortgaged
properties if mortgage payments are not paid when due.

REITs are financial vehicles that have as their objective the pooling of
capital from a number of investors in order to participate directly in real
estate ownership or financing. REITs are generally fully integrated operating
companies that have interests in income-producing real estate. Equity REITs
emphasize direct property investment, holding their invested assets primarily
in the ownership of real estate or other equity interests. REITs obtain
capital funds for investment in underlying real estate assets by selling debt
or equity securities in the public or institutional capital markets or by bank
borrowing. Thus, the returns on common equities of REITs will be significantly
affected by changes in costs of capital and, particularly in the case of
highly "leveraged" REITs (i.e., those with large amounts of borrowings
outstanding), by changes in the level of interest rates. The objective of an
equity REIT is to purchase income-producing real estate properties in order to
generate high levels of cash flow from rental income and a gradual asset
appreciation, and they typically invest in properties such as office, retail,
industrial, hotel and apartment buildings and healthcare facilities.

REITs are a creation of the tax law. REITs essentially operate as a
corporation or business trust with the advantage of exemption from corporate
income taxes provided the REIT satisfies the requirements of Sections 856
through 860 of the Internal Revenue Code. The major tests for tax-qualified
status are that the REIT (i) be managed by one or more trustees or directors,
(ii) issue shares of transferable interest to its owners, (iii) have at least
100 shareholders, (iv) have no more than 50% of the shares held by five or
fewer individuals, (v) invest substantially all of its capital in real estate
related assets and derive substantially all of its gross income from real
estate related assets and (vi) distributed at least 95% of its taxable income
to its shareholders each year. If a REIT should fail to qualify for such tax
status, the related shareholders (including such Trust) could be adversely
affected by the resulting tax consequences.

The underlying value of the Securities and a Trust's ability to make
distributions to Unit holders may be adversely affected by changes in national
economic conditions, changes in local market conditions due to changes in
general or local economic conditions and neighborhood characteristics,
increased competition from other properties, obsolescence of property, changes
in the availability, cost and terms of mortgage funds, the impact of present
or future environmental legislation and compliance with environmental laws,
the ongoing need for capital improvements, particularly in older properties,
changes in real estate tax rates and other operating expenses, regulatory and
economic impediments to raising rents, adverse changes in governmental rules
and fiscal policies, dependency on management skill, civil unrest, acts of
God, including earthquakes, fires and other natural disasters (which may
result in uninsured losses), acts of war, adverse changes in zoning laws, and
other factors which are beyond the control of the issuers of REITs. The value
of REITs may at times be particularly sensitive to devaluation in the event of
rising interest rates.

REITs may concentrate investments in specific geographic areas or in specific
property types, i.e., hotels, shopping malls, residential complexes, office
buildings and timberlands. The impact of economic conditions on REITs can also
be expected to vary with geographic location and property type. Investors
should be aware that REITs may not be diversified and are subject to the risks
of financing projects. REITs are also subject to defaults by borrowers, self-
liquidation, the market's perception of the REIT industry generally, and the
possibility of failing to qualify for pass-through of income under the
Internal Revenue Code, and to maintain exemption from the Investment Company
Act of 1940. A default by a borrower or lessee may cause a REIT to experience
delays in enforcing its right as mortgagee or lessor and to incur significant
costs related to protecting its investments. In addition, because real estate
generally is subject to real property taxes, REITs may be adversely affected
by increases or decreases in property tax rates and assessments or
reassessments of the properties underlying REITs by taxing authorities.
Furthermore, because real estate is relatively illiquid, the ability of REITs
to vary their portfolios in response to changes in economic and other
conditions may be limited and may adversely affect the value of the Units.
There can be no assurance that any REIT will be able to dispose of its
underlying real estate assets when advantageous or necessary.

The issuer of REITs generally maintains comprehensive insurance on presently
owned and subsequently acquired real property assets, including liability,
fire and extended coverage. However, certain types of losses may be
uninsurable or not be economically insurable as to which the underlying
properties are at risk in their particular locales. There can be no assurance
that insurance coverage will be sufficient to pay the full current market
value or current replacement cost of any lost investment. Various factors
might make it impracticable to use insurance proceeds to replace a facility
after it has been damaged or destroyed. Under such circumstances, the
insurance proceeds received by a REIT might not be adequate to restore its
economic position with respect to such property.

