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The iBonds® Muni Series funds invest in AMT-free, investment grade, noncallable municipal bond debt. Each fund matures as of a stated date, and is anticipated to terminate on or about September 1st of the year in the Fund’s name.

Below is information related to funds in the iShares Muni Series.

 

iShares 2014 AMT-Free Muni Bond  ETF (MUAC)

The fund, in accordance with its prospectus and investment objective matured on August 15, 2014. This fund has stopped trading and is no longer available for new investments.

Shareholders remaining in the fund will receive the final distribution amount per share as detailed below. Investors will receive the entire amount of their proceeds in cash on or after August 21, 2014. Investors are encouraged to reach out to their specific brokerages to confirm timing of payment.

Schedule of Events for MUAC

Date of eventAmount
8/15 Closing price on final trading day of fund $51.18
8/21 Final distribution amount $51.18

 

iShares 2013 S&P AMT-Free Municipal Series (MUAB)

The fund, in accordance with its prospectus and investment objective matured on August 15, 2013. This fund has stopped trading and is no longer available for new investments.

Shareholders remaining in the fund will receive the final distribution amount per share as detailed below. Investors will receive the entire amount of their proceeds in cash on or after August 21, 2013. Investors are encouraged to reach out to their specific brokerages to confirm timing of payment.

Schedule of Events for MUAB

Date of event Amount
8/15 Closing price on final trading day of fund $50.50
8/21 Final distribution amount $50.499880


iShares 2012 S&P AMT-Free Municipal Series (MUAA)

The fund, in accordance with its prospectus and investment objective matured on August 15, 2012. This fund has stopped trading and is no longer available for new investments.

Shareholders remaining in the fund will receive the final distribution amount per share as detailed below. Investors will receive the entire amount of their proceeds in cash on or after August 21, 2012. Investors are encouraged to reach out to their specific brokerages to confirm timing of payment.

Schedule of Events for MUAA

Date of event Amount
8/15 Closing price on final trading day of fund $50.58
8/21 Final distribution amount $50.62

1. The legal name of this fund is the iShares® iBonds® Sep 2015 AMT-Free Muni Bond ETF
2. The legal name of this fund is the iShares® iBonds® Sep 2016 AMT-Free Muni Bond ETF
3. The legal name of this fund is the iShares® iBonds® Sep 2017 AMT-Free Muni Bond ETF
4. The legal name of this fund is the iShares® iBonds® Sep 2018 AMT-Free Muni Bond ETF
5. The legal name of this fund is the iShares® iBonds® Sep 2019 AMT-Free Muni Bond ETF
6. The legal name of this fund is the iShares® iBonds® Sep 2020 AMT-Free Muni Bond ETF

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

There may be less information on the financial condition of municipal issuers than for public corporations. The market for municipal bonds may be less liquid than for taxable bonds. Some investors may be subject to federal or state income taxes or the Alternative Minimum Tax (AMT). Capital gains distributions, if any, are taxable.

Each Muni Series ETF (“Fund”) will terminate on or about September 1 of the year in the Fund’s name. An investment in the Fund(s) is not guaranteed, and an investor may experience losses, including near or at the termination date. In the final months of the Fund’s operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. Following the Fund’s termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then-current investors without further notice and will no longer be listed or traded. The Funds do not seek to return any predetermined amount.

During the final three months prior to the Fund’s planned termination date, its yield will generally tend to move toward prevailing tax-exempt money market rates, and may be lower than the yields of the bonds previously held by the Fund and lower than prevailing yields for bonds in the market. The rate of Fund distribution payments may adversely affect the tax characterization of an investor’s returns from an investment in the Fund relative to a direct investment in municipal bonds. If the amount an investor receives as liquidation proceeds upon the Fund’s termination is higher or lower than the investor’s cost basis, the investor may experience a gain or loss for tax purposes.

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., European Public Real Estate Association (“EPRA®”), FTSE International Limited (“FTSE”), India Index Services & Products Limited, JPMorgan Chase & Co., MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (“NAREIT”), New York Stock Exchange, Inc., Russell Investment Group or S&P Dow Jones Indices LLC, nor are they sponsored, endorsed or issued by Barclays Capital, Inc. None of these companies make any representation regarding the advisability of investing in the Funds.  BlackRock is not affiliated with the companies listed above. Index data related to the underlying indexes is provided by the respective companies above.

Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Real Estate 50 Index, FTSE NAREIT Residential Plus Capped Index, FTSE NAREIT Industrial/Office Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-US Index, FTSE EPRA/NAREIT Developed Europe Index or FTSE EPRA/NAREIT Developed Asia Index; all rights vest in FTSE, NAREIT and EPRA. All rights in the FTSE Developed Small Cap ex-North America Index vest in FTSE. “FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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