The First Trust Senior Floating Rate 2022 Target Term Fund, referred to as "the Fund," functions as a diversified, closed-end investment management entity. Its core objectives are to achieve significant current income and to distribute $9.85 per common share to its shareholders by approximately February 1, 2022. This distribution amount signifies the original net asset value per share, prior to a $0.02 per common share deduction for offering expenses. The Fund primarily allocates around 80% of its managed capital to a portfolio consisting of senior secured floating-rate loans, which are also known as senior loans and can be of any maturity. Trust Advisors L.P. is responsible for managing the Fund's investments.