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First Trust Intermediate Duration Preferred & Income Fund Increases its Monthly Common Share Distribution to $0.1575 Per Share for October

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First Trust Intermediate Duration Preferred & Income Fund (the “Fund”) (NYSE:FPF) has increased its regularly scheduled monthly common share distribution to $0.1575 per share from $0.1525 per share. The distribution will be payable on October 15, 2014, to shareholders of record as of October 3, 2014. The ex-dividend date is expected to be October 1, 2014. The monthly distribution information for the Fund appears below.

First Trust Intermediate Duration Preferred & Income Fund (FPF):

Distribution per share: $0.1575
Distribution Rate based on the September 19, 2014 NAV of $24.54: 7.70%
Distribution Rate based on the September 19, 2014 closing market price of $21.56: 8.77%
Increase from previous distribution of $0.1525: 3.28%

The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all 2014 distributions will be made after the end of 2014.

The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund will seek to achieve its investment objectives by investing in preferred and other income-producing securities. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies, including traditional preferred securities, hybrid preferred securities that have investment and economic characteristics of both preferred securities and debt securities, floating rate and fixed-to-floating rate preferred securities, debt securities, convertible securities and contingent convertible Securities.

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $101 billion as of August 31, 2014, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Stonebridge Advisors LLC (“Stonebridge”), the Fund’s investment sub-advisor, is a registered investment advisor specializing in preferred and hybrid securities. Stonebridge was formed in December 2004 by First Trust Portfolios L.P. and Stonebridge Asset Management, LLC. The company had assets under management or supervision of almost $3.53 billion as of June 30, 2014. These assets come from separately managed accounts, unified managed accounts, an open-end mutual fund, an actively managed exchange-traded fund and the Fund.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: Investment in this Fund involves investment and market risk, market discount from net asset value risk, management risk, preferred and hybrid preferred securities risk, trust preferred securities risk, debt securities risk, credit crisis liquidity and volatility risk, convertible securities/contingent convertible securities risk, risks of concentration in the financial sector, government intervention in the financial markets risk, REIT risk, credit and below investment grade securities risk, credit rating agency risk, leverage risk, foreign (non-U.S.) securities risk, emerging markets risk, common stock risk, U.S. government securities risk, foreign government securities risk, municipal securities risk, illiquid and restricted securities risk, valuation risk, inflation/deflation risk, potential conflicts of interest risk, new types of securities risk, counterparty and prime brokerage risk, portfolio turnover risk, non-diversified shares risk, market disruption, geopolitical risk, risk related to certain affiliations and anti-takeover provisions, temporary defensive strategies risk, secondary market for the fund’s common shares, changes in law. The risks of investing in the Fund are spelled out in the prospectus, shareholder reports and other regulatory filings.

The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.

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