Page 2

Under various environmental laws, a current or previous owner or operator of
real property may be liable for the costs of removal or remediation of
hazardous or toxic substances on, under or in such property. Such laws often
impose liability whether or not the owner or operator caused or knew of the
presence of such hazardous or toxic substances and whether or not the storage
of such substances was in violation of a tenant's lease. In addition, the
presence of hazardous or toxic substances, or the failure to remediate such
property properly, may adversely affect the owner's ability to borrow using
such real property as collateral. No assurance can be given that REITs may not
be presently liable or potentially liable for any such costs in connection
with real estate assets they presently own or subsequently acquire. Certain of
the REITs may also be Mortgage REITs. Mortgage REITs are companies that
provide financing for real estate by purchasing or originating mortgages and
mortgage-backed securities and earn income from the interest on these
investments. Mortgage REITs are also subject to many of the same risks
associated with investments in other REITs and to real estate market conditions.

Foreign Issuers. Since certain of the Securities held by the Trust consist of,
or invest in, securities issued by foreign entities, an investment in the
Trust involves certain investment risks that are different in some respects
from an investment in a trust which invests solely in the securities of
domestic entities. These investment risks include future political or
governmental restrictions which might adversely affect the payment or receipt
of payment of dividends on the relevant Securities, the possibility that the
financial condition of the issuers of the Securities may become impaired or
that the general condition of the relevant stock market may worsen (both of
which would contribute directly to a decrease in the value of the Securities
and thus in the value of the Units), the limited liquidity and relatively
small market capitalization of the relevant securities market, expropriation
or confiscatory taxation, economic uncertainties and foreign currency
devaluations and fluctuations. In addition, for foreign issuers that are not
subject to the reporting requirements of the Securities Exchange Act of 1934,
as amended, there may be less publicly available information than is available
from a domestic issuer. Also, foreign issuers are not necessarily subject to
uniform accounting, auditing and financial reporting standards, practices and
requirements comparable to those applicable to domestic issuers. The
securities of many foreign issuers are less liquid and their prices more
volatile than securities of comparable domestic issuers. In addition, fixed
brokerage commissions and other transaction costs on foreign securities
exchanges are generally higher than in the United States and there is
generally less government supervision and regulation of exchanges, brokers and
issuers in foreign countries than there is in the United States. However, due
to the nature of the issuers of the Securities selected for the Trust, the
Sponsor believes that adequate information will be available to allow the
Supervisor to provide portfolio surveillance for the Trust.

Securities issued by non-U.S. issuers may pay interest and/or dividends in
foreign currencies and may be principally traded in foreign currencies.
Therefore, there is a risk that the U.S. dollar value of these interest and/or
dividend payments and/or securities will vary with fluctuations in foreign
exchange rates.

On the basis of the best information available to the Sponsor at the present
time, none of the Securities in the Trust are subject to exchange control
restrictions under existing law which would materially interfere with payment
to the Trust of dividends due on, or proceeds from the sale of, the
Securities. However, there can be no assurance that exchange control
regulations might not be adopted in the future which might adversely affect
payment to the Trust. The adoption of exchange control regulations and other
legal restrictions could have an adverse impact on the marketability of
international securities in the Trust and on the ability of the Trust to
satisfy its obligation to redeem Units tendered to the Trustee for redemption.
In addition, restrictions on the settlement of transactions on either the
purchase or sale side, or both, could cause delays or increase the costs
associated with the purchase and sale of the foreign Securities and
correspondingly could affect the price of the Units.

Investors should be aware that it may not be possible to buy all Securities at
the same time because of the unavailability of any Security, and restrictions
applicable to the Trust relating to the purchase of a Security by reason of
the federal securities laws or otherwise.

Foreign securities generally have not been registered under the Securities Act
of 1933 and may not be exempt from the registration requirements of such Act.
Sales of non-exempt Securities by the Trust in the United States securities
markets are subject to severe restrictions and may not be practicable.
Accordingly, sales of these Securities by the Trust will generally be effected
only in foreign securities markets. Although the Sponsor does not believe that
the Trust will encounter obstacles in disposing of the Securities, investors
should realize that the Securities may be traded in foreign countries where
the securities markets are not as developed or efficient and may not be as
liquid as those in the United States. The value of the Securities will be
adversely affected if trading markets for the Securities are limited or absent.

