FT Cboe Vest U.S. Equity Buffer ETF - May - USD Stock

The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - May is to seek to provide investors with returns (before fees, expenses and taxes) that match the price return of the SPDR S&P 500 ETF Trust (the 'Underlying ETF'), up to a predetermined upside cap of 17.07% (before fees, expenses and taxes) and 16.21% (after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund's management fee), while providing a buffer against the first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the period from May 18, 2020 to May 21, 2021. Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options that reference the performance of the SPDR S&P 500 ETF Trust.