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First Trust Strategic High Income Fund II Announces Reserve for Litigation

January 29, 2014

WHEATON, Ill. --(BUSINESS WIRE)-- First Trust Strategic High Income Fund II (the “Fund” ) (NYSE: FHY) announced today that it has booked a reserve for potential costs and expenses related to the previously disclosed class action lawsuit filed against the Fund by Lehman Brothers Special Finance, Inc. Based on the current status of the litigation, the Fund has booked a reserve that will result in a reduction in net asset value per share of $0.44 . There is no assurance that this amount will be sufficient to cover the ultimate costs of litigation. The Fund is a diversified closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide capital growth. The Fund pursues these investment objectives by investing up to 100% of its managed assets in a diversified portfolio of below-investment grade and investment grade debt securities and equity securities that the investment sub-advisor believes offer attractive yield and/or capital appreciation potential. 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 $85 billion as of December 31, 2013 , through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. Brookfield Investment Management Inc. serves as the Fund’s sub-advisor. 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, management risk, value investing risk, below-investment grade securities risk, fixed-income securities risk, mortgage-backed securities risk, asset-backed securities risk, convertible securities risk, municipal securities risk, non-U.S. securities risk, non-U.S. government securities risk, equity securities risk, currency risk, distressed securities risk, preferred stock risk, inflation/deflation risk, market discount risk, leverage risk, derivatives risk, market disruption risk, portfolio turnover risk, and illiquid/restricted securities risk. 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 or by calling 1-800-988-5891. First Trust Strategic High Income Fund II Press Inquiries: Jim Dykas , 630-517-7665 Source: First Trust Strategic High Income Fund II

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Source: Business Wire

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