Page 3

Small and/or Mid Capitalization Companies. While historically stocks of small
and mid capitalization companies have outperformed the stocks of large
companies, the former have customarily involved more investment risk as well.
Such companies may have limited product lines, markets or financial resources;
may lack management depth or experience; and may be more vulnerable to adverse
general market or economic developments than large companies. Some of these
companies may distribute, sell or produce products which have recently been
brought to market and may be dependent on key personnel.

The prices of small and mid cap company securities are often more volatile
than prices associated with large company issues, and can display abrupt or
erratic movements at times, due to limited trading volumes and less publicly
available information. Also, because such companies normally have fewer shares
outstanding and these shares trade less frequently than large companies, it
may be more difficult for the Trusts which contain these Securities to buy and
sell significant amounts of such shares without an unfavorable impact on
prevailing market prices.

Concentration

The Target High Quality Dividend Portfolio is concentrated in stocks of
companies within the financials sector.

Financials. Companies in the financials sector include regional and money
center banks, securities brokerage firms, asset management companies, savings
banks and thrift institutions, specialty finance companies (e.g., credit card,
mortgage providers), insurance and insurance brokerage firms, consumer finance
firms, financial conglomerates, foreign banking and financial companies.

Financial companies are subject to extensive governmental regulation which
limits their activities and may affect their ability to earn a profit from a
given line of business. Government regulation may change frequently and may
have significant adverse consequences for companies in the financials sector,
including effects not intended by the regulation. New legislation and
regulatory changes could cause business disruptions, result in significant
loss of revenue, limit financial firms' ability to pursue business
opportunities, impact the value of business assets and impose additional costs
that may adversely affect business. There can be no assurance as to the actual
impact these laws and their implementing regulations, or any other
governmental program, will have on any individual financial company or on the
financial markets as a whole. Companies in the financials sector may also be
the targets of hacking and potential theft of proprietary or customer
information or disruptions in service, which could have a material adverse
effect on their businesses.

In addition, general economic conditions are important to the operations of
these companies, and financial difficulties of borrowers may have an adverse
effect on the profitability of financial companies. Deteriorating economic
fundamentals may increase the risk of default or insolvency of particular
financial institutions, negatively impact market value, cause credit spreads
to widen, and reduce bank balance sheets. Financial companies can be highly
dependent upon access to capital markets, and any impediments to such access,
such as adverse overall economic conditions or a negative perception in the
capital markets of a financial company's financial condition or prospects,
could adversely affect its business. For example, any failure of a bank can
result in disruption to the broader banking industry or markets generally,
which may also heighten market volatility and reduce liquidity. Deterioration
of credit markets can have an adverse impact on a broad range of financial
markets, causing certain financial companies to incur large losses. In these
conditions, companies in the financials sector may experience significant
declines in the valuation of their assets, take actions to raise capital and
even cease operations. Some financial companies may also be required to accept
or borrow significant amounts of capital from government sources and may face
future government-imposed restrictions on their businesses or increased
government intervention. However, there is no guarantee that governments will
provide any such relief in the future and no certainty that such relief will
mitigate the effects of any failure of a financial institution on the economy
or otherwise strengthen public confidence in financial institutions. These
actions may cause the securities of many companies in the financials sector to
decline in value.

Banks, thrifts and their holding companies are especially subject to the
adverse effects of economic recession; volatile interest rates; portfolio
concentrations in geographic markets, in commercial and residential real
estate loans or any particular segment or industry; and competition from new
entrants in their fields of business. Banks, thrifts and their holding
companies are subject to extensive federal regulation and, when such
institutions are state-chartered, to state regulation as well. Such
regulations impose strict capital requirements and limitations on the nature

Page 4

and extent of business activities that banks and thrifts may pursue.
Regulatory actions, such as increases in the minimum capital requirements
applicable to banks and thrifts and increases in deposit insurance premiums
required to be paid by banks and thrifts to the FDIC, can negatively impact
earnings and the ability of a company to pay dividends. Neither federal
insurance of deposits nor governmental regulations, however, insures the
solvency or profitability of banks or their holding companies, or insures
against any risk of investment in the securities issued by such institutions.

Interest rate levels, general economic conditions and price and marketing
competition also affect insurance company profits. Companies involved in the
insurance industry are engaged in underwriting, reinsuring, selling,
distributing or placing of property and casualty, life or health insurance.
Property and casualty insurance profits may also be affected by weather
catastrophes and other disasters. Life and health insurance profits may be
affected by mortality and morbidity rates. Individual companies may be exposed
to material risks including reserve inadequacy and the inability to collect
from reinsurance carriers. Insurance companies are subject to extensive
governmental regulation, including the imposition of maximum rate levels,
which may not be adequate for some lines of business. Proposed or potential
tax law changes may also adversely affect insurance companies' policy sales,
tax obligations, and profitability. In addition to the foregoing, profit
margins of these companies continue to shrink due to the commoditization of
traditional businesses, new competitors, capital expenditures on new
technology and the pressures to compete globally. All insurance companies are
subject to state laws and regulations that require diversification of their
investment portfolios and limit the amount of investments in certain
investment categories. Failure to comply with these laws and regulations would
cause non-conforming investments to be treated as non-admitted assets for
purposes of measuring statutory surplus and, in some instances, would require
divestiture associations.

Page 5

Undertaking

Subject to the terms and conditions of Section 15(d) of the Securities Exchange Act of 1934, the undersigned registrant hereby undertakes to file with the Securities and Exchange Commission such supplementary and periodic information, documents, and reports as may be prescribed by any rule or regulation of the Commission heretofore or hereafter duly adopted pursuant to authority conferred in that section.

CONTENTS OF REGISTRATION STATEMENT

Bonding Arrangements of Depositor:

First Trust Portfolios L.P. is covered by a Brokers' Fidelity Bond, in the total amount of $2,000,000, the insurer being National Union Fire Insurance Company of Pittsburgh.

This Registration Statement on Form S-6 comprises the following papers and documents:

The Facing Sheet

The Prospectus

The Signatures

Exhibits

S-1

SIGNATURES

The Registrant, FT 11569, hereby identifies The First Trust Special Situations Trust, Series 4; The First Trust Special Situations Trust, Series 18; The First Trust Special Situations Trust, Series 69; The First Trust Special Situations Trust, Series 108; The First Trust Special Situations Trust, Series 119; The First Trust Special Situations Trust, Series 190; FT 286; The First Trust Combined Series 272; FT 412; FT 438; FT 556; FT 754; FT 1102; FT 1179; FT 2935; FT 3320; FT 3367; FT 3370; FT 3397; FT 3398; FT 3400; FT 3451; FT 3480; FT 3529; FT 3530; FT 3568; FT 3569; FT 3570; FT 3572; FT 3615; FT 3647; FT 3650; FT 3689; FT 3690; FT 3729; FT 3780; FT 3940; FT 4020; FT 4037; FT 4143; FT 4260; FT 4746; FT 4789; FT 5039; FT 5415; FT 7033; FT 7256; FT 7935; FT 8495; FT 8669; FT 8713; FT 8740; FT 8746; FT 8758; FT 8817; FT 8955; FT 8956; FT 8965; FT 8976; FT 8978; FT 8993; FT 8994; FT 8997; FT 9039; FT 9040; FT 9042; FT 9058; FT 9068; FT 9203; FT 9204; FT 9303; FT 9305; FT 9326; FT 9327; FT 9372; FT 9401; FT 9402; FT 9403; FT 9474; FT 9513; FT 9514; FT 9611; FT 9630; FT 9709; FT 9872; FT 9908; FT 9911; FT 9923; FT 9937; FT 9950; FT 9961; FT 9977; FT 9978; FT 10051; FT 10057; FT 10105; FT 10109; FT 10121; FT 10272; FT 10295; FT 10323; FT 10412; FT 10447; FT 10455; FT 10475; FT 10528; FT 10583; FT 10689; FT 10694; FT 10756; FT 10865; FT 10895; FT 10976; FT 11035; FT 11095; FT 11096; FT 11097; FT 11155; FT 11156; FT 11223; FT 11224; FT 11285; FT 11462 and FT 11475 for purposes of the representations required by Rule 487 and represents the following:

(1)that the portfolio securities deposited in the series with respect to which this Registration Statement is being filed do not differ materially in type or quality from those deposited in such previous series;

(2)that, except to the extent necessary to identify the specific portfolio securities deposited in, and to provide essential financial information for, the series with respect to the securities of which this Registration Statement is being filed, this Registration Statement does not contain disclosures that differ in any material respect from those contained in the registration statements for such previous series as to which the effective date was determined by the Commission or the staff; and

(3)that it has complied with Rule 460 under the Securities Act of 1933.

Pursuant to the requirements of the Securities Act of 1933, the Registrant, FT 11569, has duly caused this Amendment to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Wheaton and State of Illinois on July 9, 2024.

FT 11569

By:

First Trust Portfolios L.P.
Depositor

By:

/s/ Elizabeth H. Bull
Senior Vice President

S-2

Pursuant to the requirements of the Securities Act of 1933, this Amendment to the Registration Statement has been signed below by the following person in the capacity and on the date indicated:

Name	Title*	Date

James A. Bowen	Director of The Charger Corporation, the General Partner of First Trust Portfolios L.P., and Chief Executive Officer of First Trust Portfolios L.P.	) ) ) )By: /s/ Elizabeth H. Bull ) Attorney-in-Fact** ) July 9, 2024
James M. Dykas	Chief Financial Officer of First Trust Portfolios L.P.	) )
Christina Knierim	Controller of First Trust Portfolios L.P.	) )

The title of the person named herein represents his or her capacity in and relationship to First Trust Portfolios L.P., the Depositor.

Executed copies of the related powers of attorney were filed with the Securities and Exchange Commission in connection with the Amendment No. 1 to Form S-6 of FT 11333 (File No. 333-276837) and the same is hereby incorporated herein by this reference.

S-3

CONSENT OF COUNSEL

The consent of counsel to the use of its name in the Prospectus included in this Registration Statement is contained in its opinion filed as Exhibit 3.1 of the Registration Statement.

Consent of Independent Registered Public Accounting Firm

The consent of Deloitte & Touche LLP to the use of its name in the Prospectus included in the Registration Statement is filed as Exhibit 4.1 to the Registration Statement.

S-4

EXHIBIT INDEX

1.1

Standard Terms and Conditions of Trust for FT 10292 and certain subsequent Series, effective September 7, 2022 among First Trust Portfolios L.P., as Depositor, The Bank of New York Mellon, as Trustee and First Trust Advisors L.P., as Portfolio Supervisor (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-266325] filed on behalf of FT 10292).

1.1.1

Trust Agreement for FT 11569, effective July 9, 2024 among First Trust Portfolios L.P., as Depositor, The Bank of New York Mellon, as Trustee and First Trust Advisors L.P., as Portfolio Supervisor.

1.2

Certificate of Limited Partnership of Nike Securities, L.P., predecessor of First Trust Portfolios L.P. (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-230481] filed on behalf of FT 8001).

1.3

Amended and Restated Limited Partnership Agreement of Nike Securities, L.P., predecessor of First Trust Portfolios L.P. (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-230481] filed on behalf of FT 8001).

1.4

Articles of Incorporation of Nike Securities Corporation, predecessor to The Charger Corporation, the general partner of First Trust Portfolios L.P., Depositor (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-230481] filed on behalf of FT 8001).

1.5

By-Laws of The Charger Corporation, the general partner of First Trust Portfolios L.P., Depositor (incorporated by reference to Amendment No. 2 to Form S-6 [File No. 333-169625] filed on behalf of FT 2669).

1.7

Fund of Funds Agreements (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-261661] filed on behalf of FT 9909, Amendment No. 1 to Form S-6 [File No. 333-261297] filed on behalf of FT 9857, Amendment No. 1 to Form S-6 [File No. 333-262164] filed on behalf of FT 9948, Amendment No. 1 to Form S-6 [File No. 333-262344] filed on behalf of FT 9965, Amendment No. 1 to Form S-6 [File No. 333-263845] filed on behalf of FT 10083 and Amendment No. 1 to Form S-6 [File No. 333-274281] filed on behalf of FT 11028).

2.2

Code of Ethics (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-224320] filed on behalf of FT 7359).

S-5

3.1

Opinion of counsel as to legality of securities being registered.

4.1

Consent of Independent Registered Public Accounting Firm.

6.1

List of Principal Officers of the Depositor (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-236093] filed on behalf of FT 8556).

7.1

Powers of Attorney executed by the Officers listed on page S-3 of this Registration Statement (incorporated by reference to Amendment No. 1 to Form S-6 [File No. 333-276837] filed on behalf of FT 11333).

S-6